News:

Copper

 

 

 

 

Copper Prices reached a two-month high in the middle of October, touching on USD 10,652 p/ton. Spreads on the spot versus 3 month forward market reached their highest in over 27 years, driven by conditions which sees demand outstrip supply. According to Bloomberg, freely available inventories have shrunk by more than 90% over the past two months in LME-monitored warehouse after a surge in orders. However, continued concerns around weak Chinese factory output, debt problems in the property market and an energy crunch will need to be closely monitored in the short to medium term going into 2022. 

 

Talking

Points:

Blog

 

This month, the central focus around the world seems to be firmly aimed at Glasgow for The 2021 United Nations Climate Change Conference, also known as COP26. The conference is squarely directed at bringing together governments, business and world leaders in an effort to accelerate positive action and policy implementation on climate change, as set out by the goals of the Paris agreement. With the Pentagon now naming climate change as the number one security threat globally, it seems that the once buzzword “climate change” has taken on a much more serious tone. The goal towards net zero globally seems to be an almost impossible task when assessing the obstacles facing, and changes required to,  global economic systems in order to achieve this. However, the human race is the smartest of all living creatures. With the speed of technological advancement seen in the last 20 years, one is encouraged to feel a sense of slight optimism that we can win this battle, for the sake of our future generations. This year the summit seems to be focusing more on the role of businesses and how they will lead the way forward. We all have a responsibility towards this common goal. Here at AMSI we want to do our part too.       

 

Mining:

New in

At the end of August, the LME launched their new LME Passport, a new electronic certificate of analysis (CoA) and digital credentials register for LME listed companies. According to the LME, the passport will serve a dual purpose as a digital store for electronic CoAs of metal physically delivered into and out of the LME ecosystem, replacing the current paper-based model, and it will also act as a value add facility for recording information related to metals’ sustainability. By encouraging members of the LME system to take steps towards greater transparency around their sustainability credentials, companies can directly respond to the growing demand for consumer pressure in the areas of ESG (Environmental, social and governance) disclosure. The passport program will be rolled out over the next 18 months to warehouse organisations, starting with aluminium and eventually encompassing the other base metals. Producer obligations will come into effect at the beginning of 2024. The message around the world seems to be crystal clear. Climate first.