Commodities Weekly Natural gas prices strike higher Natural gas prices were the biggest mover in commodity markets this week, jumping higher on the back of news of potential industrial action at LNG plants in Australia. We don’t think gas prices in... 11th August 2023 · 5 mins read
Metals Chart Pack Metals Chart Pack (Aug. 2023) We expect targeted stimulus in China to put a floor under base metals prices in the remainder of 2023. But the slowdown in developed economies (DMs) will prevent significant gains. Prices should start... 8th August 2023 · 1 min read
Commodities Update China’s commodity imports falter but won’t collapse China’s commodity import volumes fell in July compared to June. Policy support should help lift metals imports over the next few months. And although crude oil imports fell sharply, we think that... 8th August 2023 · 2 mins read
Industrial Metals Update El Niño likely to add to supply woes The widely-differing impact of El Niño across continents means that the net effect on global mining output is not clear cut. On balance, though, the likelihood is that it will lead to lower ore output... 18th July 2023 · 3 mins read
Commodities Update China’s commodity imports remain strong in June China’s commodity import volumes remained high in June, helped by the economic re-opening, but they were held back by softening input-related demand for the manufacture of goods for export. As... 13th July 2023 · 2 mins read
Commodities Weekly US crude exports rise; China’s demand to drive prices There wasn’t a consistent direction to commodity prices this week. Natural gas prices in Europe and Asia rose, indicating stronger competition for LNG cargos. Meanwhile, most industrial metals prices... 30th June 2023 · 4 mins read
Commodities Outlook Energy prices to buck the downbeat trend We expect most commodity prices to struggle this year against a backdrop of a stronger dollar and deteriorating investor risk appetite. Energy-related commodities will be the exception. We expect... 29th June 2023 · 31 mins read
Commodities Weekly China stimulus a possible lifeline for metals demand Most prices rose this week, helped by a weaker dollar, stronger-than expected US retail sales in May and interest rate cuts by the People’s Bank of China. Natural gas prices rose particularly sharply... 16th June 2023 · 4 mins read
Commodities Weekly Data and debt ceiling to move prices next week Commodity prices generally fell this week, as investors’ expectations for the Federal Reserve’s policy rate rose on concern about the persistence of high inflation. The dollar also strengthened... 26th May 2023 · 6 mins read
Commodities Weekly US data the key driver of prices next week Dealmaking was a major driver of commodity prices this week. The 11th hour extension of the Black Sea Grain Initiative alleviated fears of Ukraine’s grain exports being cut off from world markets... 19th May 2023 · 6 mins read
Commodities Chart Pack Demand concerns a lingering headwind for prices Most commodity prices have moved lower over the past month as concerns about demand have intensified and risk appetite has soured. We think prices will continue to struggle over the next few months as... 16th May 2023 · 13 mins read
Commodities Weekly Prices starting to look on borrowed time Commodity prices received a boost from expectations that the Fed is nearing the end of its tightening cycle and the weaker US dollar this week, but we think that it is only a matter of time before the... 14th April 2023 · 6 mins read
Commodities Outlook The energy crisis is over, but prices to stay elevated We expect most commodity prices to drift lower in the near term as advanced economies enter mild recessions and financial market risk aversion persists. A stronger US dollar will also weigh on prices... 31st March 2023 · 41 mins read
Commodities Outlook The global recession isn’t done with commodities yet Tight financial conditions and China’s biggest COVID outbreak yet mean global economic growth will slow further in the first quarter of next year, dragging most commodity prices lower. The slowdown... 16th December 2022 · 2 mins read
Commodities Update Demand outlook deteriorating The latest manufacturing PMIs out of China and emerging Asia point to a worsening demand outlook for commodities, but especially industrial metals. This adds weight to our view that industrial metals... 1st September 2022 · 2 mins read
