Commodities Outlook It can only get better At the time of writing, economic activity has ground to a halt around the world owing to virus containment measures. For the most part, commodities prices have plunged given the collapse in demand. We... 24th April 2020 · 19 mins read
Commodities Outlook Cautiously optimistic A gradual rebound in global economic growth and, in many cases, constrained supply mean that we are broadly positive on the outlook for most commodity prices in 2020-21. One exception is the price of... 27th January 2020 · 25 mins read
Commodities Outlook Turning a corner in 2020 While there appears to be little to lift spirits in the near term, we think the macro-economic backdrop for commodity markets will turn more positive during 2020. We expect global economic growth to... 18th October 2019 · 25 mins read
Commodities Outlook Not out of the woods yet Subdued economic growth will weigh on the prices of most industrial and energy commodities for the remainder of 2019. What’s more, our view that there will be a further escalation in the US-China... 19th July 2019 · 25 mins read
Commodities Outlook Short-term pain, long-term gain We think that the prices of most commodities will fall this year as global economic growth remains weak and investor risk aversion returns. While policy in China has become more accommodative, it is... 17th April 2019 · 1 min read
Commodities Outlook It will get worse, before it gets better Our forecast of slower global economic growth in 2019 poses a major headwind for commodity prices this year. What’s more, we are expecting further falls in global equity prices, which suggests that... 24th January 2019 · 1 min read
Commodities Outlook Hard to be positive on 2019 Our forecast of slower global growth next year points to weaker growth in commodities demand and lower prices. Of course, the prices of many non-oil commodities have already fallen sharply this year... 19th October 2018 · 1 min read
Commodities Outlook Trade woes to continue to weigh on prices Concerns about a possible downturn in demand are expected to remain a factor weighing on most commodity prices in the coming months. There are now clear signs that China’s economy has entered a softer... 30th July 2018 · 1 min read
Commodities Outlook Too soon to worry about supply Commodity prices have generally had a strong start to the year, boosted in particular by risks to supply. However, in many cases, supply has not been disrupted yet and the worst fears of supply... 20th April 2018 · 1 min read
Commodities Outlook Is the party over? Commodity prices started 2018 on a high, bolstered by optimism about global growth prospects and the ongoing depreciation of the US dollar. However, we think there are now clear signs that growth in... 9th February 2018 · 1 min read
Commodities Outlook Commodities to consolidate in 2018 Commodity prices have risen in the second half of 2017, boosted by strong Chinese demand and, in some cases, heightened geopolitical risk. Looking ahead, we expect prices to drift lower over the... 30th October 2017 · 1 min read
Commodities Outlook All good, for now Commodity prices have held up well over the last quarter, encouraged by positive economic data out of China, falling expectations of US interest rate rises and signs that crude oil stocks are finally... 24th July 2017 · 1 min read
Commodities Outlook Downhill from here The prices of many commodities have come off the boil recently on fading optimism about demand, rising geopolitical risk and the prospect of further US monetary tightening and dollar appreciation. Of... 26th April 2017 · 1 min read
Commodities Outlook Time to sound a note of caution Commodity prices continued their strong run in the early weeks of 2017, but we are concerned that investor optimism may fade in the months ahead. Prices have been buoyed by the pick-up in China’s... 10th February 2017 · 1 min read
Commodities Outlook Near-term risks largely on the downside The recent more positive tone in commodity markets has been helped by a number of tailwinds that may be about to fade, if not reverse. The boost to Chinese demand from policy stimulus now already... 18th October 2016 · 1 min read
Commodities Outlook Tougher few months in prospect Commodity prices have had a good few months, which is consistent with our relatively positive views on the medium-term outlook. The easing of fears about China’s economy has helped industrials, while... 26th July 2016 · 1 min read