In this episode we discuss our expectations for metal and bulk commodity markets into 2024, a new era for gold, and why we see a tighter copper market than expected. (13 min). BMO clients can view our report, “CORRECTION: Q1 2024 Metals & Bulk Commodity Price Update: The Old Guard Step Up”, by visiting: https://researchglobal0.bmocapitalmarkets.com/research/e9d00408-6249-4535-80d7-25496e8af494/ Episode transcript:...

In this episode we discuss the need for supply adjustments across commodities, with a focus on nickel, consider the seasonal iron ore trade, and think about the outlook for batteries and EVs (12 min) Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/amRTYUgrNU1nZ1BzQ3Q0aW9tVHIzOVk2NURESDNla25xRzN5anlSMDdKNVVLS0pWTzAvNHlkckdiSjBIOWl0bW82WXRjbklvZTJUOEFwd001MDRHMlE9PQ2.PDF To access our full disclosures, please visit:...

In this episode we discuss Asia Copper Week, palladium, and silver. (12 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/WUcxaGpJRE1RVXc0Y29yOUVBaFRaS1JEazZENUFtK1djem9DdkNvQmJmNUt5V1FtRTJtVmpoZXdnQ1hBRHpTVEdzUVNhS24wTk0vMDBTQjlqdzQ4NWc9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we discuss fears that the energy transition is struggling, gold, uranium and the return of supply issues. (12 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/OUZ5Rk1iVERkZDN2Zmtxa2tvT0lpTk12UEhmMEtJNzluT09rNUdTNGQyZThzeURJQUlqUkpydS9FUkpsRWFudnNONDRuNm1DQ2VaRFJFcVNHOWhiNlE9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this edition, we provide feedback from LME Week, discuss the positive trends in Chinese data, and talk through the current iron ore situation. (12 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/Nm5QUjhpcW85SWk1U21nZHVCajdreUVMalZ5QVRRR1o5My9oMm9keUZPRmJZU3kzeStYN0RNeTlrTjFOM2JpVWJNdTZ3ZjRxRk1mazJrVGF2Qjg2M3c9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

This week we preview LME Week 2023, discuss global industrial outlook and our recent price changes, and provide some quick thoughts on aluminium. BMO clients can view our report, "Q4 2023 Metals & Bulk Commodity Price Update: Steadying the Ship", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/0a32588c-405d-444f-a3a2-e9d2fc97cddb/ Episode transcript:...

In this episode we discuss China’s August data, the UAW strike, India, and met coal. (10 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/R0RzRnoxOUVsRXd0ajZ0VjZDOEdGQ2lNWnluY3c0eEJpM0FoL2RFSTJRVGNXYmVHT2RmN3RuR2VQZk1BQW9wM0pKb2g2TFVUcUZ2VmxkbzZXcDlpYUE9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

This week we provide a short sharp summary of our views across the main commodities under our coverage for the remainder of 2023 and 2024.  Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/ZklGekd5RUI5Z2VsTEsrUHMwZGlHQUNRT0duZHMxWGNzbzc2RUNEcmJEOFBKQzJOaVBweXl1MmxVaXNLT0tLLzF2Sm9TbEwyM0xETU1udmtlOGs5VUE9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this special podcast we discuss the outlook for uranium ahead of the World Nuclear Symposium in London, covering market dynamics, current sentiment towards uranium, and the demand growth potential from small modular reactors. (18 min). BMO clients can view our report, "U Kids on the Block", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/d1f5bec3-dfbe-418b-9674-948f8ba6a84e/ Episode transcript:...

In this short episode we discuss whether China’s July data might be as bad as it gets, China gold demand, ex-China indicators and BHP’s latest commodity outlook. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/ZHJjUVFMNWloMWdxd3BnRUh2YXFSV1NUdytBU3ZJdFY3VE1sUnJOTDVQVDBQeXhRTW92Tksrdlplby9SSGVhRlRNYmJzQmNVMHduY3gwc3hRQktXNHc9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we discuss our recent notes on copper substitution and iron ore pellet feed, plus silver’s set-up and China’s steel cuts Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/cjNLTUtEbEpjbWpvRmtidzIyUlp5dXNBdDNRN2M4REFKVTVGbWlhTFhCWjJTM0dKYk51OEtMOEdjQXJaRmJQNjNIaS9zbFh6bmo0VUNxamdaQnJiSFE9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we consider the outcomes from China’s politburo meeting, critical minerals, met coal, and potential El Niño impacts. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/K1JnVTc3bFg2RDNscXFtMDBVdVJKZDZvdUxIb005M2hLNUd6Nmt5VGV4SmJveExJbURVUmx5dW51OXk4cHk5VitTKzBFekpGcnJxcWN6clR4UC9nMEE9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (11 min) podcast we discuss China’s minor metals export bans, the latest on stimulus, plus recent price forecast changes. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/LzJwaWRMbTdpeFY4ZmZHVE56RHhvVEZQVXNJOVlUYzAxeGEzajFsd0tvS2puaWdwSy95bkQ3SVhpWDJLMjJXWFFWRDJXNjRrT21PY3E3TXMxTmd6dmc9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (8 min) podcast we discuss China’s drip feed policy support, why the trend to bigger batteries might slow, alumina’s challenges and client interest in DRI. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/aTQwbmVIcEJSd0E1TkJKclV4Qzk2R2N1dDBOZWx5QTlqeldlejJoeTVhZnZ6M2JsM1kwOHlpeitaYW5hejN1K3VDd3JMVUVBMERsWWx2Ri91TmI5RGc9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

We discuss the latest Chinese data points and policy support, fading inflation pressures, and power demand for data. (12 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/ZGZWTGZwR3I4bmdvYS9saUhFTE1iYkFkWXRaMFlFRnRjazNkMHVhNUljdUpqdGZHWFk0VUE2SHlrdzhGUDh4TGVTdHdBN1VsQldtYk5YWUM5ekZvckE9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

This week we discuss whether markets are too bearish on near-term metals price expectations, where we are relative to cost curves, and provide PGM and aluminium conference feedback. (12 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/UGllc0R4UXhBNCs5cmhBU2tWMjJHbDlHUWMzZ1hzOGFFaFFoRm0zMjdCRllZZkQxUzBLN2F1cm5zY2QxTUJoakFvdjB6QWkvQVVJZlBKU09NbmdVbGc9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

This week we discuss mixed data points from China, cobalt, and preview London Platinum Week. (10 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/dTFWZmVFdmxzZDdzMjQvdjVHZW5BQlpndHV4MDY5b3hUVnQ3NDduS0ZqdXRGTEdwdDBuaHFCWCtHZGZJVFZvMll6M1NhWFBhOU11T2JHbGU4ZHNnTFE9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

This week we discuss feedback from CESCO copper week, aluminium, China trade and the pressure on battery raw materials. (12 min). BMO clients can view our report, "CESCO Copper Week 2023 - Checking the Copper Connections", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/c69346d7-e6e9-460c-bded-63eac1e7026c/ Episode transcript:...

This week, we preview CESCO Week in Chile, discuss China’s recovery path and what happens now with gold above $2,000/oz. (11 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/UVBiUXlPY1M5NmJQU3QvcXZiUzYrbmpWeGgvb1JaSHFGUXFDNzhvdjNDT3JVTHJkTWlMVUx0YWRpSEhsa251Y3l1dTIrUkVLOGtZWVA1S1M2M0FMT2c9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

This time round we address the battle for critical minerals, China’s green shoots, the impact of financial turmoil on commodities, and our latest electric vehicle assumptions. (12 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/a1pSSERXM3VQVjFmZHBHaFRSTEN6TmhJYSs4b09xK3phQmNZVVg0WVIyeGpTTmZsWW1WR1NkTVZ0UnJZSHFOaUdpNG1vQnNHazd2QXh2QVQrTHo4MGc9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

This time around we provide feedback from BMO’s Global Metals, Mining and Critical Minerals Conference, review China’s 2023 growth target, and discuss the current situation in PGM markets. (11 min). Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/a0ZYRzhqVzEvaDltK1BIdmhEZHZKVFhVOWZ6ejB1cThYQTFvandjOGxKenAraDRmWU9ENURKUHlFdG41cmdsV1MrOGN4ME1WZ1VldWQvNCtNZkMxRGc9PQ2.PDF To access our full disclosures, please visit:...

In this short (10 min) podcast we preview both the 32nd Annual BMO Global Metals, Mining and Critical Minerals Conference and the International Zinc Association meeting. We also consider how our demand forecasts are incrementally changing thus far in 2023. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/NWFqVXdLTlRZWGJqUmkrZDVWN0hxV1hFa3FRREs5d25lZ2ZDYk1sV2tPbFRFOG55SmFic1ZZWU9QcmF0dXZGSEdiMTJ5aVZhU3FKSDJXNFo1b2treWc9PQ2.PDF To access our full disclosures, please...

In this short podcast we discuss feedback from Mining Indaba, nickel and uranium. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/d1pUcC83R21UczNsWG9uRXpadFVOTzFZQ2ZBYWkxeGx5SmJSSEUzeGdNTFVkNXB4VEZRNzRrRzdBNXFDd3RhR25GQXVyTjhRczFMUUt1M21GRXZlcXc9PQ2.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (12 min ) podcast we discuss full China commodity data for 2022, aluminium and gold. BMO clients can view our report, "2022 – A Very Mixed Year for China’s Metals Demand", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/b8a0e166-508b-469c-b43f-3ed0465ec148/ Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/0699D71D-7779-42CF-BD96-96B001065AA8.PDF To access our full disclosures, please visit:...

In this short (10 min) podcast we discuss the reasons for the strong start to the year for prices, how a lack of inventories may be a problem, and the potential to convert copper smelters to make nickel. BMO clients can view our report, "(Lack of) Inventory a Major Issue for Industrial Metals", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/4fe2b3f7-c229-443e-95e6-d3cb478eb245/ Episode transcript:...