Industrial Metals Update The nickel price rally could lose steam The price of nickel has surged in recent weeks, primarily on concerns about lower supply due to greater regulation of ore mining in the Philippines. However, stocks remain high and demand is subdued... 18th July 2016 · 1 min read
Energy Update Fewer disruptions to oil supplies should limit price gains The return of production from Canada and Nigeria along with a potential increase in output from Libya over the next few months should put some downward pressure on prices. 13th July 2016 · 1 min read
Commodities Update Another strong month for China’s commodity imports China’s commodity import volumes continued to grow strongly in June, despite relatively subdued activity indicators. In some cases, arbitrage opportunities are encouraging Chinese buying but it also... 13th July 2016 · 1 min read
Energy Update How could Brexit affect North Sea oil production? The slump in oil prices since 2014 poses a bigger threat to North Sea output than the UK’s vote to leave the EU (‘Brexit’). However, heightened uncertainty, potential tax changes and the possibility... 8th July 2016 · 1 min read
Precious Metals Update Weakness in official sector’s gold buying to be short-lived The latest data suggest that gold demand from the official sector remained subdued in May. However, we expect this to be only temporary as central banks continue to diversify away from the US dollar... 7th July 2016 · 1 min read
Precious Metals Update Will ‘Brexit’ drive a new bull market in gold? The UK’s decision to vote in favour of leaving the European Union in a nationwide referendum on 23 rd June – or ‘Brexit’ – has already boosted the prices of precious metals. The prospects for both... 6th July 2016 · 1 min read
Energy Update Coal supply to fall further this year, but so should demand The rally in coal prices over the past month has boosted investor sentiment. Admittedly, production in China, the US and Indonesia has finally started to fall. But prices have now risen to levels... 5th July 2016 · 1 min read
Industrial Metals Update Aluminium demand is stronger than often thought We are now even more positive on aluminium demand in the near-term, based partly on our new Capital Economics Demand Proxy, but believe that supply growth will put a lid on prices by end-year. 4th July 2016 · 1 min read
Precious Metals Update Will silver continue to outshine gold? The price of gold has predictably done well in the wake of the UK’s surprise vote to leave the EU (‘Brexit’). But the real star of the show has been silver, whose price has already jumped by 20% in US... 1st July 2016 · 1 min read
Commodities Update China concerns could soon replace Brexit fears With fears over the impact of the UK’s potential exit from the EU having faded, the focus of commodity markets may soon return to China’s economy and currency. The third successive monthly fall in... 1st July 2016 · 1 min read
Industrial Metals Update A more subdued outlook for China’s copper demand Following downward revisions to our projections for China’s growth, we are also nudging down our forecast for the price of copper. Despite sizeable policy stimulus in China, it has become apparent... 29th June 2016 · 1 min read
Commodities Update UK vote for ‘Brexit’ not a game-changer for commodities The UK’s vote to leave the EU has predictably undermined the prices of industrial commodities, including oil (which initially fell by around 5% in US dollar terms) and copper (-3%), while boosting... 24th June 2016 · 1 min read
Industrial Metals Update China’s metals imports treading water China’s metals import demand in May remained robust but down from the highs reached in March. In some cases, lower supply and higher prices are acting as constraints on import volumes. 21st June 2016 · 1 min read
Energy Update Increased US drilling activity to limit upside for oil prices Early signs that rising crude prices have induced oil companies to bring drilling rigs back online suggest that US output could rise sooner than previously thought, especially in light of the... 20th June 2016 · 1 min read
Precious Metals Update Brighter times ahead for India’s gold demand India’s gold demand has undeniably been weak so far in 2016, but we expect buying to pick up later in the year due to the release of pent-up demand following a jewellers’ strike in Q2 and to the... 17th June 2016 · 1 min read
Energy Update Are renewables jumping the queue? A surge in investment in renewable energy capacity over the last few years has led to these alternative power sources taking market share from fossil fuels. This trend looks set to continue over the... 17th June 2016 · 1 min read
