Metals Focus Shining a light on aluminium demand We have created a Capital Economics Demand Proxy (DP) to enhance our insight into the demand fundamentals of the aluminium market and to inform our near-term price forecasts. 22nd July 2016 · 1 min read
India Chart Pack Capital injections too small to revive banking sector The government’s announcement this week that it will inject more capital into local banks is a positive step, but the amount is still too limited to revive the ailing sector. 22nd July 2016 · 1 min read
Commodities Weekly Dollar strength takes some steam out of prices With a few exceptions, the prices of industrial commodities have taken another hit this week, pressured by profit taking and renewed strength in the US dollar. Meanwhile, the ECB’s decision to keep... 22nd July 2016 · 1 min read
Precious Metals Update Further upside for gold and silver prices We expect a combination of looser monetary policy in the euro-zone, the UK and Japan and building inflationary pressures in the US to boost the prices of gold and silver over the next year or so... 21st July 2016 · 1 min read
Energy Watch Glut of oil products to weigh on demand for crude The tightening of the oil market since the start of the year has been the main driver of the price rally over the last few months. However, there are valid concerns that stocks of oil products are... 21st July 2016 · 1 min read
Industrial Metals Update Higher prices could dampen China’s metals imports June was another strong month for China’s metals imports. In some cases, volumes dipped, but this may have been a response to rising prices rather than a sign of weaker underlying demand. 21st July 2016 · 1 min read
Frontier Markets Wrap Low oil prices hitting home Oil prices have been low for some time now, but the past month has brought further evidence that this new reality is starting to hit home in energy-exporting frontier markets. Recently-released data... 21st July 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report (20th Jul. 16) Higher demand from refineries helped to pull down crude stocks last week. But greater production of gasoline caused motor fuel inventories to rise. 20th July 2016 · 1 min read
Metals Data Response Global Aluminium Production (Jun.) According to the International Aluminium Institute, global primary aluminium output declined by 1.2% y/y. However, daily average production continues to recover in response to rising prices. 20th July 2016 · 1 min read
Commodities Update Commodities benefit from greater risk appetite The metals, both industrial and precious, have been the star performers this month as investor sentiment improved. Meanwhile, the return of supply that had been lost to unanticipated outages weighed... 19th July 2016 · 1 min read
Industrial Metals Update The nickel price rally could lose steam The price of nickel has surged in recent weeks, primarily on concerns about lower supply due to greater regulation of ore mining in the Philippines. However, stocks remain high and demand is subdued... 18th July 2016 · 1 min read
Commodities Weekly Hopes of policy stimulus boost industrial metals The prices of riskier assets, including industrial metals as well as equities, have been boosted by hopes of additional fiscal and monetary support to mitigate any global fallout from the UK’s vote to... 15th July 2016 · 1 min read
Metals Data Response South Africa’s Mine Production (May) South Africa’s overall mine production remained subdued in May, but PGM output grew strongly. This perhaps reflects producers building up their stocks in preparation for the wage negotiations with... 14th July 2016 · 1 min read
Africa Economics Update South Africa: Economy probably dodged recession in Q2 Activity data for May suggest that South Africa’s economy has improved after contracting in Q1. We expect that the economy returned to growth in Q2, narrowly missing a technical recession. 14th July 2016 · 1 min read
Middle East & North Africa Economics Update Strains in Saudi Arabia’s balance of payments starting to ease Saudi Arabia’s current account position deteriorated at the start of this year due to lower oil prices, but even taking this into account the underlying balance of payments position improved. We... 14th July 2016 · 1 min read
Latin America Economics Focus Making the most of weaker currencies? The weakening of most Latin American currencies has helped the region’s economies adjust to the terms of trade shock caused by the drop in global commodity prices. But while weaker currencies mean... 13th July 2016 · 1 min read
