Energy Update Vaccine would aid oil price recovery, but risks remain News of a vaccine sent oil prices surging on Monday on the back of expectations that this will enable demand to recover more quickly than previously thought. But higher prices also increase the... 11th November 2020 · 3 mins read
Commodities Update China’s commodity imports may be normalising China’s commodity import volumes remained high in October, although they eased back from September levels. We expect import volumes to remain solid in the coming months given the strength in economic... 9th November 2020 · 2 mins read
Energy Update Fresh lockdowns to weigh on European oil demand New national lockdowns in Europe have led us to revise down our oil demand forecasts for Q4. But the decline is likely to be much smaller than in Q2, not least because the economic hit will be less... 6th November 2020 · 2 mins read
Industrial Metals Update Political gridlock will rein in any Green New Deal The apparent failure of the Democratic Party to win a ‘clean sweep’ in this week’s US election means that many of the policy initiatives and spending proposals made by presidential hopeful, Joe Biden... 6th November 2020 · 3 mins read
Energy Update Political gridlock will rein in any Green New Deal The apparent failure of the Democratic Party to win a ‘clean sweep’ in this week’s US election means that many of the policy initiatives and spending proposals made by presidential hopeful, Joe Biden... 6th November 2020 · 3 mins read
Commodities Update Political gridlock will rein in any Green New Deal The apparent failure of the Democratic Party to win a ‘clean sweep’ in this week’s US election means that many of the policy initiatives and spending proposals made by presidential hopeful, Joe Biden... 6th November 2020 · 3 mins read
Energy Update No light at the end of the tunnel for thermal coal Despite a small revival in thermal coal prices ahead of winter in the Northern Hemisphere, we doubt it will be long before they start to test historic lows again. And if, as we expect, the COVID-19... 5th November 2020 · 4 mins read
Industrial Metals Update Strong Asian electronics exports to support prices The recent strength in Asian exports reflects sustained growth in global electronics demand, which has been a factor underpinning the recent rally in industrial metals prices. We expect electronics... 4th November 2020 · 2 mins read
Industrial Metals Update Weighing up the relative prospects for energy & metals We think that energy commodities will claw back a bit of the ground that they have lost relative to industrial metals over the next two years or so, as some cyclical factors linked to COVID-19 which... 3rd November 2020 · 4 mins read
Energy Update Weighing up the relative prospects for energy & metals We think that energy commodities will claw back a bit of the ground that they have lost relative to industrial metals over the next two years or so, as some cyclical factors linked to COVID-19 which... 3rd November 2020 · 4 mins read
Commodities Update Weighing up the relative prospects for energy & metals We think that energy commodities will claw back a bit of the ground that they have lost relative to industrial metals over the next two years or so, as some cyclical factors linked to COVID-19 which... 3rd November 2020 · 4 mins read
Energy Update Asia LNG price rally to peter out in months ahead We suspect that the rapid recovery in Asia LNG prices will run out of road in the coming months, as supply returns and LNG cargoes are potentially diverted away from Europe. 3rd November 2020 · 2 mins read
Commodities Update Keeping a close eye on La Niña In the past, La Niña weather conditions in the Pacific Ocean have had a significant impact on agricultural crops and prices. In this Update we consider the risks that the development of La Niña over... 3rd November 2020 · 5 mins read
Commodities Update China PMIs paint positive picture for commodities China’s October PMI data add weight to our view that Chinese economic growth will continue to accelerate, even though we estimate that the economy is already back to its pre-virus trend. This will... 2nd November 2020 · 2 mins read
Industrial Metals Update China’s five-year plan is too barebones to move prices Commodity prices have largely shrugged off the conclusion of China’s Fifth Plenum and discussion of the 14 th Five-Year Plan (FYP). This is not so surprising as the main takeaway from the event is... 30th October 2020 · 3 mins read
Energy Update China’s five-year plan is too barebones to move prices Commodity prices have largely shrugged off the conclusion of China’s Fifth Plenum and discussion of the 14 th Five-Year Plan (FYP). This is not so surprising as the main takeaway from the event is... 30th October 2020 · 3 mins read
