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Africa’s largest extraction & mining research house providing forecasts & analysis for commodity prices, industry profitability and industrial costs. For more details on our services visit our website: www.afriforesight.com
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the US is taking an increasingly 𝗯𝗲𝗹𝗹𝗶𝗴𝗲𝗿𝗲𝗻𝘁 𝗽𝗼𝘀𝘁𝘂𝗿𝗲 𝘁𝗼𝘄𝗮𝗿𝗱𝘀 𝗩𝗲𝗻𝗲𝘇𝘂𝗲𝗹𝗮, while 𝗺𝗲𝗲𝘁𝗶𝗻𝗴𝘀 with both 𝗥𝘂𝘀𝘀𝗶𝗮𝗻 𝗣𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝘁 𝗣𝘂𝘁𝗶𝗻 𝗮𝗻𝗱 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝗣𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝘁 𝗫𝗶 are on the 𝗰𝗮𝗿𝗱𝘀.
Although there is no end in sight to the now 𝟯-𝘄𝗲𝗲𝗸 𝗼𝗹𝗱 𝗨𝗦 𝗴𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝘀𝗵𝘂𝘁𝗱𝗼𝘄𝗻, Trump’s attentions will be focused on 𝗴𝗹𝗼𝗯𝗮𝗹 𝗮𝗳𝗳𝗮𝗶𝗿𝘀: the 𝗰𝗲𝗮𝘀𝗲-𝗳𝗶𝗿𝗲 𝗶𝗻 𝗚𝗮𝘇𝗮 looks 𝘁𝗲𝗻𝘂𝗼𝘂𝘀,
Markets took the 𝗽𝗼𝘀𝗶𝘁𝗶𝘃𝗲 𝘃𝗶𝗲𝘄 in 𝗔𝘀𝗶𝗮𝗻 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 this morning after 𝗨𝗦 𝗣𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝘁 𝗧𝗿𝘂𝗺𝗽 sought to 𝗲𝗮𝘀𝗲 𝘁𝗿𝗮𝗱𝗲 𝘁𝗲𝗻𝘀𝗶𝗼𝗻 over the weekend. 𝗖𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝘆 𝘁𝗿𝗮𝗱𝗲𝗿𝘀 zoned in on 𝘀𝘁𝗿𝗼𝗻𝗴 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻 amongst a mixed set of 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 𝟯𝗿𝗱 𝗾𝘂𝗮𝗿𝘁𝗲𝗿 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗱𝗮𝘁𝗮.
𝗩𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆 ruled 𝗴𝗹𝗼𝗯𝗮𝗹 𝗲𝗾𝘂𝗶𝘁𝘆 and 𝗰𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝘆 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 last week as traders reacted to each new development in the 𝗨𝗦 / 𝗖𝗵𝗶𝗻𝗮 𝘁𝗿𝗮𝗱𝗲 𝘄𝗮𝗿. With memories of 𝟮𝟬𝟮𝟯’𝘀 𝗯𝗮𝗻𝗸 𝗳𝗮𝗶𝗹𝘂𝗿𝗲𝘀 still fresh, 𝗳𝗿𝗮𝘂𝗱 𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝘄𝗿𝗶𝘁𝗲-𝗼𝗳𝗳𝘀 at a few 𝗨𝗦 𝗿𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗯𝗮𝗻𝗸𝘀 raised alarms about 𝗰𝗿𝗲𝗱𝗶𝘁 𝗾𝘂𝗮𝗹𝗶𝘁𝘆, adding to jitters.
🌍 What moved prices last week? Get the Monday Morning Africa
𝗩𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆 𝗿𝘂𝗹𝗲𝘀 𝗮𝘀 𝘁𝗿𝗮𝗱𝗲 𝘄𝗮𝗿 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀
𝗪𝗲 𝗱𝗼𝗻’𝘁 𝗷𝘂𝘀𝘁 𝗱𝗲𝗹𝗶𝘃𝗲𝗿 𝗻𝘂𝗺𝗯𝗲𝗿𝘀 — 𝘄𝗲 𝗱𝗲𝗹𝗶𝘃𝗲𝗿 𝗰𝗹𝗮𝗿𝗶𝘁𝘆 𝗶𝗻 𝗰𝗼𝗺𝗽𝗹𝗲𝘅𝗶𝘁𝘆. Whether it’s 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 how global trade 𝘀𝗵𝗶𝗳𝘁𝘀 impact 𝗔𝗳𝗿𝗶𝗰𝗮𝗻 𝗿𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀 or what 𝗳𝘂𝘁𝘂𝗿𝗲 𝗱𝗲𝗺𝗮𝗻𝗱 means for 𝙮𝙤𝙪𝙧 𝙗𝙪𝙨𝙞𝙣𝙚𝙨𝙨, 𝗔𝗳𝗿𝗶𝗳𝗼𝗿𝗲𝘀𝗶𝗴𝗵𝘁 𝘁𝘂𝗿𝗻𝘀 𝗱𝗮𝘁𝗮 𝗶𝗻𝘁𝗼 𝗱𝗶𝗿𝗲𝗰𝘁𝗶𝗼𝗻.
𝗢𝘂𝗿 𝘁𝗲𝗮𝗺 𝗼𝗳 𝗲𝘅𝗽𝗲𝗿𝘁 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝘀𝘁𝘀 𝗮𝗻𝗱 𝗮𝗻𝗮𝗹𝘆𝘀𝘁𝘀 track 𝗴𝗹𝗼𝗯𝗮𝗹 and 𝗔𝗳𝗿𝗶𝗰𝗮𝗻 trends to produce:
✅ 𝗣𝗿𝗶𝗰𝗲 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁𝘀 and 𝗰𝗼𝘀𝘁 𝗼𝘂𝘁𝗹𝗼𝗼𝗸𝘀 that guide strategic planning
✅ In-depth 𝗰𝗼𝘂𝗻𝘁𝗿𝘆 𝗿𝗶𝘀𝗸 𝗮𝗻𝗮𝗹𝘆𝘀𝗲𝘀 for investors and operators
✅ 𝗧𝗮𝗶𝗹𝗼𝗿𝗲𝗱 𝗰𝗼𝗻𝘀𝘂𝗹𝘁𝗶𝗻𝗴 to help businesses 𝘁𝗵𝗿𝗶𝘃𝗲 in volatile markets
As 𝗔𝗳𝗿𝗶𝗰𝗮’𝘀 𝗹𝗮𝗿𝗴𝗲𝘀𝘁 𝗶𝗻𝗱𝗲𝗽𝗲𝗻𝗱𝗲𝗻𝘁 commodity research house, we provide 𝗰𝗹𝗲𝗮𝗿, 𝗮𝗰𝘁𝗶𝗼𝗻𝗮𝗯𝗹𝗲 intelligence on over 𝟰𝟬 𝗰𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝗶𝗲𝘀 — from 𝗲𝗻𝗲𝗿𝗴𝘆 and 𝗺𝗶𝗻𝗶𝗻𝗴 to 𝗮𝗴𝗿𝗶𝗰𝘂𝗹𝘁𝘂𝗿𝗲 and 𝗺𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴. ⚙️📊
🌍 𝗧𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗕𝗲𝗵𝗶𝗻𝗱 𝗔𝗳𝗿𝗶𝗰𝗮’𝘀 𝗖𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝘆 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀

At 𝗔𝗳𝗿𝗶𝗳𝗼𝗿𝗲𝘀𝗶𝗴𝗵𝘁, we’re 𝗽𝗮𝘀𝘀𝗶𝗼𝗻𝗮𝘁𝗲 about helping 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗲𝘀, 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀, 𝗮𝗻𝗱 𝗽𝗼𝗹𝗶𝗰𝘆𝗺𝗮𝗸𝗲𝗿𝘀 make 𝘀𝗺𝗮𝗿𝘁𝗲𝗿 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 through independent, data-driven 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁𝗶𝗻𝗴 and 𝗱𝗲𝗲𝗽 𝗺𝗮𝗿𝗸𝗲𝘁 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵.
𝗪𝗲 𝗮𝗹𝘀𝗼 𝗽𝗿𝗼𝘃𝗶𝗱𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝘀𝘁𝗮𝘁𝘀 𝗳𝗼𝗿 𝗦𝗼𝘂𝘁𝗵 𝗔𝗳𝗿𝗶𝗰𝗮’𝘀 𝗸𝗲𝘆 𝗰𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝗶𝗲𝘀: iron ore, manganese ore, chrome ore, coal, PGMs, gold, copper, and nickel.

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Compared to August ‘24, volumes showed a 𝘀𝗹𝗶𝗴𝗵𝘁 𝗱𝗲𝗰𝗿𝗲𝗮𝘀𝗲 𝗼𝘃𝗲𝗿𝗮𝗹𝗹 as lower precious metal, chromium, manganese ore and base metal output outweighed coal, iron ore, and diamond increases.
𝗦𝗲𝗮𝘀𝗼𝗻𝗮𝗹𝗹𝘆 𝗮𝗱𝗷𝘂𝘀𝘁𝗲𝗱 𝘃𝗼𝗹𝘂𝗺𝗲𝘀 𝗱𝗲𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆, however, mainly as seasonally 𝘄𝗲𝗮𝗸 precious metal, iron ore, chromium outweighed stronger-than-expected coal and copper output.
⚒️📊𝗦𝗼𝘂𝘁𝗵 𝗔𝗳𝗿𝗶𝗰𝗮 𝗠𝗶𝗻𝗶𝗻𝗴 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗨𝗽𝗱𝗮𝘁𝗲

𝗦𝗔’𝘀 𝗮𝗰𝘁𝘂𝗮𝗹 𝗺𝗶𝗻𝗶𝗻𝗴 𝘃𝗼𝗹𝘂𝗺𝗲𝘀 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗺𝗼𝗱𝗲𝗿𝗮𝘁𝗲𝗹𝘆 in August ‘25 compared to July as 𝗵𝗶𝗴𝗵𝗲𝗿 PGM, chromium, copper and nickel volumes 𝗼𝘂𝘁𝘄𝗲𝗶𝗴𝗵𝗲𝗱 𝗽𝘂𝗹𝗹𝗯𝗮𝗰𝗸𝘀 in gold, coal, iron ore, manganese ore and diamond output.
𝗘𝗾𝘂𝗶𝘁𝗶𝗲𝘀 (down) and 𝗽𝗿𝗲𝗰𝗶𝗼𝘂𝘀 𝗺𝗲𝘁𝗮𝗹𝘀 (up) were still reflecting the 𝘁𝗿𝗮𝗱𝗲 𝘀𝗵𝗼𝗰𝗸 in this morning’s Asian trading even as Trump 𝗱𝗼𝘄𝗻𝗽𝗹𝗮𝘆𝗲𝗱 the 𝘁𝗵𝗿𝗲𝗮𝘁𝘀 over the weekend, with 𝗯𝗮𝘀𝗲-𝗺𝗲𝘁𝗮𝗹 and 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗽𝗿𝗶𝗰𝗲𝘀 also taking heart from strong 𝗖𝗵𝗶𝗻𝗲𝘀𝗲 goods export and 𝗰𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝘆 import numbers.
Even though markets had climbed for the week up to that point, they had already been anxious about a potential 𝗔𝗜 𝗯𝘂𝗯𝗯𝗹𝗲, debasement in developed economies’ currencies and debt and 𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝗮𝗹 𝘁𝘂𝗿𝗺𝗼𝗶𝗹 𝗶𝗻 𝘁𝗵𝗲 𝗨𝗦, 𝗙𝗿𝗮𝗻𝗰𝗲 𝗮𝗻𝗱 𝗝𝗮𝗽𝗮𝗻.
Global 𝗲𝗾𝘂𝗶𝘁𝘆 and 𝗰𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝘆 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 took a dive on Friday after 𝗨𝗦 𝗣𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝘁 𝗧𝗿𝘂𝗺𝗽 threatened 𝟭𝟬𝟬% 𝘁𝗮𝗿𝗶𝗳𝗳𝘀 and 𝘁𝗲𝗰𝗵 𝗲𝘅𝗽𝗼𝗿𝘁 𝗿𝗲𝘀𝘁𝗿𝗶𝗰𝘁𝗶𝗼𝗻𝘀 on 𝗖𝗵𝗶𝗻𝗮 in retaliation for new wide-reaching controls on 𝘁𝗿𝗮𝗱𝗲 𝗼𝗳 𝗿𝗮𝗿𝗲 𝗲𝗮𝗿𝘁𝗵 𝗺𝗶𝗻𝗲𝗿𝗮𝗹𝘀, 𝗽𝗿𝗼𝗰𝗲𝘀𝘀𝗶𝗻𝗴 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗲𝘀 and 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝘀.
🌍 What moved prices last week? Get the Monday Morning Africa
𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗿𝗮𝘁𝘁𝗹𝗲𝗱 𝗮𝘀 𝗨𝗦/𝗖𝗵𝗶𝗻𝗮 𝘁𝗿𝗮𝗱𝗲-𝘄𝗮𝗿 𝗿𝗲𝗶𝗴𝗻𝗶𝘁𝗲𝘀
𝗗𝗿𝗶𝘃𝗶𝗻𝗴 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗱𝗮𝘁𝗮 — 𝘁𝗵𝗮𝘁’𝘀 𝘄𝗵𝗮𝘁 𝘄𝗲 𝗱𝗼 𝗯𝗲𝘀𝘁. 💡

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From 📊 𝗽𝗿𝗶𝗰𝗲 𝗳𝗼𝗿𝗲𝗰𝗮𝘀𝘁𝘀 and 📈 𝗰𝗼𝘀𝘁 𝗺𝗼𝗱𝗲𝗹𝗹𝗶𝗻𝗴 to 🌐 𝗰𝗼𝘂𝗻𝘁𝗿𝘆 𝗿𝗶𝘀𝗸 𝗿𝗲𝗽𝗼𝗿𝘁𝘀, our insights 𝗲𝗺𝗽𝗼𝘄𝗲𝗿 𝗲𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲𝘀 and 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 to make 𝗶𝗻𝗳𝗼𝗿𝗺𝗲𝗱, future-focused 𝗱𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 across the continent.
🌍📊𝗦𝗵𝗮𝗽𝗶𝗻𝗴 𝗦𝗺𝗮𝗿𝘁𝗲𝗿 𝗗𝗲𝗰𝗶𝘀𝗶𝗼𝗻𝘀 𝗶𝗻 𝗔𝗳𝗿𝗶𝗰𝗮’𝘀 𝗖𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝘆 𝗠𝗮𝗿𝗸𝗲𝘁𝘀

At 𝗔𝗳𝗿𝗶𝗳𝗼𝗿𝗲𝘀𝗶𝗴𝗵𝘁, we’re 𝗽𝗿𝗼𝘂𝗱 to be 𝗔𝗳𝗿𝗶𝗰𝗮’𝘀 𝗹𝗲𝗮𝗱𝗶𝗻𝗴 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗵𝗼𝘂𝘀𝗲 for 𝗺𝗶𝗻𝗶𝗻𝗴 and 𝗰𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝘆 market intelligence.