Latin America Data Response Chile Retail Sales, Ind. Prod. & Copper Prod. (Jun.) Activity data from Chile were stronger than expected in June but, as a result of softer figures for April and May, we still think that GDP growth in Q2 will be weaker than in Q1. 30th July 2015 · 1 min read
Commodities Update Investor sentiment towards commodities tanks Broad-based weakness saw industrial commodity price indices slip between mid-June and mid-July. The S&P GSCI agriculture index bucked the trend, although it too has eased back recently. What’s more... 22nd July 2015 · 1 min read
Metals Data Response Global Steel Production (Jun. 15) World Steel Association (WSA) data for June show a 2.4% y/y decline in global steel output, with falls in most of the largest producers. 22nd July 2015 · 1 min read
Industrial Metals Update China's refined nickel imports finally take off Prices may be plumbing new lows, but the detailed Chinese trade data are pointing to some positive trends in metal demand. In particular, the surge in nickel imports in June suggests that the domestic... 21st July 2015 · 1 min read
Metals Data Response Global Aluminium Production (Jun. 15) According to the International Aluminium Institute (IAI), global aluminium production slipped by less than 1% m/m in June, but still grew by over 10% y/y in the first half. However, output in the... 20th July 2015 · 1 min read
Commodities Weekly Commodities struggle as dollar dominates Losers again outweighed winners this week. Oil dropped in anticipation of the easing of sanctions on Iran, although the near-term prospects for prices may depend more on sentiment towards China and... 17th July 2015 · 1 min read
Industrial Metals Update Making the case for tin Tin demand is expected to pick up after a weak start to this year, but the main case for higher tin prices lies in a tightening supply profile. We expect ore exports from Myanmar to slip in the second... 16th July 2015 · 1 min read
Energy Update Iran and the West make a deal, but stumbling blocks remain Today’s announcement of the deal reached between Iran and the West should, eventually, allow Iranian oil exports to return to their previous levels. However, the deal could still be disrupted by... 14th July 2015 · 1 min read
Industrial Metals Update What next for iron ore? After plummeting last week, iron ore prices have stabilised at around $50 per tonne. However, there appears to be little to support prices given that we expect a contraction in China’s steel output... 13th July 2015 · 1 min read
Commodities Weekly Ouch! Commodity investors could be forgiven for a huge sigh of relief that this week is over. The combination of the crisis in Greece and – especially – worries about the fallout from the slump in China’s... 10th July 2015 · 1 min read
Commodities Update China's equity gyrations not such a big deal for commodities The slump in equity prices in China has damaged confidence in global commodity markets, including oil and especially industrial metals. However, we think that the current negativity is overdone. While... 7th July 2015 · 1 min read
Industrial Metals Update Stocks tread water in June Exchange stocks of some base metals are at very low levels and could be a factor boosting prices later in the year. However, stocks of copper and aluminium, in particular, remain high and will act as... 7th July 2015 · 1 min read
Metals Chart Pack Concerns about global growth weigh on prices The S&P GSCI industrial metals index fell for the second consecutive month in June. Persistently subdued Chinese economic data and the risk of a messy Greek default and exit from the euro-zone... 3rd July 2015 · 1 min read
Commodities Chart Pack Grains aside, commodities remain in the doldrums The prices of US grains and soybeans jumped in June on weather-related supply fears, but most other commodities are still becalmed – at best. Industrial metals continued to struggle, despite... 1st July 2015 · 1 min read
Industrial Metals Update The only way is up for nickel prices The price of nickel has fallen by nearly 10% from last Friday, despite early signs of a pick-up in globalnickel demand. Given that we expect supply to become more constrained in the second half of... 30th June 2015 · 1 min read
Latin America Data Response Chile Retail Sales, Ind. Prod. & Copper Prod. (May) Activity data from Chile released today were a mixed bag – while retail spendingremained buoyant, industrial output fell sharply. All told, the recent run of softerdata means that our GDP Tracker is... 30th June 2015 · 1 min read
