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Base metals rose 8.95% in Q3. Zinc- The leader of the nonferrous metals on the upside. All base metals post gains- Double-digit percentage increases in COMEX copper, nickel, and zinc. Iron ore rallies 25.9%. The BDI declines by 7.58%. For further details see: Bas...
Original post By Sohrab Darabshaw The Indian aluminum sector, which once stood firmly on the path of growth, today finds itself buffeted by the winds of uncertainty because of the COVID-19 pandemic. Industry leaders have suggested many measures to the India government to put the se...
Original Post By Sohrab Darabshaw India's steel production contracted since the arrival of COVID-19. However, exports surprisingly notched a new high in the April-July 2020 period. Steels exports more than doubled in these months to hit their highest level in six years, reported ne...
Original post By Stuart Burns Pandemic-related lockdowns constrained the global scrap market earlier this year. Consequently, operations were restricted or closed down. But even as containments have eased, the market has been slow to come back - resulting in rising prices for ste...
Original Post By Stuart Burns Zinc and lead are co-mined metals, often assessed in tandem. Zinc and copper, however, are less likely to be viewed as driven by the same fundamentals. Sentiment, yes. All the base metals can be influenced by the same narrative, such as currency streng...
Original Post By Stuart Burns Following President Donald Trump's reimposition of 10% import tariffs on Canadian aluminum, the U.S.'s northern neighbor is now sweating the possible reimposition of steel tariffs. The U.S. imposed the Section 232 tariffs in 2018. Eventually, the U.S. li...
Original Post By Stuart Burns All the base metals have been on the up recently. Nonetheless, it would be naïve to put all such resilience down to a weakening U.S. dollar (supportive as that is for metals prices). Copper and aluminum have both seen fundamentals to some extent s...
Original post By Stuart Burns Aluminum does appear to be having a surprisingly strong post-pandemic recovery - in China, at least. Not that I am counting COVID-19 as beat. The pandemic is something we are going to have to live with, possibly for years to come. Some metals, like s...
Original Post By Stuart Burns All the base metals have been lifted by an expected end to lockdowns and a pickup in activity, particularly in China this quarter. The weakening U.S. dollar has added a further fillip in recent weeks. Despite recent gains, nickel price still down for...
Original Post By Stuart Burns A recent Reuters article looked at the seaborne iron ore market and suggests robust demand from China is offsetting weak demand from the rest of Asia and Europe, leaving a largely balanced global seaborne market. As a result, the article suggest...
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