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
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
