Industrial Metals Update Resilient Chinese economy supports prices Industrial metals prices have profited in the last month from relatively upbeat economic data out of China as well as the Fed’s decision not to raise interest rates just yet. We expect China’s economy... 29th September 2016 · 1 min read
Industrial Metals Update What do higher coking coal prices mean for iron ore? The recent doubling of coking coal prices has been cited as good news for the price of iron ore. However, we think quite the contrary. A supply shock has underpinned the rally in coking coal prices... 26th September 2016 · 1 min read
Commodities Weekly Algiers unlikely to be a game-changer For the most part, commodity prices have risen this week, boosted by some weakness in the US dollar. The Fed's decision on Wednesday to keep interest rates on hold weighed on the US currency. That... 23rd September 2016 · 1 min read
Industrial Metals Update China’s metals imports remained subdued in August August was another weak month for China’s metals imports. In some cases, lower supply and higher prices have weighed on import volumes. However, relatively soft underlying demand could have also... 22nd September 2016 · 1 min read
Metals Data Response Global Steel Production (Aug.) 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... 21st September 2016 · 1 min read
Commodities Update Dollar strength weighs on sentiment A stronger dollar, a reduction in risk appetite and a scaling back of expectations that oil producers will actually limit output made it a tough month for most commodities. However, the price of gold... 20th September 2016 · 1 min read
India Economics Update Domestic factors unlikely to cause rupee slump The rupee has been stable against the US dollar in recent months. Looking ahead, suggestions that domestic factors, including calls from within government for a devaluation of the currency and the RBI... 20th September 2016 · 1 min read
Industrial Metals Update China Industrial Metals Output Monitor (Jul./Aug.) Detailed Chinese industrial production figures for August paint a mixed picture of refining activity. While refined copper production was growing strongly, there were sharp downturns in tin and nickel... 20th September 2016 · 1 min read
Metals Data Response Global Aluminium Production (Aug. 16) According to the International Aluminium Institute (IAI), global primary aluminium output fell by 0.2% y/y in August. So far this year, output in the World ex China has risen, while China’s production... 20th September 2016 · 1 min read
Commodities Weekly Attention to return to the Fed The price of oil has taken a hit this week as hopes faded of an OPEC-led agreement between producers to freeze output. However, other industrial commodities performed somewhat better, buoyed by the... 16th September 2016 · 1 min read
Industrial Metals Update Rising stocks weigh on copper prices The ongoing surge in LME copper stocks was the key development last month and contributed to renewed bearish sentiment towards the metal. In contrast, stocks of all the other metals have fallen over... 15th September 2016 · 1 min read
Metals Watch Oversupply to weigh on the price of iron ore Iron ore prices have been on a bit of a rollercoaster this year, rising on waves of optimism about China’s demand, before slipping back on persistent growth in supply. In this Metals Watch, we argue... 14th September 2016 · 1 min read
Industrial Metals Update China Industrial Metals Demand Monitor (Aug.) Metals prices received a boost today as August activity data out of China surprised on the upside. There is now clear evidence that the monetary and fiscal stimulus enacted earlier in the year is... 13th September 2016 · 1 min read
Commodities Weekly A roller-coaster week for oil The price of oil has alternately surged and plunged this week, buffeted by a sharp (but probably temporary) fall in US stocks and speculation about prospects for supply. Indeed, stability in prices... 9th September 2016 · 1 min read
Metals Data Response South Africa’s Mine Production (Jul.) South Africa’s overall mine production remained subdued in July, dragged down by yet another fall in PGM output. However, the profitability of the PGM industry has continued to improve owing to higher... 8th September 2016 · 1 min read
Commodities Update China’s commodity imports bounced back in August After a slowdown in July, growth in China’s commodity import volumes rebounded in August. This was perhaps to be expected as July activity indicators were encouraging and the unofficial manufacturing... 8th September 2016 · 1 min read
