Commodities Weekly

Initial thoughts on commodities and Trump tariffs

While it is uncertain exactly how Trump will approach tariffs during a second term, China will clearly be in the firing line and commodities could be caught in the crossfire. Iron and steel, and to a...

15th November 2024 · 4 mins read

Commodities Weekly

China stimulus a silver bullet for metals? Think again

The stimulus packages announced by Chinese policymakers were the main reason behind the chunky increases in industrial metals prices this week, and explain why they performed better than most other...

27th September 2024 · 4 mins read

Commodities Outlook

Soft demand + extra supply ⇒ lower prices

We expect most commodity prices to fall next year and our forecasts are generally below consensus. The biggest upside risk to our energy price forecasts stems from the potential for an escalation in...

24th September 2024 · 24 mins read

Commodities Focus

Metals: China slowdown to offset green transition

While the green transition and AI-related use will boost demand for industrial metals over the rest of this decade, we expect this to largely be offset by a substantial contraction in demand from...

19th September 2024 · 10 mins read

Commodities Focus

Will India kickstart the next commodity boom?

With a large and growing population and a bright long-term economic outlook, the stage is set for India’s commodity demand to boom. However, there are several reasons why India won’t have the same...

10th September 2024 · 11 mins read

Commodities Weekly

OPEC+ definitely maybe in charge of the oil market

The big news this week was the decision by some OPEC+ members to extend their voluntary output cuts until December. The immediate implications of the delay to unwinding voluntary output for the oil...

6th September 2024 · 4 mins read

Commodities Update

Recycling’s role in securing critical minerals and metals

China’s announcement last week that it would curb exports of antimony, a critical mineral, was another example of global fracturing unfolding in the commodities arena. Recycling offers an obvious way...

21st August 2024 · 3 mins read

Commodities Weekly

Escondida strike; China tightens grip on antimony

The strike at the world’s largest copper mine, Chinese export curbs on another critical mineral and the iron ore price tumbling to a yearly low rocked metals and minerals markets this week. While we...

16th August 2024 · 4 mins read

Commodities Chart Pack

Commodities Chart Pack (Aug. 2024)

Commodities have not been immune to the recent turmoil in financial markets, with the prices of most industrial metals, agricultural, and energy commodities extending their downward trends over the...

7th August 2024 · 1 min read

Commodities Update

China, not a US slowdown, the key for industrial metals

Following another leg down in industrial metals prices, this time due to growing worries about a US recession and the broader financial market carnage, we still think that prices will fall further...

7th August 2024 · 3 mins read

Commodities Update

Olympic medals to lose their shine before long

The start of the Paris Olympic Games today suggests that there will be renewed interest in gold, silver and bronze. We suspect that athletes will be disappointed by the fact that the Olympic medals...

25th July 2024 · 3 mins read

Commodities Update

China’s metals overcapacity to bear down on prices

While the debate around China’s manufacturing overcapacity has centred around politically sensitive topics such as electric vehicles, its industrial metals sector is no exception. Whereas the focus of...

11th July 2024 · 4 mins read

Commodities Outlook

Commodity prices to fall back

We forecast most commodities prices to fall next year – despite falling interest rates and faster global GDP growth – as numerous supply constraints ease and a crunch in Chinese construction begins to...

27th June 2024 · 21 mins read

Commodities Weekly

OPEC+ temporarily sinks oil prices

The decision by OPEC+ last Sunday to increase output from October caught investors by surprise and sent oil prices sinking to below $78 per barrel early in the week. Ahead of the meeting, investors...

7th June 2024 · 5 mins read

Commodities Chart Pack

Commodities Overview Chart Pack (June 2024)

Our Commodities Overview Chart Pack has been updated with the latest data and our analysis of recent developments. OPEC+’s decision to roll over its production cuts into Q3 will keep supply...

6th June 2024 · 1 min read