Metals Data Response Global Aluminium Production (Feb.) Global aluminium production has stuttered so far in 2019, but we think that this will merely be a lull, as new capacity comes on stream and pollution controls end in China. 20th March 2019 · 1 min read
Commodities Weekly Prices can’t keep ignoring the data The prices of many commodities rose this week, despite soft economic data, in part owing to confirmation of Chinese policy stimulus at the National People’s Congress. As it happens, we think the scale... 15th March 2019 · 1 min read
Industrial Metals Update Nickel set to lose its star performer tag Nickel prices have surged since the start of this year, but we think that this leaves the metal particularly vulnerable to the global economic slowdown and higher output. 14th March 2019 · 1 min read
Metals Watch Platinum ETF holdings to increase to record high In stark contrast to recent years, investors have been drawn to platinum so far in 2019. As a result, ETF holdings have risen by more than a sixth in just two months and are rapidly approaching the... 12th March 2019 · 1 min read
Industrial Metals Update Trade deal will not prevent prices falling Industrial metals prices have risen robustly this year, but we think that the rally is running out of steam. Even if a US - China trade agreement is reached, a slowdown in global growth and an... 7th March 2019 · 1 min read
Metals Chart Pack Risk appetite likely to fade Increasing signs of a US-China trade deal prompted a return of risk appetite and led to the prices of many industrial metals hitting multi-month highs and a sell-off in gold and silver. However, even... 6th March 2019 · 1 min read
Metals Data Response Global Steel Production (Jan.) Today’s data show global steel output stuttered out of the starting blocks at the beginning of 2019 and we expect output growth to remain lacklustre this year. 26th February 2019 · 1 min read
Metals Data Response Global Aluminium Production (Jan.) Global production growth plummeted in January, but given that input costs are falling, we think that output growth will recover later this year. 20th February 2019 · 1 min read
Commodities Update Iron ore price to tumble, but not yet We have revised up our iron ore price forecast following the disaster at the Córrego do Feijão iron ore mine and its aftermath, given the negative implications for supply. However, with demand set to... 20th February 2019 · 1 min read
Metals Watch Prices to fall, despite low exchange stocks Exchange stocks in most base metals have slumped over the past year. Typically, this is associated with strong demand or weak supply growth, and results in higher metals prices. In this Metals Watch... 19th February 2019 · 1 min read
Metals Focus Can copper return to $10,000? Constrained supply growth and surging demand from electric vehicles mean that we think that the price of copper will rise by over 60%, to nearly $10,000 per tonne, by 2025. This is likely to represent... 14th February 2019 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor China’s industrial activity data suggest that metals demand held up well in the last quarter of 2018, but we don’t expect this to last in 2019 as a downturn in economic activity will weigh on demand. 7th February 2019 · 1 min read
Metals Chart Pack Widespread rally, but too good to last Prices of base and precious metals, along with iron ore, have risen robustly so far in 2019 but we believe that prices will diverge sooner rather than later. We expect the prices of industrial metals... 5th February 2019 · 1 min read
Industrial Metals Update Iron ore prices unlikely to stay elevated for long In light of a tragic accident in Brumadinho, we are revising up our iron ore price forecasts for this year and next in anticipation of weaker-than-expected Brazilian output. However, we are still of... 28th January 2019 · 1 min read
Metals Outlook Industrial metals to fall further, before 2020 rebound Global demand growth is set to slow to its weakest pace since the global financial crisis, causing investor sentiment towards industrial metals to deteriorate. Both of these factors should drag... 28th January 2019 · 1 min read
Metals Data Response Global Steel Production (Dec.) Today’s data suggest that rapid increases in global steel output in 2018 are not set to be repeated in 2019. We think demand weakness will be a drag on prices and production this year. 25th January 2019 · 1 min read
