Metals Watch Are industrial metals oversold? We had always expected metals prices to decline this year on the back of a slowdown in China’s economy. However, even we have been surprised by the scale of the falls in prices, which we think have... 12th September 2018 · 1 min read
Industrial Metals Update Re-visiting the iron ore forecast Previously volatile iron ore prices have barely moved in the last six months. Despite ample supply, strong growth in China’s steel production supported prices. That said, we expect steel output to... 5th September 2018 · 1 min read
Metals Chart Pack Investors turn even more bearish on metals For the most part, metals prices declined in August in the wake of escalating trade tensions and signs that economic growth in China is losing momentum. Negative investor sentiment exacerbated the... 4th September 2018 · 1 min read
Commodities Chart Pack Oil bucks the negative trend Most commodity prices fell in August on the back of ongoing global trade tensions and worries over an economic slowdown in China. 3rd September 2018 · 1 min read
Commodities Update China’s PMIs offer little support to prices China’s PMI readings for August confirm our view that the economy is slowing as a result of subdued domestic demand. Although some policy easing is underway, it will be some time before this... 3rd September 2018 · 1 min read
Commodities Weekly Supply concerns boost oil prices It was another good week for the price of oil as concerns about lower Iranian output as a result of US sanctions continued to lift prices. In contrast, a ratcheting up of the US rhetoric on... 31st August 2018 · 1 min read
Industrial Metals Update Surging steel output to lead to lower prices World Steel Association data, released earlier this week, showed a 5.8% y/y increase in global steel output in July, driven by higher production in China, India, the US and the EU. We expect this... 30th August 2018 · 1 min read
Commodities Weekly Oil jumps on supply concerns The price of Brent rose by around 6% this week, reflecting concerns about the negative impact of US sanctions on Iran’s production. The mid-week trade talks between the US and China were inconclusive... 24th August 2018 · 1 min read
Industrial Metals Update Lower supply to support aluminium prices next year After surging to a seven-year high in mid-April on the back of the US Treasury’s decision to impose sanctions on Russian aluminium producer, Rusal, the price of aluminium has since collapsed. While we... 23rd August 2018 · 1 min read
Metals Data Response Global Aluminium Production (Jul.) Global aluminium output was up by nearly 3% y/y in July, owing to higher production in China and India. We had warned that this could happen as the prospect of China’s anti-pollution winter cuts and... 20th August 2018 · 1 min read
Commodities Weekly No reprieve in sight There was no respite for commodities prices this week. Industrial commodities took their cues from the downbeat China activity data which fuelled concerns about demand. At the same time, a stronger... 17th August 2018 · 1 min read
Industrial Metals Update Has copper further to fall? While investor sentiment is likely to remain the main driver of copper prices this year, we expect declining supply and growing demand from the green energy sector to give a boost to prices in 2019... 16th August 2018 · 1 min read
Industrial Metals Update China Industrial Metals Demand & Supply Monitor (Q2) China’s industrial activity held up well in the first half of 2018 but there are now clear signs that the economy is losing momentum, which is likely to prevent any significant gains in industrial... 8th August 2018 · 1 min read
Metals Chart Pack Sentiment towards metals sours Metals prices continued to decline in July on the back of rising trade tensions, concerns about a possible downturn in demand and a deterioration in investor sentiment. We expect prices to remain weak... 7th August 2018 · 1 min read
Global Economics Update Should we worry about the slump in copper prices? The slide in the price of copper in the past few weeks has added to concerns about the health of the world economy. But while it may provide further evidence that China’s economy is slowing, we do not... 6th August 2018 · 1 min read
Commodities Weekly No relief for prices Most industrial and energy commodity prices fell again this week as mounting protectionism and China’s subdued PMI data for July raised concerns about the outlook for commodities demand. That said... 3rd August 2018 · 1 min read
