Metals Data Response Global Steel Production (May. 15) World Steel Association (WSA) data for May show a 2.1% y/y decline in global steel output, with falls in most of the largest producers. However, some recovery can be expected in coming months, notably... 22nd June 2015 · 1 min read
Commodities Weekly Industrial metals continue to struggle The escalating crisis surrounding Greece’s negotiations with its creditors and its potentially negative implications for the euro-zone economy weighed on investor sentiment this week. Industrial... 19th June 2015 · 1 min read
Commodities Update What would “Grexit” mean for commodities? A Greek default has looked increasingly likely for some time and, in isolation, may have few implications for global commodity markets. However, the risks of contagion to the rest of the euro-zone... 19th June 2015 · 1 min read
Commodities Update Weather conditions take charge of crop prices Agricultural commodity prices have had mixed fortunes since mid-May, with roughly half seeing rises and half seeing falls. While concerns about supply constraints have helped support cocoa and robusta... 19th June 2015 · 1 min read
Commodities Update Why commodity investors shouldn’t fear the Fed The US central bank is edging towards a first interest rate hike, most likely in September. Thereafter, we expect rates to rise faster than the markets (and Fed officials themselves) generally... 18th June 2015 · 1 min read
Energy Data Response US Weekly Petroleum Status Report After a sharp drop last week, the pace of the fall in crude oil stocks slowed this week. At the same time, there was a modest uptick in gasoline stocks, which are now in the upper half of their long... 17th June 2015 · 1 min read
Commodities Update Commodity markets come off the boil again After a strong performance between mid-April and mid-May, all four commodity sub-indices fell over the past month. The S&P GSCI industrial metals index fell particularly sharply, largely due to... 17th June 2015 · 1 min read
Precious Metals Update What does China’s rebalancing mean for PGMs? The potential impact on precious metals demand of China’s transition to a consumption-led growth model could be substantial. We believe that palladium and platinum in particular will benefit due to... 17th June 2015 · 1 min read
Industrial Metals Update Support for iron ore prices to wane Temporary supply bottlenecks and falling stocks at Chinese ports have prompted a rally in iron ore prices since early-April. However, supply is expected to pick up strongly, at a time of only subdued... 16th June 2015 · 1 min read
Commodities Update Deterioration in Thai stocks to boost rice prices The disposal of Thailand’s remaining high-quality rice stocks should keep prices under pressure in the near-term. However, with the world market expected to tighten in 2015/16, prices should start to... 16th June 2015 · 1 min read
Industrial Metals Update Investors turn even more negative on PMs Over the past month, precious metal (PM) prices have dropped sharply. Gold has fared better than its peers, as lingering risks in Europe have cushioned the price from further losses. Both the... 16th June 2015 · 1 min read
Commodities Focus An introduction to Rare Earth Elements Rare Earth Elements (REEs) are highly sought-after chemical elements which are essential components of a wide range of products, ranging from smart phones to wind turbines and cancer-treating drugs... 15th June 2015 · 1 min read
Middle East & North Africa Economic Outlook Gulf countries weathering the storm, but growth to weaken The Gulf economies have weathered the storm created by low oil prices relatively well this year, with foreign exchange reserves having been drawn down to sustain spending. Large savings mean that this... 15th June 2015 · 1 min read
Commodities Weekly Positive case for gold remains intact Most commodity prices have moved in narrow ranges in the past week. US natural gas prices continued their see-saw pattern, buffeted by weather and other seasonal factors. But other markets were... 12th June 2015 · 1 min read
Global Inflation Watch Oil price effect to unwind, but deflation risks persist Headline inflation looks certain to rebound sharply in most advanced economies during the coming months as the impact of last year’s oil price slump unwinds. Looking further ahead, faster wage growth... 12th June 2015 · 1 min read
Industrial Metals Update The impact of China’s “new normal” on metals demand The sources of industrial metals demand will alter as China shifts away from investment-led growth, but demand should not collapse. Indeed, demand for metals used in consumer goods could benefit. 12th June 2015 · 1 min read
