Australian hard rock lithium producers are gearing up to boost supply as spodumene prices have more than tripled since early December.

Stock image. US tariffs on copper look increasingly unlikely after Washington opted to prioritize supply negotiations over trade penalties for processed critical minerals, Macquarie said, a stance that could eventually unwind stockpiles built on fears of import restrictions.

Metals demand in the global industrial economy has been soft since November, despite rising prices across most metals over the past year and manufacturing expansion at its highest level since May 2024.

Antofagasta on Thursday reported a 1.6% fall in 2025 copper production to 653 700 metric tons, missing its guidance, as higher output at key projects was offset by lower ore grades.

Copper prices hit a record high of more than $14 000 a metric ton on Thursday, as speculators extended their buying spree, encouraged by expectations of strong demand and supported by a weak dollar and geopolitical concerns.

Nickel miner PT Vale Indonesia Tbk said on Friday it was suspending mining activities in Southeast Asia’s largest economy due to delays in the approval of its annual production plan.

India’s top court has halted implementation of its five weeks-old order that opened up the mineral-rich Aravalli hills, one of the world’s oldest, for more extensive mining and real estate.

Chile’s Codelco and SQM completed a landmark deal aimed at boosting lithium extraction from the country’s Atacama Desert, giving the government control of one of the world’s richest reserves of the metal.

Supply disruption and tariff dislocation have defined the London Metal Exchange (LME) base metals complex this year.

Global commodities trader and miner Glencore has agreed to acquire a majority stake in Dutch fuel supplier FincoEnergies for an undisclosed sum, the Dutch company said on Monday.