Four categories, thirty-two metals. Each line will have its own logistics and its own reason to exist. None of them is a live ALVIE quote.
Public snapshots from Kitco / gold-api / Westmetall / delayed COMEX where present. Not ALVIE quotations. Assessments marked assessment. Dead series tagged. No ALVIE volume.
Au · Traditional
Gold
The reserve asset of the book we intend to run. Refined bullion and dore, between accredited refiners, vaults and central-bank counterparties.
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Ag · Traditional
Silver
Half precious metal, half industrial input. Among the more volatile lines on the intended book.
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Cu · Traditional
Copper
The electrification trade. Every grid upgrade, data centre and EV platform is a copper order.
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Fe · Traditional
Iron Ore
The largest intended tonnage by an order of magnitude, contracted against index-linked pricing — when there is a book.
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Al · Traditional
Aluminium
Energy in solid form, at roughly 14 MWh a tonne. Priced against power curves as much as metal curves.
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Zn · Traditional
Zinc
A corrosion trade. Most of the world’s zinc still galvanises steel that has to survive outdoors.
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S · Traditional
Sulphur
Fertiliser feedstock and acid. Not glamorous. The plant does not run without it.
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C · Traditional
Carbon
Calcined petroleum coke and needle coke. The anode and the electrode.
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Co · Traditional
Coal
Thermal and metallurgical. On the intended book with a hard rule: no new thermal agreements. Metallurgical coal is a steel input, not a slogan.
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Li · Energy
Lithium
Battery-grade carbonate and hydroxide. Chemistry first, then the tonne.
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Co · Energy
Cobalt
Cut cathode, briquette, sulphate. A battery metal with a concentration-of-supply problem.
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Ni · Energy
Nickel
Class 1 briquette, MHP, matte. Stainless still takes most of it; batteries take the argument.
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C · Energy
Graphite
Flake concentrate and spherical coated. Anode, not a pencil.
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Mn · Energy
Manganese
High-purity sulphate and electrolytic metal. Steel and the sulphate battery chain.
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REE · Energy
Rare Earths
NdPr oxide, separated Dy and Tb. Magnets, not a basket ticker.
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W · AI / Semiconductor
Tungsten
APT, powder, carbide. Density, heat, and cutting tools — including the ones that cut wafers.
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Mo · AI / Semiconductor
Molybdenum
Oxide briquette, ferromoly, sputtering target. Steel strength and a thin-film line.
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Ga · AI / Semiconductor
Gallium
Primary gallium ingot, 7N. Compound semiconductors.
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Ge · AI / Semiconductor
Germanium
Zone-refined metal, GeO2, GeCl4. Fibre and IR.
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In · AI / Semiconductor
Indium
Refined ingot, ITO target. Displays and a thin solar chain.
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Ta · AI / Semiconductor
Tantalum
Ta2O5 and capacitor-grade powder. Conflict-mineral rules are not optional copy.
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Nb · AI / Semiconductor
Niobium
Ferroniobium and high-purity oxide. Pipeline steel and superconductors.
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Pd · AI / Semiconductor
Palladium
Sponge, ingot, 99.95%. Auto-catalyst and electronics.
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Pt · AI / Semiconductor
Platinum
Sponge, ingot, 99.95%. Catalyst, glass, and the hydrogen story that still needs ounces.
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Ru · AI / Semiconductor
Ruthenium
Sponge, sputtering target. Small ounces, hard to replace in some recipes.
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Ir · AI / Semiconductor
Iridium
Sponge, crucible stock. The metal the PEM electrolyser argument actually consumes.
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HPA · AI / Semiconductor
High Purity Alumina
4N and 5N Al2O3 powder. Synthetic sapphire and lithium-ion separators.
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Te · Critical
Tellurium
Refined metal, 4N. A copper-anode slime with a solar bid.
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Sb · Critical
Antimony
Ingot, trioxide. Flame retardant, and a metal on export-control lists.
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Bi · Critical
Bismuth
Ingot, 99.99%. The non-lead that still behaves like a minor metal.
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Mg · Critical
Magnesium
99.9% ingot and alloy. Structural light metal with a power-hungry plant.
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Pb · Critical
Lead
99.97% ingot. Unfashionable, specified, still in the battery that starts the car.
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Traditional: precious, base and bulk — the tonnage that funds everything else. Energy: batteries, magnets, power. AI / Semiconductor: compute, power electronics, high-purity process kit. Critical: export controls, substitution risk, strategic lists. Full specifications on the book.