Commodities Commodities Overview Chart Pack (Jan. 2024) Our Commodities Overview Chart Pack has been updated with the latest data and our analysis of recent developments. We think the big declines in energy prices are now behind us. Oil prices will remain... 5th January 2024 · 0 mins read
Industrial Metals Update Global Steel Production (Nov.) The monthly falls in China’s steel production continued in November, but output over the year is almost certain to be higher than in 2022. Production in India grew quickly and should remain strong... 21st December 2023 · 2 mins read
Commodities Outlook Metals to benefit in 2024 from green transition We expect most commodity prices to rise in 2024 as major central banks loosen monetary policy and economic activity starts to pick up. Meanwhile, China’s policymakers have taken steps to support the... 15th December 2023 · 31 mins read
Europe’s Gas Prices Could Fall Further Next Year on Subdued Demand, Ample Inventories “My expectation is that the European Union will have more than sufficient gas in storage at the start of next year’s summer to rebuild ahead of next year’s winter,” says Bill Weatherburn, commodities... 6th December 2023 · Wall Street Journal
Energy Update Oil prices to fall by the end of next year Rising OPEC+ output in Q2 2024 should leave global crude supply less constrained than we had previously expected. This, together with only modest growth in global oil demand, should push the crude... 4th December 2023 · 3 mins read
Commodities Weekly OPEC+’s last stand The voluntary production cuts announced by OPEC+ this week will support oil prices in the first quarter of next year but there is clearly dissent among the ranks. We think OPEC+’s next move will be to... 1st December 2023 · 4 mins read
Energy Update Guyana oil production in for the long haul Guyana’s oil production looks set to grow quickly over the next few years even if the total volume can only play a small role in raising global supply. That said, substantial reserves and low break... 27th November 2023 · 3 mins read
Metals Data Response Global Steel Production (Oct.) The monthly fall in China’s steel production should continue over the next two months, but the outlook is a little brighter in 2024. Elsewhere, production rose in October, and India’s production in... 22nd November 2023 · 3 mins read
Metals Data Response Global Aluminium Production (Oct.) Global aluminium production rose in October and set a monthly record. This is unlikely to be broken over the next few months as China’s output should fall as smelters curb output over winter. 20th November 2023 · 2 mins read
Commodities Weekly Another sour week for oil, precious metals to shine Gold and silver prices soared this week on renewed optimism that the Fed had hiked to the peak of its monetary policy mountain. We expect prices to rise further when interest rates begin to be cut... 17th November 2023 · 5 mins read
Industrial Metals Update Panama protests against copper production Protests against a large copper mine have raged in Panama over the past few weeks. If mine production ceased, there would be noticeable impact on global supply but the risk of this happening is small... 9th November 2023 · 2 mins read
Commodities Update China’s commodity imports holding up China’s import data for October indicated that its demand for commodities remains robust but we think that further growth in the next couple of months is likely to be modest. 7th November 2023 · 2 mins read
Commodities Chart Pack Commodities Overview Chart Pack (Nov. 2023) Our Commodities Overview Chart Pack has been updated with the latest data and our analysis of recent developments. Energy and precious metal prices will remain volatile while there is a risk that the... 3rd November 2023 · 1 min read
Energy Chart Pack Energy Chart Pack (Nov. 2023) Our Energy Chart Pack has been updated with the latest data and our analysis of recent developments. Energy prices will remain historically high over the remainder of this year. The Israel-Hamas... 3rd November 2023 · 1 min read
Commodities Update China PMIs suggest metals prices to hold steady The PMI surveys released so far for China weakened in October with the manufacturing PMIs falling back into contractionary territory. We think China’s demand for commodities will be supported by... 1st November 2023 · 3 mins read
China coal imports hit record high after surge in air conditioning use Bill Weatherburn, commodities analyst at Capital Economics, said: “Energy use has gone up, so they need a lot more electricity and they have made up for the lack of hydropower by importing more coal.” 30th October 2023 · The Telegraph
