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 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 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

Industrial Metals Focus

How metals-hungry will the green transition be?

The metals-intensive nature of green technologies will add to demand for a host of industrial and battery metals, with green demand for copper and aluminium likely to grow twice as quickly as...

23rd May 2024 · 17 mins read

Commodities Update

Your latest commodities questions answered

We held an online Drop-In session last week to discuss geopolitical risk and the commodities price outlook. This Update answers several of the questions that we received.

10th May 2024 · 7 mins read

Commodities Chart Pack

Commodities Overview Chart Pack (May 2024)

We think that oil prices have further to fall, as we expect OPEC+ to gradually increase output later this year. Prices have recently fallen as worries that the conflict in the Middle East could affect...

8th May 2024 · 1 min read

Commodities Weekly

Metals prices: a genuine breakout or overoptimism?

In a mixed week for commodity prices, copper topped $10,000 per tonne for the first time since April 2022. This is the latest in what has been a rip-roaring start to the year for non-ferrous...

26th April 2024 · 4 mins read

Industrial Metals Update

Russian metal ban won’t rock the boat

We think that any impact from the suspension of trading of Russian metal on the LME and CME is likely to be muted, given that trade flows have already shifted markedly and it is unlikely to impact...

15th April 2024 · 2 mins read

Industrial Metals Update

China property contraction to hit metals prices hard

In light of our China team’s new non-consensus view that an aggressive slowdown in property sector construction seems almost inevitable in the years ahead, we have revised our price forecasts. We now...

10th April 2024 · 4 mins read

Commodities Chart Pack

Commodities Overview Chart Pack (Mar. 2024)

We expect oil prices to edge lower in the second half of 2024 as OPEC+ starts to unwind its production cuts. However, the Israel-Hamas war, and associated risks to supply, will act as a floor under...

12th March 2024 · 1 min read

Commodities Weekly

OPEC+ conundrum; Indonesia’s nickel dominance

We think OPEC+ members will opt for a short 1-3 month extension in their upcoming decision on whether to extend their voluntary production cuts, as lost market share will be a concern for members...

1st March 2024 · 5 mins read

Industrial Metals Update

Wave of supply will keep nickel prices low

We think the huge expansion in nickel supply will keep the market balance in a sizeable surplus this year. Accordingly, we don’t think the price will muster a recovery from its recent slump.

12th February 2024 · 2 mins read

Event

Asia Drop-In: After Jokowi – Indonesia’s election and its long-term economic outlook

1707811200

Indonesians go to the polls on 14th February to elect a successor to Joko Widodo, the president popularly known as Jokowi, who pushed through some key reforms to secure the country’s

Commodities Weekly

China metals demand; EU weighing Russia metals ban

It was generally a positive week for commodity prices and particularly for industrial metals prices. All major industrial metals finished the week higher, seemingly due to some improvement in risk...

26th January 2024 · 4 mins read