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
Metals Data Response Global Aluminium Production (Jun.) According to the International Aluminium Institute, global primary aluminium output declined by 1.2% y/y. However, daily average production continues to recover in response to rising prices. 20th July 2016 · 1 min read
Commodities Update Commodities benefit from greater risk appetite The metals, both industrial and precious, have been the star performers this month as investor sentiment improved. Meanwhile, the return of supply that had been lost to unanticipated outages weighed... 19th 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
Metals Watch Slower global growth to weigh on PGM prices Platinum group metals (PGMs) are primarily used in the automobile sector as catalysts for air pollution abatement in light- and heavy-duty vehicles. Auto sales in the three biggest markets, China, the... 12th 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
Metals Chart Pack Prices rally into July The prices of both industrial and precious metals have jumped in the last month, despite falling initially in the wake of the UK’s vote to leave the EU on 23rd June. Prices subsequently recovered on... 4th July 2016 · 1 min read
Commodities Weekly Brexit vote has a silver lining The price of gold has predictably done well in the wake of the UK’s surprise vote to leave the EU (‘Brexit’). But the real star of the show has been silver, whose price has already jumped by nearly 20... 1st July 2016 · 1 min read
Commodities Chart Pack Commodities brush off Brexit blues Commodities outperformed equities in June as the UK’s surprise vote to leave the European Union sapped risk appetite in global markets. Gold prices predictably benefited from the heightened... 1st 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
Metals Watch Electric cars could be a game-changer for base metals Tesla, Chevy, and Nissan, three major car makers, have recently announced plans to start selling long-range affordable electric vehicles (EVs) over the next few years. This could potentially be a game... 28th June 2016 · 1 min read
Commodities Weekly A relatively muted response to Brexit Unsurprisingly, the prices of most commodities have fallen in the wake of the UK’s vote to leave the EU. The main exception is gold, which has benefitted from renewed safe-haven demand as well as the... 24th June 2016 · 1 min read
Commodities Update UK vote for ‘Brexit’ not a game-changer for commodities The UK’s vote to leave the EU has predictably undermined the prices of industrial commodities, including oil (which initially fell by around 5% in US dollar terms) and copper (-3%), while boosting... 24th June 2016 · 1 min read
Metals Data Response Global Steel Production (May) World Steel Association (WSA) data, released this afternoon, show that global steel output fell by a negligible 0.1%y/y in May. However, after a weak start to the year, production still fell by 2.2% y... 21st 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
Metals Data Response Global Aluminium Production (May) According to the International Aluminium Institute, global primary aluminium output declined by 0.5% y/y in May. But the annual figure masks the underlying picture of higher prices continuing to... 20th June 2016 · 1 min read
