Industrial Metals Update Metals prices to run out of steam, despite vaccine We think that the withdrawal of fiscal stimulus in China will offset any vaccine-induced boost to metals demand in 2021. And with supply bouncing back, we expect the prices of industrial metals to dip... 27th November 2020 · 3 mins read
Commodities Update Vaccine to push Brent price to $60 by end-2021 With widespread vaccination against COVID-19 now increasingly likely, we are revising up our oil demand forecasts for next year. And while OPEC+ will probably raise output a little faster in response... 27th November 2020 · 3 mins read
Energy Update Vaccine to push Brent price to $60 by end-2021 With widespread vaccination against COVID-19 now increasingly likely, we are revising up our oil demand forecasts for next year. And while OPEC+ will probably raise output a little faster in response... 27th November 2020 · 3 mins read
Industrial Metals Update New copper contract could shift pricing power to China The launch of a new copper futures contract in China should help shift pricing power in metals markets towards Asia, but the contract will not immediately become a new global benchmark. 25th November 2020 · 3 mins read
Precious Metals Update Platinum market to swing into a small surplus The platinum market should move into a small surplus in 2021 as demand falls and production in South Africa rebounds strongly in the wake of lighter virus-related restrictions. 20th November 2020 · 3 mins read
Commodities Update Mounting upside risks for cocoa prices The surge in the price of cocoa this week has come as a number of large risks hang over the supply outlook. But if these risks fail to materialise, we expect prices to fall back over the coming months... 20th November 2020 · 2 mins read
Energy Update Emerging Asia oil demand to lag behind China The recovery in oil demand across Emerging Asia has been highly uneven. Oil consumption in China is already back to pre-virus levels, and we think it will rise further in the year ahead. But... 19th November 2020 · 3 mins read
Industrial Metals Update China metals demand to taper off in 2021 Ongoing policy stimulus in China should continue to boost investment and industrial output in the coming months. However, we expect economic activity to gradually slow by end-2021 which is why we... 18th November 2020 · 3 mins read
Commodities Update Natural rubber price to hold up … for now Strong demand from China together with constrained production should support the price of natural rubber through the first half of next year. That said, we think that prices will start to fall back by... 12th November 2020 · 3 mins read
Precious Metals Update Gold prices to hold up despite possible vaccine While the positive developments in finding an effective vaccine against COVID-19 have boosted investor risk appetite, we still think that gold prices will remain high in the year ahead. 11th November 2020 · 2 mins read
Commodities Update An effective vaccine will be a game-changer Reports of an imminent, and highly effective, vaccine against COVID-19 point to generally stronger commodities demand. Once there is more certainty on the vaccine, we will review our price forecasts. 11th November 2020 · 2 mins read
Energy Update Vaccine would aid oil price recovery, but risks remain News of a vaccine sent oil prices surging on Monday on the back of expectations that this will enable demand to recover more quickly than previously thought. But higher prices also increase the... 11th November 2020 · 3 mins read
Commodities Update China’s commodity imports may be normalising China’s commodity import volumes remained high in October, although they eased back from September levels. We expect import volumes to remain solid in the coming months given the strength in economic... 9th November 2020 · 2 mins read
Energy Update Fresh lockdowns to weigh on European oil demand New national lockdowns in Europe have led us to revise down our oil demand forecasts for Q4. But the decline is likely to be much smaller than in Q2, not least because the economic hit will be less... 6th November 2020 · 2 mins read
Industrial Metals Update Political gridlock will rein in any Green New Deal The apparent failure of the Democratic Party to win a ‘clean sweep’ in this week’s US election means that many of the policy initiatives and spending proposals made by presidential hopeful, Joe Biden... 6th November 2020 · 3 mins read
Energy Update Political gridlock will rein in any Green New Deal The apparent failure of the Democratic Party to win a ‘clean sweep’ in this week’s US election means that many of the policy initiatives and spending proposals made by presidential hopeful, Joe Biden... 6th November 2020 · 3 mins read
