Industrial Metals Update Copper rally: too far, too soon Copper prices have approached 10-month highs recently on supply woes and optimism that growth in China will rebound, but we think that this rally will reverse as China’s recovery falls short of... 15th April 2019 · 1 min read
Industrial Metals Update Chinese steel prices could drop sharply We expect the Chinese price of steel rebar to drop by more than a fifth this year as a cooling property sector dents demand. 9th April 2019 · 1 min read
Industrial Metals Update Production woes delay iron ore price drop A tropical cyclone and a burst dam will mean lower iron ore output from the three largest producers this year, which we believe will swing the market into a deficit. In our view, this deficit will... 5th April 2019 · 1 min read
Industrial Metals Update Zinc prices to be blown off course While dwindling exchange stocks have helped to boost the price of zinc in recent months, we think that prices are set to drop appreciably later this year as increased mine output finally starts to... 27th 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
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
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
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
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
Industrial Metals Update Copper prices to stand firm this year Subdued levels of supply growth combined with increasing global demand will ensure that copper remains in a substantial market deficit and that prices will hold up well in 2019. 18th January 2019 · 1 min read
Industrial Metals Update Lower costs, lower prices for aluminium in 2019 We think aluminium prices will drop from around $1,865 per tonne at present to $1,750 by end-2019 due to rising output and falling costs at a time of sluggish demand. 18th January 2019 · 1 min read
Industrial Metals Update Weaker demand to weigh on Chinese imports After strong growth in 2018, we think that China’s imports of most industrial metals will be softer in 2019, reflecting slower economic growth and weaker domestic demand. 9th January 2019 · 1 min read
Industrial Metals Update The electric vehicles boom won’t boost nickel in 2019 In recent months, the price of nickel has plummeted as investor sentiment has waned on concerns about demand. We think that prices will drop in 2019 as growth in global supply remains strong and... 17th December 2018 · 1 min read
Industrial Metals Update Zinc futures are right to be in backwardation The price of zinc has fallen sharply since June but what is more remarkable is that the futures curve has shifted into a steep backwardation. We forecast that zinc prices will continue to drop in 2019... 12th December 2018 · 1 min read
Industrial Metals Update No respite in sight for plummeting Chinese steel prices Chinese steel prices have slumped recently but with demand set to be weak over the coming months and less stringent pollution controls, we expect steel prices to drop by a further 20% over the next... 11th December 2018 · 1 min read
Industrial Metals Update Tin demand battling to soldier on Despite dropping to a multi-year low recently, we think that tin prices will fall further over the next year as Chinese demand falters. However, this should mark a turning point for the tin price, not... 29th November 2018 · 1 min read