Metals Data Response Global Aluminium Production (Mar.) Daily aluminium production dropped back a bit in March. But with prices currently at multi-year highs, and only very piecemeal restrictions on output in China, we doubt it will be long before daily... 20th April 2021 · 2 mins read
Commodities Weekly Slew of positive data gives fresh fuel to price rally Most commodity prices rose this week following a batch of positive economic data releases. Oil prices were up particularly strongly on the back of a larger-than-expected weekly decline in US crude... 16th April 2021 · 6 mins read
Industrial Metals Update China trade: how are our predictions stacking up? The latest China trade data show that ore imports are rebounding, though scrap imports remain subdued. Meanwhile, imports of refined copper have seen a renewed surge. Nevertheless, we continue to... 15th April 2021 · 2 mins read
Energy Data Response US Weekly Petroleum Status Report Last week’s fall in crude stocks in the US was the result of higher demand rather than lower supply. This bodes well for our view that a relatively strong economic recovery in the US will boost oil... 14th April 2021 · 2 mins read
Commodities Update China commodity trade: cutting through the noise China’s imports of key industrial commodities point to ongoing strength in domestic demand. But the bigger picture is that import volumes remain well below last year’s peaks, and we expect growth in... 13th April 2021 · 2 mins read
Energy Chart Pack Oil prices to climb higher, despite recent setbacks Strong growth in industrial demand helped push up the prices of energy commodities used primarily in power generation last month, but oil prices slipped back. We continue to expect average energy... 12th April 2021 · 7 mins read
Commodities Weekly Mixed economic outlook poses a quandary for prices It was a relatively quiet week in commodities markets, with weakness in the US dollar giving agricultural commodities, in particular, a bit of a lift. We think markets could struggle to find a clear... 9th April 2021 · 6 mins read
Commodities Chart Pack Commodity prices to take a breather in the near term A rise in new coronavirus infections in many parts of the world, including Europe and India, weighed on investor sentiment in commodity markets in March. However, all the signs point to a rapid... 7th April 2021 · 7 mins read
Commodities Weekly Oil market to remain in a deficit The decision earlier today by OPEC+ to ease its oil production cuts from May means that production from the group will be slightly higher than we had previously anticipated in Q2. However, the rise in... 1st April 2021 · 5 mins read
Commodities Update China PMIs point to lower industrial metals prices Despite some conflicting messages from the official and unofficial PMI data out of China, both surveys continue to point to lower industrial metals prices. A pick-up in manufacturing activity and... 1st April 2021 · 2 mins read
Commodities Weekly Impact of Suez blockage likely to be short-lived Commodities markets were something of a mixed bag this week. The grounding of a container ship in the Suez Canal helped to prop up the prices of some commodities despite growing worries over the... 26th March 2021 · 6 mins read
Energy Update Surge in US oil production still seems very unlikely Despite the ongoing rise in the number of rigs actively drilling for oil, we continue to expect a lacklustre recovery in US oil production over the next couple of years. 24th March 2021 · 2 mins read
Commodities Weekly Optimists need a little patience Commodities markets experienced a bit of a reality check this week, with prices falling despite little material change in the underlying demand and supply fundamentals. In the same way that optimism... 19th March 2021 · 5 mins read
Commodities Focus The anatomy of a supercycle History shows that supercycles are usually demand-driven, and that the performance of individual commodity prices has varied hugely both within and between past supercycles. In addition, supercycles... 17th March 2021 · 13 mins read
Commodities Weekly Tweaking our forecasts; the super-cycle debate Despite big moves in bond and equity markets, commodity markets were fairly subdued this week. Nevertheless, we expect oil prices to break higher again before long, and our new forecasts show them... 12th March 2021 · 8 mins read
Commodities Weekly Oil prices making up for lost time It was a relatively two-sided affair in commodities markets this week. On the one hand, oil prices rose on the back of greater-than-expected output restraint announced by OPEC+. And on the other hand... 5th March 2021 · 8 mins read
