China's appetite for overseas metal seems to be fading, with Yangshan copper import premiums falling to $28.50 a tonne, the lowest since at least 2012.

Bank of America forecasts iron ore will average $172.2 a tonne this year; then $143.8 a tonne in 2022.

Coal is seeing a dramatic spike in demand just as several major miners are hit with production problems, sparking a surge in prices from China to Europe and the US.

Companies are feeling increased pressure from shareholders and institutional investors to prioritize ESG factors.

The best chance for lower iron ore prices comes from rising supply, and there are signs this is now being delivered.

Capex budgets are on the rise after major mining companies were able to weather the covid-19 pandemic.

Yangshan copper premium fell to $30.50 a tonne, its lowest since February 2016, indicating weakening demand for imported metal into China.

Spot prices of iron ore with 62% iron content for delivery to China gained $6 to $206.5 a tonne on Tuesday, according to SteelHome consultancy.