Commodities Roundup: Silver rises; aluminum prices recover; research team releases findings on cobalt-free batteries

For the buyers and category managers out there, especially those of you deep in the weeds of buying and managing commodities, here’s a quick rundown of news and thoughts from particular commodity markets.

MetalMiner, a sister site of ours, scours the landscape for what matters. This week:

Silver surges

MetalMiner’s Stuart Burns touched on silver’s recent price rise.

“Despite making some recovery, silver prices have risen some 20% since March. Silver is still estimated to have as far again to go, according to Goldman Sachs as quoted by Reuters,” Burns wrote.

“Over the past 20 years, silver prices have closely tracked an equally weighted basket of the continuous commodity index and gold prices, SeekingAlpha observes, by virtue of having a foot in both camps as both an industrial and monetary metal. The strong gains seen in gold over recent months and the bounce in the broad commodity complex have supported silver, but it still remains deeply undervalued on this basis.”

Aluminum price recovery

As Chinese demand recovers, metals prices on the SHFE have also made gains in recent weeks.

As MetalMiner’s Maria Rosa Gobitz explained earlier this month, the SHFE aluminum price has surged past its previous 2020 high — reached Jan. 17 — to CNY 14,650 as of July 10.

“The SHFE prices recovered 30% over the last three months,” Gobitz wrote.

“Meanwhile, LME prices are recovering but not as quickly.

“In the past three months, the prices went up by 16% from its April low. Last Friday, the price reached $1,694/mt, which is still 8.45% below the 2020 peak of $1,835/mt (reached Jan. 6).”

UT at Austin releases study on cobalt-free batteries

As companies like Tesla strive to remove cobalt from their products — whether due to costs or ethical concerns associated with mining it — research teams have worked to find new battery solutions that do not require cobalt.

A team at the University of Texas at Austin recently released its findings on a cobalt-free,…

Read More