Industrial Metals Update Has the zinc rally further to go? The price of zinc has surged in recent months, primarily on better prospects for steel demand. But while fundamentals are moving in the right direction and we expect the market to be in deficit this... 8th August 2016 · 1 min read
Industrial Metals Update China Industrial Metals Output Monitor (May/Jun.) Detailed Chinese industrial production figures for June show that output of most industrial metals increased on the month. While the general rally in metals prices has offered incentives to boost... 3rd August 2016 · 1 min read
Industrial Metals Update Investors turn positive on industrials After dipping in the wake of the UK’s vote to leave the EU (Brexit), the prices of most industrial metals have rallied strongly since. They have shrugged off disappointing economic news out of China... 28th July 2016 · 1 min read
Industrial Metals Update Off-exchange stocks may plug any gaps LME metal stocks have fallen since the start of the year, while for the most part ShFE stocks have risen. However, summing stocks on all the major exchanges, the big moves have been a 25% drop in... 26th July 2016 · 1 min read
Industrial Metals Update Higher prices could dampen China’s metals imports June was another strong month for China’s metals imports. In some cases, volumes dipped, but this may have been a response to rising prices rather than a sign of weaker underlying demand. 21st July 2016 · 1 min read
Industrial Metals Update The nickel price rally could lose steam The price of nickel has surged in recent weeks, primarily on concerns about lower supply due to greater regulation of ore mining in the Philippines. However, stocks remain high and demand is subdued... 18th July 2016 · 1 min read
Industrial Metals Update Aluminium demand is stronger than often thought We are now even more positive on aluminium demand in the near-term, based partly on our new Capital Economics Demand Proxy, but believe that supply growth will put a lid on prices by end-year. 4th July 2016 · 1 min read
Industrial Metals Update A more subdued outlook for China’s copper demand Following downward revisions to our projections for China’s growth, we are also nudging down our forecast for the price of copper. Despite sizeable policy stimulus in China, it has become apparent... 29th June 2016 · 1 min read
Industrial Metals Update China’s metals imports treading water China’s metals import demand in May remained robust but down from the highs reached in March. In some cases, lower supply and higher prices are acting as constraints on import volumes. 21st June 2016 · 1 min read
Industrial Metals Update Iron ore prices have further to fall The price of iron ore appears to have stabilised around $50 per tonne, after a dramatic run-up earlier this year. But we think prices will continue to ease back given oversupply and waning demand. 17th June 2016 · 1 min read
Industrial Metals Update Industrial and precious metals prices diverge The commodity price indices have risen in the last month, encouraged by rising oil prices and by a scaling back of expectations for US interest rate rises which in turn has weakened the dollar. But... 16th June 2016 · 1 min read
Industrial Metals Update What next for tin? The price of tin has risen since the start of the year in large part owing to temporary bottlenecks. However, we think the price gains will prove sustainable given more long-term constraints on supply... 8th June 2016 · 1 min read
Industrial Metals Update Stocks look comfortable, for now Exchange stocks of most metals have been falling. The exceptions are lead and tin stocks which have jumped recently, from a low starting point. The ease with which stocks of these two metals have been... 6th June 2016 · 1 min read
Industrial Metals Update Cobalt prices should benefit from strong demand We have been positive on the outlook for cobalt demand for some time but, if anything, prospects are continuing to improve. Lithium-ion batteries, the majority of which contain cobalt, are rapidly... 31st May 2016 · 1 min read
Industrial Metals Update Turning bearish on lead demand Back in February we said that we were cautiously positive on lead demand this year and next. While we remain confident about a tighter supply outlook, we now believe that lead’s demand prospects are... 23rd May 2016 · 1 min read
Industrial Metals Update China’s metals import demand remained strong in April The volume of China’s metals imports generally eased back last month from their March highs, but were still buoyant. With copper stocks starting to fall, signs of a cyclical pick-up in the economy and... 23rd May 2016 · 1 min read
