American Metal Market is part of Fastmarkets

Prices of gold and silver have surged so far in 2024, leading to more popularity for copper, zinc and lead concentrate containing higher levels of these precious metal to profit from the rising value of the byproduct, Fastmarkets has learned.

Record-high prices for refined copper metal and a shortage of copper concentrates have caught the attention of investors. Bringing new, large-scale supply to the market is not simple or quick, but brownfield expansions and scrap supply may offer a quicker response

The base metals complex has been on a climb on futures exchanges globally but the surge is not reflected in physical markets, with buyers generally staying out of the market due to elevated prices, sources told Fastmarkets

Sources from across the copper concentrate industry told Fastmarkets that some miners are becoming more cautious of their counterparty risk – the risk that the other party in a transaction may not fulfill its part of the deal – with copper concentrate terms being agreed as far out as 2028.

Supply disruption and financial speculation helped most base metals prices hit 2024 highs in the week to Friday May 24, yet demand remains mostly muted

Fastmarkets proposes to increase the frequency of its Rotterdam and Busan molybdic oxide and ferro-molybdenum prices to daily from twice weekly.