Commodities Chart Pack Good news for industrials Clear signs of a cyclical pick-up in China boosted the price of the more industrial commodities last month and more than offset the negative impact of US dollar appreciation. In contrast, the price of... 1st November 2016 · 1 min read
Commodities Weekly Commodities looking for direction It was a relatively quiet week in commodity markets but the price of oil took a tumble as investors swung round to our more sceptical view on OPEC’s ability to reach an agreement on curbing production... 28th October 2016 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Sep.) Although the broad measure of China’s industrial production eased back in September, metals-intensive sectors continued to do well. However, we would caution that the recent rallies in the prices of... 27th October 2016 · 1 min read
Industrial Metals Update Another weak month for China’s metals imports China’s metals imports remained weak in September as higher prices, supply constraints and stronger domestic output weighed on volumes. 25th October 2016 · 1 min read
Industrial Metals Update A bright future for cobalt prices We have been positive on the outlook for cobalt prices for some time now but, if anything, prospects are continuing to improve. Ongoing concerns over artisanal mining in the DRC and strong demand from... 25th October 2016 · 1 min read
India Chart Pack Core price pressures remain elevated Much of the focus both before and after the RBI’s decision to cut the repo rate by 25bp (to 6.25%) in early October has been on the sharp fall in headline inflation over the past couple of months. But... 25th October 2016 · 1 min read
Commodities Weekly Commodities pause for breath Most commodity prices were little changed this week despite strong activity data from China. Indeed, the only industrial metals to record gains were tin and lead whose prices were buoyed by ongoing... 21st October 2016 · 1 min read
Metals Data Response Global Steel Production (Sep.) World Steel Association (WSA) data, released this afternoon, show a 2% y/y rise in global steel output in September, slightly stronger than the 1.9% y/y growth a month earlier. After a weak start to... 20th October 2016 · 1 min read
Metals Data Response Global Aluminium Production (Sep.) According to the International Aluminium Institute (IAI), global primary aluminium output rose by 1.2% y/y in September. However, in a reversal of the trend that has prevailed for much of this year... 20th October 2016 · 1 min read
Industrial Metals Update Fed drives a wedge between metals prices The performance of industrial and precious metals prices has diverged in the last month. Industrial metals have benefited from more positive economic data out of China while precious metals have... 20th October 2016 · 1 min read
Commodities Update Industrials looking vulnerable to a turn in sentiment Commodity prices have generally risen in the last month, despite a further appreciation of the US dollar. That said, the likelihood of a US interest rate hike before end-2016 weighed on precious... 19th October 2016 · 1 min read
Commodities Outlook Near-term risks largely on the downside The recent more positive tone in commodity markets has been helped by a number of tailwinds that may be about to fade, if not reverse. The boost to Chinese demand from policy stimulus now already... 18th October 2016 · 1 min read
Commodities Weekly US dollar appreciation constrains prices The prices of most industrial commodities fell this week, as the US dollar continued to appreciate. Doubts about whether OPEC’s plans for an output quota will lead to any meaningful cuts to supply... 14th October 2016 · 1 min read
Industrial Metals Update Recent fall in stocks suggests metals markets are tightening Exchange stocks of metals have fallen across the board over the past month. In most cases, dwindling mine supply, rather than strong demand, was responsible for the decline. While there might well be... 13th October 2016 · 1 min read
Metals Data Response South Africa’s Mine Production (Aug. 16) South Africa’s total mine production continued to fall in August, but PGM output recovered as miners took advantage of higher prices. Looking ahead, we think there is a risk of supply disruptions in... 13th October 2016 · 1 min read
Commodities Update China’s September commodity imports hold up rather well A renewed contraction in China’s import bill grabbed the headlines this morning, but China’s commodity import volumes were actually surprisingly strong last month. 13th October 2016 · 1 min read
