Industrial Metals Update China Industrial Metals Demand Monitor (Oct.) China’s industrial production held steady in October, but metals-intensive sectors continued to do well and there was a sharp rebound in construction starts. That said, our analysis suggests that the... 14th November 2016 · 1 min read
Precious Metals Update Four reasons a Trump presidency is still bullish for gold prices Markets appear to believe that a Trump victory will lead to major infrastructure spending and much more aggressive Fed tightening. As a result, gold prices have fallen. While some fiscal stimulus is... 11th November 2016 · 1 min read
Commodities Update Trump rally may be a triumph of hope over reality Commodity markets seem to believe US President-elect Trump will quickly deliver the one thing that he probably can’t – a surge in infrastructure spending – and are ignoring all the bad stuff that... 11th November 2016 · 1 min read
Energy Update What could President Trump mean for energy commodities? Commodity markets shrugged off the surprise victory for Donald Trump in the US Presidential election with the initial falls in oil prices already being reversed, helped by (probably misplaced)... 11th November 2016 · 1 min read
Industrial Metals Update A note of caution on the rally in copper prices Yesterday, the US dollar price of copper shrugged off the uncertainty created by the surprise victory for Donald Trump in the US Presidential election and rose by another 3%. But while the... 10th November 2016 · 1 min read
Commodities Update Trump win to boost gold prices further The surprise victory for Donald Trump in the US Presidential election is likely to lead to greater safe-haven demand over the next few months, with gold a clear winner. While heightened risk aversion... 9th November 2016 · 1 min read
Precious Metals Update Q3 2016 World Gold Council Demand Trends In its Q3 Global Demand Trends report, published today, the World Gold Council (WGC) described a pretty gloomy picture for gold demand. Investment was the only exception, as the economic and political... 8th November 2016 · 1 min read
Energy Update Coal prices are at the mercy of Chinese policymakers We think that the recent surge in coal prices is unsustainable and expect them to fall back as production rebounds, both inside and outside China, and demand remains weak. However, the extent of any... 8th November 2016 · 1 min read
Commodities Update China’s commodity imports dip in October China’s commodity import volumes declined last month, despite signs of a pick-up in activity data. We think this reflected disruptions caused by the week-long holiday, higher commodity prices and some... 8th November 2016 · 1 min read
Precious Metals Update Central banks continue to add gold to their reserves The latest data show that central banks increased their gold reserves in September. However, year-to-date purchases remain substantially lower than in 2015 as temporary factors, like Venezuela selling... 3rd November 2016 · 1 min read
Commodities Update What would a Trump win mean for commodities? The initial uncertainty that would follow the election of Donald Trump as US President would surely undermine the prices of assets that are perceived to be riskier, including industrial commodities as... 2nd November 2016 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Sep.) Although the broad measure of China’s industrial production eased back in September, metals-intensive sectors continued to do well. However, we would caution that the recent rallies in the prices of... 27th October 2016 · 1 min read
Energy Update Renewed drive for energy efficiency to cap oil demand and prices The fall in oil prices over the last two years may explain why the efficiency of oil use is growing more slowly than before 2014, especially in non-OECD economies. However, government regulation and a... 26th October 2016 · 1 min read
Industrial Metals Update Another weak month for China’s metals imports China’s metals imports remained weak in September as higher prices, supply constraints and stronger domestic output weighed on volumes. 25th October 2016 · 1 min read
Industrial Metals Update A bright future for cobalt prices We have been positive on the outlook for cobalt prices for some time now but, if anything, prospects are continuing to improve. Ongoing concerns over artisanal mining in the DRC and strong demand from... 25th October 2016 · 1 min read
Industrial Metals Update Fed drives a wedge between metals prices The performance of industrial and precious metals prices has diverged in the last month. Industrial metals have benefited from more positive economic data out of China while precious metals have... 20th October 2016 · 1 min read
