Industrial Metals Update China Industrial Metals Demand Monitor (Aug.) Metals prices received a boost today as August activity data out of China surprised on the upside. There is now clear evidence that the monetary and fiscal stimulus enacted earlier in the year is... 13th September 2016 · 1 min read
Precious Metals Update Why are central banks giving a cold shoulder to gold in 2016? Since 2010 central banks have become major buyers of gold, accounting on average for about 10% of total gold demand over the past five years. However, demand from the official sector has been... 12th September 2016 · 1 min read
Commodities Update China’s commodity imports bounced back in August After a slowdown in July, growth in China’s commodity import volumes rebounded in August. This was perhaps to be expected as July activity indicators were encouraging and the unofficial manufacturing... 8th September 2016 · 1 min read
Precious Metals Update Any weakness in silver prices to be short-lived The silver price has surged this year, together with gold, bolstered by investor demand especially in the wake of the UK Brexit vote. Although prices might give up some of their recent gains when Fed... 7th September 2016 · 1 min read
Energy Update What to make of Russia and Saudi Arabia’s statement on oil The statement by Russia and Saudi Arabia earlier today that the two countries have agreed to work together to try to stabilise the oil market did very little to justify the almost 6% surge in oil... 5th September 2016 · 1 min read
Energy Update Taking stock of the EIA’s oil inventories report The gyrations in oil prices in response to the EIA’s weekly petroleum status report are rarely justified, since the biggest determinant of weekly changes in US stocks is variations in net crude... 2nd September 2016 · 1 min read
Industrial Metals Update Investor sentiment sours The prices of most metals fell last month, undermined by some strengthening of the US dollar as a result of renewed expectations that the Fed will raise interest rates sooner rather than later. The... 1st September 2016 · 1 min read
Industrial Metals Update Subdued demand bolsters stocks The big news in the last month has been a sharp move up in exchange stocks of copper and a renewed slump in tin inventories. However, the bigger picture is that exchange stocks of metals have not... 31st August 2016 · 1 min read
Industrial Metals Update Higher zinc prices could prove self-defeating The zinc market has tightened sharply this year mostly owing to mine closures and production cutbacks. While we expect the market to move deeper into deficit next year, we think that there is an... 30th August 2016 · 1 min read
Industrial Metals Update EU trade deal unlikely to revive Indonesia’s tin exports Some have argued that a new trade deal between the EU and Indonesia may arrest the decline in the latter’s exports of tin. However, structural issues constraining tin exports mean that it is unlikely... 25th August 2016 · 1 min read
Industrial Metals Update China’s metals imports dip in July China’s metals imports fell last month. This was not totally unexpected as the strength of imports earlier in the year had seemed at odds with relatively subdued underlying demand. Higher prices for... 24th August 2016 · 1 min read
Commodities Update Investors turn positive on oil The recent rally in the oil price has been fuelled by speculation that output will be curtailed and, as such, may lose steam if no deal is forthcoming. Meanwhile, the combination of a somewhat weaker... 23rd August 2016 · 1 min read
Industrial Metals Update China Industrial Metals Output Monitor (Jun./Jul.) Detailed Chinese industrial production figures for July show how mine supply can offset price movements in determining refined production. The ability of smelters to respond to the rallies in zinc and... 19th August 2016 · 1 min read
Energy Update Oil price rally based on shaky foundations The recent rally in oil prices has been primarily driven by speculation about a possible deal between OPEC and major non-OPEC producers to freeze production. As a result, we think that prices will... 19th August 2016 · 1 min read
Energy Update US gas prices deflate on milder weather outlook US natural gas prices have fallen back in recent weeks, largely as a result of forecasts of milder weather. While we think that production should hold up in the second half of 2016, we are still... 19th August 2016 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Jul.) This is a new monthly publication in which we assess the strength of demand in the world’s largest consumer of metals. We are also introducing our Capital Economics Steel Demand Proxy, to help inform... 17th August 2016 · 1 min read
