The World Platinum Investment Council (WPIC) released a report this month with a bullish view of the platinum market in 2021. The WPIC is bullish on the basis of stronger investment demand and restricted production in South Africa. Sign up today for Gunpowder, MetalMiner’s free, biweekly e-newsletter featuring news, analysis and more. Platinum in deficit […]
Stuart Burns
Problem on the high seas: container markets see skyrocketing rates
The disconnect in recovery between Asia and North America/Europe is having an unprecedented impact on the transpacific and Asia-Europe container markets. The world’s shipping industry had a near-death experience in the early part of the year as China went into lockdown. To its credit and to consumers’ detriment, the industry has since got a grip […]
China recovery drives metals prices, but what of 2021?
Industrial metals have had a good few months in Q3, in part due to a China recovery. It’s not a bull market, of course — we have called it a sideways market. However, it has been a pretty positive sideways market. Copper is up from $2.60/lb at the end of the European lockdowns to $3.20/lb […]
Major RCEP trade deal goes ahead with China — and without the U.S.
We all remember the Obama-era Trans-Pacific Partnership (TTP) trade deal, right? The trade deal the U.S. withdrew from in early 2017 after President Donald Trump called it a disaster for American workers? Well, Australia, Japan, and nine other countries went ahead with it, lowering tariffs and bolstering trade within the region. But, crucially, TTP did […]
Tata Steel looks to split up European units to find buyers
Tata Steel has been having a pretty horrid time trying to get rid of its loss-making European steel business. Last year, the European Commission rejected a potential merger with ThyssenKrupp’s equally struggling steel business on competition grounds. The combination of two such significant European steelmakers would give them undue dominance in the European market, the […]
Indian economy devastated by coronavirus pandemic is showing signs of recovery
India came in for considerable criticism over its reaction to the spread of the coronavirus pandemic in the first wave. Locking down the economy almost overnight and trapping millions of migrant workers from returning home, only to then release them a week or two later to flood out into rural areas and spread the virus, […]
Oil price bounces back on encouraging COVID vaccine news
The oil price was not alone in responding positively to this week’s encouraging news from Pfizer and BioNTech regarding progress with their mRNA COVID vaccine. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides buying organizations with a complete understanding of the fundamental factors driving prices and a detailed forecast that can be […]
China’s steel trade is returning to form as import-export balance recalibrates
We wrote last month how China’s rapid recovery from the COVID-19 pandemic resulted in the country importing semi-finished products for which it previously had been self-reliant or even a net exporter for the last decade. Some steel products and primary aluminum swung into becoming significant net inflows for the economy during the summer months. But […]
A view of the U.S. presidential election from across the pond
As poll workers continue to count the final votes in the U.S. presidential election, it looks like we have a Biden victory — not by the landslide he and many of his supporters had hoped for, but a victory nevertheless. There will be ongoing legal arguments, demands for recounts, and claims of fraud. However, the […]
The market’s reaction to the U.S. presidential election results so far
Markets are sharing wider society’s caution today, as early results show the U.S. presidential election result is in the balance. Against some predictions, the incumbent has held on to Florida and thereby kept himself firmly in the running. Other swing states may not see results for 24 or even 48 hours. Postal votes received before […]
