The metals market is showing a mixed picture right now. Some metals are correcting in the short term. But long term gains remain strong. Precious metals are still leading the yearly performance. Industrial metals are moving in different directions.
Silver jumps 128.06% YoY while gold gains 46.69%
Silver is one of the top performers. It is priced at 73.710 USD per troy ounce. It fell 2.60% in a day. But the bigger trend is very strong. It has surged 128.06% over the past year.
Gold is also holding strong. It is at 4711.72 USD per troy ounce. It dropped 0.84% in a day. Monthly performance is down 5.88%. But year to date it is up 9.09%. Yearly gains stand at 46.69%.
Platinum is also showing strength. It is priced at 2037.40 USD per troy ounce. It fell 1.35% in a day. But it has jumped 115.49% year on year.
These numbers show that precious metals are still a strong long term bet despite short term dips.
Lithium rises 32.49% YTD while copper gains 25.82% YoY
Lithium continues to perform well. It is priced at 157000 CNY per ton. It gained 0.93% in a day. Year to date growth is 32.49%. Yearly gains are at 119.27%.
Copper is also stable. It is at 5.8395 USD per pound. It dropped 0.53% in a day. Weekly growth is 4.59%. Yearly gains stand at 25.82%.
Titanium is slowly moving up. It is priced at 48.00 CNY per kg. It gained 1.05% in a day. Monthly growth is 3.23%.
Silicon also rose 2.00% in a day. But it is still down 10.91% over the past year.
This shows that industrial metals are seeing selective growth. Some are rising due to demand while others are under pressure.
Steel dips while iron ore shows weak trend despite small gains
Steel prices are mostly flat. It is at 3082.00 CNY per ton. It gained just 0.10% in a day. Year to date performance is slightly negative at 0.45%.
HRC steel is doing better. It is priced at 1083.10 USD per ton. It has gained 15.84% this year and 15.47% over the past year.
Iron ore is showing weakness. It is priced at 106.63 USD per ton. It gained 0.34% in a day. But it is still down 0.47% this year.
Iron ore in China is also under pressure. It is down 3.29% year to date.
Scrap steel is at 406.00 USD per ton. It dropped 1.93% in a day but is still up 11.69% year on year.
Overall the metals market is uneven right now. Precious metals are leading with strong yearly gains. Industrial metals are mixed. Some are rising with demand while others are facing pressure from slowing growth trends.