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Tag Archives: metals

China Macro & Metals: tighter credit conditions will weigh on metals markets

Sentiment in China’s metals markets was buoyant in July and August on easy credit conditions and expectations of further stimulus flowing to infrastructure. But September saw a distinct change of tone as cash flows tightened, demand waned and metals prices came under pressure, leaving the market hoping for better after China’s Golden Week holiday. Paul Bartholomew discusses what could happen in coming months. Money’s too tight to mention Beijing unsurprisingly opened the monetary sluice...

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Commodity Tracker: 5 charts to watch this week

The global oil supply path into 2021 is in focus this week, along with the impact of storms on US  oil output. Away from oil, we also survey they outlook for LNG demand in Asia and the European power mix, and look at the key factors driving the copper market. 1. OPEC+ compliance, Libya output to drive global oil supply growth in Q4   What’s happening? Global oil supply has increased by 3.6 million b/d from July through September after dropping more than 13 million b/d from April to...

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Commodity Tracker: 4 charts to watch this week

This week’s Commodity Tracker kicks off with a look at easing stocks of refined oil products at the Middle East’s biggest storage hub of Fujairah, as well as the prospects for gas supply in Europe over winter amid bulging storages. The return of 2.7 GW of capacity to the German and Dutch power markets goes some way to easing fears of shortages with French nuclear capacity low, and European steel plants are eyeing up improved margins for 2021. 1. Fujairah oil stocks drop to eight-month low as...

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Commodity Tracker: 4 charts to watch this week

A hike in rhodium prices, South Korean nuclear availability and European power prices are all in the mix in this week’s selection of trends to watch in energy and raw materials markets. 1. Will supply-constrained rhodium see more upside after all-time high?   What’s happening? After a period of lower prices in the first and second quarter of 2020 as lockdowns and low automotive production weighed on demand, the rhodium market once again picked up the bullish streak seen early...

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Commodity Tracker: 5 charts to watch this week

As the 36th Asia-Pacific Petroleum Conference (APPEC) opens, this week’s Tracker kicks off with a look at Saudi crude oil pricing into Asia. In Europe, meanwhile, steel prices are recovering, and carbon emission allowances face a volatile period amid legislative change. 1. Largest Saudi crude OSP cuts are to Asia; headwinds to higher exports remain     What’s happening? Saudi Aramco cut Official Selling Prices (OSPs) to nearly all regions on low refining margins and weak market...

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Commodity Tracker: 6 charts to watch this week

Recovery in two metals markets – steel and cobalt – tops S&P Global Platts editors’ pick of themes to watch this week. Plus, Middle East oil products, European gas sector summer maintenance and coal-fired generation margins. 1. Steel prices tell story of two-tier recovery in Europe and China   What’s happening?  An upward trend in Chinese and German domestic hot rolled steel coil (HRC) prices indicates market recovery from COVID-19-related restrictions in both countries, but...

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Canadian aluminum tariffs likely déjà vu moment for some

Settling in with a favorite film can be comforting in times like these. There’s something reassuring about seeing the same familiar scenes play out on screen. I still laugh at Rodney Dangerfield’s obnoxious tycoon, Al Czervik, in “Caddyshack” or the scene in “Office Space” where disgruntled co-workers take out their frustrations on an unreliable fax machine. Those are classic comedies, though. A repeat viewing of a mob drama like “Goodfellas” can generate the same anxious feelings and...

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Around the tracks: World’s auto markets sink in H1

As the coronavirus crisis plays out, Clement Choo assesses the recovery in the world’s key auto production hubs, with China the exception to an otherwise weak environment. Carmakers across the globe saw initial signs of improvement in the second quarter, but the auto industry remains concerned about the prospects for a long term recovery as COVID-19 cases have continued to flare up. As a result, several countries could find themselves implementing another lockdown, which would delay...

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Commodity Tracker: 5 charts to watch this week

The diverging performance of commodities amid the coronavirus crisis, Indian oil demand and iron ore’s continued climb are explored in this week’s selection of energy and raw material trends to watch. Plus, Henry Hub rallies, and UK coal generation retreats. 1. COVID-19’s uneven impact on commodities   Click to enlarge What’s happening? The S&P GCSI commodity index is down 34% since the start of the year, but commodities have experienced widely different impacts from the...

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Deglobalization trend gains pace in lithium battery supply chain

The COVID-19 crisis has exacerbated concerns across the lithium-ion battery industry about China’s dominance of the supply chain. The pandemic has also highlighted the need for local supply chains, in order to improve sustainability and work towards net zero targets. Despite some momentum, however, the development of regional supply chains still faces challenges that go beyond simply raising equity. Although there has been controversy about Chinese dominance, other regions such as South...

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