Abstract
Less than 2 years ago the general view, as expressed in the International Monetary Fund’s World Economic Outlook, was that the global economy would suffer but a mild correction in 2008 and 2009 and that the strong economic expansion then under way would soon resume. This expansion, spearheaded by rapid growth in China and other emerging economies, was fuelling buoyantly rising demand for all raw materials and forcing up their prices. Most commentators subscribed to the belief that the mineral industries were embarking on a period of sustained prosperity such as they had allegedly not witnessed since the 1960s. Such is the stuff that dreams are made on!
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
ABS (2009) Mineral and petroleum exploration, Australia (Ref:8412.0), successive issues. Australian Bureau of Statistics, Canberra, Australia
BGS (2009) World mineral production, successive issues. British Geological Survey, Keyworth, Nottingham
BEA (2009) Table 1.1.9 of the National Income and Product Accounts (http://www.bea.gov/national.nipaweb), consulted August 20th 2009, Bureau of Economic Analysis, Washington
Economist (2009) The Economist commodity-price index for metals, successive weekly issues to August 22nd 2009. The Economist, London
IAI (2009a) Form 150 – Primary aluminium production, monthly (http://www.world-aluminium.org/statistics), International Aluminium Institute, London (consulted August 20th 2009)
IAI (2009b) Form 351 – Aluminium inventories, monthly (http://www.world-aluminium.org/statistics). International Aluminium Institute, London (consulted August 20th 2009)
ICSG (2009a) Press Release July 10th 2009, New edition of directory of copper mines and plants. International Copper Study Group, Lisbon
ICSG (2009b) Press Release July 31st 2009 and earlier releases, Release of ICSG 2009 statistical yearbook. International Copper Study Group, Lisbon
ICSG (2009c) Press Release August 20th 2009 and earlier releases, Copper preliminary data for May 2009. International Copper Study Group, Lisbon
ILZSG (2009a) Lead and zinc statistics (August Monthly Bulletin and earlier issues). International Lead and Zinc Study Group, Lisbon
ILZSG (2009b) Statistical Database (http://www.ilzsg.org), consulted August 20th 2009. International Lead and Zinc Study Group, Lisbon
IMF (2009a) World Economic Outlook April 2009 Database (http://www.imf.org), and earlier issues, consulted August 20th 2009. International Monetary Fund, Washington
IMF (2009b) World Economic Outlook Update, July 2009. International Monetary Fund, Washington
LME (2009) London Metal Exchange daily data (http://www.lme.co.uk), last consulted August 26th, 2009. London Metal Exchange, London
MEG (2009) World Exploration Trends, A special report from Metals Economics Group for the PDAC International Convention, February 2009, based on an annual survey of Corporate Exploration Strategies, and earlier issues of the underlying surveys. Metals Economics Group, Halifax, Nova Scotia
NRCAN (2008) Mineral exploration, deposit appraisal, and mine complex development activity in Canada, Canadian Minerals Yearbook 2007 and earlier issues. Natural Resources Canada, Ottawa
NRCAN (2009) Exploration and deposit appraisal expenditures, by province and territory, by mineral commodity sought, 2008, March 2009 and earlier issues, (http://mmsd.mms.nrcan.gc.ca/stat-stat/expl-expl/8-eng.aspx), consulted August 20th 2009. Natural Resources Canada, Ottawa
USGS (2008a) Individual commodity chapters, Volume I, Metals and Minerals, Minerals Yearbook 2007, and earlier issues, (http://minerals.usgs.gov/minerals/pubs/commodity/myb). US Geological Survey, Washington
USGS (2008b) Mining and quarrying trends in 2007, Table 8, Volume I, Metals and Minerals, Minerals Yearbook 2007, and earlier issues, (http://minerals.usgs.gov/minerals/pubs/commodity/myb). US Geological Survey, Washington
WBMS (2009) World Metal Statistics, July 2009 and earlier monthly issues. World Bureau of Metal Statistics, Ware, Hertfordshire
World Bank (2009) World development indicators 2009. World Bank, Washington
WSA (2009a) Steel Statistical Yearbook 2008, and earlier issues. World Steel Association, Brussels
WSA (2009b) World Steel in Figures 2009, and earlier issues. World Steel Association, Brussels
WSA (2009c) June 2009 Crude steel production, and earlier data, (http://www.worldsteel.org) consulted August 18th 2009. World Steel Association, Brussels
Author’s note:
This paper was written in September 2009. Although parts may have been overtaken by subsequent developments its basic conclusions still stand.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2011 Physica-Verlag HD
About this chapter
Cite this chapter
Crowson, P. (2011). The Economics of Current Metal Markets. In: Bleischwitz, R., Welfens, P., Zhang, Z. (eds) International Economics of Resource Efficiency. Physica-Verlag HD. https://doi.org/10.1007/978-3-7908-2601-2_5
Download citation
DOI: https://doi.org/10.1007/978-3-7908-2601-2_5
Published:
Publisher Name: Physica-Verlag HD
Print ISBN: 978-3-7908-2600-5
Online ISBN: 978-3-7908-2601-2
eBook Packages: Business and EconomicsEconomics and Finance (R0)