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Tin: macroeconomic pressure reduces demand
The 19th annual tin user survey conducted by the International Tin Association (ITA) estimated that the use of refined tin in 2022 declined by -3.2% to 376,900 tonnes, lower than the preliminary estimate of -0.6% made by respondents to last year's Q2/Q3 survey. The...
Iron ore: Vale’s production falls in Q3
Brazilian mining company Vale produced 86.23m tonnes of iron ore in the third quarter (Q3) of 2023, down 3.9% year-on-year, and 9.18m tonnes of pellets, up 11.1%. Iron ore and pellet production increased by 9.5% and 0.7% respectively compared to the previous quarter....
Zinc: the market moves towards oversupply
Zinc recorded the second worst performance among base metals on the London Metal Exchange (LME) this year. Three-month zinc on the LME is trading at around $2,450 per tonne, down 18% from the beginning of the year. Only the nickel contract fared worse. Zinc's relative...
Steel: World Steel Association expects demand to grow by 1.8% in 2023
The World Steel Association (Worldsteel) has published an updated Short Range Outlook (SRO) for 2023 and 2024. The association expects steel demand to grow by 1.8 per cent in 2023 and reach 1,814.5 million tonnes after a 3.3 per cent contraction in 2022. In 2024,...