The month of September saw most commodities struggle to hold ground, with both supply and demand side fears causing uncertainty within the broader commodities market. Notable movements included.

• LNG experienced a 28% decrease through September, driven primarily by greater European imports of gas and increases in EU gas storage levels, which currently sit at more than 88% full. Expectations are for tighter prices as Europe enters winter and its storage begins to deplete.
• Zinc finished 15% lower from the previous month, due to curtailed production capacity across Europe due to the current energy crisis for the region, resulting in less ability to smelt zinc. China’s stagnant property sector has further resulted in lower demand for zinc.
• Oil prices fell 10% during September due to declining demand, despite a late spike in prices following the rupturing of the Nord Stream pipelines in Europe and decreasing inventories in the US.

The top Deloitte WA Index Movers and Shakers in September were:

Mallee Resources Limited (ASX: MYL) saw an increase in market capitalisation of 89.4% following the announcement of the completion of a $7.7m capital raising, which the company purports, will enable them to fund the final stages of the development of its Avebury nick project.

Global Lithium Resources Limited (ASX: GL1) increased its market capitalisation by 27.9%, to close at $442.49 million following the announcement of high-grade lithium intercepts at its Manna Project, with several mineralised trends extending over a 5km x 1.5km area. In addition, Mineral Resources (ASX: MIN) announced that it was increasing its holdings to 8% of GL1, news that the market reacted positively to.

Lindian Resources Limited (ASX: LIN) market capitalisation increased 22.6% to close September at $275.71 million. During the month, shareholders voted in support of the acquisition of the Kangankunde Rare Earths Project in Malawi. The project will provide LIN the chance to diversify its existing Bauxite focus in Guinea.