December 2018

HOTTER ON METALS: Aluminium’s Section 232 winners and losers

It’s been nine months since the United States announced Section 232 tariffs, and over six months since a 10% tax was applied to imports of aluminium from Canada, Mexico and the European Union.

HOTTER ON METALS: Blockchain is coming

Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.

HOTTER ON METALS: The Glencore succession begins

Since its merger with Xstrata, Glencore - previously a trading and marketing firm - has become a mining firm whose earnings before interest, taxes, depreciation and amortization is dominated by earnings from its industrial activities. The recent appointment of Peter Freyberg as head of the company’s industrial mining assets, a newly created position with oversight and responsibility for all Glencore industrial mining assets, underscores that.