State of the Market: Mining Q4-2022

Metals prices rose in the December quarter on long-awaited news of China reversing its strict zero-COVID policy, and on softening inflation in the U.S. weakening the U.S. dollar. The picture was nevertheless mixed at year-end, with China's relaxing of restrictions leading to a surge in COVID cases and the global economy still slowing.

Among our covered commodities, lithium was the true winner of the quarter and of the year, with concentrate prices at record highs, ensuring a payback timeframe of less than one year for most recently assessed projects.

With near-term demand concerns persisting into early 2023, we anticipate lower annual average prices for most commodities year over year. However, rebounding economic activity as the year progresses should prepare the industry for stronger years ahead.

Join us to recap the December 2022 quarter and outlook for 2023:

• Commodity price trends, drivers and estimates
• Financing, drilling and exploration metrics
• Mergers and acquisitions

^{This webinar will be presented by S&P Global Commodity Insights research team. S&P Global Commodity Insights produces content for distribution on the S&P Capital IQ Pro platform, a product of S&P Global Market Intelligence.}