Energy Update What to make of promises of more output from Libya and Nigeria Planned increases in output from Libya and Nigeria makes it even less likely that major oil producers will agree an output freeze next week in Algeria. But the output gains will have to be sustained... 22nd September 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report (21st Sep. 16) US crude oil stocks fell sharply last week. However, imports and production rose whilst demand from refineries slipped back. Gasoline stocks also declined as demand jumped and output from refineries... 21st September 2016 · 1 min read
Metals Data Response Global Steel Production (Aug.) South Africa’s total mine production continued to fall in August, but PGM output recovered as miners took advantage of higher prices. Looking ahead, we think there is a risk of supply disruptions in... 21st September 2016 · 1 min read
Commodities Update Dollar strength weighs on sentiment A stronger dollar, a reduction in risk appetite and a scaling back of expectations that oil producers will actually limit output made it a tough month for most commodities. However, the price of gold... 20th September 2016 · 1 min read
India Economics Update Domestic factors unlikely to cause rupee slump The rupee has been stable against the US dollar in recent months. Looking ahead, suggestions that domestic factors, including calls from within government for a devaluation of the currency and the RBI... 20th September 2016 · 1 min read
Industrial Metals Update China Industrial Metals Output Monitor (Jul./Aug.) Detailed Chinese industrial production figures for August paint a mixed picture of refining activity. While refined copper production was growing strongly, there were sharp downturns in tin and nickel... 20th September 2016 · 1 min read
Metals Data Response Global Aluminium Production (Aug. 16) According to the International Aluminium Institute (IAI), global primary aluminium output fell by 0.2% y/y in August. So far this year, output in the World ex China has risen, while China’s production... 20th September 2016 · 1 min read
Commodities Watch Bulging stocks to weigh on the prices of grains & soybeans Supply of the main grains and soybeans looks set to rise in 2016/17, after adverse weather –notably in Latin America – dented harvests in 2015/16. That said, many analysts suspect that the United... 19th September 2016 · 1 min read
Commodities Weekly Attention to return to the Fed The price of oil has taken a hit this week as hopes faded of an OPEC-led agreement between producers to freeze output. However, other industrial commodities performed somewhat better, buoyed by the... 16th September 2016 · 1 min read
Energy Update Spare oil production capacity ample for now We think that concerns about the lack of spare capacity in the oil market are overdone as supply is already ample and stocks are high. However, as the market tightens over the next few years, low... 15th September 2016 · 1 min read
Industrial Metals Update Rising stocks weigh on copper prices The ongoing surge in LME copper stocks was the key development last month and contributed to renewed bearish sentiment towards the metal. In contrast, stocks of all the other metals have fallen over... 15th September 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report (14th Sep. 16) US inventories of crude oil fell last week as imports rebounded by less than expected after the previous week’s hurricane-related disruptions. On the other hand, stocks of gasoline and distillates... 14th September 2016 · 1 min read
Metals Watch Oversupply to weigh on the price of iron ore Iron ore prices have been on a bit of a rollercoaster this year, rising on waves of optimism about China’s demand, before slipping back on persistent growth in supply. In this Metals Watch, we argue... 14th September 2016 · 1 min read
Middle East & North Africa Economics Update Will economic pain prompt a shift in Saudi oil policy? The slowdown in Saudi Arabia’s economy has prompted the authorities to soften their opposition to a deal to freeze oil output. While a deal is more likely than it was earlier this year, there are... 14th September 2016 · 1 min read
Latin America Economics Update Falling mining output to drag on regional recovery Q2 GDP data released across Latin America over the past month revealed that the mining sector was a key drag on growth in a number of economies. This looks set to continue as the lagged impact of... 13th September 2016 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Aug.) Metals prices received a boost today as August activity data out of China surprised on the upside. There is now clear evidence that the monetary and fiscal stimulus enacted earlier in the year is... 13th September 2016 · 1 min read
