Manganese, REE & Graphite outperform, Vanadium lags
The global equity market was again in positive territory in May as it continued its recovery from March lows. Performance was not quite so stellar as in April (+10%) but +4% was still a positive trend. Materials sectors outperformed the wider market, with raw materials in particular a strong performer. The battery materials sector was particularly robust, with the Global X Lithium & Battery Tech ETF up 12% and the Solactive index up 8%. Many individual Material baskets, however, were stronger outperformers, with our Manganese, REE and Graphite equity baskets leading the way.