While the outlook for iron ore appears grim, BofA remains bullish on copper due to strong structural demand.

The stoppage could mean the release of copper raw materials to the market, which has faced unprecedented shortages this year.

The bank cited market oversupply even though demand from top consumers in China is stabilizing.

A slump in prices since 2022 is undermining the business case for rare earth projects.

July was the hottest month on record for China, and the heat waves continued into August.

Experts predict gold, which hit an all-time high of $2,554.78 per oz. on Thursday, to be on a long-term bull run.

Gold bulls are locking in bullion prices surging to fresh records, fired up by monetary easing and a tight US presidential election race.