Metals Data Response Global Steel Production (Oct.) Global steel production contracted again in y/y terms in October, mainly owing to lower Chinese production. China’s output may rebound a little in the coming months as power rationing has come to an... 23rd November 2021 · 2 mins read
Metals Data Response Global Aluminium Production (Oct.) October’s IAI data suggest the easing of power restrictions in China has enabled greater utilisation rates at smelters, driving the global increase in output this month. We think that aluminium output... 22nd November 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report The latest weekly data show falling crude and petroleum product inventories and a jump in implied demand. The strength in demand is somewhat surprising given the rise in gasoline prices, but we... 17th November 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report Crude oil in commercial storage rose last week for the second week on the trot, helped by a planned release of strategic reserves. But the big picture is that stocks remain low by past standards... 10th November 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial stocks rose last week on a release of strategic reserves and a jump in net imports. Exports could fall further in the coming weeks given the need to rebuild stocks at the WTI Cushing hub... 27th October 2021 · 2 mins read
Metals Data Response Global Steel Production (Sep.) Global steel output plunged in September primarily owing to a dramatic decline in China’s production. We suspect that China’s output will remain low for some months yet, which will act as a floor... 26th October 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report Strong exports contributed to the first drawdown in stocks in four weeks last week, supporting already-high crude prices. What’s more, stocks at the hub of Cushing, Oklahoma, also fell and they are... 20th October 2021 · 2 mins read
Metals Data Response Global Aluminium Production (Sep.) Slower growth in aluminium output in September was probably linked to surging power prices. The combination of constrained output and soaring production costs will support aluminium prices in the near... 20th October 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report A large fall in the refinery utilisation rate drove another increase in stocks last week, although utilisation rates are normal for the time of the year. And with output set to remain constrained... 14th October 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report A jump in crude oil production led to the first stock build in eight weeks. However, with output still constrained and demand set to remain strong, stocks are likely to remain low for some time to... 29th September 2021 · 2 mins read
Metals Data Response Global Steel Production (Aug.) Despite high prices, global steel output contracted in August. And given that the authorities in China are proactively encouraging lower output there, further falls in the coming months appear likely. 23rd September 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks have continued to fall as refinery activity has so far recovered faster than crude output following Hurricane Ida. And with demand already broadly back to pre-pandemic levels, US crude... 22nd September 2021 · 2 mins read
Metals Data Response Global Aluminium Production (Aug.) August’s IAI data suggest that fears that power rationing in Chinese smelting hubs would negatively impact supply, which have boosted aluminium prices to decade highs, are overdone. Instead, we think... 20th September 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report There were hefty falls in both crude and petroleum product stocks, reflecting closed production capacity due to damage caused by Hurricane Ida. Implied gasoline demand also dropped back but it is... 15th September 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report There was a small draw in crude stocks last week, despite a dramatic drop in refinery utilisation as many refineries closed ahead of the Hurricane Ida. Notwithstanding, US gasoline demand remained... 9th September 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report Last week’s sharp fall in US commercial crude stocks is at odds with many of the underlying indicators. In any case, stocks seem likely to rise in the weeks ahead as reports suggest that refinery... 1st September 2021 · 2 mins read
