Hot Commodities

11 November 2022 10:32

The ASX has come roaring back today, jumping up around $63 billion in the wake of new inflation figures bringing the biggest gains to the US markets in years.

Information Technology was the big sector winner, rising up 5.11 per cent on the day so far, but materials were not lagging with the S&P/ASX 200 Materials up to the tune of 3.41 per cent, with plenty Australian metals and miners along for the ride for a hot stock Friday.

Here are the commodities and their explorers moving with the market.


The spot price of nickel is up 2.88 per cent on the day, providing a 10.38 per cent boost over the past month with all battery-critical metals on investor radars, it is still a far cry from when it briefly hit US$100,000 per tonne after a short squeeze debacle on the London Stock Exchange.

Moving up alongside the commodity are explorers Raiden Resources (ASX: RDN +5.822%) with stream of results coming in from Mt Sholl and Ragnar Metals (ASX: RAG +20%), who continue to show the extensive scale potential of its Granmuren nickel-copper discovery.


The spot price of Dr Copper has risen by 1.15 per cent today, adding to a monthly uptick of 10.45 per cent and moving back closer towards the record highs hit earlier this year on the back of electrification and persisting supply concerns.

Valor Resources (ASX: VAL +7.142%) are up alongside, with the total strike length of its IP targets raised to six kilometres and further adding to a cluster of delineated targets standing drill ready in Peru, while Coda Minerals (ASX: COD +7.692%) have a set of maiden copper results due before year’s end.


The prize of the battery metal world keeps moving, up 13.4 per cent over the month and a whopping 203.07 per cent year on year. C29 Metals (ASX:C29 +9.433%) likewise remain in ascent, its share price nearly doubled after acquiring a pair of highly prospective salars in the Lithium Triangle. Charger Metals (ASX: CHR +5.17%) have twinning lithium campaigns ready to spin in Australia, while Infinity Mining (ASX: IMI) have begun drilling on the largest pegmatites at Tambourah South and are still today but have gone skywards by 48.83% over the past month.

Prices accurate from 9.45 am UTC+ 8 hours.


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