Metals Data Response South Africa’s Mine Production (Nov.) South Africa’s overall mine production remained subdued in November, with all metals seeing a drop in output. The PGM market appears finally to be tightening but we think that it will take some time... 17th January 2017 · 1 min read
India Economics Update Trade deficit to remain in check India’s monthly trade deficit narrowed significantly in December, and a number of factors should ensure that it remains in check over the coming months. This should keep India’s financial markets... 16th January 2017 · 1 min read
Commodities Weekly Volatility returns to commodity markets After a quiet start to 2016, commodity markets have sprung into life. Late in the week, comments by OPEC members that they would deepen output cuts and possibly extend them until the end of 2017... 13th January 2017 · 1 min read
Precious Metals Update Central banks’ gold demand could remain subdued in 2017 The latest data show that central banks’ holdings of gold were broadly unchanged in November. However, year-to-date purchases remain substantially lower than in 2015 and this weakness could persist... 12th January 2017 · 1 min read
Commodities Weekly Commodities looking for direction It has been a quiet start to 2017 in commodity markets. Investors appear to be taking a wait-and-see approach, ahead of the inauguration of President-elect Trump and more clarity on his policy... 6th January 2017 · 1 min read
Metals Chart Pack Metals prices come off the boil in December The prices of most metals rose last year, but industrial metals substantially outperformed precious. While we had always been positive on the outlook for metals in 2016, even we were surprised by the... 5th January 2017 · 1 min read
Commodities Chart Pack Oil price rally fails to lift wider sentiment The prices of many commodities slipped back in December, despite the rise in the oil price and encouraging economic data out of China. While the falls in industrial metals may have been the result of... 3rd January 2017 · 1 min read
Commodities Weekly Commodities end 2016 on a strong note Prices have drifted a bit this week, ahead of the Christmas and New Year holiday period. However, the bigger picture is that the prices of most industrial commodities are ending the year significantly... 22nd December 2016 · 1 min read
Commodities Update Key commodity calls for 2017 Commodity prices face a number of headwinds moving into next year, including rising US interest rates, further US dollar strength and less stimulus spending by the Chinese authorities. However, we... 21st December 2016 · 1 min read
India Economics Update Markets take Fed rate hike in their stride Financial markets in India have taken last week’s decision by the US Fed to hike interest rates for the first time in a year in their stride. A bigger test might come if the Fed now tightens more... 20th December 2016 · 1 min read
Commodities Weekly Commodities largely shrug off Fed rate hike The response of commodity prices to Wednesday’s US rate hike was relatively muted as the move had been widely anticipated. Predictably, precious metals, notably gold, fell on the news but further... 16th December 2016 · 1 min read
Commodities Update Oil prices jump on the prospect of output cuts The price of oil rose sharply as oil producers surpassed market expectations by agreeing to cut supply by 1.8m barrels a day from January. Meanwhile, industrial metals prices rose further as investors... 13th December 2016 · 1 min read
Commodities Weekly Focus on the Fed statement and Trump’s reaction The prices of most industrial metals surged this week, largely due to increased investor interest. Strong China’s imports in November and the prospect of fiscal stimulus in the US further buoyed... 9th December 2016 · 1 min read
Precious Metals Update Limited upside for platinum prices in 2017 Platinum has substantially underperformed its sister metals – palladium and rhodium – this year as its higher correlation with gold has seen its price fall sharply since the US presidential election... 9th December 2016 · 1 min read
Metals Chart Pack Investor enthusiasm buoying the prices of industrials Investors have been encouraged by stronger economic data out of China and the prospect of fiscal stimulus in the US and have significantly increased their exposure to industrial metals. Conversely... 6th December 2016 · 1 min read
Commodities Weekly OPEC seal the deal Oil prices surged this week as OPEC surpassed expectations by confirming production cuts and announcing quotas for member countries. Given OPEC’s poor record on compliance, we are sceptical that the... 2nd December 2016 · 1 min read
