BMO Equity Research Metal Matters

In this episode we discuss the impact of China’s State Grid’s new budget, new rebar standards, H1 trade and a special Olympics bonus section. 13 minClick here for transcript.To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

This episode discusses feedback from Shanghai Platinum Week, gold’s push to new highs and initial thoughts from Q2 production results.(13 mins)Click here for transcript.To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we talk through our recent price changes, base metal concentrate tightness, tariffs and met coal. (11 min).Episode transcriptTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we discuss the copper physical-financial disconnect, China’s focus on substituting copper with aluminium, and the current nickel situation. (11 min)Click here for transcriptTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we discuss the unusual rise in visible metal inventory during May, supply issues in alumina and manganese ore, and the latest on batteries from the Rhomotion Europe conference. (13 mins)Click here for transcript.To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we discuss whether some recent price gains are fundamentally justified, PGMs, China property and long run copper price expectations. (13 mins)Episode transcript: To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we discuss the unusual situation happening in copper at present, why iron ore might be the best way to play Chinese recovery, gold demand and BMO’s economic expectations. (13 min)Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/d0pHOGZncGVNNW1pdHBjTnF0TWFUcVZmS21iSEM0TXBYUmxESHBEakpRUG1qdG5QSmdyTnJkWWFUaFNVeHVTSEhBWUlCNStQdlRpNjV2eWR4Lzg3aWc9PQ2.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we provide feedback from CESCO Week in Chile, discuss implications of Russian material bans, and consider whether rising capital intensity is causing an existential moment for the mining industry. (12 min).Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/OUczMjdoUlY3MElvc29ER1B1cnV4UWVjYXFDSmFwQnFjazZqWTRXb2IzcHk2UStHbXVlNnBUb0pyb3V1VVFaOHduMEtpbFVxRTYwZjJWZCtpWm5vR2c9PQ2.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode we discuss the new nominal highs for gold, a strong cross-commodity start to Q2, and preview CESCO Week 2024. 13 min Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/NUxwVEJHb21OOG1OVlBxT2dXMytFYVRYbWJEdW1BVS9JR3NCN1Z4SytLUjQ3ZTBJL2xobC9oVDdlT2FjczI1UUNJY2wwZGN4bG9qWDdlaHFNSTd5WlE9PQ2.PDF

This episode discusses our recent commodity price changes, global capex spending, China’s delayed fiscal impulse and manganese ore. 12 min.Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/SGFVcjZqc2FjYithT21yc05EM3lKSk5pVU1ONmJMVEY1Ym9YSzQxa3REZm5ENjhXTlpmSi8yRWhtOVNlVE9mTlJwa081dnJMWTN3emJ1ckZCWXA5M2c9PQ2.PDFBMO clients can view our report, Q2 2024 Metals & Bulk Commodity Price Update: Beginning to Look Brighter, by visiting: https://bmo.bluematrix.com/docs/pdf/f934ec8f-929b-460c-ae3a-1d5a192a1bcc.pdf