What a difference 2 years can make. That’s the obvious conclusion from comparing US exports of caustic soda today, with those seen in the years to 2012. As the chart, based on Global Trade Information Services data shows: Net US exports fell 4% in Q1 (red column) versus 2012 (blue), and were 19% below 2013 levels Detailed […]
Chemicals and the Economy
Caustic soda inventories rise as aluminium cutbacks begin
An accident waiting to happen is perhaps the best way to describe aluminium markets – the key swing outlet for caustic soda. Caustic soda is normally a late cycle product, with sales then focused on the mining industry. Industry leader Alcoa’s results confirm the disappointing trend. It lost money in Q1, whilst revenue fell 8% due to a decline […]
Oil markets pressured by copper price falls
Whisper it quietly to your friends in the oil business. But oil prices are looking very vulnerable. Producers and the central banks have done a great job in creating the myth of imminent shortages – these have always been ‘just about to happen’ as a result of supply disruptions or the long-promised recovery in global […]
Aluminium shortage “temporary and artificial” says world’s largest buyer
When was the last time you told your customers that they would have to wait 570 days for delivery of material for which they have already paid? You’ve never done this? Well, you need to take lessons from those super-smart people who own the aluminium warehouses, such as Goldman Sachs (pictured above by Reuters). As the blog […]
Aluminium stocks enough to build nearly 2 years’ supply of cars
We all know that strange things have been happening in global commodity markets in the past 5 years. Central banks have been pumping out free cash, which has been used to fund speculative trading by many of the major investment banks. In turn this has taken many prices to new records. And this was all happening when […]
Aluminium prices rise as stocks reach record levels
The blog was with the mining industry last week, when giving the keynote speech on The Impact of the ‘Demographic Cliff’ on Demand Patterns at the annual Metal-Pages conference. Mining is seeing similar demand patterns to those in chemicals, whilst the price performance of aluminium shows very similar influences to those at work in oil […]
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