Top Commodities That Are Expected to Rule in 2023

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Stockhead has surveyed to know which commodities will perform best in 2023. The survey was done on Twitter, and 517 respondents participated.

30.2% best engaged ASX investors expect copper to reap its success with metals like silver, uranium, and gold.

20% perceived that lithium would also be on the list.

Peak Asset Management Executive Director Niv Dagan shared his take on the following year’s commodities. He said that graphite is one of the biggest hits in 2023 — “huge supply-demand deficit and is the biggest input into batteries”.

Along with graphite, he said phosphate and uranium would also be on the list. Aside from that, he has his picks on the companies that will have a brighter 2023. The following are Volt Resources (ASX: VRC), Avenira (ASX: AEV), and Terra Uranium (ASX: T92).

“Tesla is already using (LFP) in half its fleet, LFP (is) stronger, safer and cheaper,” Dagan said about LFP cathode batteries.

Additionally, Gavin Wendt, MineLife Analyst, affirmed Dagan’s belief in the booming of battery materials and gold. His picks on the companies are Anova Metals, PolarX, Great Boulder Resources, Altech Chemicals, RareX, and DevEx Resources.

“The Mulga Bill prospect at Side Well is continuing to deliver a series of extremely high-grade gold intersections, demonstrating its potential to be a company-making deposit in the medium term,” he stated.

Moreover, the VP Capital co-founder and portfolio manager John So said, “significant amounts of copper will be required in most hardware and infrastructure that the world needs to achieve (the) net zero target.”

“This will drive demand. Most of the quality higher grade large copper mines in the world have already been discovered, which will limit supply.

“You’re also buying copper as a proxy for a relaxation of China Covid-19 policies in time.”

He predicts increased demand for Sandfire Resources, 29Metals, Allkem, Core Lithium, and Liontown Resources.

“While lithium commodity prices have run very high, they will likely be sustainable as long as government subsidies for electric vehicles remain throughout 2023,” So added.

According to Hedley Widdup of the Lion Selection Group, cash and gold will be essential, along with enterprises such as Great Boulder Resources and Legacy Minerals.

Far East Capital chairman Warwick Grigor believes many commodities will succeed, but he emphasises copper, antimony, energy, and gold in particular. Among the companies he mentioned were Emerald Resources, Cyprium Metals, Celsius, Hillgrove Resources, West Wits Mining, Nagambie Resources, and Theta Gold Mines.

Finally, Shaw and Partners WA state manager and Director of Corporate Finance Davide Bosio mentioned rare piles of earth and gold. He expected companies like Black Cat Syndicate and Dreadnought Resources to thrive.

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