Energy Update What next for oil prices? The easing of sanctions on Iran will add to the supply of oil on world markets, but it should not be the game-changer for prices that some imagine. Instead, we think the more important factors will be... 11th September 2015 · 1 min read
Africa Economics Update Zambia: Problems under the hood Planned mine closures will deal a heavy blow to Zambia’s copper-dependent economy. But the country’s economic problems run deeper than the current fall in copper prices. We expect that the country... 11th September 2015 · 1 min read
Industrial Metals Update Restocking to galvanise US steel prices US steel prices have fallen sharply this year, despite signs of robust physical demand. Given that imports have also dropped, we expect that stocks have been drawn down. Resilient demand coupled with... 11th September 2015 · 1 min read
Commodities Update Risks to the new cocoa harvest could keep prices elevated A lack of rainfall in the key cocoa growing countries in West Africa has increased the risk of a poor harvest for the 2015/16 year, adding upside risks to the outlook for the price of cocoa. 11th September 2015 · 1 min read
Emerging Markets Trade Monitor Fresh commodity price weakness weighs on EM exports EM exports fell sharply in July on the back of the renewed drop in global commodity prices. And the early data suggest that things are unlikely to have improved last month either. 11th September 2015 · 1 min read
Metals Watch Will the supply response be sufficient to lift prices? A number of mining companies have recently announced plans to cut output or close mines and smelters in response to low prices. These latest announcements come on top of earlier cost-cutting exercises... 10th September 2015 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude oil stocks rose again last week due to a combination of lower refinery inputs and still-high import volumes. 10th September 2015 · 1 min read
Metals Data Response South Africa’s Mine Production (Jul.) South Africa PGM production fell in July below the levels observed in 2012 and 2013 at this time of the year. Low prices are threatening miners’ profitability. As such, we expect production growth to... 10th September 2015 · 1 min read
Commodities Update Malaysia Monthly Palm Oil Data (Aug.) Data released earlier today by Malaysia’s Palm Oil Board show that crude palm oil production in August was the highest on record. Stocks also rose sharply again. 10th September 2015 · 1 min read
Commodities Update Brazil Sugar Production (16th Aug. – 1st Sep.) Data released today by Brazil’s Sugarcane Industry Association, UNICA, revealed that the amount of sugar cane harvested in Brazil’s main sugar producing South-Central region in the second half of... 9th September 2015 · 1 min read
Global Economics Update Will commodity exporters continue to weigh on global growth? Fears about the health of the world economy have centred on China, but the bulk of the slowdown over the past year has actually been due to weaker growth in commodity exporters. The outlook varies by... 9th September 2015 · 1 min read
Metals Data Response World Gold Official Reserves (Jul.) Buying by global central banks picked up pace in July, with China and Russia once again particularly active. Going forward, we expect further official purchases to be one of several factors supporting... 9th September 2015 · 1 min read
Global Markets Update Which G-10 commodity currencies remain vulnerable? Four of the worst-performing G-10 currencies since mid-2014 have been those of countries that export large amounts of commodities, namely the dollars of Canada, Australia and New Zealand, and the... 8th September 2015 · 1 min read
Precious Metals Update Q2 2015 Platinum Quarterly In its latest Platinum Quarterly report, published today, the World Platinum Investment Council (WPIC) depicted a challenging time for platinum in Q2. With the exception of investment demand... 8th September 2015 · 1 min read
Commodities Update China’s commodity imports down but not out China’s trade data took another turn for the worse in August but, in common with other recent economic indicators, the weakness was partly due to temporary factors and the numbers have yet to reflect... 8th September 2015 · 1 min read
Middle East & North Africa Economics Update How big a deal is the Zohr gas field for Egypt? The recent announcement by Italian energy group Eni that it has discovered a “super giant” gas field off the coast of Egypt has been billed as a game changer for the country. However, as we explain in... 8th September 2015 · 1 min read
