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Quarterly Metals Report – Q3 2022
Our analysts provide an in-depth analysis of the metals market and current macroeconomic conditions. The environment has weakened significantly as growth fears rise amid persistent high inflation. Central banks are data-dependent, which could mean they slow rate hikes as growth starts to slow. This has meant a downside to the US 10yr yield, but also we see a downside to rate hikes in Q4. Europe will likely enter a recession before the US and take longer to recover, but material availability is significantly lower, shown by low inventories.

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Weekly Report FX Options
Our FX Options Report contains commentary and analysis covering OTC currency option pricing, volatility and positioning.

11.08.22

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FX Monthly Report June 2022
Monthly commentary covering the FX markets, providing insights on recent developments on select currency pairs. This month we look into the JPY and the pressure the BOJ is under to change their monetary policy as JPY continues to weaken against major currencies. Economic data is weakening and inflation is less of a problem in Japan, but yields continue to test the cap.

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Daily Base Metals Report

Non-independent Research Daily Base Metals Report

Non-independent Research

Daily Base Metals Report

Wed 07 April 2021 07:30

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Authors

Dariaefanova

Daria Efanova Research Associate

Contact research Contact Industrial Commodities

US stocks fluctuated yesterday after reaching record highs last week. US job openings reached 2-year high in February, led by industries hit the hardest during the pandemic. Meanwhile, US service providers experienced the fastest growth on record in March as businesses continue to recover. The 10yr US Treasury yield softened and the dollar weakened. The IMF upgraded its global growth forecasts once again to indicate the faster-than-expected recovery worldwide.

LME metal prices were on the front foot today, with nickel paving the way, closing higher on the day at $16,740/t. Aluminium prices were well supported and tested resistance at $2,270/t and closed lower at $2,268/t. Copper was well bid in the second half of the day, testing the resistance level of $9,050/t, before closing below at $9,047/t; the cash to 3-month spread tightened up to $6.75/t. SHFE copper prices also gained footing, closing at CNY67,230/mt. Zinc prices remained supported above $2,820/t before closing at $2,824/t. Iron ore was range-bound but closed higher on the day at CNY977/mt.

Oil futures climbed as a stronger growth outlook outweighs virus concerns. WTI and Brent edged up higher to $59.87/bl and $63.29/bl. Precious metals were all stronger, with gold and silver $1,744.61/oz and $25.26/oz respectively.

All price data is from 06.04.2021 as of 17:30.

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