Energy Update Strong export demand to support US natural gas prices A surge in demand for US natural gas from Mexico and Canada as well as bourgeoning shipments of LNG to Europe and Asia should give a boost to natural gas prices over the next year. 27th July 2017 · 1 min read
Precious Metals Update China and India’s gold imports (Jun.) The latest trade data for India and China show that gold imports rose in June. Nonetheless, we think that demand will lose momentum in the second half of the year as slower growth in China and a new... 27th July 2017 · 1 min read
Industrial Metals Update China’s metals imports point to strong demand so far in 2017 China’s detailed trade data, released yesterday, revealed that metals demand was strong in the first six months of the year, which helps to explain the recent price rallies. That said, we expect... 25th July 2017 · 1 min read
Energy Update Four key risks facing the oil market The oil market’s attention is firmly on rising production in the US and the outlook for stocks there. However, there are a number of risks elsewhere which are potentially being overlooked and which... 20th July 2017 · 1 min read
Commodities Update Commodities back in favour Investors have turned more positive on the outlook for commodity prices in the last month, reflected in a general rise in net-long futures positions. Sentiment has improved on the back of strong... 19th July 2017 · 1 min read
Energy Update Government intervention in the coal market could backfire Coal prices have been boosted recently by a series of temporary factors. However, supply is growing quickly, which is raising the risk of a sharp drop in prices once demand drops back. 18th July 2017 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Jun.) There was across-the-board strength in China’s June activity and investment data, which helps to explain the recent resilience of industrial metals prices. However, we still expect ongoing policy... 18th July 2017 · 1 min read
Commodities Update Persistent strength in China’s commodity imports China’s commodity import demand has generally been strong so far in 2017. However, stocks of many industrial commodities are high suggesting that underlying demand may be somewhat weaker. Indeed, we... 13th July 2017 · 1 min read
Industrial Metals Update It is hard to be positive on nickel With the fading prospect of mine closures in the Philippines, the outlook for nickel supply is improving. At the same time, demand is expected to weaken this year. However, we think that the... 12th July 2017 · 1 min read
Industrial Metals Update How tight is the cobalt market really? New supply prospects in the Democratic Republic of Congo (DRC) could ease the current tightness in the cobalt market. Admittedly, the country’s mine practices are controversial and there is a risk... 6th July 2017 · 1 min read
Commodities Update Some strength at end-Q2 After diverging in May, the official and unofficial June manufacturing PMIs for China told a similar story of somewhat stronger activity in the final month of the quarter. However, the bigger picture... 3rd July 2017 · 1 min read
Precious Metals Update How will South Africa’s mining charter affect PGM output? South Africa’s controversial new mining charter will probably exacerbate the decline in the PGM sector. Higher costs, in tandem with lower foreign investment, could weigh on PGM production going... 3rd July 2017 · 1 min read
Energy Update Will US shale continue to flood the oil market? US shale production growth is likely to slow sharply towards the end of the year as the recent low prices cap the number of drilling rigs. What’s more, fewer efficiency gains will start to weigh on... 29th June 2017 · 1 min read
Industrial Metals Update China Industrial Metals Output Monitor (May) After a strong start to 2017, growth in China’s refinery output appears to be slowing. This corroborates broader activity and investment data, which have lost some momentum going into the second... 28th June 2017 · 1 min read
Commodities Update Low volatility here to stay Volatility in commodity markets is likely to remain lower than average for the next year. The main exception could be the oil market where any change in tack by OPEC would cause sharp moves in prices. 27th June 2017 · 1 min read
Energy Update How low will oil prices go this time? Fears about unrelenting growth in US oil production have pulled down oil prices again, despite stocks beginning to fall. However, faster demand growth combined with OPEC’s production cuts should be... 22nd June 2017 · 1 min read
