Industrial Metals Update Key calls for metals in 2021 After staging a stellar recovery in 2020, there is considerable momentum in metals prices as we embark on the new year. That said, while prices may rise further in the near term, we think that they... 13th January 2021 · 3 mins read
Industrial Metals Update Iron ore market to swing into a surplus next year The price of iron ore has skyrocketed recently, to over $155 per tonne. However, we think that the price will decline in 2021 as demand in China weakens at a time of rising supply. 18th December 2020 · 2 mins read
Industrial Metals Update The upside risks to our 2021 price forecasts We think that industrial metals prices will ease back in 2021 primarily because we expect growth in China’s demand to slow. However, we acknowledge that there are some upside risks to our price... 17th December 2020 · 3 mins read
Industrial Metals Update Taking stock of 2020 After rising steadily in the first half of the year as virus-containment measures curbed metals consumption, exchange stocks have since started to be drawn down. While this tallies with the robust... 15th December 2020 · 5 mins read
Industrial Metals Update Metals prices to run out of steam, despite vaccine We think that the withdrawal of fiscal stimulus in China will offset any vaccine-induced boost to metals demand in 2021. And with supply bouncing back, we expect the prices of industrial metals to dip... 27th November 2020 · 3 mins read
Industrial Metals Update New copper contract could shift pricing power to China The launch of a new copper futures contract in China should help shift pricing power in metals markets towards Asia, but the contract will not immediately become a new global benchmark. 25th November 2020 · 3 mins read
Industrial Metals Update China metals demand to taper off in 2021 Ongoing policy stimulus in China should continue to boost investment and industrial output in the coming months. However, we expect economic activity to gradually slow by end-2021 which is why we... 18th November 2020 · 3 mins read
Industrial Metals Update Political gridlock will rein in any Green New Deal The apparent failure of the Democratic Party to win a ‘clean sweep’ in this week’s US election means that many of the policy initiatives and spending proposals made by presidential hopeful, Joe Biden... 6th November 2020 · 3 mins read
Industrial Metals Update Strong Asian electronics exports to support prices The recent strength in Asian exports reflects sustained growth in global electronics demand, which has been a factor underpinning the recent rally in industrial metals prices. We expect electronics... 4th November 2020 · 2 mins read
Industrial Metals Update Weighing up the relative prospects for energy & metals We think that energy commodities will claw back a bit of the ground that they have lost relative to industrial metals over the next two years or so, as some cyclical factors linked to COVID-19 which... 3rd November 2020 · 4 mins read
Industrial Metals Update China’s five-year plan is too barebones to move prices Commodity prices have largely shrugged off the conclusion of China’s Fifth Plenum and discussion of the 14 th Five-Year Plan (FYP). This is not so surprising as the main takeaway from the event is... 30th October 2020 · 3 mins read
Industrial Metals Update China’s economic activity boom to support prices The rapid bounce-back in construction and industrial activity in China, reflected in our revamped China Activity Proxy, looks set to continue in the coming months as additional fiscal support is... 22nd September 2020 · 2 mins read
Industrial Metals Update US steel price to make further gains The price of US steel has surged recently, and we think that the price will continue to rise in the year ahead as demand picks up at a time of constrained supply. 15th September 2020 · 3 mins read
Industrial Metals Update Iron ore price rally to peter out in 2021 A combination of strong demand from China and a slow recovery in global production from its virus-related trough means that the price of iron ore is likely to remain elevated for the remainder of this... 11th September 2020 · 3 mins read
Commodities Update Staying positive on industrial metals Most industrial metals prices are now above their pre-virus levels, after rallying from their March lows. We reckon that the price rebound has further to go, as China’s impressive economic revival... 10th September 2020 · 3 mins read
Industrial Metals Update Still plenty of reasons to be positive on nickel We expect the price of nickel to make further gains between now and the end of 2021. The ongoing rise in the production of stainless steel in China will be the main factor supporting demand, while the... 14th August 2020 · 4 mins read