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Aluminium: prices reverse last month’s gains as US and EU discuss tariffs
A short-lived spike at the end of September saw aluminium prices rise by more than 6% on a monthly basis, only to fall during October. Not only did they lose all of last month's gains, but they returned to their August lows by mid-month. Despite the declines,...
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...