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The current shift toward more ethical sourcing is pushing for greater supply chain transparency and leading to an increased interest in cobalt recycling and alternative technologies. Companies like Tesla are working to develop nickel-cobalt-aluminum (NCA) batteries in their effort to reduce dependence on cobalt and further improve overall battery performance. The market has experienced consistent supply deficits since 2021, with 2023 recording a substantial shortfall of 184.3 million ounces. This trend is expected to continue, as 2024 consumption is projected to reach 1.21 billion ounces. With supply at only 1.03 billion ounces, this creates a significant deficit of 182 million ounces – a situation that could drive prices higher.
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He criticized the current monetary policies as misguided, arguing that they are artificially suppressing interest rates and creating an environment ripe for economic instability. Hecla Mining (HL 0.55%), for one, notched a double-digit increase by rising almost 13% in price over the week, according to data compiled by S&P Global Market Intelligence. Slightly behind but still posting a healthy gain was Ero Copper (ERO -0.42%) and its 8%-plus rise. Total silver supply has actually declined over the past decade, dropping from 1.07 billion ounces in 2010 to an estimated 1.03 billion ounces in 2024.
Thorne also issued a strong warning about the potential for deflation, a period of sustained decline in prices and economic activity. “That’s why gold is so good… that is why Bitcoin is so good it’s a really stable store of value.” In a recent interview on the Soar Financially, Jim Thorne, Chief Market Strategist at Wellington Altus, issued a stark warning about the current economic landscape, predicting a shift towards a new economic order.
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- One of the major drivers has been the widespread expectation that the Federal Reserve will cut interest rates.
- With supply at only 1.03 billion ounces, this creates a significant deficit of 182 million ounces – a situation that could drive prices higher.
- Recognizing the evolving role of technology, Thorne highlighted the potential of blockchain and cryptocurrencies.
- The company, which owns Cartier and Van Cleef & Arpels, had a record Q3, with sales topping $6 billion.
- That’s because many of them rose on the back of increases in the materials they mine and sell.
When interest rates are cut, the opportunity cost of holding non-yielding assets like silver decreases. This makes silver more attractive compared to interest-bearing investments such as bonds or savings accounts. The company, which owns Cartier and Van Cleef & Arpels, had a record Q3, with sales topping $6 billion. Core retail sales during the 2024 holiday season surpassed the National Retail Federation’s forecast.
SMM’s Nickel Industry Chain Annual Report predicted continued growth in nickel sulfate demand due to EV industry expansion and transition to bigger and stronger batteries. In fact, lithium carbonate demand has already reached 850,000 mt LCE in 2024, up 44% year over year, according to SMM’s latest figures. With major automakers Tesla, BYD, and Volkswagen producing units with vigor, lithium suppliers just can’t produce this much-needed metal fast enough. The Democratic Republic of Congo is the leading country in the production of cobalt and provides a high share, at about 60%, to the entire world supply.
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The metal’s impressive 40% rally by October, which outpaced even gold’s strong performance, drove prices to $35 before settling around $32 in mid-December. In 2024 silver prices crossed a decade-long price ceiling, passing over $30 per ounce and catching the attention of investors worldwide. Compounding all that, a relatively shaky geopolitical situation is making central banks around the world nervous. That’s because many of them rose on the back of increases in the materials they mine and sell.
Demand for precious metals
- That’s because many of them rose on the back of increases in the materials they mine and sell.
- Platinum demand in industrial applications and jewelry demand has strengthened amid the recovery in global economic activity.
- With supply at only 1.03 billion ounces, this creates a significant deficit of 182 million ounces – a situation that could drive prices higher.
- Expected rate cuts throughout 2025 could provide significant support for precious metals prices, including silver.
- Lower rates tend to drive up the prices of precious metals as they are becoming more competitive with safety investments like bonds.
- China, which dominates the global lithium market, has increased its cost for the extraction and production of raw materials.
- One of the major drivers has been the widespread expectation that the Federal Reserve will cut interest rates.
Its Database Pro and Metals Industry Database provide real-time access to 15,000+ metal prices and 150,000+ databases respectively and are a must-have for anyone in the metals supply chain. The other significant metal for the production of lithium-ion batteries, specifically high-energy-density batteries for EVs, is nickel. According to SMM, on January 15, 2025, the average price of SMM 1 nickel was convert british pounds to hungarian forints USD 15,518.99/mt, slightly down from the previous day. Despite such fluctuations, nickel is one of those metals contributing immensely to huge demand in fulfilling the rising requirements of energy storage for electric vehicles. Despite the obvious surge in demand, lithium production has been plagued by a number of factors. China, which dominates the global lithium market, has increased its cost for the extraction and production of raw materials.
One of the major drivers has been the widespread expectation that the Federal Reserve will cut interest rates. Lower rates tend to drive up the prices of precious metals as they are becoming more competitive with safety investments like bonds. Gold, silver, and the like are considered more inherently valuable than bonds, which pay less interest as rates decline. Central bank decisions, particularly regarding interest rates, play a crucial role in silver’s performance. Expected convert australian dollar to hungarian forint rate cuts throughout 2025 could provide significant support for precious metals prices, including silver. Demand for lithium, due to global electrification ambitions and EV scaling, is expected to continue to increase through 2025.
End the Fed? Why America’s backup plan may be its gold stash – Peter St Onge
Thorne, a veteran of the financial markets, argued that the current system is unsustainable and that investors must adapt to navigate the impending challenges, including the potential for deflation. This is in particular the case for the manufacturing of nickel-rich cathodes that offer higher energy density and range for EVs. The increasing trend toward nickel-based battery chemistries such as NCM (Nickel-Cobalt-Manganese) and NCA (Nickel-Cobalt-Aluminum) is driving high demand for high-purity nickel. Recognizing the evolving role of technology, Thorne highlighted the potential of blockchain and cryptocurrencies. During periods of heightened geopolitical tension, silver has historically demonstrated its safe-haven appeal, as evidenced by the 47% price surge during the 2020 global crisis.
Gold prices to see another +20% year, rallying to $3,300 as governments continue to spend – AuAg’s Eric Strand
This feed delivers timely insights into the factors influencing prices, mining operations, and global demand for precious metals, making it a vital resource for investors, traders, and enthusiasts alike. Global tensions and political uncertainties continue to influence precious metals markets, with Russia and Mexico – accounting for nearly 21% of global silver production – facing ongoing conflicts and regulatory changes. Current geopolitical risks in key mining regions could drive increased safe-haven demand, particularly given that Mexico’s recent mining reforms have already impacted approximately 5% of projected 2024 output. Metals Daily provide PGM investors with the latest platinum and palladium prices, breaking gold news, data analysis and precious metal information so your investment decisions are informed and up to date. MetalsDaily.com provide gold investors with the latest gold prices, breaking gold news, data analysis and precious metal information so your investment decisions are informed and up to date. With over 100 analysts in lithium, cobalt, nickel, and many other industries, SMM provides unparalleled industry intelligence.
According to SMM, lithium supplies will likely be tight globally, producing pricing volatility plus potential supply chain risks. EV battery companies can hedge identified risks through long-term contracts, diversified supplies. MetalsDaily.com brings you all the latest live platinum and palladium news, headlines, data analysis and information from the global PGM markets. Keep up to date with the largest and fastest source of platinum and palladium market news information provided by Sharps Pixley.
Cobalt: Making Possible the Safety and Performance of the Battery
Therefore, enterprises that depend upon nickel should work out long-term contracting and explore various sources of alternative supplies, such as recycled nickel. What is pessimistic The nickel mining sector has been recording slow production growth, and at the same time, high-purity class nickel has become increasingly costly to mine. According to SMM, on the back of tight supply conditions, the price of nickel salts increased slightly in early 2025. Up to 2025, supply for nickel will continue to be tight; and as these imbalances remain between supply and demand, that may cause price increases in both nickel sulfate and nickel metal.