Metals Data Response China and India Gold Imports (Apr.) The latest data couldn’t be clearer: gold demand in the top two importing nations all but vanished in April. Imports should rise in the months ahead but will remain low by past standards. In any case... 26th May 2020 · 2 mins read
Metals Data Response Global Steel Production (Apr.) The latest data add to the evidence of a growing divergence in the trend in steel output between China and the rest of the world. And as infrastructure spending in China is stepped up over the coming... 22nd May 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report Last week, US commercial crude stocks fell for the second week running. Digging deeper, though, reveals that the rebound in gasoline demand – which has so far underpinned much of the growing market... 20th May 2020 · 2 mins read
Metals Data Response Global Aluminium Production (Apr.) Global aluminium output growth slowed further in April. However, with demand in China now picking up as its economy emerges from lockdown, the possibility of substantial output declines there appears... 20th May 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks unexpectedly fell last week, adding to growing evidence that the US oil market has passed the worst. That said, a sustained recovery is not on the cards for some time yet... 13th May 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report Although US crude stocks climbed again last week, there are promising signs that the stress in the US oil market is beginning to ease. That said, a material turnaround in conditions remains some way... 6th May 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks rose again last week, but the pace of the builds is showing more signs of slowing. We expect stocks to continue to increase until the coronavirus-related quarantine measures are fully... 29th April 2020 · 2 mins read
Metals Data Response China and India Gold Imports (Mar.) Imports of gold into China and India continued to contract at a double-digit pace in March. But the plunge in physical demand has had little impact on the gold price, as it has been outweighed by... 27th April 2020 · 2 mins read
Metals Data Response Global Steel Production (Mar.) Global steel output declined in March in year-on-year terms. And all the signs suggest that worse is yet to come. As we had previously argued, the first global contraction in steel production for five... 22nd April 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks jumped again last week, despite a small fall in production and a hefty drop in imports. Stocks are likely to continue to climb until the lockdowns are lifted, but the pace of increase... 22nd April 2020 · 2 mins read
Metals Data Response Global Aluminium Production (Mar.) Aluminium output growth slowed last month. But with demand for aluminium collapsing, nothing short of a huge contraction in output will do enough to prevent stocks from piling up. Such a fall in... 20th April 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US crude and product stocks soared again last week as the virus-related disruption continued to weigh on demand. We expect crude stocks to rise further in the coming weeks, but the recent OPEC+ deal... 15th April 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report The latest US weekly data clearly showed the negative impact on oil demand of measures to contain the coronavirus. Further stock builds are likely in the near term, despite falling domestic production... 8th April 2020 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks rose a touch last week. We expect bigger increases in the coming weeks given that refineries have announced plans to curb output in response to the virus-related slump in product... 25th March 2020 · 2 mins read
Metals Data Response Global Steel Production (Feb.) Global steel output was reasonably resilient in February. But that follows substantial downward revisions to the January figures. And while policy support – particularly in China – may boost steel... 23rd March 2020 · 2 mins read
Metals Data Response Global Aluminium Production (Feb.) Despite alarm bells ringing for global aluminium demand, output growth continued to gather pace in February. This will only have added to the piles of unwanted inventory and is another reason to... 20th March 2020 · 2 mins read
