Commodities Overview

Commodities Weekly Wrap

17 May, 2019

Geopolitics will be a factor in OPEC’s output policy

Softer April activity and spending data out of China and negative sentiment surrounding the impasse in US-China trade talks weighed on the prices of many metals this week. We had always suspected that the stronger Chinese data in March had been driven by seasonal factors and maintain that slower economic growth in China will be one of the key factors pushing the prices of most industrial metals lower this year.

Turning to next week, there may be some greater clarity on the direction of OPEC+ oil

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