Commodities Weekly Quiet week offers a chance to reflect on our forecasts It was another largely uneventful week in commodity markets. For all the talk of an impending ‘super cycle’, the prices of most commodities have generally continued to struggle to extend the large... 29th January 2021 · 8 mins read
Metals Outlook 2021 to be a year of two halves Industrial metals prices had a stellar 2020, with prices ending the year higher than where they started. But just as China’s strong economic recovery lifted metals prices in 2020, so will China’s... 28th January 2021 · 19 mins read
Energy Outlook Rebound in prices to continue, except for coal The revival in oil demand and prices should continue to gather pace in 2021 as the lifting of quarantine measures enables the release of ‘pent-up’ demand associated with leisure activity. Meanwhile, a... 25th January 2021 · 19 mins read
Commodities Weekly Investor buying will support prices, for now Despite some parts of China re-introducing lockdown measures and reported virus cases around the world continuing to spiral upwards, the prices of most commodities held up well this week as investor... 22nd January 2021 · 7 mins read
Commodities Outlook Oil to outperform in 2021 In a reversal of the trend in 2020, we expect oil prices to rise this year and the prices of industrial metals and agriculturals to fall. We suspect that oil demand, particularly in developed... 22nd January 2021 · 23 mins read
Commodities Weekly Time for a reality check After the broad-based rally of the last few weeks, the prices of many industrial commodities dipped a little this week, reflecting concerns about rising new virus cases and the widespread tightening... 15th January 2021 · 7 mins read
Energy Data Response US Weekly Petroleum Status Report Crude inventories continued their downward trend, helped by the ongoing increase in crude inputs to refineries. Implied product demand picked up, but product stocks also rose. 13th January 2021 · 2 mins read
Industrial Metals Update Key calls for metals in 2021 After staging a stellar recovery in 2020, there is considerable momentum in metals prices as we embark on the new year. That said, while prices may rise further in the near term, we think that they... 13th January 2021 · 3 mins read
Commodities Weekly Saudi Arabia springs a surprise After a strong finish to 2020, most commodity prices built on their gains in the first week of January, as investor sentiment continued to prove supportive and Saudi Arabia announced that it would... 8th January 2021 · 7 mins read
Energy Data Response US Weekly Petroleum Status Report Crude stocks plummeted at the beginning of 2021, explained by an increase in refinery activity and persistently robust exports. However, rising product stocks point to subdued consumption. 6th January 2021 · 2 mins read
Commodities Chart Pack Commodity prices starting 2021 on a high Commodity prices rose in December in spite of a tightening of COVID-19 restrictions in a number of developed economies, which will weigh on commodities demand at the start of this year. Markets seem... 5th January 2021 · 8 mins read
Commodities Focus The impact of China’s trade restrictions on Australia We estimate that the exports of goods and services that are already facing restrictions by China contribute around 1.8% to Australia’s GDP. While we still expect iron ore and liquefied natural gas... 23rd December 2020 · 13 mins read
Australia & New Zealand Economics Focus The impact of China’s trade restrictions on Australia We estimate that the exports of goods and services that are already facing restrictions by China contribute around 1.8% to Australia’s GDP. While we still expect iron ore and liquefied natural gas... 23rd December 2020 · 13 mins read
Commodities Weekly Reversal of fortune for oil in 2021 We think that the price of oil will outperform most other commodity prices next year. A lifting of virus restrictions, as vaccines are rolled out, should allow for a strong bounce-back in oil demand... 18th December 2020 · 7 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks declined in the latest data as net imports plummeted. But refinery activity remains subdued and the latest virus-related restrictions could see lower product demand in the coming weeks... 16th December 2020 · 2 mins read
Industrial Metals Update Taking stock of 2020 After rising steadily in the first half of the year as virus-containment measures curbed metals consumption, exchange stocks have since started to be drawn down. While this tallies with the robust... 15th December 2020 · 5 mins read
