The metals market is showing strong long term growth. Some prices are falling in the short term. But the yearly numbers are very sharp. A few metals have even crossed 100% gains. This shows strong demand across sectors like energy and manufacturing.
Silver price today surges 128.62% YoY while gold gains 41.56%
Gold is trading at 4703.60 USD per troy ounce. It is up 0.12% today. The weekly trend is slightly weak with a 2.77% drop. But monthly gains stand at 3.77%. The bigger picture remains positive. Gold is up 8.80% this year and 41.56% compared to last year.
Silver is outperforming gold by a huge margin. It is priced at 75.597 USD per troy ounce. It gained 0.29% in a day. Weekly performance is down by 6.39%. But monthly growth is strong at 6.02%. The biggest number is yearly growth. Silver has jumped 128.62% YoY. This makes it one of the top performers in the metals space.
Platinum is at 2006.70 USD per troy ounce. It dropped 1.56% today. Weekly fall is 6.61%. Still the yearly growth stands at 106.78%. This shows strong long term demand despite short term pressure.
Lithium and cobalt prices lead with 147.85% and 100.53% YoY growth
Lithium is one of the strongest movers. It is priced at 173000 CNY per ton. There is no daily change. But weekly growth is 2.06% and monthly jump is 13.44%. The yearly surge is massive at 147.85%. This is driven by demand from electric vehicles and batteries.
Cobalt hydroxide is priced at 56705.03 USD per metric ton. It is almost flat in daily and weekly terms. But the yearly growth is still huge at 100.53%. These battery metals are clearly dominating the market.
Copper is trading at 6.0270 USD per pound. It dropped 0.80% today. Weekly decline is 1.37%. But monthly growth is 8.78%. It is up 5.95% this year and 24.37% YoY. This reflects steady industrial demand.
Steel and iron ore remain stable while scrap steel rises 18.00% YoY
Steel is priced at 3134.00 CNY per ton. It is almost flat today. Weekly growth is 1.19% and yearly gain is 2.99%. HRC steel is stronger at 1108.07 USD per ton. It is up 18.29% this year and 24.69% YoY.
Iron ore shows limited movement. It is at 107.06 USD per ton. The yearly gain is 7.08%. In China pricing it stands at 786.50 CNY per ton with 11.64% yearly growth.
Scrap steel is performing better. It is priced at 413.00 USD per ton. It gained 0.61% today. The yearly growth is 18.00%.
Other metals show mixed trends. Silicon is down 4.72% YoY. Titanium is slightly negative at 3.03% yearly decline.
Overall the metals market is driven by battery demand and industrial use. Precious metals are stable. But lithium and silver are clearly leading the rally with massive yearly gains.