Event

Commodities Drop-In: China trade data and the commodities demand outlook

1709798400

How strong was Chinese commodities demand at the start of 2024? What do official growth and spending targets signal about demand over the coming year?

Industrial Metals Update

Global Aluminium Production (Jan.)

Global aluminium production was unchanged in January compared to December. This reinforces our view that production growth will soften this year.

20th February 2024 · 2 mins read

Commodities Weekly

Natural gas and grains prices give way

The plunge in natural gas prices breathed some life into what was otherwise a relatively quiet week in commodity markets. Prices have fallen heavily in most major gas markets as stocks remain high for...

16th February 2024 · 6 mins read

Industrial Metals Update

Europe's aluminium industry not dead yet

Higher aluminium prices and lower production costs should incentivise Europe’s smelters to restart some production in both 2024 and 2025. The introduction of CBAM in 2026 means prices will then...

15th February 2024 · 3 mins read

Industrial Metals Update

Wave of supply will keep nickel prices low

We think the huge expansion in nickel supply will keep the market balance in a sizeable surplus this year. Accordingly, we don’t think the price will muster a recovery from its recent slump.

12th February 2024 · 2 mins read

Commodities Update

Global sugar rush to slowly fade away

After a sweet start to the year, sugar prices should take on a more sour note over the rest of 2024. Prices will fall back as El Niño comes to an end and the supply outlook improves but any relaxation...

8th February 2024 · 3 mins read

Commodities Chart Pack

Commodities Overview Chart Pack (Feb. 2024)

Oil prices are likely to remain buffeted by supply fears as long as the conflict in the Middle East continues. However, we think there will be support on the demand side later in the year as monetary...

6th February 2024 · 1 min read

Capital Daily

Will Treasuries keep ignoring oil prices?

Oil prices have had only limited impact on US Treasury yields recently, and we suspect that this will remain the case in the next couple of years.

5th February 2024 · 4 mins read

Commodities Weekly

US natural gas prices to stay low in 2024

We have revised down our forecast for US natural gas prices this year, as the outlook for domestic supply has improved. Note: Join our special online briefing on Middle East conflict, shipping...

2nd February 2024 · 4 mins read

Metals Chart Pack

Metals Chart Pack (Feb. 2024)

Our Metals Chart Pack has been updated with the latest data and our analysis of recent developments. Industrial metals demand will recover this year, boosted by rate cuts and stabilising economic...

2nd February 2024 · 1 min read

Event

Asia Drop-In: After Jokowi – Indonesia’s election and its long-term economic outlook

1707811200

Indonesians go to the polls on 14th February to elect a successor to Joko Widodo, the president popularly known as Jokowi, who pushed through some key reforms to secure the country’s

Commodities Update

Some positives in China’s PMI data

China PMI surveys showed some signs of strengthening in January. But we still think they understate the strength of metals demand, which we expect to hold up fairly well this year. Note: Join our...

1st February 2024 · 2 mins read

Metals Focus

Introducing our lithium price forecast

We forecast that global lithium demand will roughly double by 2025 (from 2022). But supply will increase at a slower pace, which is why we forecast that prices will rise. In this Metals Focus, we set...

31st January 2024 · 11 mins read

Event

Global Drop-In: Geopolitics, shipping disruptions and supply chain risks

1707318000

Do maritime disruptions threaten a repeat of pandemic-era supply shocks? Should investors brace for an inflationary resurgence?

JODI Energy Demand Monitor

JODI Energy Demand Monitor

JODI data on global oil and natural gas consumption paint a nuanced picture of global energy demand. While oil demand growth slowed towards the end of last year, consumption of natural gas was...

29th January 2024 · 4 mins read