Commodities Weekly All eyes on the next US fiscal package Mounting signs of a rapid rebound in the Chinese manufacturing and construction sectors, as well as a further depreciation in the US dollar, offered some support to industrial commodity prices this... 31st July 2020 · 7 mins read
Energy Outlook Energy demand to remain subdued for some time yet The partial easing of coronavirus containment measures has allowed energy demand and prices to pick up from the lows recorded earlier this year. That said, we anticipate that the recovery in energy... 29th July 2020 · 18 mins read
Commodities Outlook China to the rescue The ongoing recovery in economic activity – from lows earlier this year – will support the prices of most commodities in the second half of 2020 and into 2021. We are particularly positive on the... 29th July 2020 · 1 min read
Commodities Ultra-low real yields to keep gold elevated Despite some jitters in equity markets, commodity prices generally ended the week higher. In what is becoming a well-worn pattern, optimism about a robust economic recovery continued to build – this... 24th July 2020 · 8 mins read
Commodities Weekly Prices in a narrow range amid virus concerns A raft of positive Chinese economic data this week offered some support to commodity prices, but concerns about the rise in coronavirus infections in the US and in Latin America prevented any... 17th July 2020 · 7 mins read
Commodities Update China’s opportunistic buying has run its course China’s commodity import volumes surged in June, while exports remained in the doldrums. We expect this trend to partially reverse in the coming months as higher commodity prices will curb bargain... 14th July 2020 · 2 mins read
Commodities Weekly Broad-based recovery leaving energy behind The prices of most commodities rose this week, with the exception of energy. In particular, industrial metal prices rose alongside Chinese equities. Elsewhere, the European economic recovery is... 10th July 2020 · 7 mins read
Energy Data Response US Weekly Petroleum Status Report An unexpected surge in net imports pushed up US commercial crude stocks this week. But we think imports will fall back soon given the sharp drop in oil production outside the US in recent months. 8th July 2020 · 2 mins read
Energy Chart Pack On the way up … Energy prices continued to recover in June, but they remain significantly lower than at the start of the year. What’s more, we do not expect them to recover to pre-virus levels until 2022 at the... 7th July 2020 · 6 mins read
Metals Chart Pack A brighter backdrop ahead for industrial metals June was another good month for industrial metals. The prices of base metals made further gains, although those used in steel alloys (e.g. zinc and nickel) performed less well as wet weather in... 3rd July 2020 · 6 mins read
Commodities Weekly Prices lifted by encouraging economic data This week was fairly quiet for commodities, with most prices rising slightly. In particular, energy prices in the US and Europe were boosted by the partial (albeit uneven) paring back of virus... 3rd July 2020 · 7 mins read
Commodities Chart Pack Strong Chinese recovery is good news The more industrial commodities performed particularly strongly in June on the back of the ongoing revival in global economic activity. We have become more positive on the outlook for industrial... 2nd July 2020 · 8 mins read
Commodities Weekly Despite the recent wobble, prices should rebound The prices of most industrial commodities fell this week owing primarily to concerns about the spread of the coronavirus, particularly in the south of the US. Falls in equity markets also weighed on... 26th June 2020 · 8 mins read
Commodities Update Revisiting our forecasts … Recent revisions to our macroeconomic and markets forecasts are more positive for industrial metals than oil, and they support our slightly bearish outlook for the price of gold. 25th June 2020 · 3 mins read
Commodities Weekly Revising up our metals forecasts as China rebounds Industrial commodity prices continued to claw back their virus-induced losses this week. These gains helped to extend the general rise in the prices of industrial commodities since late March... 19th June 2020 · 8 mins read
Industrial Metals Update A minor star called tin We have turned more positive on the outlook for the price of tin. China’s demand is coming back strongly after a virus-related slump and, in the more medium-term, tin will benefit from its heavy use... 19th June 2020 · 4 mins read
