Commodities Update China's equity gyrations not such a big deal for commodities The slump in equity prices in China has damaged confidence in global commodity markets, including oil and especially industrial metals. However, we think that the current negativity is overdone. While... 7th July 2015 · 1 min read
Industrial Metals Update Stocks tread water in June Exchange stocks of some base metals are at very low levels and could be a factor boosting prices later in the year. However, stocks of copper and aluminium, in particular, remain high and will act as... 7th July 2015 · 1 min read
Metals Chart Pack Concerns about global growth weigh on prices The S&P GSCI industrial metals index fell for the second consecutive month in June. Persistently subdued Chinese economic data and the risk of a messy Greek default and exit from the euro-zone... 3rd July 2015 · 1 min read
Commodities Chart Pack Grains aside, commodities remain in the doldrums The prices of US grains and soybeans jumped in June on weather-related supply fears, but most other commodities are still becalmed – at best. Industrial metals continued to struggle, despite... 1st July 2015 · 1 min read
Industrial Metals Update The only way is up for nickel prices The price of nickel has fallen by nearly 10% from last Friday, despite early signs of a pick-up in globalnickel demand. Given that we expect supply to become more constrained in the second half of... 30th June 2015 · 1 min read
Latin America Data Response Chile Retail Sales, Ind. Prod. & Copper Prod. (May) Activity data from Chile released today were a mixed bag – while retail spendingremained buoyant, industrial output fell sharply. All told, the recent run of softerdata means that our GDP Tracker is... 30th June 2015 · 1 min read
Industrial Metals Update China still controls its REE exports, despite “looser” regime Despite “loosening” its rare earths (REE) export regime, China will continue to control global supply. As such, our view remains that REE prices are unlikely to fall much further. 30th June 2015 · 1 min read
Commodities Weekly Adverse weather boosts agriculturals The prices of many agricultural commodities rose this week as adverse weather, notably in the US but also in Europe, clouded prospects for forthcoming harvests. Meanwhile, the prices of industrial... 26th June 2015 · 1 min read
Metals Watch Waiting for zinc ... Tightening supply, as a number of large mines close, is often cited as a key reason why investors and analysts have been positive on the outlook for zinc prices. However, the expected market tightness... 26th June 2015 · 1 min read
Metals Data Response Global Aluminium Production (May. 15) According to the International Aluminium Institute, global aluminium production grew by nearly 12% y/y in May, led by a marked increase in China’s output. Excluding China, global production rose by a... 22nd June 2015 · 1 min read
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 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
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 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
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
