Metals Watch Has the rally in zinc prices got further to go? In recent years, zinc has periodically been a favourite of investors, based on the premise of falling supply as a result of mine closures. However, earlier price rallies have fizzled out, primarily... 26th April 2016 · 1 min read
Commodities Weekly Investor enthusiasm drives prices higher The prices of almost all commodities have risen this week, fuelled by the ongoing improvement in investor sentiment and renewed weakness in the US dollar. The rally in oil prices was perhaps somewhat... 22nd April 2016 · 1 min read
Industrial Metals Update A strong first quarter for China’s metals imports China’s metals imports remained high in March, reflecting the general optimism about a pick-up in demand. However, recent price rises and signs of stockpiling in China suggest that import growth may... 21st April 2016 · 1 min read
Metals Data Response Global Aluminium Production (Mar.) According to the International Aluminium Institute, global primary aluminium output grew by 0.7% y/y in March, although it was down on the same quarter a year earlier. 20th April 2016 · 1 min read
Industrial Metals Update Ditching of Chinese subsidies unlikely to rein in exports China’s decision to scrap its export subsidy programme will do little to help overcome huge surpluses of aluminium and steel, or to allay concerns about it dumping excess production on world markets... 20th April 2016 · 1 min read
Metals Data Response Global Steel Production (Mar.) World Steel Association (WSA) data, released today, show that global steel output fell by 0.5% year on year in March, up from declines of 3.3% and 7.1% in January and February respectively. That said... 20th April 2016 · 1 min read
Commodities Update Prices rebound in April Having wobbled in late March, most commodity prices have rebounded of late. Stronger economic data for March out of China has assuaged some concerns about demand and more than offset the negative... 19th April 2016 · 1 min read
Commodities Update Chinese data point to robust commodity demand First-quarter Chinese economic data suggest a cyclical rebound is underway, driven by state-sector spending. The data justify some of the recent strength in commodity prices and underpin our forecast... 15th April 2016 · 1 min read
Industrial Metals Update Stock movements more related to supply than demand With large divergences in stock movements between individual metals, it is unlikely that industrial demand has been the main driver. Instead, trends in inventories appear to have had a better... 14th April 2016 · 1 min read
Industrial Metals Update Still some way off from sustainable aluminium price rally Global aluminium output fell again in February, according to the International Aluminium Institute (IAI). But smelter restarts in a still over-supplied market could limit the scope for price increases... 13th April 2016 · 1 min read
Commodities Update A strong quarter for China’s industrial commodity imports China’s commodity import volumes rose in March, rounding off a strong quarter for import demand. However, local stocks have been building, suggesting that we will need to see a pick-up in activity if... 13th April 2016 · 1 min read
Industrial Metals Update The tin rally is all about supply The price of tin has rallied by more than other metals prices since mid-January. We think this reflects the tight supply picture and low stocks. However, with growth in demand likely to remain subdued... 12th April 2016 · 1 min read
Commodities Weekly Oil prices surge ahead of Doha meeting Commodity prices had a mixed week, despite support from further softness in the US dollar. In particular, key industrial metals dropped back, consistent with our view that the earlier surge was... 8th April 2016 · 1 min read
Industrial Metals Update Zinc demand looks promising The price of zinc has rallied strongly, and by more than other metals, reflecting the prospect of lower supply. But we think that the demand outlook is also positive, which will add further support to... 7th April 2016 · 1 min read
Metals Chart Pack Metals price rally may prove unsustainable, for now The prices of most industrial metals rose strongly for much of March, but eased back towards the end of the month and in early April. Indeed, a weaker US dollar (on lower market expectations for US... 5th April 2016 · 1 min read
Commodities Weekly Commodities hit by strong US data and Saudi comments Markets began the second quarter on Friday on a sour note, with sentiment undermined both by a weak Tankan survey in Japan and, rather perversely, by another robust Employment Report and a buoyant ISM... 1st April 2016 · 1 min read
