Commodities Update The dollar is not the only driver of metals’ prices Unusually, both base and precious metals prices have fallen this week. The common factor appears tobe the strength of the dollar and the prospect of imminent US monetary tightening. In our view, this... 12th September 2014 · 1 min read
Commodities Update Will global oil prices remain below $100? Some of the factors that have dragged the price of Brent crude below $100 per barrel may prove temporary, notably the weakness of European demand. Saudi Arabia might also cut output again in an... 11th September 2014 · 1 min read
Commodities Update How far can iron ore prices fall? Sluggish Chinese demand amid a ramp up in supply, notably from Australia, has sent iron ore pricesinto freefall. Higher-cost producers will eventually be forced out of the market and prices will at... 11th September 2014 · 1 min read
Commodities Update Coal prices to fall further as environmental regulations bite The recent sharp falls in imports of coal by China and consumption of coal in the US are just the latest evidence that environmental measures enacted over the last year have begun to reduce demand in... 9th September 2014 · 1 min read
Commodities Update China’s trade data confirm weaker commodity demand China’s commodity import demand weakened in August as the slowdown in the property sector continued to weigh on industrial metals consumption. While crude oil imports increased, this was matched by... 8th September 2014 · 1 min read
Commodities Update How vulnerable are European gas supplies to the Ukraine crisis? Today’s announcement that both sides have agreed on a ceasefire should help to ease tensions inUkraine and move the government and rebels towards a sustainable peace deal. Admittedly, we havealready... 5th September 2014 · 1 min read
Commodities Update A renewed surge in nickel prices likely in 2015 Nickel prices have risen sharply this year on supply concerns. However, for now, stocks still seemample. This is set to change in 2015, when the full impact of Indonesia’s ore export ban will be felt... 3rd September 2014 · 1 min read
Commodities Update Thai rice prices likely to come off the boil The rebound in the price of Thai rice over the last few months has been driven by the suspension ofgovernment sales and reinforced by the recent stock write-offs. However, Thailand’s rice stocks... 2nd September 2014 · 1 min read
Commodities Update Gold price unlikely to rally on seasonal factors alone This is the time of year when the gold price is traditionally assumed to be boosted by a seasonal pick-upin demand. Some months have tended to see larger changes in the price of gold than others, but... 28th August 2014 · 1 min read
Commodities Update Will the gold price continue to stagnate? The current strength of equity prices has left gold in the shade and we are lowering our price forecastsfor the precious metal accordingly. But we still expect the positives to outweigh the negatives... 27th August 2014 · 1 min read
Commodities Update Demand worries continue to cloud near-term outlook The flash PMIs for China and the euro-zone in August are perhaps not as worrying as some of the headlines might suggest, but they do underline the downside risks to commodity demand from Asia and... 21st August 2014 · 1 min read
Commodities Update Have palladium prices further to climb? The recent rise in palladium prices can be attributed to actual and potential disruptions to supply andto solid demand growth. But the scale of the price increase is looking increasingly hard to... 20th August 2014 · 1 min read
Commodities Update US shale boom to continue to lift oil production Improvements in drilling technology and processes have continued to boost US shale oil output, evenwhen the number of rigs actually drilling has remained flat. These improvements should reduce... 19th August 2014 · 1 min read
Commodities Update Little to support copper prices in rest of 2014 Copper prices have slipped in the last week and we expect a more concerted move down as supply bottlenecks ease at a time of subdued demand growth. However, prices should stabilise and start to move... 19th August 2014 · 1 min read
Commodities Update What’s behind the decline in oil prices? Reports that Ukrainian forces have attacked a military convoy from Russia have pushed up oil prices today, but the bigger picture is that they remain much lower than only a few weeks ago. We suspect... 15th August 2014 · 1 min read
Commodities Update Can China’s steel producers export their way out of trouble? Despite weak domestic demand, China’s steel industry continues to raise output. Exports are providing an outlet for some of the oversupply, but this is only a partial solution. Prices will remain... 14th August 2014 · 1 min read
