Global copper smelting slipped to the lowest levels in at least five years in March as top producer China failed to recover following the Lunar New Year holiday due to supply shortages.

Namely, Australia saw a 672% increase in rare earth production over the last decade, and more recently, Myanmar entered the mix.

Even the world’s largest producer - China - seems to be running short of aluminum.

Consultancy CRU previously estimated a total of 100,000 tonnes of annual aluminum production may be cut as a result of the Inner Mongolia restrictions.

Battery-grade lithium carbonate prices started to buck a three-year downturn in the second half of 2020 as electric vehicle demand roared back from the coronavirus outbreak.

The European Union has imposed duties on aluminum products imported from China after an investigation showed that they were being sold at unfairly low prices.

Investors eye details of a large US infrastructure bill that could boost metals demand.