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By: Natalie Scott-Gray, Senior Metals Demand Analyst, EMEA and Asia region
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Natalie Scott-Gray, StoneX Senior Metals Analyst, explains how Indonesia's tightening control over mineral exports, China's upcoming Politburo meeting and new carbon regulations are reshaping the outlook for nickel, aluminium, copper and other base metals. She discusses why supply-side risks may prove more influential than broad stimulus expectations during the second half of the year.
Copper prices are back in focus as physical supply tightens, inventories decline and demand strengthens. Natalie Scott-Gray, StoneX Senior Metals Analyst, explains why the copper market is becoming fundamentally tighter, how Section 232 tariff uncertainty and China's buying patterns are reshaping global flows, and why AI, electrification and grid investment continue to support the long-term outlook despite recent weakness in technology stocks.
Indonesia's tightening grip on mineral exports is becoming one of the most important supply-side drivers for global metals markets. As export controls expand and nickel production quotas are reviewed, supply constraints may outweigh demand uncertainty during the second half of the year.
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