The metals market is showing mixed signals right now. Some metals are rising fast over the year. But short term trends are weak for many.
Gold is trading at 4736.58 USD per ounce. It gained 1.33 percent in a day. Weekly growth stands at 4.79 percent. But monthly performance is down by 10.84 percent. Still, gold is up 9.86 percent this year. Year on year growth is strong at 50.06 percent.
Silver is at 74.708 USD per ounce. It fell 0.44 percent in a day. But weekly growth is 4.85 percent. Monthly drop is sharp at 16.27 percent. Yet silver has gained 121.33 percent over the year. This is one of the highest increases.
Gold and silver prices show strong yearly gains above 50% and 121%
Precious metals are holding strong in the long term. Gold continues to rise steadily. It is seen as a safe asset. The yearly gain of 50.06 percent shows strong demand.
Silver is even more volatile. It has seen a massive 121.33 percent yearly jump. But the recent monthly fall of 16.27 percent shows pressure in the short term.
Platinum is at 1953.80 USD per ounce. It fell 0.83 percent in a day. Monthly drop is 15.45 percent. But yearly growth is still high at 100.55 percent.
Lithium rises 36.29 percent YTD while copper and steel show weak monthly trend
Industrial metals are showing mixed performance. Lithium is at 161500 CNY per ton. It dropped 0.92 percent in a day. But it gained 5.90 percent weekly. Year to date growth is strong at 36.29 percent. Yearly growth stands at 117.95 percent.
Copper is at 5.5829 USD per pound. It fell slightly by 0.08 percent daily. Monthly drop is 5.12 percent. It is down 1.57 percent this year. But still up 14.15 percent year on year.
Steel prices are stable. Steel in China is at 3121 CNY per ton. It fell 0.13 percent daily. Year to date growth is just 0.81 percent. Yearly change is negative at 1.92 percent.
HRC steel is stronger. It is priced at 1066.03 USD per ton. It gained 14.01 percent this year. Yearly growth is 16.51 percent.
Iron ore and scrap steel gain up to 12.04 percent YTD while silicon remains under pressure
Iron ore prices are steady. In China, iron ore is at 812 CNY per ton. It gained 0.50 percent daily. Year to date growth is 2.85 percent. Global iron ore is at 106.38 USD per ton. It is slightly down 0.70 percent this year.
Scrap steel is performing well. It is at 409.50 USD per ton. It gained 12.04 percent this year. Yearly growth is 10.53 percent.
Silicon is weak. It is priced at 8325 CNY per ton. It gained 0.36 percent daily. But yearly decline is 15.44 percent.
Titanium is stable at 46.50 CNY per kg. There is no daily change. Year to date growth is 1.09 percent. Yearly change is slightly negative at 3.13 percent.
Overall, metals are showing a split trend. Precious metals are strong over the year. Industrial metals are under pressure in the short term. But long term demand is still holding for key materials like lithium and steel.