LME Week 2025 Summary

LME Week 2025 delivered as much excitement as always. Though the week before LME there was an outbreak of stability, White House tariffs and China's rare earths restrictions reminded us why planning for disruption matters. Despite the turbulence and uncertainty, the mood was upbeat with "higher for longer" heard in conversations. Four themes emerged: geopolitical uncertainty and higher risk premiums; China's critical pivot as it matures; the enduring energy transition; and supply facing simultaneous feast and famine. Metals face a delicate balancing act. Success demands flexibility as shifting trade, new supply regions, and emerging tech reshape the landscape. To find out more, please read our summary of key messages across various metals markets gathered during the week.