Industrial Metals Update Fed drives a wedge between metals prices The performance of industrial and precious metals prices has diverged in the last month. Industrial metals have benefited from more positive economic data out of China while precious metals have... 20th October 2016 · 1 min read
Industrial Metals Update Recent fall in stocks suggests metals markets are tightening Exchange stocks of metals have fallen across the board over the past month. In most cases, dwindling mine supply, rather than strong demand, was responsible for the decline. While there might well be... 13th October 2016 · 1 min read
Industrial Metals Update Nickel prices on increasingly shaky ground The price of nickel has had a good run, but ultimately stocks are high, demand is unexciting albeit solid and supply prospects may improve. As such, we suspect that prices will struggle in the near... 10th October 2016 · 1 min read
Industrial Metals Update Resilient Chinese economy supports prices Industrial metals prices have profited in the last month from relatively upbeat economic data out of China as well as the Fed’s decision not to raise interest rates just yet. We expect China’s economy... 29th September 2016 · 1 min read
Industrial Metals Update What do higher coking coal prices mean for iron ore? The recent doubling of coking coal prices has been cited as good news for the price of iron ore. However, we think quite the contrary. A supply shock has underpinned the rally in coking coal prices... 26th September 2016 · 1 min read
Industrial Metals Update China’s metals imports remained subdued in August August was another weak month for China’s metals imports. In some cases, lower supply and higher prices have weighed on import volumes. However, relatively soft underlying demand could have also... 22nd September 2016 · 1 min read
Industrial Metals Update China Industrial Metals Output Monitor (Jul./Aug.) Detailed Chinese industrial production figures for August paint a mixed picture of refining activity. While refined copper production was growing strongly, there were sharp downturns in tin and nickel... 20th September 2016 · 1 min read
Industrial Metals Update Rising stocks weigh on copper prices The ongoing surge in LME copper stocks was the key development last month and contributed to renewed bearish sentiment towards the metal. In contrast, stocks of all the other metals have fallen over... 15th September 2016 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Aug.) Metals prices received a boost today as August activity data out of China surprised on the upside. There is now clear evidence that the monetary and fiscal stimulus enacted earlier in the year is... 13th September 2016 · 1 min read
Industrial Metals Update Investor sentiment sours The prices of most metals fell last month, undermined by some strengthening of the US dollar as a result of renewed expectations that the Fed will raise interest rates sooner rather than later. The... 1st September 2016 · 1 min read
Industrial Metals Update Subdued demand bolsters stocks The big news in the last month has been a sharp move up in exchange stocks of copper and a renewed slump in tin inventories. However, the bigger picture is that exchange stocks of metals have not... 31st August 2016 · 1 min read
Industrial Metals Update Higher zinc prices could prove self-defeating The zinc market has tightened sharply this year mostly owing to mine closures and production cutbacks. While we expect the market to move deeper into deficit next year, we think that there is an... 30th August 2016 · 1 min read
Industrial Metals Update EU trade deal unlikely to revive Indonesia’s tin exports Some have argued that a new trade deal between the EU and Indonesia may arrest the decline in the latter’s exports of tin. However, structural issues constraining tin exports mean that it is unlikely... 25th August 2016 · 1 min read
Industrial Metals Update China’s metals imports dip in July China’s metals imports fell last month. This was not totally unexpected as the strength of imports earlier in the year had seemed at odds with relatively subdued underlying demand. Higher prices for... 24th August 2016 · 1 min read
Industrial Metals Update China Industrial Metals Output Monitor (Jun./Jul.) Detailed Chinese industrial production figures for July show how mine supply can offset price movements in determining refined production. The ability of smelters to respond to the rallies in zinc and... 19th August 2016 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Jul.) This is a new monthly publication in which we assess the strength of demand in the world’s largest consumer of metals. We are also introducing our Capital Economics Steel Demand Proxy, to help inform... 17th August 2016 · 1 min read
