Metals Data Response Global Steel Production (Aug.) The slowdown in global steel production in August is consistent with our long-held view that slowing demand will weigh on production in the second half of this year. Weakening demand stems from... 25th September 2023 · 2 mins read
Commodities Weekly Russia fuel export ban will temporarily lift crude prices Most commodity prices fell this week as the Federal Reserve left the door open to another interest rate hike before the end of the year, and indicated that rates will remain higher for longer. Russia... 22nd September 2023 · 4 mins read
Commodities Weekly Commodity prices fire up across the board The mood was upbeat in commodity markets this week, with prices rising across all sectors. Oil stood out, with the price in the US cracking $90 per barrel for the first time this year. Higher oil... 15th September 2023 · 5 mins read
Industrial Metals Update Iron ore rally on borrowed time We think the recent rally in the iron ore price will soon go into reverse. Steel demand in China has surged in recent months, but we think that will prove temporary. China’s steelmakers should cut... 14th September 2023 · 3 mins read
Metals Focus Steel prices unlikely to forge ahead Absent major fiscal stimulus in China, global steel demand growth will be weak in the next few months. Accordingly, we forecast price declines in major steel markets towards year-end. Only when... 29th August 2023 · 11 mins read
Metals Data Response Global Steel Production (Jul.) Global steel production will probably continue to edge lower in the next few months, following the latest month-on-month decline revealed by the WSA today. Crucially, we think that steel demand will... 22nd August 2023 · 2 mins read
Commodities Weekly Oil prices hit a great wall, metals await stimulus Commodity prices generally fell this week, dragged down by a surging dollar and data that showed China’s economy struggled in July. Asia LNG and EU natural gas prices were the exception, rising as the... 18th August 2023 · 5 mins read
Industrial Metals Update China stimulus not a silver bullet for industrial metals The outlook for industrial metals demand has deteriorated alongside the weakening of China’s economy this year, particularly in the property sector. Monetary and fiscal stimulus might paper over the... 16th August 2023 · 3 mins read
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
Commodities Chart Pack Commodities Overview Chart Pack (Aug. 2023) This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 9th August 2023 · 1 min 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
Metals Data Response Global Steel Production (Jun.) Global steel production growth picked up in June, albeit only to a pace consistent with stagnant growth. With the rise in output in China on shaky ground and weak demand beginning to weigh on supply... 25th July 2023 · 2 mins read
Commodities Update China’s PMIs suggest commodities demand is subdued China’s PMI aren’t consistent with some of the worst fears around China’s reopening recovery and weak commodities demand. But neither are they positive enough to warrant the boost to prices, such as... 3rd 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
Metals Data Response Global Steel Production (May) Global steel production fell sharply in y/y terms in May. Against the backdrop of subdued demand and stringent supply caps in China, the supply outlook over the next few months appears bleak. 21st June 2023 · 2 mins read
