ORYX Commodity News: Goose for Christmas and Fruit Punch in Summer

  • Steep rises in nickel stopped for the moment. Stimulus of electro-mobility is still very much far in the future. Even China is putting on the brakes because of debt reduction and environmental issues.
  • But the market prognosis for 2018 still looking positive. World trade is growing again. Final demand for stainless steel is good. Deficits in supply are successively reducing LME stocks.
  • China is investing more in electric arc furnaces. These are predestined to use scrap. Scrap is low in emissions and attractive. This is good for the environment and the economy.
  • Glencore is forming a partnership with the teachers of Ontario which will focus on mining royalties. The teachers’ pension fund hopes for good returns. Glencore can build on its mining portfolio and profit from its marketing.