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

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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

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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

Commodities Weekly

China metals demand; EU weighing Russia metals ban

It was generally a positive week for commodity prices and particularly for industrial metals prices. All major industrial metals finished the week higher, seemingly due to some improvement in risk...

26th January 2024 · 4 mins read

Industrial Metals Update

Real metals prices are high and have further to rise

Compared to their pre-pandemic averages, metals prices are high even after adjusting for inflation. We think that as green transition-related demand increases and monetary easing gets underway, real...

25th January 2024 · 4 mins read

Global Economics

Global Economics Shipping Chart Pack (Jan. 2024)

This is a special Global Economics Chart Pack that provides clients with key analysis to make sense of the macro and market impact of the disruptions to maritime shipping. The charts in this document...

25th January 2024 · 1 min read

Middle East & North Africa Economics Update

Could Saudi live with a sustained fall in oil prices?

Saudi Arabia’s government returned to running budget deficits last year and is likely to continue doing so. But these should be easily financed. Oil prices would probably have to fall sharply, to...

23rd January 2024 · 5 mins read

Industrial Metals Update

Global Aluminium Production (Dec. & 2023)

Global aluminium production growth slowed to 2.3% in 2023 from 2.9% in 2022. We think softening output growth in China will cause global growth to fall back again this year.

22nd January 2024 · 2 mins read

Commodities Weekly

LNG frozen out of Red Sea, but gas prices to fall further

Natural gas prices fell sharply this week, despite Qatar's decision to avoid sending LNG tankers through the Red Sea. We think the relative calm in the natural gas market reflects the fact that gas...

19th January 2024 · 4 mins read