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
Metals Watch What can LME stocks tell us about the aluminium market? In this Metals & Mining Watch , we peer into the murky world of aluminium stocks on the LME. We ask whether LME stocks data are, and can expected to be, reliable indicators of the economic drivers... 1st April 2016 · 1 min read
Industrial Metals Update Fundamentals will eventually underpin copper price rise The rally in copper prices since mid-January has been flattered by a weaker dollar and improved investor sentiment. However, we think a more sustainable recovery in the price will happen later in the... 29th March 2016 · 1 min read
Industrial Metals Update China’s REE exports prove resilient The individual breakdown of China’s total rare earth element (REE) exports shows that exports of most REEs continued to grow strongly in the first two months of this year. 29th March 2016 · 1 min read
Commodities Weekly Markets pause for a reality check Industrial commodity prices have typically eased back in the past week in sympathy with other assets, as markets have reassessed the outlook for US interest rates and the dollar. In particular,... 24th March 2016 · 1 min read
Commodities Update Key commodity prices set for further gains Followers of our relatively upbeat research since January may not be surprised to hear that we expect many commodity prices to rally further. (See our quarterly Commodities Analyst, “Oil to lead a... 23rd March 2016 · 1 min read
Industrial Metals Update Too far, too fast for Chinese steel prices Chinese steel prices have surged recently but we think they are unlikely to hold on to their recent gains, as the underlying fundamentals remain weak. Although we expect growth in steel usage to turn... 23rd March 2016 · 1 min read
