Crazy commodities (my belated 2023 recap plus what’s happening now in 2024)

It’s been a CRAZY few months for commodities.

We’ve seen copper above $4 and lithium falling much lower than expected, uranium soaring and nickel plummetting.

I spent more time dissecting projections from mining companies to banks to gain insights into what’s ahead (not an easy job!) and posted some of these analyses.

You all seem to enjoy them, so here are the best:

The leaders $BHP $RIO produce copper, nickel, and more.

Their views on what’s coming for commodities should always be on your radar:

BHP and RIO see the copper future (and they are showing us)

JP Morgan $JPM has a long-term view on copper that plays well with what BHP says, yet provides an interesting twist:

JP Morgan’s views on copper for investors

Glencore $GLEN, on a global hunt for mining opportunities, justifies moves with a definite stance for copper and more

Glencore’s copper 2040 outlook is DARING

Freeport $FCX (with new CEO) has a lot to say:

Here’s what Freeport McMoran sees ahead for copper (and how they can bring significant upside to your portfolio)

$CITI may be gearing up to cut down their workforce significantly in 2024, but we shouldn’t discount their opinion.

Citi and The Case for $15K/t Copper

The lithium leaders $ALB $SQM make their views clear in this one.

Lithium giants Albemarle, SQM gearing up for growth in EVs and the battery supply chain

I wonder if Albemarle is happy it failed to acquire $LTR given how the lithium market has softened.

This one is a bit cheeky on my part but I stand by it.

Reading between the lines is as important to identify opportunities as interpreting the explicit content.

$BRK

Warren Buffett is bullish on copper

Robert Friedland’s insights:

This billionaire has BOLD views on copper for 2024 (and you’d be wise to listen)

Here, the 7 most widely held lithium stocks:

Lithium is finally mainstream (I have proof!)

China controls a HUGE portion of graphite, rare earths and other minerals and chemicals, so their moves are keeping many up at night.

Here’s what they did with gallium and germanium:

(spoiler alert: more moves came later, and I’m sure are coming)

US proposes changes to the IRA in move to exclude China (and Russia) from benefits

Our first podcast episode of the year we discussed the shift in copper forecasts.

Finally, here’s a bit of a potpourri from Bank of America, Macquarie $UBS $GS

Copper and lithium are (finally) firmly in institutional portfolios.

The largest global banks see long-term opportunity for investors.

Here's a quick recap of what they've said over the past few months:

— Paola Rojas 🐝 (@paola_rojas) July 11, 2023

That’s it for today!

If you enjoy these types of breakdowns on commodities, please share this post – I promise to do even more.