Metals Data Response China and India Gold Imports (Jan.) January trade data showed that China’s gold imports surged but India’s imports were down on the month. We expect imports from both countries to decline in the months ahead as higher prices deter... 26th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report The US has now cemented its position as the largest oil producer in the world. Unsurprisingly, inventories rose, despite record-high exports, denting hopes of a further oil price rally. 21st February 2019 · 1 min read
Metals Data Response Global Aluminium Production (Jan.) Global production growth plummeted in January, but given that input costs are falling, we think that output growth will recover later this year. 20th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks recorded a hefty build, primarily reflecting a decline in refinery inputs as net imports plunged and production remained unchanged. 13th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks nudged up, despite a fall in net imports and a rise in refinery activity. Although US product demand remains robust, we expect it to ease back later in 2019 as the economy starts to... 6th February 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks edged up a touch, as inputs to refineries plunged. Product demand is holding up well for now, but we expect it to fall later in the year as the US economy slows. 30th January 2019 · 1 min read
Metals Data Response China and India Gold Imports (Dec.) The latest trade data from India and China show that gold imports slumped in December. We expect the decline in imports to continue in India, for January at least, as prices are higher in local... 29th January 2019 · 1 min read
Metals Data Response Global Steel Production (Dec.) Today’s data suggest that rapid increases in global steel output in 2018 are not set to be repeated in 2019. We think demand weakness will be a drag on prices and production this year. 25th January 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks jumped, after falling for the past two weeks, despite no change in production. That said, the large jump in production may not be repeated this year given low prevailing prices. 24th January 2019 · 1 min read
Metals Data Response Global Aluminium Production (Dec.) European smelter closures and a further reduction in output at the Bécancour smelter in Canada saw global production growth plummet m/m in December. However, with cost pressures easing and smelters... 21st January 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks fell for the second consecutive week, despite an increase in production and a lower input to refineries. And the further build in gasoline and distillate stocks suggest softening... 16th January 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks fell in the first week of 2019 and domestic production was unchanged. The hefty gains in refined product stocks, despite the dip in the refinery utilisation rate, make it clear that... 9th January 2019 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude stocks rose at the end of December as domestic production remained stable and crude inputs to refineries grew. While the slight increase in crude stocks is not too concerning, the surge in... 4th January 2019 · 1 min read
Metals Data Response Global Aluminium Production (Nov.) Closures of Chinese smelters in December mean that November’s sharp increase in global aluminium production will not be repeated. Consequently, the recent surge in stocks could start to unwind. 20th December 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report A small drop in US stocks coupled with signs of solid growth in products demand suggest that some of the market’s fears about oversupply may be overdone. We continue to expect that the output cuts... 19th December 2018 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US crude oil stocks edged lower in early December as domestic output fell back and inputs to refineries remained high. Stocks may fall further in the coming weeks, if refinery activity remains strong. 12th December 2018 · 1 min read
