Commodities Overview

Commodities Weekly Wrap

8 March, 2019

All the signs point to weaker demand

After a relatively quiet week, the prices of most commodities took a tumble on Friday afternoon following the release of weak US February employment data. A rise of just 20,000 in non-farm payrolls, combined with poor Chinese February trade data and a dovish ECB statement yesterday, sparked renewed concerns about global economic activity. Indeed, our forecast of slower global GDP growth is a key factor underpinning our bearish commodity price projections.

What’s more, China’s leadership announced

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