Industrial Metals Update Aluminium prices set for slow recovery in 2016 Having fallen sharply over the first eleven months of the year, the price of aluminium reached a six-year low in late November, although it has since recovered a little ground. In 2016, we expect... 11th December 2015 · 1 min read
Commodities Update Strong competition to drag grain & soybean prices lower The combination of ample global supplies and strength in the US dollar have weighed on corn, wheat and soybean prices this year. With the likelihood of additional exports from Argentina, we think... 10th December 2015 · 1 min read
Industrial Metals Update Taking stock of 2015 2015 may not be quite over, but this year’s trends in exchange inventories of key industrial metals are clear. For the most part, stocks have fallen, not so much because of strong demand but because... 10th December 2015 · 1 min read
Commodities Update Malaysia Monthly Palm Oil Data (Nov.) Data released earlier today by Malaysia’s Palm Oil Board show that while palm oil production fell sharply in November, a large fall in exports pushed stocks higher. 10th December 2015 · 1 min read
Precious Metals Update Retail investment to help support silver prices Expectations for a December rate hike by the Fed and a strong dollar have seen the price of silver fall to the lowest level in over six years. But, all is not lost: low prices have triggered a strong... 9th December 2015 · 1 min read
Energy Update Oil prices should recover in 2016, regardless of OPEC Brent’s (short-lived) dip today below $40 per barrel is a further damning verdict on OPEC’s bungled communications after its meeting last Friday. However, it was never likely that the group would... 8th December 2015 · 1 min read
Commodities Update China’s commodity imports lifted by policy support The value of China’s imports fell once more in November, although the decline was not as large as anticipated. More significantly, commodity import volumes rose strongly, which suggests that low... 8th December 2015 · 1 min read
Commodities Update Cotton prices to remain under pressure from huge stocks Although cotton is shaping up to be one of the best performing commodities in 2016, its price has been on a downward trend over the second half of the year. We think that large global inventories will... 8th December 2015 · 1 min read
Commodities Update Brazil Sugar Production (16th Nov. – 1st Dec.) Figures released today by Brazil’s Sugarcane Industry Association, UNICA, show that 18.7 million tonnes of cane were harvested in the second half of November in the main Centre-South cane-growing... 8th December 2015 · 1 min read
Industrial Metals Update Banging the tin drum With exchange stocks at six-year lows and refined output falling, the tin market looks increasingly tight. However, stronger demand, which we expect in 2016, is needed for a sustained rise in prices. 7th December 2015 · 1 min read
Commodities Update US lumber price should recover in 2016 The price of US lumber has fallen sharply this year, despite an ongoing improvement in the US housing sector. This divergence can be explained in part by the depreciation of the Canadian dollar, which... 7th December 2015 · 1 min read
Commodities Update Stronger dollar hits agriculturals as sentiment weakens A general strengthening of the US dollar in recent weeks, on expectations that the Fed will begin to raise interest rates this month, has been a key factor dragging agricultural prices lower. Along... 3rd December 2015 · 1 min read
Commodities Update Ample supplies to keep corn prices under pressure While the US EPA’s finalised renewable fuel standard should boost demand for US corn next year, we think ample global supplies will continue to weigh on the price in the near term. 2nd December 2015 · 1 min read
Commodities Update Glimmers of hope on the demand side There are many factors behind the current weakness of commodity prices, including the overhang of supply from the previous boom, the strength of the US dollar, and poor investor sentiment. But there... 1st December 2015 · 1 min read
Energy Update Stronger economic growth to support oil demand A pick up in global growth over the next few years, especially in major oil consuming countries, should help demand for oil to remain strong rather than tail off. This in turn should support oil... 30th November 2015 · 1 min read
Industrial Metals Update More supply cuts, but are they enough? China’s metal refiners have been announcing output cuts in 2016. Although Chinese producers have a poor record on curtailing production, we think a combination of reduced raw material supply and... 30th November 2015 · 1 min read