Metals Data Response Global Steel Production (Jan.) China continued to prop up global steel production growth in January, though output growth in the US and Japan also improved. However, January’s data fail to fully reflect the impact of measures to... 25th February 2020 · 2 mins read
Metals Data Response Global Aluminium Production (Jan.) After falling for the first time in a decade in 2019, global aluminium production started 2020 on a better footing. In contrast to other metals, we don’t think coronavirus containment measures will... 20th February 2020 · 2 mins read
Industrial Metals Update Perception the key to cobalt’s future There is potential for cobalt’s end-use in electric vehicle batteries to grow rapidly. However, concerns over the concentration of cobalt supply in the DRC have held back demand so far. Several auto... 18th February 2020 · 4 mins read
Industrial Metals Update Supply cutbacks in China look increasingly likely Measures to contain the spread of coronavirus in China have already dealt a heavy blow to metals demand. But the longer China’s economy remains part-suspended, the greater the chance that supply is... 13th February 2020 · 3 mins read
Metals Chart Pack Hoping for some better times ahead Signs of a recovery in industrial commodity demand were emerging at the beginning of 2020. Indeed, the economic data have improved and investor concern surrounding the US-China trade war has eased... 6th February 2020 · 7 mins read
Metals Outlook Recovery still base case, but coronavirus big risk A sharp decline in China’s economic growth in Q1 as a result of the coronavirus outbreak now seems certain. This will be a significant negative for metals demand, as China is the world’s single... 5th February 2020 · 18 mins read
Commodities Chart Pack Virus fears to drive prices for some time yet Commodity prices, and energy prices in particular, have been hard hit by the outbreak of coronavirus in China and the prospect of lower global commodities demand. There is still too much uncertainty... 4th February 2020 · 7 mins read
India Chart Pack Populist shift a risk for long-run outlook The citizen amendment bill – which aims to fast-track citizenship for non-Muslims from neighbouring Muslim-majority countries – has dominated the news over the past couple of weeks. This isn’t... 18th December 2019 · 9 mins read
India Chart Pack Services holding up better than industry Q3 GDP data due next week are likely to show a further slowdown in India’s economy, with the industrial sector the main source of weakness. However, some comfort can be taken from the fact that the... 22nd November 2019 · 9 mins read
Metals Data Response Global Steel Production (Jul.) July’s slowdown in steel production was probably a sign of things to come given environmental restrictions, squeezed margins and soft demand in China. Nonetheless, steel prices look set to fall... 27th August 2019 · 3 mins read
Industrial Metals Update Lead price rally to go into reverse We think that a recovery in refined lead production, ailing demand, and elevated trade tensions should cause the price of lead to drop by almost 15% by end-2019. 23rd August 2019 · 3 mins read
Metals Data Response Global Aluminium Production (Jul.) Global aluminium production remained in the doldrums in July. We had previously expected smelter ramp-ups and lower input costs to spur a recovery in China’s output in the second half of 2019. But... 20th August 2019 · 2 mins read
Industrial Metals Update Copper caught up in the global malaise Copper prices are hovering near two-year lows, reflecting investor concerns about the outlook for global growth. While dwindling mine supply should put a floor under prices, deteriorating investor... 16th August 2019 · 2 mins read
Industrial Metals Update Cobalt prices to soar Glencore’s decision to temporarily close the world’s largest cobalt mine by the end of this year has given cobalt prices a shot in the arm. As a result, the price of cobalt could rally by more than 60... 13th August 2019 · 3 mins read
Industrial Metals Update Nickel’s rally is premature Nickel prices have surged in recent weeks, owing to optimism over future demand from the electric vehicle sector and speculation that Indonesia’s ban on nickel ore exports could be brought forward... 9th August 2019 · 4 mins read
Industrial Metals Update Back to normality for iron ore Iron ore prices have plunged by a sixth so far in August and we think that rebounding output and slower Chinese demand growth will mean that prices will fall by a further 20% to $80 per tonne by end... 7th August 2019 · 3 mins read
