Industrial Metals Update Aluminium still in comfortable supply Aluminium production in China is likely to continue to fall over the next few months as the Chinese authorities impose output cuts. While this would give the impression of a tighter market, Shanghai... 5th January 2018 · 1 min read
Metals Chart Pack Industrials outperform precious metals in 2017 The prices of most metals rallied in 2017, bolstered by strong Chinese economic growth, a weaker dollar and, in some cases, supply concerns. But, overall, industrial metals outperformed precious... 4th January 2018 · 1 min read
Metals Data Response Global Steel Production (Nov.) World Steel Association (WSA) data showed a 3.7% y/y increase in global steel production in November and a 5.2% rise in the year-to-date with all major steel-producing countries recording increases... 20th December 2017 · 1 min read
Metals Data Response Global Aluminium Production (Nov.) The latest output data for November point to a tighter aluminium market. We had always expected this to happen as the planned closures in China began last month. However, growth in demand has also... 20th December 2017 · 1 min read
Industrial Metals Update Lower stocks justify some of the strength in prices Total exchange stocks of most metals fell in 2017 on a combination of constrained supply and solid growth in China’s demand in the first half of the year. We expect stocks to build over the course of... 18th December 2017 · 1 min read
Commodities Weekly Metals return to the party It has been a good week for industrial metals, with prices rising on the back of data showing relatively stable industrial activity and solid growth in investment spending in China. The Fed’s rate... 15th December 2017 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Nov.) China’s latest activity and investment data point to more subdued metals demand than earlier in the year. Despite curbs on supply, we still think prices are reflecting undue optimism about demand. 14th December 2017 · 1 min read
Metals Chart Pack Metals starting to look vulnerable The prices of most metals fell in November, reflecting concerns about somewhat softer economic data out of China. The outlier was the ferrous sector, where prices surged on the prospect of Chinese... 5th December 2017 · 1 min read
Metals Watch Copper supply not a problem, for now There has been much chatter about an imminent tightening in the copper market, partly as a result of a shortfall in supply but also because of strong demand growth associated with the green economy... 5th December 2017 · 1 min read
Industrial Metals Update Will India’s steel industry continue to boom? India has experienced a period of uninterrupted growth in steel production for more than a decade, unmatched by any other major producer. But the country faces challenges in creating a competitive... 1st December 2017 · 1 min read
Metals Data Response Global Steel Production (Oct.) World Steel Association (WSA) data showed a 5.9% y/y increase in global steel production in October and a 5.3% rise in January-October, driven by growth in most of the largest steel-producing... 22nd November 2017 · 1 min read
Metals Data Response Global Aluminium Production (Oct.) The latest output data for October, released today, point to a tighter aluminium market. Whilst the planned closures in China could provide some support to prices over the coming months, growth in... 20th November 2017 · 1 min read
Industrial Metals Update Stocks suggest that demand is slowing Total exchange stocks of nearly all the metals have fallen since the start of the year, which goes some way to justifying the rally in prices. The exceptions are tin and copper inventories. However... 20th November 2017 · 1 min read
Industrial Metals Update Iron ore vulnerable even without steel output cuts Government-mandated steel production cuts in China this winter will exacerbate the decrease in demand for iron ore resulting from a weak construction sector and a slowdown in economic growth. As such... 17th November 2017 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Oct.) China’s October activity and investment data underpin our view that the economy started to slow in the second half of this year and point to softer growth in metals demand. 16th November 2017 · 1 min read
Commodities Weekly Political risks boost oil prices The price of oil jumped this week on rising tensions in the Middle East, which also lent some support to the gold price. In contrast, the prices of industrial metals fell, after strong gains a week... 10th November 2017 · 1 min read
