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Commodity Evolution – NewsLetter 2025 May

Commodity Evolution – NewsLetter 2025 May

The most non ferrous metals show positive weekly changes, but with significant corrections over the medium term (3 weeks - 1 month). This indicates that the market is experiencing a technical rebound after a period of structural weakness, with mixed signals on the...

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Slight Improvement in Market Sentiment in the Steel Sector

Slight Improvement in Market Sentiment in the Steel Sector

The latest survey conducted by the European distributors' association EUROMETAL in January showed a slight improvement in market sentiment, although expectations regarding future activity, inventory levels and prices remained largely unchanged. Although the three main...

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Volatility in the Industrial Metals Market

Volatility in the Industrial Metals Market

In the recent period, the industrial metals market has been going through a period of considerable volatility, affected by significant events affecting various sectors, particularly aluminum, copper and zinc. These fluctuations have raised concerns about the stability...

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3-Month $/ton Copper Forecast for Q4

3-Month $/ton Copper Forecast for Q4

The copper market is experiencing a particularly interesting phase, characterised by a combination of a bullish technical trend and speculative positioning that reflects the future vision of market participants. Using both technical analysis and data from the LME's...

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Optimistic Copper Forecast for the end of 2024

Optimistic Copper Forecast for the end of 2024

Intervention by our Head of Studies Giacomo Tulino in Il Sole 24 Ore Plus of 14 September 2024. Copper continues to be a crucial player in global markets, especially in the context of energy transition and technological development. After a 2024 characterised by a...

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Zinc Prices: An In-Depth View

Zinc Prices: An In-Depth View

Looking at the 3-month LME zinc price chart, a key support emerges in the $2,630/mt area. This level corresponds to the 61.8% Fibonacci retracement drawn from the rise from the mid-February 2024 lows. This support also coincides with the transit area of the 200-day...

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The US Aluminium Scrap Market: First Quarter 2024 Analysis

The US Aluminium Scrap Market: First Quarter 2024 Analysis

The global aluminium scrap market got off to a dynamic start in 2024, with the US experiencing significant developments in its exports and imports in the first quarter of the year. These changes not only reflect a broader economic trend, but also highlight strategic...

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The revolution in aluminium production

The revolution in aluminium production

Since 2011, the global primary aluminium production landscape has undergone significant changes. China, with its rapid industrial development, has increased its production share by 14.55%, while other regions of the world have seen a reduction in their weight in the...

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Galliu

Galliu

Chinese export controls on certain gallium and germanium products take effect today, Tuesday 1 August, and operators are bracing for a drop in international supply in August and September as exporters work out the necessary new permits. China, the world's top supplier...

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Chilean police stop a copper theft in Escondida

Chilean police stop a copper theft in Escondida

Eleven people were arrested by Chilean police after they were caught stealing four bags of copper concentrate from BHP's Escondida mine in northern Chile, the largest in the world. The thieves, however, intended to steal much more metal, as they were carrying 325...

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Aluminium: price forecast for July

Aluminium: price forecast for July

This paper has been produced by Commodity Evolution's research department, analysing the macroeconomic and technical environment in order to provide an overall view on primary aluminium. It is not news that the London Metal Exchange (LME) has seen a sharp increase in...

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Crude steel: production falls 5.1% in May

Crude steel: production falls 5.1% in May

World crude steel production of the 63 countries belonging to the World Steel Association (worldsteel) was 161.6 million tonnes (Mt) in May 2023, down 5.1% from May 2022. Africa produced 1.3 million tonnes in May 2023, an increase of 18.6% compared to May 2022. Asia...

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Lithium: Chile plans to nationalise its industry

Lithium: Chile plans to nationalise its industry

Chilean President Gabriel Boric said he wants to nationalise the country's lithium industry and create a state-owned company to produce the metal, which is a key component of electric vehicle batteries. Boric stated that future contracts for lithium would only be in...

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HRC steel: a rise in European prices expected

HRC steel: a rise in European prices expected

Hot-rolled coil (HRC) prices in Europe are expected to rise gradually, as buyers expect to start sourcing soon. ArcelorMittal has increased coil bids by 20 euros/mt across Europe. HRC's new bids in Germany reached 840 euros/mt ex-Ruhr plant and in Italy 820 euros/mt...

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Rare earth: Lynas plant risks partial closure

Rare earth: Lynas plant risks partial closure

Malaysian regulators renewed the operating licence for Lynas' Rare Earths unit but retained conditions that will prevent Lynas from importing and processing rare earth concentrate after 1 July. Lynas, the world's largest producer of rare earths outside China, will...

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Copper: fighting for critical mineral status

Copper: fighting for critical mineral status

Some of the biggest names in copper have found high-level political allies who support their efforts to have the harness metal added to the list of minerals considered critical to the United States. Copper are fighting for critical mineral status. Independent Senator...

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Copper: MMG closes Las Bambas mine due to unrest

Copper: MMG closes Las Bambas mine due to unrest

Mining company MMG Ltd was forced to close Las Bambas copper mine due to community unrest triggered by the ousting of President Pedro Castillo late last year, putting its plant in Peru, the world's second largest copper producing country, under maintenance. Nationwide...

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Aluminium: stocks still at low levels

Aluminium: stocks still at low levels

As with many base metals, prices rose in early January, with aluminium stocks remaining at their lowest levels. Although it is true that China's increase in aluminium export taxes may have affected aluminium prices, the market has seen rather volatile conditions since...

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Aluminum: prices in break out phase

Aluminum: prices in break out phase

Primary aluminum listed on the London Metal Exchange continues its upward move (+1.95 percent as of 12:00 GMT+1), with the third consecutive positive session. Prices currently appear to be in the process of breaking out (breaking to the upside) of an important...

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Metals: can Europe save the industrial sector?

Metals: can Europe save the industrial sector?

A massive and rapid deployment of renewable energy is crucial for Europe to end its dependence on Russian fossil fuels. According to the European Commission, solar energy will be "the linchpin of this effort." The only problem is that the global solar supply chain is...

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HRC steel: prices remain stable pending supplies

HRC steel: prices remain stable pending supplies

Hot-rolled coil prices in Northwest Europe stood at 825 euro/ton on 13 July, up slightly (+0.24%) from the previous day's reading (823 euro/ton), as market activity remained low and stocks are expected to be replenished by the end of July. The expected replenishment...

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Car sales in China up 24% year-on-year

Car sales in China up 24% year-on-year

In June, car sales and production in China increased year-on-year by 23.8 per cent and 28.2 per cent respectively, according to the latest data released by the China Association of Automobile Manufacturers (CAAM) on 11 July. Compared to May, total vehicle sales grew...

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Steel: crude production in May fell by 3.5 % y/y

Steel: crude production in May fell by 3.5 % y/y

World crude steel production for the 64 countries belonging to the World Steel Association was 169.5 million tonnes (Mt) in May 2022, down 3.5% from May 2021. Crude steel production by region: Africa produced 1.1 Mt in May 2022, down 18.9% from May 2021; Asia and...

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Aluminium: global production shifts back to China

Aluminium: global production shifts back to China

China produced a record 3.42 million tonnes of primary aluminium in May, as the country's smelters continue to increase production rates. According to the International Aluminium Institute (IAI), the country's annual production increased by 3.66 million tonnes in the...

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Coal: Australian prices fall in June

Coal: Australian prices fall in June

Newcastle thermal coal prices are expected to remain low in the second half of June and into July, as discounts offered for coal of other origins continue to lure Asian buyers away from Australian coal. Asian buyers, who stayed away from Australian coal after prices...

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Shanghai fully reopens to trade

Shanghai fully reopens to trade

Shanghai, China's largest city, reopened for business on June 1 after a two-month COVID-19 freeze, with most construction sites resuming operations and steel warehouses reopening for cargo pickup. However, demand for rebar in the city may take some time to fully...

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Steel: global production down in April

Steel: global production down in April

Global crude steel production was 162.7 million tons in April, down 5.1 percent from April 2021, according to World Steel Association data released May 24. Production from January to April was 619.1 million tons, down 7.1 percent from the previous year's levels....

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Steel: Zaporizhstal targets Polish demand

Steel: Zaporizhstal targets Polish demand

Ukraine's Zaporizhstal steel mill, partly owned by Metinvest, has started production of a new type of hot-rolled coils for Polish customers. According to Ukrainian media reports, Polish customers have ordered HRCs weighing at least 9 tons each. Previously, to fulfill...

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Iron ore: price hits nearly 2-month low

Iron ore: price hits nearly 2-month low

Chinese iron ore futures fell as much as 7 percent Tuesday, touching their lowest in nearly two months, fueled by fears of higher interest rates and still stagnant domestic demand. The U.S. Federal Reserve approved a half-point increase in interest rates last week and...

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Steel: demand for coils in Italy remains stagnant

Steel: demand for coils in Italy remains stagnant

Italian sales of cold rolled and hot dip galvanized coils continue to be particularly sluggish, with customers buying little material and expecting prices to continue to fall this week, in line with international coil prices. While HDG demand has been reported to be...

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Tin: Chinese production increases in April

Tin: Chinese production increases in April

Chinese production of refined tin from major smelters rose 14.4% in April compared with the previous month, as most companies resumed the production process. Twenty smelters, accounting for 97% of China's total capacity, produced 15,464 tons of refined tin last month,...

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Steel: new supplies expected on the market

Steel: new supplies expected on the market

ArcelorMittal has announced that it will invest €300 million in the construction of a new steel unit at its Mardyck site in northern France. The plant , which will come on stream in 2024, will have an annual production capacity of up to 200,000 tons of high-strength...

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Steel: EU suspends trade barriers on Ukraine

Steel: EU suspends trade barriers on Ukraine

The European Commission proposed on Wednesday the suspension of all trade barriers against steel imports from Ukraine for a period of one year, to support the country during its ongoing war with Russia. The proposal needs to be ratified by the European Parliament, but...

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Steel: expected declines in EU hot rolled coils

Steel: expected declines in EU hot rolled coils

The expectations are for a downward trend in prices for hot rolled coil as demand has remained subdued due to the holiday period. Some market sources report a quiet market with subdued demand and most traders preferred to wait and see if prices would correct from...

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Steel: global production down 6.8% year-on-year

Steel: global production down 6.8% year-on-year

Global crude steel production fell 5.8% year-on-year in March to 161 million tonnes, bringing total production for the first quarter of 2022 to 456.6 million tonnes, down 6.8% from the same period in 2021.However, global production in March was 13% higher than...

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Palm oil: Indonesian and Malaysian exports soar

Palm oil: Indonesian and Malaysian exports soar

Higher demand for palm oil could lift Indonesian and Malaysian exports and bring down stocks, supporting prices, which have already risen 38% in 2022, as the war in Ukraine disrupted supplies of sunflower oil. Palm oil has become profitable for refiners because it is...

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Aluminium: strong rise in Chinese exports

Aluminium: strong rise in Chinese exports

Chinese exports of "Unwrought aluminium and aluminium products" rose sharply in March 2022. Exports amounted to 594,361 tons, approaching the highs recorded in January this year. The increase on a monthly basis was +41.18% while on a yearly basis the growth was +34%....

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Lithium: Mexico nationalises mining

Lithium: Mexico nationalises mining

Mexico has officially nationalised its lithium industry after the Senate approved with 87 votes in favour, 20 against and 16 abstentions the mining reform proposed by President Andrés Manuel López Obrador, which gives the state exclusive rights to the battery metal....

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Tata Steel closes business ties with Russia

Tata Steel closes business ties with Russia

Tata Steel has decided to stop doing business with Russia amid the military invasion of Ukraine, becoming the first global steel company to cut ties with Russia. Tata Steel has no operations or employees in Russia. The company has made a conscious decision to stop...

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Steel: Mariupol plants suffer further damage

Steel: Mariupol plants suffer further damage

Metinvest's steel plants in Mariupol have suffered further damage as a result of fighting between Ukrainian and Russian military forces. On Friday, Russian Defense Ministry representative Igor Konashenkov said that Moscow forces and units of the self-proclaimed...

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Steel: China’s steel demand slows in April

Steel: China’s steel demand slows in April

Steel demand in China is expected to continue to decline in April as deteriorating property sales weigh on domestic steel markets. The liquidity crisis facing property developers could extend into much of 2022, undermining Chinese steel demand for this year. China's...

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Ferrous scrap: prices rise quickly across Europe

Ferrous scrap: prices rise quickly across Europe

Ferrous scrap prices rose very quickly across Europe in April, as domestic mills raised prices to match the export market. The Russian invasion of Ukraine and the resulting shortage of supplies of key raw materials for steel from the Black Sea region caused prices of...

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Steel: Shanghai freeze upsets market

Steel: Shanghai freeze upsets market

Shanghai, China's most internationalised city and the largest steel trading hub in eastern China, has been under a strict lockdown since 28 March to combat the worst outbreak of COVID-19 ever seen in terms of the number of infections. The citywide blockade has nearly...

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Copper and nickel: elements for a greener future

Copper and nickel: elements for a greener future

Both nickel and copper possess properties that give them a central role in the drive towards a greener future. While demand will continue to grow steadily, electric vehicles (EVs) and energy storage applications will support a huge increase in long-term demand. While...

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Copper: ready for a medium/long-term rally

Copper: ready for a medium/long-term rally

Before the Russian invasion of Ukraine on 24 February, global equities were already facing their first critical event as inflation began to accelerate. This risk continues, as inflation recently reached 40-year highs in the wake of a global pandemic, government...

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Steel: Turkish exports rise up 20%.

Steel: Turkish exports rise up 20%.

Turkey's steel exports have increased by 20% to a record 19.9 million tonnes in 2021, with higher prices meaning revenue will rise by 93% to $16.5 billion in 2021. Turkey's total finished steel consumption increased by 13% to 33.4 million tonnes in 2021. Steel...

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Copper: $100bn investment needed to meet demand

Copper: $100bn investment needed to meet demand

The global copper industry needs to spend more than $100 billion to build mines capable of closing what could be an annual supply gap of 4.7 million tonnes by 2030. The supply gap for the next decade is estimated at six million tonnes a year as the clean energy and...

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Nickel: price chaos continues on Lme

Nickel: price chaos continues on Lme

The London Metal Exchange temporarily froze electronic trading in nickel after restarting from a week-long suspension, as a glitch allowed prices to fall beyond a new daily limit (5%) that was supposed to help restore order after last week's historic short squeeze....

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Carmakers face soaring metal costs

Carmakers face soaring metal costs

Russia's invasion of Ukraine is raising the price of metals used in cars, from aluminum in bodywork to palladium in catalytic converters to high-grade nickel in electric vehicle batteries, and drivers are likely to foot the bill. While metals have not yet been the...

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Titanium: Boeing suspends purchase from Russia

Titanium: Boeing suspends purchase from Russia

Boeing Co reported Monday that it has suspended its purchase of titanium from Russia, a move that could have implications for the aircraft manufacturer's relationship with its largest supplier of the raw material, VSMPO-Avisma. According to the manufacturer, "our...

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Honduras cancels environmental permits for mines

Honduras cancels environmental permits for mines

In a brief statement, the government reported that environmental permits for metal mining in Honduras will be cancelled, describing the industry as harmful and stating that it will specifically prohibit open-pit mining. The statement from the Ministry of Energy,...

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Aluminium: world production down in January

Aluminium: world production down in January

After December 2021's highs at 5.622 mln tons, January 2022 triggered a decline in global aluminum production to 5.513 mln tons. The cumulative January to December 2021 stood at 67.28 mln tons compared to 65.327 mln tons in the same period last year (+2.98%). WORLD...

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Rare earth: Kalgoorlie gets ministerial approval

Rare earth: Kalgoorlie gets ministerial approval

Preliminary implementation of Lynas Rare Earths' Kalgoorlie processing plant has been approved after a ministerial declaration was issued under the Environment Protection Act 1986 (WA). The declaration outlines conditions for the construction and operation of the rare...

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Copper: price drops ahead of Fed meeting

Copper: price drops ahead of Fed meeting

Copper prices fell on Monday under pressure from risk-off sentiment in global markets. Asian equities also fell as investors prepared for a Federal Reserve meeting at which it is expected to confirm the start of a massive liquidity drain that has supercharged growth...

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Non-ferrous metals: session in strong recovery

Non-ferrous metals: session in strong recovery

Today's session shows an excellent performance for non-ferrous metals, with nickel showing a daily growth of +3.69%, followed by tin +1.84%, copper +1.61%, lead +1.34%, zinc +1.08% and aluminum at +0.80%. Stay updated with Commodity Evolution to follow in detail and...

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Zinc: Fitch forecasts a price retracement

Zinc: Fitch forecasts a price retracement

Prices averaged $2995/ton in 2021 and closed the year around $3428/ton, a slight retracement from the high of $3944/ton reached in October 2021. Fitch's price forecast for 2022 implies that the company expects prices to stabilize and weaken from here on in the coming...

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Aluminum: production cuts boost further rises

Aluminum: production cuts boost further rises

The various production cuts made before by the largest European smelter Aluminium Dunkerque Industries France (read the article here), by Hydro in its plant in Slovakia (read the article here), by Alro (read the article here) by Alcoa that will stop a Spanish plant...

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Aluminum: the Romanian Alro cuts production

Aluminum: the Romanian Alro cuts production

Romanian aluminum producer Alro reported that it will cut primary aluminum production due to rising energy prices .Primary aluminum production activity will be reduced from five electrolysis rooms to two rooms. The company will resume its full production operations...

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Iron ore: Australian exports down

Iron ore: Australian exports down

Australia has seen a decline in exports of goods and services for September due to low iron ore prices, according to the Australian Bureau of Statistics. Australia has seen a decline in exports of goods and services for September due to low iron ore prices, according...

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Aluminium: prices down 20% in a two-week

Aluminium: prices down 20% in a two-week

The aluminium price has been weakened by falling coal prices in China, following efforts by regulators to curb excessive speculation and profiteering from what remains a tight domestic thermal coal market. If coal prices continue to fall, aluminium prices should, at...

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Iron ore: Vale SA profits below estimates

Iron ore: Vale SA profits below estimates

Brazilian miner Vale SA on Thursday reported third-quarter net profit of $3.9 billion, significantly below analysts' forecasts of $6.2 billion, due to lower iron ore prices and a write-down of its coal business. While Vale's net profit fell by almost half from the...

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Aluminium: world production September 2021

Aluminium: world production September 2021

Power outages in China ---------> production supply in crisis Let's take a look at primary aluminium production worldwide (last survey September 2021). Data from the International Aluminium Institute. Month-on-month % change: Africa: -3.65% China: -3.52%. Western...

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Copper: Zijin opens Serbia’s largest mine

Copper: Zijin opens Serbia’s largest mine

Zijin Mining, China's largest gold miner and one of the country's leading copper producers, has started operations at its Cukaru Peki copper and gold mine in Serbia. The resource, part of the Timok project, is expected to make the Balkan country the second largest...

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Iron ore: Vale reduces metal supply

Iron ore: Vale reduces metal supply

Vale SA produced more than analysts expected and outperformed both the previous quarter and the year-ago period, as part of an ongoing recovery from the 2019 tailings dam disaster and thanks to better weather. But with iron ore futures down more than 40% from their...

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Copper: Chinese investment projects abroad

Copper: Chinese investment projects abroad

China consumes nearly 14 million tonnes of copper each year, more than the rest of the world combined. But domestic supply last year was only about 2 million tonnes, including scrap, and mined production has been stagnant for years. Imported concentrate, from some 30...

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Aluminium: 13-year highs reached

Aluminium: 13-year highs reached

Aluminium has risen to its highest level since 2008 as a deepening energy crisis squeezes supplies of the energy-intensive metal that is used in everything from beer cans to iPhones. Each tonne of metal requires around 14 megawatt hours of energy to produce, enough to...

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Batteries: US narrows gap with China

Batteries: US narrows gap with China

According to Global Lithium-Ion Battery Supply Chain Ranking, the US is closing the gap with China when it comes to the race to dominate the battery value chain. The US has the second largest EV market globally, after China. Tesla and Asian cell manufacturers continue...

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Electricity: price rises by 288% from Q2 2020

Electricity: price rises by 288% from Q2 2020

In arrivo una nuova stangata sulle bollette di luce e gas. A lanciare l'allarme è stato proprio il ministro della Transizione Ecologica, Roberto Cingolani. A new sting on electricity and gas bills is coming. The Minister for Ecological Transition, Roberto Cingolani,...

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ICMM: zero carbon emissions by 2050

ICMM: zero carbon emissions by 2050

According to the International Council on Mining and Metals (ICMM), the world's largest mining companies pledged on Tuesday to achieve a target of zero net direct and indirect carbon emissions by 2050 or sooner. The announcement comes ahead of next month's UN climate...

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Copper: fire halts production at Salobo mine

Copper: fire halts production at Salobo mine

Vale reported that production of copper concentrate at its Salobo mine in the state of Para, Brazil, is suspended due to a fire that struck a conveyor belt, causing no injuries or fatalities but only material damage. The company expects to resume production at the...

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Copper: BHP in talks for DRC project

Copper: BHP in talks for DRC project

The Melbourne-based miner is in talks with Ivanhoe Mines Ltd. to buy Western Foreland, a huge exploration territory that borders Ivanhoe's Kamoa-Kakula mine. The foray into a nation emerging from decades of conflict would mark a shift in strategy for BHP, which has...

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Nickel: BHP opens first Australian plant

Nickel: BHP opens first Australian plant

BHP announced on Friday that it has produced the first nickel sulphate crystals from its plant in Kwinana, outside Perth, part of a strategy to grow its battery metals footprint to meet expected rising demand. Nickel is a key component for electric vehicle (EV)...

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Copper: shutdown for Peru’s Las Bambas mine

Copper: shutdown for Peru’s Las Bambas mine

Chinese miner MMG will once again have to halt operations at its Las Bambas copper mine, one of Peru's largest, as community protests in the neighbouring province of Chumbivilcas have affected supply logistics. The blockade of public roads along Peru's main copper...

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Tin: record prices on low stocks

Tin: record prices on low stocks

Tin prices jumped to a record high on Friday as inventories in warehouses fell and supply problems persisted. Benchmark tin on the London Metal Exchange rose to a record $36,770 a tonne, and by early afternoon was trading 2.4 percent higher at $36,310. Metal prices...

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Zinc: Teck Resources cuts production forecasts

Zinc: Teck Resources cuts production forecasts

Teck Resources, Canada's largest diversified miner, has cut its refined zinc production estimates for 2021 due to widespread wildfires in British Columbia over the summer. Operations at the Vancouver, BC-based miner were temporarily shut down in August for about ten...

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Iron ore: Price falls below $100 a tonne

Iron ore: Price falls below $100 a tonne

The price of iron ore sank below $100 a tonne on Friday for the first time since July 2020, as China's moves to clean up its heavily polluting industrial sector caused a rapid and sharp collapse. The Ministry of Ecology and Environment planned to involve 64 key...

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Iron ore: price drops to 11-month low

Iron ore: price drops to 11-month low

The price of iron ore fell to an eleven-month low on Thursday amid concerns that the global economic recovery is slowing. The price of iron ore fell 40 per cent from over $220 in July, mainly due to lower imports by China following its move to control steel production...

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Aluminium: new capacity to tame prices

Aluminium: new capacity to tame prices

A prolonged period of high aluminium prices, created in part by production cuts in China, is expected to encourage new capacity elsewhere in the world, which will eventually weigh on prices at 10-year highs. Benchmark aluminium on the London Metal Exchange reached...

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Steel: Chinese prices could rise in September

Steel: Chinese prices could rise in September

Chinese domestic construction steel prices could stabilise and rebound this month, with both demand and supply growth. Demand growth could outpace supply growth, and construction steel inventories could decline further. As for construction steel demand, the operating...

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Aluminium: close to 3-year highs

Aluminium: close to 3-year highs

Aluminium traded near its highest level in three years as supply disruptions tightened the market. The metal has risen 32% this year, second only to tin among the six base metals traded on the London Metal Exchange, driven by the global economic recovery. The price is...

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Copper: Codelco expands Salvador mine

Copper: Codelco expands Salvador mine

Chilean state-owned miner Codelco, the world's No. 1 copper producer, has invested $1.4 billion in the Salvador copper mine, extending the productive life by 47 years and increasing production by almost 50%. The Rajo Inca project will convert Salvador, which has been...

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Copper prices: bearish trend continues

Copper prices: bearish trend continues

Copper prices are on a downtrend after reports showed worsening manufacturing growth in the US and China. Chinese factory activity expanded in July at the slowest pace in 17 months, with the official purchasing managers' index (PMI) falling to 50.4 from 50.9 in June,...

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Zinc: Glencore reaches agreement

Zinc: Glencore reaches agreement

Reuters reported that Glencore Plc has agreed to pay $9.85 million to settle a private antitrust lawsuit in the US accusing two units of the Anglo-Swiss mining company of trying to monopolise the zinc market, driving up its price. The preliminary settlement revealed...

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Copper: global supply at risk

Copper: global supply at risk

A tightening global copper market is facing the real possibility of simultaneous disruptions at three mines in Chile, the top producer. By far the most serious threat to global supplies comes from Escondida, the world's largest copper mine, where workers rejected...

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Silver: bullish formation in progress

Silver: bullish formation in progress

The precious metal, industrial par excellence shows a bullish conformation, both on a weekly and monthly basis. The formation of a pennant, which identifies a moment of slowdown of the trend in place is then destined to resume its run. The prices are currently...

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Copper: possible break up of 9450 $/ton

Copper: possible break up of 9450 $/ton

Stable phase in the month of July for copper quotations with fluctuations between 9130 $/ton and 9632 $/ton. At the moment prices are under pressure against the first real resistance located in the 9450 $/ton area (transit area of the bearish line drawn from the highs...

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Nickel: BHP will be the supplier of Tesla

Nickel: BHP will be the supplier of Tesla

BHP Group reported Thursday that it has signed a nickel supply agreement with Tesla and will work with the electric carmaker to lower carbon emissions in the battery supply chain. Tesla CEO Elon Musk has urged miners to produce more nickel, with demand set to...

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Metal recycling: key to reducing emissions

Metal recycling: key to reducing emissions

According to Wood Mackenzie consumer awareness of carbon emissions from metals production for the energy transition will eventually spur the recycling industry and encourage the search for substitutes that could spoil the party for large manufacturing companies. An...

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Iron ore: production down for Rio Tinto

Iron ore: production down for Rio Tinto

Rio Tinto reported a 12% drop in quarterly iron ore shipments after storms hit its operations in Western Australia. The company reported that it now expects to ship near the lower end of its range of 325 million tons and 340 million tons in 2021, meaning it could be...

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US Dollar: What effects on commodities market

US Dollar: What effects on commodities market

The US dollar seems to be recovering against the euro, the renminbi and the other major currencies (Jby,Gbp, Cad, Sek and Chf - summarized in the dollar index). By graphically analyzing, on a weekly basis, quotations started to rise again from the fundamental support...

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Copper: possible rebound in prices for July

Copper: possible rebound in prices for July

From mid-May 2021 until June 21, 2021 copper prices corrected the bullish movement started in March 2020 (+144% new highs since 2009 in 10740 S/ton area). From June 21, 2021 prices started to settle, favoring a first recovery towards 9500 $/ton (currently prices are...

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Vale’s Sudbury strike strains nickel supply

Vale’s Sudbury strike strains nickel supply

A strike at Vale SA's operations in Sudbury, Canada, is disrupting the market for nickel, which is key to powering electric vehicles. Sudbury is one of the world's few producers of nickel pellets, a form used to make alloys for the aerospace, electronics and nuclear...

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Aluminum could anticipate bullish July movement

Aluminum could anticipate bullish July movement

Since the May 2021 highs, primary aluminum has been in a broad triangular phase, with prices now pressuring against the upper extreme in the $2470/mt area. The current pattern identifies itself as a symmetrical triangle, with bullish/bearish implications depending on...

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Copper supply must double by 2050

Copper supply must double by 2050

Glencore CEO Ivan Glasenberg told the Qatar Economic Forum that a supply gap is growing in the metals the world needs to replace fossil fuels with renewable energy. According to Glasenberg, copper supplies need to increase by one million tons per year until 2050 to...

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Europe takes steps to reduce dependence on China

Europe takes steps to reduce dependence on China

Speaking at the summit of the European Raw Materials Alliance, European Commissioner for the Internal Market, Thierry Breton, expressed concern about the EU's dependence on third countries for 99 products, primarily raw materials (supply of rare earths, 98% of which...

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Serbia could become the second European copper producer

Serbia could become the second European copper producer

Serbia's Zijin Mining, a wholly owned subsidiary of Zijin and backed by China, has received permission from the Serbian government to begin mining operations at the Cukaru Peki copper and gold mine, part of the Timok project, in the eastern part of the country. The...

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What to expect in June on tin prices

What to expect in June on tin prices

Since the end of March 2020, tin prices, as well as most commodities, have developed a sharp rise, performing an unbelievable +142% (from lows to highs). What to expect then for June? Analyzing Uninterrupted Positive close: on a monthly basis, it is possible to...

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China suspends economic dialogue with Australia

China suspends economic dialogue with Australia

China on Thursday suspended indefinitely all activities of the China-Australia Strategic Economic Dialogue. Chinese Foreign Ministry spokesman Wang Wenbin reported that the suspension was a "necessary and legitimate" response to Australia "abusing" the concept of...

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Weak Chinese demand drives tin exports

Weak Chinese demand drives tin exports

Customs data from China indicate that the country was a net exporter of refined tin again in March. Net exports were about four times higher than in February. The data reveals that refined tin imports fell to 102 tons in March, down about 78%. This is the lowest level...

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Copper price soars even as gloomy forecast for the future

Copper price soars even as gloomy forecast for the future

Copper once again approached the crucial $10,000-per-ton level on Tuesday amid bullish sentiment and renewed supply concerns in the world's most important producing region. Copper's rally, which has more than doubled in price from its all-time lows, has been fueled by...

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Plastics, Polynt composites price increases

Plastics, Polynt composites price increases

Polynt Composites, an Italian company operating in the field of raw materials for the composites industry, has announced an increase of 400 euros/ton for all compounds. The decision was taken to balance the increase in raw material costs in Europe, as an effect of...

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Chinese steel stocks fall further on sustained demand

Chinese steel stocks fall further on sustained demand

Between March 26 and April 1, Chinese steel traders saw their finished steel inventories fall further, with a 1.6 million tonne week-on-week decline, faster than the previous week's 1.5 million tonne drop, mainly due to further strengthening demand. Inventories held...

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Zinc close to 2750$/ton area

Zinc close to 2750$/ton area

Zinc's downturn started on March 23 approached the first intermediate support in the area 2750$/ton (April 1, 2021). This intermediate level could give way, leaving room for quick pullbacks towards $2720. Also on a statistical level, in the last 5 years of trading,...

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Aluminum close to $2300 area

Aluminum close to $2300 area

Aluminum quotations continue to strengthen, a situation due to currently unsustainable delivery times and costs. Despite this, prices are approaching a fundamental psychological level of $2300/ton. A lot of volatility will be created at these prices. Indicators on a...

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High volatility for zinc prices

High volatility for zinc prices

In the last 1 hour, zinc prices have registered a 4.50% movement between the opening of 8 am (2749.50$/ton) and its minimum (2627$/ton), to then recover part of the lost ground (2720$/ton at 9.30 am). In this way the prices have created a long "spike" (lower line...

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Aluminum prices negative for March

Aluminum prices negative for March

Could the seasonality of March be pushing aluminum prices down? From chart 2. it sure looks like prices have been moving negatively in the month under review for the past 30-15-10-5 years. From chart 1. today could be the last day of rebound for aluminum prices, and...

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Zinc – Prices could reverse in the short term

Zinc – Prices could reverse in the short term

After 3 weeks of the zinc price consecutive rise, the fourth week (the current one) is creating a Japanese candle called shooting star. This pattern does not have the same power as the other stars signals, however the prices are right behind an important price level...

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Strong backwardation for tin

Strong backwardation for tin

The spread between cash and 3-month tin stands today at about $3900/mt. We are in a strong backwardation situation. With deposits at their lowest since 2016 (1,400ton in Lme warehouses) and concerns about a shortage of current supply have pushed ip the current price.

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Copper – Price marks new highs since 2012

Copper – Price marks new highs since 2012

New upward impulse for copper which today registers a price excursion (between highs and lows) of 310$/ton (+3.50%). On a technical level, the upward break of the wide congestion between $4320 and $7385 (Dec 2012 to Dec 2020) projects a second long-term price target...

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Japan’s steel exports fall 13% y/y in January

Japan’s steel exports fall 13% y/y in January

According to preliminary data released by Japan's Ministry of Finance on February 17, Japan's steel exports of all types and shapes fell 13.3% year-on-year to about 2.43 million tons in January, which is the ninth consecutive month with year-on-year declines. Japan's...

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Steel 2021 positive outlook

Steel 2021 positive outlook

According to the European Steel Association in 2020 (Eurofer), steel consumption in the EU was 134 mln tons, down 13% compared to 2019. The year just ended is the worst since 2009 and reflects a contraction on both the production and import side. The outlook for 2021...

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Global scrap prices rebound

Global scrap prices rebound

Turkey's imported scrap prices have shown strong fluctuation in recent deals. Buyers are actively booking new cargoes for March 21 shipments due to increased domestic demand for finished steel. Japan's main EAF steel mill, Tokyo Steel has increased the purchase price...

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Aluminum close to highs

Aluminum close to highs

Aluminum has reached December 2020 highs in the $2093/ton area (100% target of Fibonacci expansion from the bearish channel breakout point). Will it break up or generate an initial correction? Analyzing the "Uninterrupted Close" statistic, aluminum has closed positive...

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Global scrap prices rebound

Global scrap prices rebound

Turkey's imported scrap prices have shown strong fluctuation in recent deals. Buyers are actively booking new cargoes for March 21 shipments due to increased domestic demand for finished steel. Japan's main EAF steel mill, Tokyo Steel has increased the purchase price...

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Commodity Insight – Aluminium

Commodity Insight – Aluminium

Great upward momentum for London-listed aluminum, with prices now in the $2070 area, approaching the recent highs of late December 2020 at $2090/ton. Possible new tests of this level. Will prices succeed in to the break up or will there be new reversals? Analyzing the...

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Iron ore exceeds the high of the last 7 years

Iron ore exceeds the high of the last 7 years

Iron ore spot prices continue to trend upward, confirming the trend that began in May. The price has surpassed the high seen in 2013 ($130/ton), moving above the $150/ton area. Demand from China's steel industry remains strong, with production expected to exceed 1...

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