it lasts. South Africa’s rand weakened as investors waited for employment data, showing growth still matters. On supply, Zambia cleared Mopani Copper Mines’ Mufulira underground operations to restart after new safety steps, and Liberia said iron ore output could rise to about 30 million metric tons this year as ArcelorMittal Liberia and other projects ramp up.
Why should I care?
For markets: More metals can change pricing power.
Extra copper and iron ore supply can help manufacturers and infrastructure projects by easing input costs, but it can also cap miners’ pricing power if demand doesn’t keep up. The bigger variable is oil: any flare-up around the Strait of Hormuz can lift energy prices fast, with knock-on effects for inflation expectations and central-bank plans.
The bigger picture: Disinflation helps but it’s not the whole story.
Nigeria’s cooling inflation points to improving stability, yet investors still need proof that jobs and growth are following through, especially across larger economies like South Africa. And even when the macro trend improves, logistics shocks can still bite, as Kenya’s airport delays during an aviation-union strike showed.
