Industrial Metals Update Investor gloom set to deepen Industrial metals prices have slid in recent weeks and despite investor positions approaching a three-year trough, we think that further investor selling will contribute to even lower metals prices... 14th May 2019 · 1 min read
Industrial Metals Update Higher tariffs do not change our already bearish view A total breakdown in US-China trade talks would undoubtedly be a further negative for the prices of most industrial metals. However, regardless of the latest tariff increase, we had already expected a... 10th May 2019 · 1 min read
Australia & New Zealand Economics Focus What does slower growth in China mean for Australia? China’s slower housing and infrastructure investment growth will weigh on demand for iron ore and metallurgical coal. Further increases in services exports are unlikely to offset that drag. The coming... 6th May 2019 · 1 min read
Metals Outlook Risk appetite to be the key driver of prices Our forecast that global economic growth will stay lower for longer suggests that the recent revival in industrial metals prices will prove short-lived. However, the prices of gold and silver could... 30th April 2019 · 1 min read
Metals Data Response Global Steel Production (Mar.) The strength of global steel production in the first quarter looks unsustainable given that we think global economic activity will remain subdued. What’s more, high iron ore prices are undermining... 29th April 2019 · 1 min read
Industrial Metals Update LME lead prices to fall, but still outperform The price of lead has been lower on the LME than on the Shanghai exchange for more than a year now and it has fallen this year while the prices of other metals, most notably its sister metal zinc... 25th April 2019 · 1 min read
India Chart Pack Election crosses halfway stage India’s mammoth general election that began earlier this month is now past the halfway stage. Votes have been cast in 302 out of the country’s 543 constituencies, with four days earmarked for further... 24th April 2019 · 1 min read
Metals Data Response Global Aluminium Production (Mar.) Power problems and weak prices have held back aluminium output so far this year. But we think that rising capacity and lower raw material costs will cause production to rise in the coming months. 23rd April 2019 · 1 min read
Commodities Outlook Short-term pain, long-term gain We think that the prices of most commodities will fall this year as global economic growth remains weak and investor risk aversion returns. While policy in China has become more accommodative, it is... 17th April 2019 · 1 min read
Industrial Metals Update Copper rally: too far, too soon Copper prices have approached 10-month highs recently on supply woes and optimism that growth in China will rebound, but we think that this rally will reverse as China’s recovery falls short of... 15th April 2019 · 1 min read
Commodities Weekly Waiting for the next big move It has been a relatively quiet week in most commodity markets, except for energy. Oil prices rose again, to over $70 per barrel for Brent, on news of military operations in Libya. However, we think at... 12th April 2019 · 1 min read
Industrial Metals Update Chinese steel prices could drop sharply We expect the Chinese price of steel rebar to drop by more than a fifth this year as a cooling property sector dents demand. 9th April 2019 · 1 min read
Industrial Metals Update Production woes delay iron ore price drop A tropical cyclone and a burst dam will mean lower iron ore output from the three largest producers this year, which we believe will swing the market into a deficit. In our view, this deficit will... 5th April 2019 · 1 min read
Metals Chart Pack Supply concerns provide price support, for now The prices of industrial metals generally held on to year-to-date gains in March, due to supply fears coupled with investor optimism around a successful resolution to US-China trade talks. Even if a... 3rd April 2019 · 1 min read
Industrial Metals Update Zinc prices to be blown off course While dwindling exchange stocks have helped to boost the price of zinc in recent months, we think that prices are set to drop appreciably later this year as increased mine output finally starts to... 27th March 2019 · 1 min read
Metals Data Response Global Steel Production (Feb.) Today’s data show that rising Chinese output led to robust global production growth in February, but we think weak demand and high iron ore prices mean that steel mills will cut output sooner rather... 26th March 2019 · 1 min read
