Insight
Metals & Mining Snapshot: long-term outlook Q4 2018
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Copper – Sentiment over fundamentals Since 2017, over 2.0Mt of projects have now been committed to. Approvals have been slow, when compared to previous cycles. “Cautious and disciplined” has been the industry mantra. Steel – Peak Chinese demand still to come China’s capacity rationalisation has largely run its course. By 2024 China will install 120 Mt of new hot metal capacity, 81% in the contestable market, largely offsetting closures. We expect a net capacity decline of only 3Mtpa compared to 2018. Met Coal – Stronger for longer Wood Mackenzie still expects prices to fall from their current highs in the medium term; but, we have slowed the decent and expect HCC prices will on average stay above US$150/t until 2023.
Table of contents
- Copper - Sentiment over fundamentals
- Steel - Peak Chinese demand still to come
- Metallurgical Coal - Stronger for longer
Tables and charts
This report includes the following images and tables:
- Mining projects committed to since the start of 2017
- China’s steel production forecast revision
- China’s steel production and changes by route
- HCC by status and seaborne demand (Mt)
- YOY change in HCC supply from projects
What's included
This report contains:
Other reports you may be interested in
Insight
Webinar: Corporate Metals & Mining - The end of capital discipline in mining?
On Wednesday 26 March, we held a webinar to discuss how capital allocation strategies are diverging in mining.
$1,050
Asset Report
Sin Quyen copper mine
A detailed analysis of the Sin Quyen copper mine.
$2,250
Asset Report
East Tennessee zinc mines
A detailed analysis of the East Tennessee zinc mines.
$2,250
