The commodity chain, observed. From mine to mill.
DBX observes every link, every day, by satellite and vessel tracking: the mines and smelters that produce, the terminals and vessels that move the cargo, and the ports, mills and smelters that consume it. Supply and demand, measured where they happen, before they show up in reported data.
One chain. Every link observed, every day.
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Mines & smeltersThermal activity · output
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Export terminalsStockpiles · loadings
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VesselsCargo · route · ETA
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Import portsDischarges · stocks
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Mills & smeltersRun-rates · consumption
- Reuters
- Bloomberg
- SGX
- Fastmarkets
- McCloskey
- Montel
- Lloyd’s List
- Global Commodities
- Argus
- Energy Aspects
Seven markets, one observed chain.
The same plant, port and vessel observation runs across every commodity we cover.
- COAL Export terminal stockpiles, seaborne flows and country balances, with China, India and Indonesia monitors.
- IRON ORE Every cargo from load port to discharge port, with a nowcast for the month in progress.
- STEEL Blast furnace and mill activity, plant by plant, including the European Steel Monitor.
- COPPER A daily activity index for each smelter, against its own seasonal range.
- ALUMINIUM Smelter utilisation and alumina and bauxite deliveries, in the Global Aluminium Supply Monitor.
- NICKEL Smelter activity coverage, being extended now.
- BAUXITE & ALUMINA Seaborne flows from mine regions to refineries and smelters.
Every link of the chain, in one platform.
Plant activity, seaborne flows and supply and demand balances, side by side, updated daily and exportable to your own models.
Satellite data first. Every figure starts as a pixel.
We don’t wait for operators, customs or surveys to report. We watch the physical assets from orbit, turn what we see into numbers, and have analysts check every one.
Satellite & thermal observation
High-resolution optical and thermal imaging captures stockpile footprints, port activity, vessel movements and industrial heat signatures, from blast furnaces to smelters to bulk carriers at anchor. Multiple passes per day, every day.
AI-powered supply & demand models
Machine-learning models turn satellite observations, vessel positions, trade records and macro signals into forward supply and demand forecasts, validated monthly against official outturn data, at a minimum of 95% accuracy.
Expert analysis & research
Every data point is reviewed by analysts with 15+ years in commodity trading before it reaches a client. Monthly monitors, daily insight updates and bespoke research: intelligence, not raw data.
Reported data tells you what happened. Observed data tells you what’s happening.
Most commodity numbers come from operator releases, customs filings and surveys, so they arrive weeks late, partial, and are often revised. DBX starts from the asset itself.
| WHAT YOU NEED TO KNOW | REPORTED DATA | DBX · OBSERVED |
|---|---|---|
| Are producers running? | Operator releases, monthly and partial | Activity at each mine and smelter, observed daily |
| How much is stockpiled, at both ends? | Port statistics, lagged and patchy | Stockpile volumes at export and import terminals, measured daily from imagery |
| What’s shipping, and where to? | Customs data, weeks behind | Vessel-level tracking of seaborne flows, route by route, daily |
| Are the buyers consuming it? | Consumption surveys, monthly and revised | Run-rates at consuming mills and smelters, observed daily |
| Will supply meet demand? | Quarterly balances, revised after the fact | Forward supply and demand forecasts, scored publicly against outturn |
| A plant is reported shut. Is it? | Wait for the company statement | Check the asset’s activity directly |
Supply and demand rarely move in step. The gaps between them, at every link from mine to mill, are where the trade is. DBX shows you the whole chain.
See the whole chain
for your commodity.
We’ll walk you through the mines, terminals, vessels and plants behind your exposure, and show where DBX history would have called the move.