Commodities Update US oil exports just one piece of the puzzle Despite the recent surge in US oil exports, the volumes of crude leaving the US remain minute. It is looking increasingly likely that some export restrictions will be relaxed, but this could take... 18th June 2014 · 1 min read
Commodities Update Silver set to outshine gold again Sentiment in the silver market has remained bearish this year, despite higher gold prices and the strength of global equities. Silver and gold can become disconnected at times, reflecting their very... 18th June 2014 · 1 min read
Commodities Update Iraq now even less likely to reach oil production goals The capture of a number of Iraqi cities by insurgents over the last few days has served to highlight the difficulty Iraq will have in meeting its lofty aims for oil output. However, the impact on... 12th June 2014 · 1 min read
Commodities Update Corn prices are likely to continue to fall this year Good growing conditions in the US and elsewhere recently have boosted hopes of another set of bumper harvests. If realised, this should lead to sharp falls in prices, especially of soybeans. 11th June 2014 · 1 min read
Commodities Update Saudi Arabia to shoulder more of OPEC's burden The twice-yearly OPEC meeting in Vienna this week is likely to confirm the official production target of 30m barrels per day. But this is unlikely to prevent the oil price from falling over the next... 10th June 2014 · 1 min read
Commodities Update Chinese commodity imports are likely to fall further China’s imports of all the main commodities fell sharply in May. This suggests that slower economic growth and the attempts to clamp down on financing deals are starting to have a negative impact on... 9th June 2014 · 1 min read
Commodities Update Can other EMs match the growth in China's metal demand? With China’s economy slowing and moving out of its most commodity-intensive phase of development, attention is turning to other developing countries and whether they can replicate China’s consumption... 6th June 2014 · 1 min read
Commodities Update Fracking to provide small but growing boost to UK gas output The UK’s production of fossil fuels is likely to continue declining for the next few years. However, the prospects for shale gas are looking more positive, even if commercial production is still a... 5th June 2014 · 1 min read
Commodities Update The vultures are circling on financing deals All the signs are that commodity demand as part of Chinese financing deals is set to fade. The profitability of the schemes is being eroded and the authorities are stepping up efforts to curb some... 4th June 2014 · 1 min read
Commodities Update The latest salvo in the war on coal The rules proposed by the US Environmental Protection Agency should ultimately serve to reduce demand for coal and put downward pressure on prices, even if there are lengthy legal challenges. 3rd June 2014 · 1 min read
Commodities Update Gold retains core appeal despite latest price dip The recent decline in the price of gold can largely be explained by a reduction in safe-haven demand, as concerns over the wider fallout from the crisis in Ukraine have eased and global equities have... 30th May 2014 · 1 min read
Commodities Update Aluminium prices continue to tread a thin line Strong growth in demand and supply bottlenecks will offer some support to aluminium prices and premiums this year, despite a backdrop of Chinese overproduction and high global stocks. As long as a... 29th May 2014 · 1 min read
Commodities Update Russia – China deal unlikely to boost European gas prices Proposed exports of Russian gas to China will have limited impact on the potential supply to the rest of Europe. Indeed, the price of LNG may actually be lower than otherwise as a result of the... 22nd May 2014 · 1 min read
Commodities Update Manufacturing data stabilise, but concerns remain Today’s flash manufacturing PMI data for China suggest that the economy is stabilising. While stronger export orders and manufacturing activity are positive news for commodity prices, the commodity... 22nd May 2014 · 1 min read
Commodities Update Coffee prices set to cool The price of Arabica coffee has soared this year as the market looks likely to fall into deficit after four years of excess production. However, stocks are high and there is a huge risk premium in... 21st May 2014 · 1 min read
Commodities Update Cocoa prices will fall unless El Niño disrupts production We expect cocoa prices to fall back in 2014-15 as market expectations of surging consumption growth appear misplaced. Indeed, we expect the market to return to a small surplus in 2013/14 after two... 19th May 2014 · 1 min read