Market Digest
October 14, 2026
Last updated: 2026-10-14 20:05:00 UTC
About This Hub
TSM Hub™ is an open, primary-sourced reference for the global metals market.
Prices Prices on this site come from three primary venues: LBMA daily fix for precious metals (gold, silver, platinum, palladium), SHFE daily settlement for Chinese base metals, and LME 3-month forward (LME 3M) for international base metals, updated intraday during exchange hours. The LME Official Cash Settlement is published daily at lme.com directly. For minor metals, rare earths and battery materials priced by benchmark assessment rather than exchange settlement, we link out to the regulated benchmark administrators — Fastmarkets, Argus, S&P Global Platts — rather than republishing their assessments. Our exchange registry documents 30 regulated venues we track — MCX (India), DGCX (Dubai), SGE / INE / GFEX / DCE (China), OSE-TOCOM (Japan), MOEX, B3, JSE, BIST, IME and others.
Producers Producers — 697 entities in total — span five ownership categories, reflecting how the metal is actually produced today:
- Publicly listed companies (69.4% · 484) across major stock exchanges worldwide — HKEX, NYSE, NASDAQ, ASX, TSX, LSE, TSE / JPX, KRX, SSE, SZSE, B3, MOEX, JSE, BSE / NSE (India), BMV (Mexico), WSE (Poland), Nasdaq Nordic, Euronext, XETRA, FWB and others.
- Subsidiaries of listed parents (8.8% · 61), disclosed through the parent's filings.
- Private companies (13.5% · 94) — disclosing tonnage through annual reports, regulators, or industry filings.
- Major state-owned producers (4.7% · 33) where the listing concept does not apply.
- Delisted entities (0.4% · 3) still publishing operational data.
A further 11 (1.6%) remain under verification — visible on the site but flagged as pending until a primary source confirms ownership status. Each entry shows its ticker when one exists, the fiscal year, and a direct link to the filing or operational disclosure that confirms the tonnage. Every ownership count above is derived from the same publicly verifiable sources we link from each producer entry — TrueSource for the Hub itself.
Reserves Reserves and country production trace to USGS Mineral Commodity Summaries 2026, national geological surveys, and company filings.
Calculators 12 calculators cover daily metals work. The core four — unit price, purity, freight, and total cost of ownership (TCO) — convert between the units actually used in metals trade (troy ounce, metric ton, MTU, percent, ppm, karat) across all metals on the Hub. Others include the Insurance Premium Calculator; see also the How to Inspect surveyor guide. On-chain infrastructure covered by the Oracles directory.
What's Inside
- 61 metals
- 72 prices
- 697 producers
- Country reserves
- 1247 glossary terms
- News feed
- Calculators (unit price, purity, freight, TCO)
- 32-layer Atlas (reserves, producers, mines, ports, universities and more)
- 42 ecosystem layers (refiners, vaults, PRAs, exchanges, regulators)
- 60 universities · 295 academic programmes
- 21 industry programmes (LME, LBMA, AusIMM, CIM, CFA, MIT Sloan, Wharton, Oxford)
- Career Path Finder (4 tracks × 4 levels × 8 regions)
PRIMARY SOURCES ONLY. No generated encyclopedias. No AI summaries. No secondary aggregators. No user-edited sources. No estimates. TrueSource Metals™ uses primary channels and direct documents from original issuers, regulators, and official exchanges.
Free. No subscription. No signup. No ads. No paywalls. Every price, every producer, every reserve, every calculator.
Prices
Price sources. LBMA Fix (precious metals) and SHFE Settlement (Chinese base metals) are official daily benchmark values. LME prices shown are 3-month rolling forward (LME 3M) updated intraday during exchange hours — for the LME Official Cash Settlement, see lme.com directly. OTC and benchmark series may use different units. Last update: 2026-10-14 20:05:00 UTC. Full data sources →
SHFE Nickel Futures
All SHFE Nickel contracts — settlement prices
| Contract | Settlement (RMB/t) |
|---|---|
| See SHFE settlement prices above | |
SHFE Daily Data (public release, end-of-day, not real-time). Source: Shanghai Futures Exchange · October 14, 2026
LME Warehouse Stocks
Official LME daily on-warrant stock totals across all six base metals. Report date: 2026-10-13. End-of-day, not real-time.
| Metal | LME Stocks | Daily Change |
|---|---|---|
| Copper | 229,650 t | -1,625 t |
| Aluminium | 238,625 t | 0 t |
| Zinc | 138,400 t | +5,550 t |
| Lead | 341,825 t | -3,725 t |
| Nickel | 282,504 t | +276 t |
| Tin | 4,180 t | -70 t |
| Combined (6 base metals) | 1,235,184 t | +406 t |
About these figures
LME on-warrant stocks measure the physical metal stored in LME-approved warehouses worldwide (Rotterdam, Singapore, Busan, Port Klang, Antwerp, New Orleans and others) that is available for delivery against LME futures contracts.
Cancelled warrants are metal earmarked for withdrawal from the warehouse.
Location breakdown, cancelled warrants, and historical series are published daily by the LME Stock Reports page.
Other exchanges (SHFE, COMEX) — official sources
- Shanghai Futures Exchange (SHFE) publishes weekly on-warrant stocks for copper, aluminium, zinc, lead, nickel, tin and steel each Friday in Chinese local time. Official page: SHFE Weekly Stock Report.
- CME Group (COMEX & NYMEX) publishes daily warehouse stocks for gold, silver and copper. Official page: CME Gold Stocks, Silver Stocks, Copper Stocks.
- Shanghai Bonded Warehouse copper stocks (separate series, not part of SHFE on-warrant) are published weekly by Chinese physical-market PRAs.
SHFE and COMEX warehouse data are available on the originating exchanges via the links above.
Sources: London Metal Exchange (originating) via Westmetall (public LME mirror) · Last updated: 2026-10-14 20:05:58 UTC · Full warehouses page & history → · View warehouses on Atlas →
Latest Market News
Filter by metal or topic. Updated with each Hub refresh.
How we tier news sources — click to see methodology
Every article surfaced here is automatically classified by source into one of four editorial trust tiers. Tier assignment runs on source domain and is fully transparent — no human reweighting. Articles failing all four whitelists or matching block-lists never appear.
- T0 Primary sources. Exchanges (LME, COMEX, SHFE, LBMA, SGX), governments (USGS, BGS, JOGMEC, MOFCOM), regulators (SEC, ESMA, MAS, SFC, VARA), industry associations (ICSG, INSG, World Steel). Also producer disclosures — IR releases, HKEX/SEC filings from listed miners and smelters.
- T1 Global news agencies. Reuters, Bloomberg, Financial Times, Wall Street Journal, Associated Press, Nikkei Asia, Dow Jones. Direct reporting with editorial standards and multi-source verification.
- T2 Specialist trade press. Mining.com, Kitco, S&P Platts, Argus, Fastmarkets, Shanghai Metals Market, Metal Bulletin, Northern Miner, MetalsFocus. Domain expertise on commodities, mining and metals processing.
- T3 Whitelisted aggregators & opinion. CoinDesk, The Block, Ledger Insights, Investing.com, Economic Times. Useful for sentiment and discovery; ranked last and filtered out under stricter views.
Auto-deny (news ticker only): generic press-release wire services as a news source, retail price-listing pages, and any domain not on the four whitelists. Articles also drop on duplicate-title detection and on age > 5 days. Producer companies’ own filings hosted on wire services remain valid primary sources and are cited per-entry on the producers page.
Refreshed multiple times every business day. Full source list and editorial principles: www.truesourcemetals.com/sources#news-tiers.
Last refreshed: 2026-10-14 20:06:14 UTC · Browse full archive → (10,254 articles since 13 April 2026, filter by metal/stage/date)
Reserves & Production by Country
Global reserves and mine production by country — primary data from USGS Mineral Commodity Summaries 2026. 25 metals, 631 country entries. All figures reported as published by original source — TrueSource does not modify, estimate, or interpret primary data. e = Estimated. W = Withheld. NA = Not available. — = Zero.
Data: U.S. Geological Survey, 2026, Mineral commodity summaries 2026. https://doi.org/10.5066/P1WKQ63T. Uranium data from World Nuclear Association. Production years 2024 (actual/estimated) and 2025e (estimated). Reserves as of publication date.
Glossary
Backed by official documentation: ICC, LME, LBMA, USGS, ISO, IFRS, BIPM, EU TAXUD, US CBP, OECD, IMO, IGF, Fastmarkets, CFA Institute. One True Source for All — every definition links to its reference where available.
Open GlossaryProducers Directory
Global metals producers — verified data from official sources. 840 entries across 41 metals. Company websites link to official domains only. Production figures are published as reported by original sources (company annual reports, regulatory filings, industry publications) — formats vary by source. TrueSource does not modify, estimate, or interpret primary data.
Producer data compiled from public sources including USGS Mineral Commodity Summaries, World Steel Association, and company annual reports. Links verified as of April 2026. Some regional websites may have restricted access depending on your location. For corrections or updates, contact [email protected]
Our Data Sources
Our Sourcing Rule
Every figure on TSM Hub links to its primary document.
- One source per figure. Each production, reserve, recycling, or price figure links directly to its primary document — an exchange or benchmark publisher (LME, LBMA, SHFE), a government statistical agency (USGS, IEA), an industry factbook (ICSG, WGC, IAI), or a company's annual report.
- No modification. We report figures exactly as published by the original source. We do not adjust, estimate, or interpret.
- No source, no figure. If a figure cannot be linked to a primary document, it does not appear on TSM Hub.
Production & Reserves
USGS Mineral Commodity Summaries
U.S. Geological Survey. Covers 90+ commodities with country-level detail. Published annually in January.
World Nuclear Association
Uranium production and reserves data (drawing on OECD NEA / IAEA "Red Book"). Used for uranium, which is not in USGS MCS.
US Department of the Interior — Critical Minerals List 2025
Final 2025 List of Critical Minerals (Federal Register, 7 November 2025): 60 critical minerals. Source of critical-mineral designations on metal pages.
Exchange & Benchmark Prices
London Metal Exchange (LME)
Official settlement prices for base metals: copper, aluminium, zinc, nickel, tin, lead, cobalt, molybdenum. Reported in USD/t. Also publishes daily on-warrant warehouse stocks reports across LME-approved storage worldwide.
London Bullion Market Association (LBMA)
Official fix prices for precious metals: gold, silver, platinum, palladium. Administered by IBA. Reported in USD/oz.
Shanghai Futures Exchange (SHFE)
Chinese futures for copper, aluminium, zinc, nickel, tin, lead, gold, silver and steel rebar. Reported in RMB/t.
HKEX — Hong Kong Exchanges and Clearing
Parent group of LME since 2012. Operates HKEX, LME and LME Clear.
Market News
Curated headlines from leading metals and commodities publications. Every article links directly to its original publisher — Reuters, Bloomberg, Mining.com, S&P Global, Fastmarkets and others. No summaries, no rewrites, no editorial commentary.
HK & Asia Regulators
HKMA — Hong Kong Monetary Authority
Stablecoins Ordinance (Cap. 656, in force 1 Aug 2025). Project Ensemble (wholesale CBDC). Regulatory framework for tokenized assets in HK.
SFC — Securities and Futures Commission HK
Virtual Asset Service Provider (VASP) regime. Tokenized securities framework. Hong Kong regulator for digital assets.
MAS — Monetary Authority of Singapore
Payment Services Act 2019. Project Guardian (tokenization pilots).
Global Regulators & Standards
EUR-Lex — MiCA Regulation (EU 2023/1114)
EU Markets in Crypto-Assets Regulation. Applies from 30 Jun 2024 (ART/EMT) and 30 Dec 2024 (CASPs).
SEC — U.S. Securities and Exchange Commission
Howey test framework. Enforcement decisions on token classification. US securities regulator.
FATF — Financial Action Task Force
Recommendation 15 (VASPs) and Travel Rule. Global AML/CFT standards adopted by 200+ jurisdictions.
FSB — Financial Stability Board
Global Regulatory Framework for Crypto-Asset Activities (July 2023). G20-endorsed high-level recommendations.
BIS / BCBS — Bank for International Settlements
Basel Committee SCO60 standard on cryptoasset exposures. Working papers on tokenization (WP 1066). Central-bank standards body.
IOSCO — International Organization of Securities Commissions
Policy Recommendations for Crypto and Digital Asset Markets (PD734, Nov 2023). International body of securities regulators.
Technical Standards
Ethereum Improvement Proposals (EIPs)
Official repository for Ethereum token standards: ERC-20, ERC-721, ERC-1155, ERC-3643 (permissioned), ERC-4626 (tokenized vaults).
NIST — National Institute of Standards and Technology
FIPS 180-4 (SHA-256) and NIST IR 8202 (Blockchain Technology Overview). Cryptographic standards.
LBMA Fix (precious metals) and SHFE Settlement (Chinese base metals) are official daily benchmark values. LME prices shown on this site are 3-month rolling forward (LME 3M) updated intraday during exchange hours — for the LME Official Cash Settlement, see lme.com directly. News articles are sourced from public feeds with full attribution to original publishers. For questions about our data methodology, contact [email protected]