Major Lithium Miners Push for a More Reliable Spot Price
Australia’s leading lithium miners are advocating for a “coalition of the willing” to establish a trading exchange aimed at reducing price volatility and making the commodity more appealing for commercial bank financing. The surging demand from batteries and electric vehicles has energized the Australian lithium industry. However, the market structure, where investors often send mine output to refineries, results in minimal spot market trading. Consequently, prices for lithium spodumene concentrate, primarily mined in Australia and processed in China, experience significant fluctuations based on single trades and limited price disclosure.

Investors Bet That Nvidia Will Leave Magnificent Seven Rivals Behind
Nvidia has solidified its position among Wall Street’s elite after exceeding analyst expectations with its latest earnings report, indicating the US chipmaker has outpaced its magnificent seven peers. The company unveiled optimistic forecasts, reinforcing its status as the primary beneficiary of artificial intelligence spending, with tech giants like Microsoft and Google increasingly relying on its AI accelerators. Nvidia’s stellar first-quarter results have justified bullish investor sentiment, driving the stock up 92% this year. Rapidly accelerating profits pushed Nvidia shares 6% higher in after-hours trading, as investors remain confident in the stock’s continued meteoric rise.

Gold Stocks Drop as Price Falls
Gold miners on the ASX are experiencing significant losses, with three of the five worst-performing stocks on the S&P/ASX 200 being gold producers. Regis Resources fell 7.1% to $1.97, Bellevue Gold dropped 5.8% to $1.90, and Emerald Resources decreased by 5.9% to $3.69. This decline follows spot gold’s largest one-day drop since April, falling 1.7% to approximately $US2379 after the US Federal Reserve’s meeting minutes suggested that rate cuts may be delayed. Meanwhile, copper prices steadied after reaching record highs earlier in the week.