Commodities Update Metals can’t ignore China slowdown for much longer Although the China PMI data were a mixed bag in October, the big picture is that they remain at odds with sky-high industrial metals prices. This adds to our view that prices have quite a long way to... 1st November 2021 · 2 mins read
Commodities Weekly Energy to remain in the spotlight It is perhaps too soon to call the end of the energy price rally, but the prices of European natural gas and Chinese coal took a tumble this week as supply fears were, at least partially, allayed... 29th October 2021 · 6 mins read
Commodities Outlook Energy supply squeeze to delay decline in prices Low stocks ahead of winter in the Northern Hemisphere have sent energy prices soaring. In turn, higher energy costs have also constrained the production of other commodities, most notably industrial... 28th October 2021 · 2 mins read
Commodities Weekly Energy price rally may spill over to other commodities Most commodity prices increased this week. Optimism over electrification, which was a hot topic during LME Week, seemed to feed through into higher industrial metals prices. But the prices of energy... 15th October 2021 · 6 mins read
Long Run Update The implications of accelerated renewable electricity use Accelerated adoption of renewable electricity will cause demand and prices of coal and natural gas to fall over the long run. While we think the global economy will handle this transition well, there... 15th October 2021 · 3 mins read
Commodities Update Downturn in China’s commodity imports intensifying China’s imports of key commodities slumped almost across the board in September. The main exception was imports of coal, which soared in response to recent power shortages. We expect coal imports to... 13th October 2021 · 2 mins read
Commodities Weekly Energy price rally maybe running out of steam Commodity prices generally rose this week, helped by the US senate approving a deal to increase the federal debt ceiling. After a rollercoaster of a week, European natural gas prices ended the week... 8th October 2021 · 5 mins read
Commodities Chart Pack Gas & coal surge to support other commodity prices Natural gas and coal prices soared in September. In turn, this has raised the output costs of industrial metals, most notably those which are especially energy intensive such as aluminium and steel... 5th October 2021 · 12 mins read
Commodities Weekly Energy prices surge as rally looks overdone Commodity prices generally rose this week, but especially energy prices, which continued to surge on constrained supply, unseasonably high demand and low stocks. That said, we think the supply... 1st October 2021 · 5 mins read
Commodities Weekly Downward pressure on prices is mounting Commodity prices held up well this week, despite the hawkish tone of the Federal Reserve and continued worries over a messy default by Evergrande, the Chinese property developer. Notably, European... 24th September 2021 · 5 mins read
Energy Update Three potential catalysts for lower European gas prices A mild winter in the Northern Hemisphere, a substitution of gas for other fuels in electricity generation, and/or a rise in supply via Nord Stream 2 could all send European gas prices lower in the... 24th September 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report US crude stocks have continued to fall as refinery activity has so far recovered faster than crude output following Hurricane Ida. And with demand already broadly back to pre-pandemic levels, US crude... 22nd September 2021 · 2 mins read
Commodities Weekly Three key developments to keep an eye on Most commodity prices ground higher this week. And, stepping back, we think events this week highlight three key themes to watch in the months ahead. First, natural gas prices show no sign of easing... 17th September 2021 · 6 mins read
OPEC Watch OPEC Monthly Oil Market Report (Sep.) The rise in OPEC’s oil output fell well short of its target in August. And given a higher oil demand forecast for 2022, alongside growing external pressure, we think that the risks are tilting towards... 13th September 2021 · 3 mins read
Commodities Weekly More of the same Commodity markets have been relatively quiet over the last few weeks, with many prices trading in a narrow range. There are a few exceptions, most notably the prices of natural gas and coal, which... 10th September 2021 · 5 mins read
Energy Update How long will coal and gas prices remain sky-high? Coal and natural gas prices have soared around the world on the back of unseasonable weather and disruptions to supply. And even if the weather normalises and supply rebounds soon, we expect prices to... 10th September 2021 · 4 mins read
