Industrial Metals Update Tin’s rally to fizzle out by end-2021 Supply disruptions and strong electronics demand have lifted the tin price from its virus-induced lows. But we anticipate that a switch in consumer spending away from goods towards services once... 12th February 2021 · 3 mins read
Industrial Metals Update Demand to be primary driver of lower iron ore price Despite our relatively conservative forecast of supply growth, we still think that the price of iron ore will fall sharply this year owing to slower growth in China’s demand. 10th February 2021 · 3 mins read
Metals Data Response Global Steel Production (Dec. and 2020) Growth in global steel production climbed in December, once again led by a rise in China’s output. We expect growth in China’s output to slow in 2021, while ex-China output should recover lost ground. 26th January 2021 · 2 mins read
Metals Data Response Global Aluminium Production (Dec.) Global aluminium production grew again in December. After a stellar 2020, we suspect that China will continue to lead the way in dragging global aluminium output growth even higher in 2021. 20th January 2021 · 2 mins read
Industrial Metals Update Key calls for metals in 2021 After staging a stellar recovery in 2020, there is considerable momentum in metals prices as we embark on the new year. That said, while prices may rise further in the near term, we think that they... 13th January 2021 · 3 mins read
Commodities Weekly Saudi Arabia springs a surprise After a strong finish to 2020, most commodity prices built on their gains in the first week of January, as investor sentiment continued to prove supportive and Saudi Arabia announced that it would... 8th January 2021 · 7 mins read
Metals Chart Pack Risk appetite to support base metals prices for now The prices of industrial metals continued to surge in December, capping off a strong 2020. However, we expect that prices will fall this year as growth in China’s demand slows on the back of the... 8th January 2021 · 6 mins read
Commodities Update China slowdown will weigh on metals prices in 2021 China’s December PMI readings suggest that the pace of economic expansion has started to ease, which chimes with our view that the demand for and, prices of, most metals will fall this year. 4th January 2021 · 2 mins read
Metals Data Response Global Steel Production (Nov.) Growth in global steel production fell in November, in part because cold weather in China weighed on construction activity there. Nevertheless, we expect global output to remain high in 2021 as... 22nd December 2020 · 2 mins read
Metals Data Response Global Aluminium Production (Nov.) Global aluminium production held up well in November and, given the recent surge in prices, will almost certainly increase in the coming months. 21st December 2020 · 2 mins read
Industrial Metals Update Iron ore market to swing into a surplus next year The price of iron ore has skyrocketed recently, to over $155 per tonne. However, we think that the price will decline in 2021 as demand in China weakens at a time of rising supply. 18th December 2020 · 2 mins read
Industrial Metals Update The upside risks to our 2021 price forecasts We think that industrial metals prices will ease back in 2021 primarily because we expect growth in China’s demand to slow. However, we acknowledge that there are some upside risks to our price... 17th December 2020 · 3 mins read
Industrial Metals Update Taking stock of 2020 After rising steadily in the first half of the year as virus-containment measures curbed metals consumption, exchange stocks have since started to be drawn down. While this tallies with the robust... 15th December 2020 · 5 mins read
Commodities Weekly Oil prices begin to claw back lost ground Despite the re-introduction of lockdown measures in some US states, industrial commodities prices continued to rise this week on the back of ongoing hopes of a vaccine-induced economic boom next year... 11th December 2020 · 7 mins read
Metals Chart Pack Metals on a tear, for now Industrial metals prices rallied in November. While we expect demand growth to stay strong in the months ahead, on the back of robust economic activity in China, we think that it will slow in 2021 as... 4th December 2020 · 6 mins read
Commodities Chart Pack Vaccines mean higher commodity demand in 2021 A flurry of positive news surrounding effective COVID-19 vaccines gave a lift to most commodity prices in November, as a faster easing of virus containment measures next year should provide a lift to... 1st December 2020 · 7 mins read
