Industrial Metals Update Investor sentiment sours The prices of most metals fell last month, undermined by some strengthening of the US dollar as a result of renewed expectations that the Fed will raise interest rates sooner rather than later. The... 1st September 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report - (31st Aug. 16) US distillate fuel and crude oil inventories rose again last week, the latter increase owing to higher net imports and an easing back of refiner demand. 31st August 2016 · 1 min read
Canada Data Response GDP (Q2 2016) The 1.6% annualised decline in second-quarter GDP was worse than the 1.0% decline anticipated by the Bank of Canada in its July Monetary Policy Report. But Statistics Canada estimates that decline was... 31st August 2016 · 1 min read
Energy Chart Pack Speculation fuels oil price rally The possibility of a new deal between OPEC and some major non-OPEC oil producers to limit supply in September has seen the oil price surge by about 20% this month. However, prices have already started... 31st August 2016 · 1 min read
Europe Data Response Norwegian GDP (Q2) The hit to Norway’s GDP growth from lower oil prices appears to be fading. Nevertheless, with growth still fairly slow and inflation set to fall sharply, we still expect the Norges Bank to loosen... 31st August 2016 · 1 min read
Industrial Metals Update Subdued demand bolsters stocks The big news in the last month has been a sharp move up in exchange stocks of copper and a renewed slump in tin inventories. However, the bigger picture is that exchange stocks of metals have not... 31st August 2016 · 1 min read
Industrial Metals Update Higher zinc prices could prove self-defeating The zinc market has tightened sharply this year mostly owing to mine closures and production cutbacks. While we expect the market to move deeper into deficit next year, we think that there is an... 30th August 2016 · 1 min read
Latin America Data Response Chile Retail Sales, Ind. Prod. & Copper Prod. (Jul.) July’s activity data were slightly better than the dire outturns in May and June, but,on balance, they still suggest the economy remained weak at the start of Q3. 30th August 2016 · 1 min read
Commodities Weekly Focus shifts to US payrolls Hawkish comments by some Fed officials and a slight strengthening of the US dollar ahead of Janet Yellen’s speech at Jackson Hole on Friday weighed on the prices of most commodities over the past week... 26th August 2016 · 1 min read
Energy Watch What does the rest of the year hold in store for oil prices? Oil prices are now back at around $50 per barrel (for Brent) but they have been volatile over the last few months. Speculation about a deal to freeze output, high stocks and outages in production have... 25th August 2016 · 1 min read
Metals Data Response China and India’s gold imports (Jul.) China’s gold imports resumed their upward trend last month. In contrast, India’s demand remained subdued and this weakness probably has persisted through August. That said, we expect demand from India... 25th August 2016 · 1 min read
Industrial Metals Update EU trade deal unlikely to revive Indonesia’s tin exports Some have argued that a new trade deal between the EU and Indonesia may arrest the decline in the latter’s exports of tin. However, structural issues constraining tin exports mean that it is unlikely... 25th August 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report (24th Aug. 16) US crude oil and gasoline inventories rose last week, despite demand remaining relatively strong and production falling. 24th August 2016 · 1 min read
Asia Chart Pack More good news for Indonesia, but problems lie ahead The past month has given investors more reasons to be optimistic on the outlook for Indonesia’s economy. The first piece of good news came in late July when it was announced that the highly-respected... 24th August 2016 · 1 min read
Industrial Metals Update China’s metals imports dip in July China’s metals imports fell last month. This was not totally unexpected as the strength of imports earlier in the year had seemed at odds with relatively subdued underlying demand. Higher prices for... 24th August 2016 · 1 min read
Commodities Update Investors turn positive on oil The recent rally in the oil price has been fuelled by speculation that output will be curtailed and, as such, may lose steam if no deal is forthcoming. Meanwhile, the combination of a somewhat weaker... 23rd August 2016 · 1 min read
