Commodities Update How to make sense of the industrial metals rally The mayhem in precious metals markets has captured the majority of headlines, but several industrial metals prices have increased by a lot too. We are sceptical that near-term fundamentals justify... 28th January 2026 · 3 mins read
Commodities Update Scrap recycling won’t ease metals supply woes yet The recycling of scrap metals and minerals has been put forward as a potential solution to high metals prices and the west’s push towards self-sufficiency, while also offering a promising step towards... 13th January 2026 · 3 mins read
Commodities Weekly Greenland’s mineral potential; metal price mayhem Despite Greenland’s undoubted resource potential, the significant technical challenges and high costs associated operating on the island will surely limit the potential for sizeable production... 9th January 2026 · 4 mins read
Commodities Chart Pack Commodities Chart Pack (Jan. 2026) Investors prepare for Venezuelan oil Although Venezuela is well known for having vast oil reserves, it is likely to require a number of years and significant investment to meaningfully increase the... 8th January 2026 · 1 min read
Commodities Update Copper: the euphoria will disappoint Although supply concerns are still present, the most recent surge in copper prices seems to be some spillover from exuberance in other corners of commodity markets. Looking ahead, we suspect that... 7th January 2026 · 4 mins read
Commodities Weekly Taking stock, and looking ahead As 2025 draws to a close, our view that energy prices would fall has proved pleasingly accurate, with the price of Brent crude currently exactly in line with our long-standing forecast of $60pb and... 19th December 2025 · 4 mins read
Africa Economics Weekly Lobito rail project, oil prices Angola secured additional financing from the US and other partners this week as it looks to press ahead with the Lobito rail project underlining the Trump administration’s transactional approach to... 19th December 2025 · 6 mins read
Commodities Update Key Commodity themes to watch in 2026 Our latest Outlook outlines our commodity price forecasts over the coming years. This Update further highlights the key themes and the factors that will shape commodity market developments in 2026. 18th December 2025 · 4 mins read
Commodities Outlook Record-high metals prices to fall back in 2026 The outlook for oil is dominated by an abundance of supply, which will continue to weigh on prices over our forecast horizon. Meanwhile, although structural demand factors will keep gold and silver... 15th December 2025 · 22 mins read
Commodities Weekly Copper hits all time high but we expect prices to ease lower The rally in copper prices to an all-time high has its roots in rising supply concerns, particularly following the announcement by a group of Chinese smelters that they intend to cut output by 10% in... 5th December 2025 · 4 mins read
Commodities Chart Pack Commodities Chart Pack (Dec. 2025) Copper’s supply crunch masks weakening demand The rally in copper, which has driven prices to all-time nominal highs, has its roots in supply concerns, which are likely to persist into 2026. But we... 5th December 2025 · 1 min read
Commodities Update New Simandou supply will sink iron ore prices Against the backdrop of weakening demand, the ramp-up in iron ore supply from the Simandou mine in Guinea is a key driver of our below-consensus view that iron ore prices will fall sharply over the... 2nd December 2025 · 4 mins read
Commodities Update 5 key questions about AI and demand for commodities This Update examines five key questions about AI-related demand for commodities, and the economic consequences of potential future disruptions to their supply. 19th November 2025 · 4 mins read
Latin America Economics Focus Can Brazil become a major rare earths player? Brazil has the second largest rare earth deposits on the planet but negligible production. Interest in rare earth mining in Brazil has surged in the past couple of years, although it will take time... 10th November 2025 · 14 mins read
Commodities Chart Pack Commodities Chart Pack (Nov. 2025) Plenty of oil on water; revising down our gold forecast While the fallout from US sanctions on Russian oil majors has yet to manifest in the data, Russian seaborne oil exports are strong, and a wider... 5th November 2025 · 1 min read
Commodities Weekly A false dawn for copper? Soybeans deal not a gamechanger The positive mood music surrounding cooling US-China trade tensions has supported a handful of commodity prices, including copper and soybeans. Although copper prices reached an all-time high this... 31st October 2025 · 3 mins read
