After two years of stimulus-fuelled gains, zinc prices are off highs as global growth headwinds threaten the zinc demand outlook and broader risk appetite. However, ex-China inventory scarcity, European smelter curbs due to high energy prices, and significant global deficit projections for 2022 should help zinc weather the macro-storm.
Aggressive measures to tackle China’s COVID-19 resurgence have badly hit its economy, but Beijing remains resolutely committed to its zero-COVID approach. Along with a soft stimulus-response and deepening property sector weakness, this has undermined commodities demand prospects and triggered a pullback in prices. China’s supply-chain issues risk exacerbating global inflationary pressures and accelerating policy tightening by central banks.
Tin Price Outlook The tin price has receded since early March but maintains its underlying bull market uptrend. China’s import demand is likely to absorb stronger ex-China production in Q2. The market … Read More
Copper Price Outlook Copper prices set an all-time high of $10,845 in early March after Russia’s invasion of Ukraine, but have since pared gains amid LME liquidity issues and rising headwinds to … Read More
Base Metals Prices Pull Back From Early March Extremes Base metals prices have retreated from early-March extremes. Risk-aversion hit the complex despite tight underlying physical markets and feared disruption to Russian supply … Read More
What is the Outlook for Nickel Prices? Nickel prices have had a roaring start to 2022. An extended drawdown of visible inventories reflects acute global physical market tightness, particularly for Class 1 … Read More
What is the Outlook for Aluminium Prices? The aluminium market is experiencing an array of supply pressures and threats. Combined with robust demand these have underpinned the metal’s rally to near all-time … Read More
How Will Ukraine Tensions Impact Base Metal prices? The threat of a Russian invasion of Ukraine has stoked geopolitical tensions between Russia, the US and its European allies. A military incursion and … Read More
On 18th January 2022, Amalgamated Metal Trading Ltd. (AMT) hosted a panel of leading industry analysts from BMO Capital Markets, CRU and Fastmarkets to discuss the key themes likely to drive base … Read More
Surging Energy Prices Hit European Zinc Output The spiralling cost of energy and emissions allowances in Europe continues to undermine the economics of Europe’s zinc production. Capacity reductions and smelter closures will … Read More