Energy Data Response US Weekly Petroleum Status Report US oil stocks have now fallen for the third consecutive week as demand remains very strong and oil production shows signs of falling back a little. 12th August 2015 · 1 min read
Commodities Update What China’s ‘‘devaluation’’ means for commodity prices All else equal, a weaker renminbi means that US dollar-denominated commodities will be more expensive in local currency terms for Chinese buyers. However, with the renminbi unlikely to go into... 12th August 2015 · 1 min read
OPEC Watch OPEC keeps the pumps on full blast Last month’s increase in supply from OPEC adds to the glut of oil already in the market and underlines the cartel’s commitment not to cut output just to support prices in the short term. 11th August 2015 · 1 min read
Commodities Update Further fall in Brazilian real could add to sugar’s woes Continued weakness in the Brazilian currency could undermine the price of sugar further. However, we think greater ethanol production and consumption in Brazil will provide some support to the price... 11th August 2015 · 1 min read
Energy Update Additional cuts in investment to help oil prices rise next year The renewed decline in oil prices has prompted another round of investment and job cuts in the sector. Slower growth in non-OPEC output should therefore support a partial recovery in prices over the... 11th August 2015 · 1 min read
Metals Data Response US silver imports and exports (May) US silver imports fell in May after a strong April, but exports of semi-manufactured silver surged, suggesting recovering industrial demand from the rest of the world. Meanwhile, retail appetite for... 11th August 2015 · 1 min read
China Economics Update Imports hint at policy-driven pick-up in demand Yesterday's inflation data suggest domestic price pressures remained broadly stablelast month. Meanwhile, although exports were subdued, policy easing appears to have supported commodity import... 10th August 2015 · 1 min read
Industrial Metals Update Investor sentiment shows tentative signs of improvement The prices of precious metals (PMs) have fallen sharply since mid-July as sentiment towards commodities in general plummeted. A further slump in Chinese equities and unexpectedly weak Chinese PMI... 10th August 2015 · 1 min read
Global Economics Update Renewed slide in oil prices not (yet) a game-changer The declines in the cost of crude oil since May have revived concerns about global growth and deflation risks. However, the falls mainly reflect positive supply-side developments and are also small... 10th August 2015 · 1 min read
Commodities Update Malaysia Monthly Palm Oil Data (Jul.) Data released earlier today by Malaysia’s Palm Oil Board show that crude palm oil production in July reached its highest monthly level since October last year. Stocks also rose sharply, adding to... 10th August 2015 · 1 min read
Commodities Update China’s commodity import volumes hold up well China’s commodity import volumes were generally strong in July, for the second consecutive month. Although low prices probably encouraged buying, it is also likely that government stimulus is starting... 10th August 2015 · 1 min read
Emerging Markets Economics Update Winners and losers from the latest commodity collapse Of the major EMs, the biggest losers from the most recent fall in commodity prices have been Russia, Nigeria and Colombia, while the biggest winners have been Korea, India and Thailand. A similar... 7th August 2015 · 1 min read
Commodities Update Corn prices to fall, despite lower EU harvest Despite a large downgrade to the outlook for the EU’s 2015 corn harvest, global supplies and stocks are likely to remain high. As such, we think the price of corn will fall further this year. 7th August 2015 · 1 min read
Energy Chart Pack Oil slides back down July was a tough month for energy commodities with oil and coal prices slumping again as worries about demand, prompted by the drop in the Chinese equity market, and signs of improving supply weighed... 7th August 2015 · 1 min read
Metals Watch Solid fundamentals should support lead prices By setting a lower mid-point for the renminbi’s trading band the People’s Bank has sparked speculation that it is embarking on a competitive devaluation of the currency in order to shore up exports... 7th August 2015 · 1 min read
Precious Metals Update Currency depreciation won’t help producers much longer Depreciating producer currencies have played a major role in cushioning mining companies’ margins in recent years. However, with the prices of most precious metals below production costs even in local... 7th August 2015 · 1 min read
