Commodities Update What could China's Third Plenum mean for steel? In the short term the economic reform package set out at the end of a meeting of top Chinese government officials, known as the Third Plenum, should have little impact on the prices of steel or... 26th November 2013 · 1 min read
Commodities Update What could the deal with Iran mean for oil prices? The deal between Iran and the West is unlikely to result in an immediate increase in oil supplies, but it does lay the groundwork for a potentially much more significant agreement next year. We expect... 25th November 2013 · 1 min read
Commodities Update China and euro-zone PMIs point to weak industrial demand As if the uncertainty over Fed tapering were not enough to worry about, early business survey indicators from China and the euro-zone suggest that demand for industrial commodities will disappoint. 21st November 2013 · 1 min read
Commodities Update Cut in ethanol law knocks back hopes of higher corn demand The proposed reduction in the Renewable Fuels Standards in the US could reduce US corn consumption by over 4% next year compared to likely consumption under the current law. This should put further... 19th November 2013 · 1 min read
Commodities Update Gold demand statistics not all bad news Data published by the World Gold Council today report that global demand for gold fell by more than a fifth in Q3 relative to the same period a year earlier, as Western investor appetite waned and... 14th November 2013 · 1 min read
Commodities Update How big an impact could an Iran deal have on oil prices? Iran and the West appear to be edging towards an interim deal that should ease tensions over Iran's nuclear programme, despite the impasse in Geneva at the weekend. Sanctions on Iran's oil exports... 12th November 2013 · 1 min read
Commodities Update Corn supplies to remain plentiful, despite rising demand In spite of the increase in demand for animal feed projected in the latest WASDE, we still expect the global supply of the major grains and soybeans to be ample. What’s more, other source of demand... 11th November 2013 · 1 min read
Commodities Update Rising Chinese imports need not be bullish The pick-up in China's imports of commodities in recent months is perhaps further evidence of the recovery in economic activity already seen in other data, but is not necessarily telling us much about... 8th November 2013 · 1 min read
Commodities Update Gold should continue to outshine industrial metals The prospects for the price of gold remain better than those for most industrial metals, with silver fitting in somewhere in between. 30th October 2013 · 1 min read
Commodities Update Rising supply to continue to undermine copper prices The supply of copper has risen significantly faster than demand so far this year. This trend should lastwell into next year, adding to the downward pressure on the price of the red metal. We... 29th October 2013 · 1 min read
Commodities Update Increased efficiency to sustain shale boom Much of the surge in US oil production has come from improvements in drilling technology and processes rather than an increase in the number of rigs. These improvements should reduce costs and allow... 23rd October 2013 · 1 min read
Commodities Update Rise in the price of cocoa more bitter than sweet for producers Bad weather in West Africa may continue to drive the price of cocoa higher until the rainy season in the spring. But we think over the next few years, a combination of better farming techniques and... 21st October 2013 · 1 min read
Commodities Update Strength in China's commodity imports likely to be temporary China’s imports of most major commodities rose in September. But we expect growth in demand for commodities to slow over the next year as China rebalances its economy. 14th October 2013 · 1 min read
Commodities Update Why isn't the gold price higher? There are several possible explanations for the failure of the gold price to take off despite the prospect that the US government may soon default on its debt. The most plausible is simply that the... 10th October 2013 · 1 min read
Commodities Update China has the cotton market sewn up for now We expect movements in the price of cotton to be driven by policy decisions in China over the next year. A probable reduction in government support for Chinese cotton farmers in 2014 is likely to put... 9th October 2013 · 1 min read
Commodities Update Brent - WTI spread to fall back again We expect the Brent-WTI spread to gradually decrease from about $6 per barrel today to zero over the next year, as logistical constraints in Cushing and Louisiana ease. 7th October 2013 · 1 min read