Middle East & North Africa Economic Outlook Regional slowdown approaching a trough The slowdown in the Middle East and North Africa should bottom out in the second half of this year and growth is likely to strengthen in 2018-19. In the Gulf, the hit to headline GDP growth from OPEC... 5th July 2017 · 1 min read
Energy Chart Pack Have oil prices bottomed out? Oil prices fell for most of last month as rising production in the US and in some OPEC countries weighed on investor sentiment. However, falling US stocks and a slight dip in the number of US drilling... 4th July 2017 · 1 min read
Metals Chart Pack Industrials power ahead The prices of most industrial metals rose last month, supported by some weakness in the US dollar and more encouraging data out of China. Although activity there slowed in the second quarter, there... 4th July 2017 · 1 min read
Commodities Chart Pack Industrials boosted by signs of stability in China A tentative revival in China’s economic activity late in the second quarter gave a renewed lift to the prices of the more industrial metals in June. However, it failed to translate into higher... 3rd July 2017 · 1 min read
Commodities Update Some strength at end-Q2 After diverging in May, the official and unofficial June manufacturing PMIs for China told a similar story of somewhat stronger activity in the final month of the quarter. However, the bigger picture... 3rd July 2017 · 1 min read
Precious Metals Update How will South Africa’s mining charter affect PGM output? South Africa’s controversial new mining charter will probably exacerbate the decline in the PGM sector. Higher costs, in tandem with lower foreign investment, could weigh on PGM production going... 3rd July 2017 · 1 min read
Middle East & North Africa Chart Pack Politics rocks the Gulf Political developments have dominated the news in the MENA region this month. In Qatar, financial markets have sold off amid a diplomatic spat with regional powers. So far, though, the broader... 30th June 2017 · 1 min read
Commodities Weekly Dollar weakness helping to prop up prices It has been a relatively quiet week although the prices of most commodities rose, supported by a further depreciation of the US dollar. The precious metals were the relative underperformers, perhaps... 30th June 2017 · 1 min read
Energy Update Will US shale continue to flood the oil market? US shale production growth is likely to slow sharply towards the end of the year as the recent low prices cap the number of drilling rigs. What’s more, fewer efficiency gains will start to weigh on... 29th June 2017 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Another rise in net imports contributed to a slight increase in crude oil inventories last week. At the same time, gasoline and distillate stocks fell in spite of weak demand for petroleum products. 28th June 2017 · 1 min read
Industrial Metals Update China Industrial Metals Output Monitor (May) After a strong start to 2017, growth in China’s refinery output appears to be slowing. This corroborates broader activity and investment data, which have lost some momentum going into the second... 28th June 2017 · 1 min read
Africa Economics Update South Africa: Mining charter an ominous sign of things to come Revisions to the charter governing South Africa’s mining sector have been opposed by the industry and rattled the markets. In this Watch, we examine the industry’s complaints, explain the political... 28th June 2017 · 1 min read
Commodities Watch How important is Africa for agriculturals? Given Africa’s large size and geographic diversity, most of the world’s key agricultural commodities are produced somewhere on the continent. In this Commodities Watch, we first discuss the importance... 28th June 2017 · 1 min read
Commodities Update Low volatility here to stay Volatility in commodity markets is likely to remain lower than average for the next year. The main exception could be the oil market where any change in tack by OPEC would cause sharp moves in prices. 27th June 2017 · 1 min read
Metals Data Response China and India’s gold imports (May) The latest trade data show gold imports moved in opposing directions in the two largest consumers last month. The fall in China’s gold imports suggests weaker underlying demand, while India’s imports... 26th June 2017 · 1 min read
Metals Watch Copper price to struggle The price of copper has been trading in a fairly narrow range in the last few weeks, but is still significantly higher than at the start of 2016. In this Metals Watch, we discuss the main drivers of... 26th June 2017 · 1 min read
