BMO Equity Research IN Tune

In this short (8 min) Metal Matters podcast, we discuss the knock-on effects of China’s power rationing, central bank policy, and what we expect from the forthcoming LME Week discussions.BMO clients can view our report, "Q4 2021 Commodity Price Update - Surprises Shift From Demand to Supply", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/8d79e3cb-c27a-4083-97ec-52ec01ce62df/Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/31BE112F-B079-47C1-80E7-A9DCED12AE1C.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (9 min) Metal Matters podcast we discuss the challenges facing China on both the policy and property fronts, aluminium’s recent price gains, and drivers of price divergence in iron ore and met coal.Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/2E2C86DA-1933-4B6B-A50C-77EB6CE08F59.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

BMO Capital Markets recently increased its electric vehicle (EV) penetration forecasts to 7% this year, and 15% by 2025, with important spillover impacts into lithium, nickel, and cobalt. This podcast highlights the work of our analysts, Joel Jackson, Robin Fiedler, and Colin Hamilton, and is a deep dive into our EV forecast, the supply and demand dynamics in lithium and other raw materials, and the impact on related equities, as well as the supply complexity that the industry faces.BMO clients can view our report, “Recalibrating EV Sales, and Lithium / Nickel / Cobalt Demand Estimates Higher”, by visiting: https://researchglobal0.bmocapitalmarkets.com/research/c03825ba-8af5-4803-a7fe-c37b3b4be4a9/Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/56739524-749B-4FC8-9AD2-D4ADB9FC0F37.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (8 min) Metal Matters podcast we discuss the upcoming World Nuclear Association and Denver Gold conferences, the electric vehicle upgrade cycle and the impact logistical constraints may have on the wider metals cycle.Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/F3F967B9-82F6-4CC6-A57C-F973D8D5D164.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

The Canadian Investment Funds Industry is a mature and saturated marketplace. The wealth management operations of the Canadian banks, with a leading and growing market share in Canadian investment funds, an inherent distribution advantage, as well as a pricing advantage, continue to outperform the independent fund companies. In a mature and saturated marketplace where it’s increasingly difficult to compete against the wealth management operations of the Canadian banks, we see challenges for the Canadian independent fund companies. We explore strategic options for the Canadian independent fund companies. For the well-positioned wealth management segments of the Canadian banks, it’s most likely business as usual.BMO clients can view our IN Front report, “Canadian Wealth & Asset Management – Banks vs. Independents”, by visiting: https://researchglobal0.bmocapitalmarkets.com/research/4eafbcda-5e48-42e0-9622-9212e3ead30d/Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/A171269F-A2DF-4AFB-A70E-66937B67AB12.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this 7 min Metal Matters podcast, we discuss 1) why strong free cash flow hasn’t yielded many new project approvals, 2) China’s steel production cuts and capacity offshoring, and 3) why the countdown to the COP26 Summit will keep the focus on metals involved with the global energy transition over the next three months.Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/B52119E4-D910-43C8-9A5F-72FD7F2107FA.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

The mining industry doesn’t always have a reputation for being an early adopter of leading-edge technology. But innovations will be increasingly important to offset cost inflation and improve mining efficiency and safety in the future, as new mines will generally be increasingly lower grade and higher cost. Ore sorting is one technology that is likely to make a meaningful impact on the mining industry. Pre-concentration can eliminate low grade or otherwise uneconomic material before the expensive and energy-intensive downstream processes.Metals & Mining analyst Jackie Przybylowski is joined by Anthea Bath, chief operating officer at Ero Copper, and Marie-Claude Halle, CEO and principal consultant at Unearthed Consulting Inc., to discuss the opportunities and risks of ore sorting technology.BMO clients can view our IN Front report, “Ore Sorting: Not a Quick Fix, but a Long-Term Solution”, by visiting: https://researchglobal0.bmocapitalmarkets.com/research/c3b805f4-968f-4b7c-b88c-16459ac4da58/Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/F67EB2AA-18A1-4D5E-A69F-F3B66A8CFB8D.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

We recently invited Will Hess and Song Gao from PRC Macro to discuss with us their outlook for the Chinese economy in the second half of the year, and the potential implications for commodity markets as the economic growth rate starts to slow.Presentation slides: https://research-ca.bmocapitalmarkets.com/documents/752B6C7D-C872-4233-80BC-B40E12DDF1E8.PDFEpisode transcript: https://research-ca.bmocapitalmarkets.com/documents/4D76577A-BC69-4CA6-BBB2-7145C2C3AECB.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this short (6 min) Metal Markets podcast, we discuss what metals and mining producers are doing with strong free cash flow, the potential for copper supply disruptions amid Chilean labour negotiations and what would happen to commodities in the event of another China lockdown as Delta-variant cases spread.BMO clients can view our report, "Dialing up DRI Developments", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/9082e43b-76e1-4d5c-9973-ddc6da064a6d/Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/544C860D-9B96-4350-AF4A-317B777C8D05.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

Members of the Canadian and US REIT research teams discuss their recent IN Front report which addresses the rapid growth of property technology (PropTech). The team also discusses the state of the REIT landscape as we emerge from the COVID-19 pandemic and, lastly, the team offers their respective top picks in the US.BMO clients can view our report, "PropTech: The Next Frontier in Commercial Real Estate", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/6414940b-1b38-4739-a131-af9d48c1b8a5/Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/BD9F2140-7003-4446-9DF2-BB23302C4025.PDFTo access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/