Will there be a rebound in Chinese nickel purchases in 2024? Furthermore, will it serve to bolster the market in the near term? Following a lengthy period of de-stocking last year, these are just some of the questions with implications for the global nickel price. As the world moves toward cleaner energy sources, certain minerals […]
Sohrab Darabshaw
Subdued Market Reaction So Far to China’s Targeted 2024 Growth Rate
Investors, traders, and the metals community continue to anticipate fresh stimulus measures from China’s top leaders, which could potentially kickstart economic growth, increase metals consumption, and affect metal prices. However, they remain rather disappointed with Beijing’s target 5% growth for 2024. Moreover, demand has remained subdued since the Lunar New Year holiday. Almost everyone was […]
JSW Steel Aiding Italy’s Steel Industry with €140 Million Investment
One of India’s fastest-growing steel companies JSW Steel, recently announced the next step in its growth plan. In a major steel news event, JSW Steel Italy SRL inked a memorandum of understanding (MoU) with the Italian government to re-start production operations at the Piombino plant via a €140 million investment. According to JSW Steel, the […]
Indian Steel Demand Battles Influx of Chinese Imports
In July, India became a net importer of steel for the fourth time in the last year. And therein lies a tale of tariffs, changes in steel prices, and supply and demand. However, before discussing those issues, it’s important to revisit the facts. A recent report by India’s Steel Ministry revealed the country became a […]
Indonesia’s Nickel Dominance Spells Trouble for Global Industry
The global nickel mining industry is under stress, and the primary reason is an oversupply of low-cost nickel from Indonesia. Moreover, this constant supply continues to support a major global surplus, placing downward pressure on the nickel price. At this point, the Southeast Asian nation has already cornered more than half of the world’s supply […]
Tesla’s Steel Causes Strain…and Stain
The world may have come to expect near-perfection from Elon Musk and his products, resulting in the slightest problem with any of them getting amplified in the media. Nonetheless, the latest U.S. steel news has not been kind to Tesla’s recently-launched and significantly delayed electric Cybertruck. The truck started shipping last December, having seen several […]
China’s Aluminum Exports to EU Plunge 30% Under Carbon Tariff
Earlier this week, the China Nonferrous Metals Industry Association reported a 30% decline in the volume of aluminum products exported from China to the European Union. Aluminum manufacturing analysts quickly pointed out that this most likely resulted from the bloc’s 2023 carbon border tariff. The EU’s Carbon Border Adjustment Mechanism (CBAM) represents a new way […]
China’s Iron Ore Imports Surge Despite Evergrande Crisis
The first month of 2024 saw iron ore kick-off to a strong start, mainly due to increasing prices and substantial imports by China. Looking at iron ore futures, many investors were optimistic that the world’s largest purchaser of ore would continue implementing sufficient stimulus measures to enhance demand. Iron ore is a critical ingredient in […]
China’s Economic Jitters: Evergrande Liquidation Sparks Global Concerns
The recent liquidation order by a Hong Kong court of debt-ridden Chinese property giant Evergrande has once again raised that dreaded question: is China’s economy a ticking time bomb? It is a question experts continue to ask amid worsening Chinese construction news. Not long ago, two rival property construction firms, Evergrande and Country Garden, were […]
Copper Demand: Australian Exports to China Surge to Record High, Signaling Thaw in Relations
The frosty relationship between China and Australia continues to thaw, as evidenced in the bi-lateral trade indices indicate. Now, thanks to China’s growing copper demand, the world possesses one more indicator. According to recently released data, Australia exported 27,500 metric tons of copper ores and concentrates to China in November last year. At U.S. $44.5 […]
