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
Latin America Data Response Chile Retail Sales, Ind. Prod. & Copper Prod. (Jul.) July’s activity data were slightly better than the dire outturns in May and June, but,on balance, they still suggest the economy remained weak at the start of Q3. 30th August 2016 · 1 min read
Commodities Weekly Focus shifts to US payrolls Hawkish comments by some Fed officials and a slight strengthening of the US dollar ahead of Janet Yellen’s speech at Jackson Hole on Friday weighed on the prices of most commodities over the past week... 26th August 2016 · 1 min read
Energy Watch What does the rest of the year hold in store for oil prices? Oil prices are now back at around $50 per barrel (for Brent) but they have been volatile over the last few months. Speculation about a deal to freeze output, high stocks and outages in production have... 25th August 2016 · 1 min read
Metals Data Response China and India’s gold imports (Jul.) China’s gold imports resumed their upward trend last month. In contrast, India’s demand remained subdued and this weakness probably has persisted through August. That said, we expect demand from India... 25th 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
Energy Data Response US Weekly Petroleum Status Report (24th Aug. 16) US crude oil and gasoline inventories rose last week, despite demand remaining relatively strong and production falling. 24th August 2016 · 1 min read
Asia Chart Pack More good news for Indonesia, but problems lie ahead The past month has given investors more reasons to be optimistic on the outlook for Indonesia’s economy. The first piece of good news came in late July when it was announced that the highly-respected... 24th 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
Metals Data Response Global Steel Production (Jul.) World Steel Association (WSA) data, released this afternoon, show a 1.4% y/y rise in global steel output in July as higher Asian output more than offset lower production at EU and US steelmakers. That... 22nd August 2016 · 1 min read
Metals Data Response Global Aluminium Production (Jul.) According to the International Aluminium Institute, global primary aluminium output declined by 0.5% y/y last month. However, Chinese production may have been disrupted by flooding, while output... 22nd August 2016 · 1 min read
Africa Economic Outlook Gradual acceleration, but recovery will be slow After two years of progressively slower growth, most African economies will strengthen in 2017. This recovery will be driven by rising commodity prices, which should ease strains in the balance of... 22nd August 2016 · 1 min read
Commodities Weekly Weaker dollar supports commodity prices With a few exceptions, commodity prices have trended higher over the past week. A weaker dollar on the back of the July FOMC minutes showing that Fed officials were divided over the timing of the next... 19th 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
