Commodities Update Risk of tighter agricultural export restrictions growing The recent tightening of export restrictions has been limiting the supply of staple agricultural commodities available to global markets and pushing up prices. In light of the ban on wheat exports... 23rd May 2022 · 3 mins read
Commodities Weekly Easing of lockdown lifts metals prices, for now… The prices of many industrial metals (IM) picked up this week on news of an easing of COVID-19 restrictions in China. However, we think weak demand and improved supply in China will send IM prices... 20th May 2022 · 6 mins read
Commodities Update Auto sector woes to weigh on natural rubber prices After a post-pandemic rebound in 2021, we expect growth in global demand for natural rubber (NR) to slow this year in tandem with a downturn in industrial activity, notably in the NR-intensive auto... 18th May 2022 · 4 mins read
Commodities Weekly Energy prices no longer appear to be “lifting all boats” Most commodity prices fell this week amid a general sell-off in risky assets and a stronger US dollar. That said, we think the days of higher energy prices leading to an all-encompassing rally in... 13th May 2022 · 6 mins read
Commodities Weekly Demand and supply pull prices in opposing directions Energy prices continue to be pummelled by upward pressure related to fears of supply shortages and downward pressure from signs of slower economic growth, tighter monetary policy and a stronger US... 6th May 2022 · 6 mins read
Commodities Update Not just Indonesia export ban boosting palm oil prices We expect Indonesia’s latest ban on palm oil exports to be short-lived, but constrained supply and the high prices of other edible oils, coupled with elevated oil prices, will support the price of... 5th May 2022 · 3 mins read
Commodities Prices to stay high for longer The war in Ukraine and its negative impact on commodities supply has prompted us to revise up our forecasts for the prices of most commodities in 2022. Regardless of the outcome of the war, we think... 29th April 2022 · 40 mins read
Commodities Weekly Russia’s rubles demand poses upside risk to gas prices Russia’s monopoly exporter of natural gas, Gazprom, suspended gas deliveries to Poland and Bulgaria this week because they refused to pay for Russian gas in rubles. There is some confusion about... 29th April 2022 · 6 mins read
Commodities Weekly European growth to drag on prices It has been an unusually quiet week for commodities, with less volatility than we have come to expect. The war in Ukraine continues to provide possible stresses for supply but, for now at least, it... 22nd April 2022 · 6 mins read
Commodities Update Softer housing demand to bring down US lumber price A cooling US housing market will weigh on lumber prices, despite disruption to imports from Canada. We expect the lumber price to continue its downward trend, but to remain well above its 10-year... 21st April 2022 · 4 mins read
Commodities Weekly China only off-the-radar for now The war in Ukraine continued to dominate headlines, and commodity price movements, this week as peace talks fell apart and sent energy prices up sharply. However, at the same time, there are further... 14th April 2022 · 7 mins read
India Economic Outlook Inflation will force the RBI’s hand The surge in global commodity prices will take a little gloss off India’s economic recovery this year but we still expect stronger GDP growth than the consensus. Higher commodity prices will also keep... 13th April 2022 · 19 mins read
Commodities Weekly Prices to remain buffeted by headwinds and tailwinds Last week, we suggested that the downside risks to prices were building, and these came to the fore in the past week with particularly hawkish US Fed minutes published on Wednesday and ongoing COVID... 8th April 2022 · 6 mins read
Commodities Chart Pack War in Ukraine to continue to dictate prices for now Commodity prices remain extremely volatile owing to the uncertainty stemming from the ongoing war in Ukraine, and we doubt that they will find a clear direction anytime soon. However, assuming the war... 5th April 2022 · 12 mins read
Commodities Weekly Downside risks to prices are building Signs of weaker demand in China in the latest PMI data and the announcement that the US will sell off a large chunk of its strategic oil reserve suggest that the downside risks to commodity prices are... 1st April 2022 · 6 mins read
Commodities Watch Grain prices to stay historically high Grains prices have skyrocketed since the Russian invasion of Ukraine as fears of supply disruption have intensified and energy costs, which feed into agricultural production costs, have soared. In... 31st March 2022 · 8 mins read
