Industrial Metals Update Investors still cautious, for now Over the past month, precious metal prices have posted decent gains, led by silver. While the technical outlook is improving, investor sentiment remains broadly bearish. This suggests further price... 20th May 2015 · 1 min read
Energy Update US natural gas prices to continue to rally We think that the recent surge in US natural gas prices is set to persist, driven by higher demand from power plants, lower production and the first gas exports from the US to Asia and Europe. 19th May 2015 · 1 min read
Commodities Update Supply concerns overshadow dollar weakness Weakness in the US dollar and rising oil prices would normally be considered positive for agricultural commodity prices. However, despite a 3.5% fall in the value of the US currency and a 5% rise in... 19th May 2015 · 1 min read
Commodities Update Commodity markets stage a comeback Energy and industrial metals prices have risen strongly since the middle of April, buoyed by further weakness in the US dollar and improved investor sentiment. Crude oil prices have also been... 18th May 2015 · 1 min read
Industrial Metals Update The future looks bright for cobalt Strong demand prospects will support cobalt prices in 2015-16. However, for now, the supply picture is more than comfortable suggesting only limited scope for significant price gains. 15th May 2015 · 1 min read
Commodities Update Is there any hope for the price of US lumber? Weak US housing starts and high lumber imports are likely to be behind the large fall in the price of US lumber this year. But a rebound in starts over the coming months should support the price. 15th May 2015 · 1 min read
Commodities Update Which commodities could be most affected by El Niño? An El Niño event does not automatically translate into higher commodity prices. Its impact on production and prices will largely depend on its strength and duration, as well as the prevailing... 14th May 2015 · 1 min read
Precious Metals Update Platinum price to benefit from approaching “strike season” There is a renewed risk of strike action at South Africa’s platinum mines as companies are forced to restructure, leading to job cuts. We believe that the platinum market is already quite tight after... 13th May 2015 · 1 min read
Commodities Update Lower production won’t stop corn & wheat prices falling The USDA’s initial crop forecasts for 2015/16 suggest that world corn, wheat and soybean markets will remain well-supplied. As such, we continue to forecast the prices of all three crops to fall... 13th May 2015 · 1 min read
Industrial Metals Update Falling stocks point to stronger demand Stocks of base metals generally fell over the last month. Admittedly, factors specific to individual commodities explained some of the inventory drawdown, but it does suggest that the markets are... 13th May 2015 · 1 min read
Commodities Update Return of Russian wheat to put more pressure on prices With food price inflation appearing to have peaked and the economy probably already in recession, Russia is unlikely to extend its export tax on wheat. Although the authorities may leave the door open... 11th May 2015 · 1 min read
Industrial Metals Update China's policy direction supportive of copper demand All the signs are that the Chinese authorities are committed to using the powerful tools at their disposal to prevent a “hard landing”. We expect that this will result in stronger demand for... 11th May 2015 · 1 min read
Commodities Update US Employment Report (Apr.) The monthly US employment report can often trigger large movements in global commodity prices. April’s data, released today, have so far been an exception. Nonetheless, the numbers support our view... 8th May 2015 · 1 min read
Commodities Update China’s oil imports up strongly in April China’s commodity imports, with the exception of oil, remained relatively subdued in April. However, we expect import growth to pick up in tandem with higher government spending on infrastructure. 8th May 2015 · 1 min read
Energy Update Oil prices will struggle to rally further The recent bounce back in oil prices has prompted speculation about whether they are about to return to the $100 per barrel levels of the last few years. However, there are some major headwinds, both... 7th May 2015 · 1 min read
Commodities Update FAO Food Outlook (May 2015) The FAO’s initial forecast for world cereal production, including wheat and corn, is for a fall in 2015, after two years of consecutive record harvests. 7th May 2015 · 1 min read
