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Trade wars, slowing economic growth, Brexit… the storm clouds are gathering for metals markets around the world. How has the new protectionism, born of geopolitical competition, affected metal markets – and how might it affect them in the future? To focus on different aspects of this question, Fastmarkets has interviewed various company heads for this year’s annual LME Week event to find out the degree to which the unpredictability of trade relations has been shaping their plans.
The London Metal Exchange’s mission to create more transparency in stock levels might not be popular with the whole market but it is a big step toward fixing key issues with the exchange, sources told Fastmarkets.
Manganese ore market participants are predicting further sharp price falls due to oversupply, rising stocks and the prospect of traders liquidating positions to secure cash.
The proposed takeover of steelmaker British Steel by a Turkish army pension fund is looking uncertain with the government in the United Kingdom indicating that it is willing to open talks with other interested parties, the official receiver said.
Chinese cobalt metal spot prices have softened due to slow spot activity, while tight supply of certain domestic brands has eased amid profit-taking.