18 June 2024: Base metal prices rallied in the first half of this year, but we believe that the rally is overdone, given the state of fundamentals, where investors are positioned and seasonality charts. Chinese demand was strong in Q1, but weakened into Q2. In many cases this fed through into higher domestic inventory levels […]
June 19, 2024 - Dan Smith
Our Head of Research was invited to speak at the 121 mining conference in London, where he was talking about the outlook for copper, nickel and tin. Please find his latest talk here: https://www.youtube.com/watch?v=jDEFvBmiSig
May 24, 2024 - Dan Smith
25 April 2024: Base metal prices have soared in the past month, with additional sanctions on Russia combining with improving fundamentals. The LME was forced to act twice in April to impose restrictions on Russian metal deliveries and then to tighten rules around rent-sharing deals to maintain liquidity. This has created a confusing picture of […]
April 29, 2024 - Dan Smith
12 April 2024: After a weak start to 2024, base metal prices jumped in March and early April, mainly driven by speculative forces. There are three reasons to believe that prices look overextended. First, net speculative positions look very high for copper and tin and rallies in nickel and zinc look difficult to justify given […]
April 15, 2024 - Dan Smith
Get the latest insights on base metals via our research video, which is now available for clients on Youtube. See link below. https://youtu.be/mayVdpMry7g The base metals showed significant divergence in terms of price trends in the past year. We explain why this happened, where we are in terms of fundamentals and what happens next? The […]
February 27, 2024 - Dan Smith
19 January 2024: After a weak start to 2024, the major LME base metals are likely to trend higher in the year ahead. Interest rates are expected to fall and key parts of the global economy, such as China and the US should continue to grow. Furthermore, base metals demand is receiving a significant boost […]
January 19, 2024 - Dan Smith
15th December 2023: LME three-month copper prices have risen in the past month, helped by significant problems with mine supply in Latin America. Also, contract treatment charges (TCs) have been cut, as miners gain the upper hand with smelters in China, amid a tight raw materials market. Furthermore, Chinese copper imports have bounced back and […]
December 15, 2023 - Dan Smith
AMT is pleased to announce that our Copper Market Webinar panel discussion is now available on our Youtube channel. See link below. We explain the latest supply and demand trends and price outlook, amid challenging economic headwinds. Dan Smith our Head of Research moderates the session and is joined by Panos Kotseras from CRU, Bryan […]
July 4, 2023 - Dan Smith
15th May 2023: Base metal prices have diverged so far year, as fundamental drivers have started to reassert themselves. In particular, tin was supported by concerns about supply shortages, due to problems in Myanmar and copper prices have been resilient, helped by the green energy transition. By contrast, significant weakness was seen in aluminium, lead, […]
May 15, 2023 - Dan Smith