Why are metal prices plummeting? Base metals prices aggressively retreated in the second half of October after China’s coal price collapsed following government intervention. Coal’s rout suggests easing power rationing and lower energy costs for metal producers. Fresh visibility of the impact of power shortages and related supply-chain disruption on downstream industrial activity and, by […]
November 3, 2021
What do these magnesium shortages mean? China produces the majority of the world’s magnesium but domestic power curbs have significantly disrupted output, triggering fears of a major global shortage. The metal is essential for producing aluminium alloys for the auto industry, among other applications. This threatens fresh automotive sector shutdowns and associated base metals demand. […]
October 29, 2021
Why is copper rebounding? Escalating physical market tightness has jolted the copper price into life after several months of directionless trading. Declining copper exchange inventories and heightened inflation concerns prompted by the global energy crisis have acted as a catalyst for historically extreme LME spread tightness and a resurgence in 3M prices to within a […]
October 20, 2021
monthly report overview Iron ore surged to a high in mid-May, when spot prices reached $235. Prices since fell as China cut steel output in H2 to reduce output below 2020s 1.065 billion mt to reduce both pollution and energy usage. Freight rates hit 13 year high on Monday 1st October as the Baltic Dry […]
October 8, 2021
On Wednesday 6th October AMT hosted a free virtual tin market webinar. This was organised as a series of panels where a range of industry experts reflected on an unprecedented year for tin and debated the future prospects for the market. Video recordings of the two expert panel discussions and AMT’s tin market review presentation […]
October 6, 2021
What do global energy changes mean for metal prices? Governments globally are ramping up efforts to reduce fossil fuel dependency. This is to meet ambitious decarbonisation goals and curb industrial pollution. China has curbed smelter production and capacity growth to meet energy targets. This has been price-supportive, most notably for aluminium. However, Europe’s developing energy […]
September 27, 2021
Monthly report overview Ferrous futures complex was generally weaker across the board in August with Iron Ore once again sold off, losing 25% MoM (Month-on-Month) to 159 and Turkey Scrap -6% MoM to 454, whilst HRC US bucked the trend and maintained its upward trajectory to 1,889 +5 % MoM. August China net steel exports […]
September 14, 2021
Why has the shipping crisis worsened? The continuing global shipping crisis has widened dislocations between regional physical metal markets. Soaring physical premiums in the US and Europe and severe imbalances in global metal inventory distribution reflect the growing difficulty in shipping metal to where it is most needed. Shipping difficulties could worsen after recent port […]
August 23, 2021
Lead market sees increase The LME lead price has risen higher overall since June amid falling LME inventories and physical tightness in the US and Europe. Shipping issues have so far shielded LME prices from significant exports of lead from China amid heavy oversupply there, but the threat of shipments may temper the potential for […]
August 10, 2021