Metals Outlook More weakness ahead for metals The prices of most metals have plummeted over the past few months, in large part reflecting the appreciation of the US dollar. But negative investor sentiment exacerbated the moves down in prices... 3rd August 2018 · 1 min read
Commodities Chart Pack Prices wobble on demand concerns Commodity prices dropped in the first half of July, despite a slight depreciation of the US dollar. Concerns about trade tensions were the main reason behind the falls. Lower trade volumes would lead... 1st August 2018 · 1 min read
Commodities Update China’s PMIs point to subdued commodities demand The latest falls in China’s PMI readings underpin our view that China’s economy is entering a softer patch, which is likely to prevent any significant rebound in commodity prices in the coming months. 1st August 2018 · 1 min read
Metals Data Response Global Steel Production (Jun.) World Steel Association (WSA) data showed a 5.8% y/y increase in global steel production in June, driven by higher output in China, India and Japan. We expect this trend to continue over the coming... 26th July 2018 · 1 min read
Commodities Weekly Trade tensions likely to continue to weigh on prices There were further falls in most commodity prices this week as concerns about the negative impact on demand of heightened protectionism dampened investor sentiment. With Donald Trump threatening that... 20th July 2018 · 1 min read
Metals Data Response Global Aluminium Production (Jun.) Global aluminium output was down by nearly 3% y/y in June, owing to lower Chinese production and outages in Canada and Brazil. We think that supply will pick up in the third quarter – ahead of China’s... 20th July 2018 · 1 min read
Metals Watch Is the sell-off in industrial metals overdone? Trade tensions between the US and China have escalated further in recent weeks, prompting sharp declines in the prices of industrial metals. In this Metals Watch we look at the reasons why metals... 13th July 2018 · 1 min read
Industrial Metals Update Rising protectionism poses a real threat to cobalt Profit-taking and deteriorating investor sentiment were the main drivers of the recent fall in the price of cobalt. As such, for now, we are sticking with our end-year forecast of $100,000 per tonne... 10th July 2018 · 1 min read
Metals Chart Pack Trade war fears prompt metals sell-off Metals prices were caught up in the general market sell-off following the ramping up of tensions between the US and China in June. (See Chart.) Signs of softer economic growth in China also... 4th July 2018 · 1 min read
Commodities Chart Pack Rising protectionism drags on commodity prices Overview – Most commodity prices fell in June, depressed by escalating trade tensions and a stronger US dollar. Energy prices were the main exception. 2nd July 2018 · 1 min read
Commodities Update China’s PMIs signal weaker demand China’s unofficial and official manufacturing PMIs point to a somewhat softer economy in June. We expect further weakness ahead, which will continue to weigh on the prices of most commodities. 2nd July 2018 · 1 min read
Metals Data Response Global Steel Production (May) World Steel Association (WSA) data showed a 6.6% y/y increase in global steel production in May, driven by higher output in China, India, Japan and the US. We expect this trend to continue over the... 25th June 2018 · 1 min read
Commodities Weekly OPEC: Will they, won’t they? Most commodity prices fell sharply this week on concerns that the rise in trade tensions between the US and China could spiral into a full-blown trade war. There were particularly sharp drops in the... 22nd June 2018 · 1 min read
Industrial Metals Update Prices to fall further The prices of industrial metals have been caught up in the general market sell-off following the ramping up of trade tensions between the US and China. We expect prices to continue to trend lower over... 21st June 2018 · 1 min read
Metals Data Response Global Aluminium Production (May) Global aluminium output ticked up in May, driven by higher production in Asia ex-China and the GCC. We expect growth in output to accelerate over the coming months as higher prices and the prospect of... 20th June 2018 · 1 min read
Industrial Metals Update Copper rally won’t last The ongoing wage negotiations at several copper mines are likely to keep prices well supported in the short term. However, we think that growing supply and only subdued demand will weigh on copper... 12th June 2018 · 1 min read
