Industrial Metals Update Tin to outperform other base metals this year Tin usage should pick up in 2016, led by a recovery in the global electronics sector. Given constrained supply, the price of tin could rally strongly. 5th February 2016 · 1 min read
Commodities Weekly Commodity prices rally on dollar weakness A visitor from Mars might have been confused by the responses of commodity markets to US economic data in the past few days. Prices jumped in dollar terms after the publication on Wednesday of a weak... 5th February 2016 · 1 min read
Metals Data Response US silver imports and exports (Nov.) US exports of semi-manufactured silver remained subdued in November, consistent with the weakness of global industrial demand at the time. In contrast, investors continued to buy into falling prices... 5th February 2016 · 1 min read
Commodities Update Be wary of currency-driven swings in commodity prices The dollar prices of many commodities have been boosted this week by declines in the value of the US currency. Any recovery may be good news for producers regardless of the underlying cause... 5th February 2016 · 1 min read
Energy Update Focus on Brent hides greater weakness in OPEC’s prices The recent sharp falls and partial recovery in the price of Brent crude oil have grabbed the headlines. But focusing on Brent (or the traditional US benchmark WTI) alone doesn’t tell the whole story... 5th February 2016 · 1 min read
Energy Watch Is US oil production falling? US oil production has been surprisingly resilient since oil prices collapsed in 2014 as companies have slashed costs and jobs and concentrated on only the most productive sweet spots. In this Energy... 4th February 2016 · 1 min read
Metals Chart Pack Some respite for prices in late January The prices of industrial metals fell further in early January, unsettled by a renewed collapse in the crude oil price and by uncertainty surrounding exchange rate policy in China. However, sentiment... 4th February 2016 · 1 min read
Commodities Update Diverging fortunes kick start agriculturals in 2016 The S&P GSCI Agriculture index has started the new year where it left the last: down, falling by close to 1%. However, the beginning of 2016 has seen a divergence in the performance of the prices of... 4th February 2016 · 1 min read
Metals Chart Pack Gold shines on global woes Precious metals’ performances continued to diverge in January. The prices of gold and silver rallied on the back of safe-haven demand following the recent turmoil in global equity markets. In contrast... 3rd February 2016 · 1 min read
Precious Metals Update Why isn’t gold doing even better? The further gains in the price of gold today (to a high of $1,140 per ounce) are consistent with the relatively positive view we have had on the precious metal for some time. However, we are in no... 3rd February 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report Stocks of both crude oil and gasoline jumped again last week, primarily due to an increase in imports of crude and weak demand for products respectively. However, the weather probably bears at least... 3rd February 2016 · 1 min read
Emerging Europe Data Response Turkey CPI (Jan.) Stronger-than-expected Turkish inflation in January, of 9.6% y/y, was partly driven by administered price hikes and what is likely to be a temporary unwinding of the impact of the decline in global... 3rd February 2016 · 1 min read
Commodities Update Taking stock of the fall in US winter wheat plantings The release of the USDA’s winter wheat seeding report, the agency’s first estimate of US winter wheat acreage, points to the possibility of a fall in production this year, not just for winter wheat... 2nd February 2016 · 1 min read
Commodities Update Another headwind for wheat prices if Russia lowers export tax Russian ministers are set to meet on Wednesday to decide whether or not to remove the wheat export tax. We think the removal of the tax would put more downward pressure on wheat prices, although the... 2nd February 2016 · 1 min read
Global Markets Update Mixed outlook for the major commodity currencies The recovery in commodity prices over the last week or so has eased the selling pressure on the dollars of Australia, New Zealand and Canada since the start of the year. However, we wouldn’t be... 2nd February 2016 · 1 min read
Commodities Chart Pack Oil drags commodities lower, but gold shines It was a poor start to the year for commodities with the prices of energy, industrial metals and agricultural commodities all falling owing to persistent concerns about Chinese demand and continued... 1st February 2016 · 1 min read
