BMO Equity Research Metal Matters

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.b...

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://researchglobal...

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, pl...

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.bmocapi...

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 ou...

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-di...

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: https://research-ca.bmocapitalmarkets.com/documents...

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.bmo...

This week, we discuss our recent commodity price changes, China’s lithium and gold imports and alumina market dynamics. (9 min). BMO clients can view our report, "Q2 2023 Metals & Bulk Commodity Price Update: Keeping It Real", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/21782f22-3504-40bf-8020-42d2a7eaaf44/ Episode transcript: https://research-ca.bmocapitalmarkets.com/docum...

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...

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 ac...

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/NWFqVXdLTlRZWGJqUmkrZDVWN0hxV1hFa3FRREs5d25lZ2ZDYk1sV2tPbFRFOG55SmFic1Z...

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...

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...

In this short (10 mins) podcast, we discuss BMO’s Global Metals & Mining Outlook for 2023, latest views on copper, and investment in technology. BMO clients can view our report, "Metals & Mining Outlook 2023: Transition Ongoing, but Leaning on the Old Guard", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/ae35244b-55b0-4ee4-9dea-879f13f28c5a/ Episode transcript: https://resear...

In this short (10 min) podcast we discuss the latest on China, Rio Tinto’s investor seminar, battery raw materials and developed world demand. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/B60777FB-002A-4A9E-85CD-D20CED5B3536.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (11 min) podcast, we discuss the recent announcement of property market support in China, preview Asia copper week and discuss what we might expect from China’s State Resources Group. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/74C0B1E8-4361-4206-BCCB-58060E3C8882.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.c...

In this short podcast (9 min) we discuss LME Week feedback, cuts to copper supply expectations, the latest on China policy, and the potential for asset-level joint ventures in the industry. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/A3A03E89-54FE-4C0A-8ADB-B47D16A82761.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/publi...

In this short (9 min) podcast we discuss expectations for LME Week, China property and Precious Metals Conference feedback. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/85032577-EDAB-40EE-A481-BE5ED95C4821.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (9 min) podcast we discuss the headwinds for the global industrial economy, the rise of responsible sourcing, and our latest quarterly commodity outlook. BMO clients can view our report, "Q4 2022 Commodity Price Update: The Devil Is in the Demand", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/2a353d2c-3ec7-4183-98a6-49a3cc99ee5e/ Episode transcript: https://res...

In this short nine-minute podcast we discuss the improvement in China’s August data, the copper supply situation, and Denver Gold Forum feedback. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/8C2274DC-AEC8-4F17-B928-5E2D99E3BCD8.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (10 min) podcast we discuss expectations for China’s CPC meeting, batteries, uranium and base metal inventories. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/CABE2704-7271-46B4-9852-EFC7085480C7.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (9 min) podcast we discuss the impact of rising power prices on supply and demand in the metals industry, the potential for industrial action and the current state of copper. Click here for transcript. To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (8 min) podcast we take stock of demand trends, costs, and China steel optimism in what has been a relatively quiet August thus far for metals and bulk commodity markets. Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/FAF96EBA-8D96-4E15-B6BD-A51595D018FD.PDF To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-dis...