Commodities Weekly Demand fears in the driving seat, for now Most commodity prices fell this week as global monetary tightening and fears about economic growth intensified. The high June inflation reading in the US nails on another large rate hike at the FOMC’s... 15th July 2022 · 6 mins read
Industrial Metals Update What to make of the price slump As metals prices soared early in the year, we cautioned that they would end the year lower owing to soft demand growth. Prices have since plunged. Now, we think they may have a little further to fall... 15th July 2022 · 4 mins read
Asia Economics Weekly Asian central banks turn hawkish Asian policymakers turned decidedly more hawkish this week, with the central banks of Korea, Singapore and the Philippines, all tightening monetary policy aggressively. Further hikes across the region... 15th July 2022 · 5 mins read
Energy Data Response US Weekly Petroleum Status Report Total crude stocks fell again, mainly due to ongoing sales from the strategic reserve. That said, the big news was hefty builds in petroleum product stocks, suggesting that high prices are finally... 13th July 2022 · 2 mins read
Commodities Update China’s commodities imports may be close to a trough Commodity import volumes were generally weak in June. We think some of this reflects the lingering impact of lockdowns on demand, but it also points to subdued activity in heavy industry and... 13th July 2022 · 2 mins read
OPEC Watch OPEC Monthly Oil Market Report (July) OPEC unveiled its oil market forecasts for 2023 in its monthly report today. OPEC is more bullish than us on demand, forecasting an increase of 2.7m barrels per day. But even though it is also quite... 12th July 2022 · 3 mins read
Capital Daily We think the gold price has further to fall While the price of gold has fallen sharply over the past couple of months, including another small decline today, it still appears much higher than its typically strong inverse relationship with the... 11th July 2022 · 4 mins read
Energy Update Strong demand for US natural gas to keep prices high After a period of extreme volatility, we expect the price of US natural gas to edge higher in the remainder of this year. Together, a rise in LNG exports and a pick-up in US consumption this winter... 11th July 2022 · 4 mins read
Africa Economics Focus Why is Nigeria struggling while oil prices are so high? Amidst sky-high oil prices, a stream of downbeat comments from Nigerian government officials on the state of the economy may seem mind-boggling. In this Focus, we outline what’s behind the country’s... 11th July 2022 · 13 mins read
Commodities Weekly Strong US dollar to remain a headwind for prices There was no clear direction in commodity prices this week, even within the same types of commodities. The takeaway is that commodity prices were dancing to their own tunes. Take energy, for example... 8th July 2022 · 6 mins read
Energy Data Response US Weekly Petroleum Status Report US commercial crude stocks rose owing to a fall in net exports and lower inputs to refineries. For now, implied product demand remains in line with its seasonal norm, but we expect demand to be soft... 7th July 2022 · 2 mins read
India Economic Outlook More frontloading to come Strong economic growth and surging inflation have prompted the RBI to kick-start its hiking cycle and we think the central bank will continue to frontload policy tightening. In all, we think the repo... 7th July 2022 · 19 mins read
Australia & New Zealand Economic Outlook Housing downturn raises recession risks With inflation rising even further than we had anticipated, both the RBNZ and the RBA will slam harder on the brakes than most anticipate. We expect policy rates to peak around 3.5% in both countries... 7th July 2022 · 25 mins read
Commodities Chart Pack Softer demand, but supply to remain tight Non-energy commodities prices generally fell in June on the back of concerns about the outlook for demand amid global monetary tightening and slower economic growth. Energy prices may also fall a... 6th July 2022 · 13 mins read
Capital Daily China’s stock market and metals prices may continue to diverge We think that the recent divergence between the fortunes of China’s stock market and the prices of most industrial metals will continue, albeit with the former seeing renewed falls and the latter... 4th July 2022 · 5 mins read
Commodities Weekly Demand concerns to weigh on prices for a while yet Prices struggled to find direction this week as concerns about demand deepened at a time of still constrained supply of many commodities. The price of Brent crude fell sharply on Thursday in response... 1st July 2022 · 5 mins read
