Definition: the data in this report show LME non-risk reducing positions (ie speculative positions) held by Investment Funds and Other Financial Institution
January 28, 2026 - Carly Hughes
Davos served as confirmation of an emerging narrative, marking a clearer acceptance of what risk now represents in a world where fragmentation, persistent inflation, and…
January 26, 2026 - George Griffiths
The aluminium market is increasingly being shaped by power systems rather than feedstocks or headline capacity additions. The key divergence lies in how China is…
January 23, 2026 - George Griffiths
Tin: pricing power sits midstream, not at the warehouse London tin prices have moved beyond $52,000 per ton, reaching new highs even as visible exchange…
January 16, 2026 - George Griffiths
Copper prices have extended sharply higher into early 2026, driven primarily by macro rotation and systematic flows rather than near-term physical tightness. While the long-term…
January 9, 2026 - George Griffiths
Nickel has staged a sharp momentum-driven rally, rebounding close to 30 percent since mid-December and trading into the high-$18k range. The move has progressed rapidly,…
January 9, 2026 - George Griffiths
As we enter the beginning of a new year, it is necessary to assess which elements of our market analysis and expectations remain valid for…
January 7, 2026 - George Griffiths
December proving to be full of surprises, and the week ending 14/12 was no exception… The week started in a positive light as the Chinese…
December 19, 2025 - Sol O'Driscoll
Introduction: A Structural Break in Aluminium Three forces are reshaping global aluminium flows: EU CBAM (Carbon Border Adjustment Mechanism) introduces a carbon levy on imported…
December 9, 2025 - George Griffiths