From the RBA this afternoon: Preliminary estimates for April indicate that the index fell by 1.6 per cent (on a monthly average basis) in SDR terms, after rising by 0.5 per cent in March (revised). The largest contributors to the fall in April were decreases in the prices of coal, oil, gold and aluminium. In
Courtesy of ANZ: ANZ Commodity Daily 613 010512
Courtesy of ANZ: ANZ Commodity Daily 612 300412
Courtesy of ANZ: ANZ Commodity Daily 611 270412
Courtesy of ANZ: ANZ Commodity Daily 610 260412
Courtesy of ANZ: ANZ Commodity Daily 609 240412
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PhD candidate Luke Hurst of the ANU’s Crawford School of Public Policy has produced new research on the potential impacts of African iron ore on the sea-born iron ore price. I recommend everyone read this paper (find it at the end). It’s solidly argued and a very readable summary of the various arguments put forward
Courtesy of ANZ: ANZ Commodity Daily 607 200412
Today’s chart comes from Reuters and shows the rapid deceleration in nuclear power generation in Japan as the aftermath of the Fukushima tragedy: For reference, here is worldwide electricity production, as reported by the World Nuclear Association, with the following stats: There are now over 440 commercial nuclear power reactors operating in 30 countries, with
Courtesy of ANZ: ANZ Commodity Daily 606 190412
Courtesy of ANZ – find the full report below the excerpt: Newcastle coal front month futures slipped with activity quieter than usual, as most market participants attend China’s CoalTrans (CT). In one presentation, BHP said China’s coking coal demand is expected to remain resilient to 2025, supported by capital and infrastructure spending in its steel
Courtesy of the ANZ: ANZ Commodity Daily 604 160412
Courtesy of ANZ, find the full report below this excerpt: Newcastle coal front month futures fell slightly. Buying from Australia still appeared to be soft, while rising freight rates exacerbated the pull-back in activity. Instead, competitors appear to be picking up exports, with reports suggesting Q1 2012 coal supply from Colombia up 19% y/y on
Courtesy of ANZ: ANZ Commodity Daily 602 120412
The twin pillars of Australia’s boom, iron ore and coking coal, continue to diverge. Yesterday the iron ore price broke more decisively out of its post crash trading range, up half a percent or so to $148.70. To say the least, this is a finger in the eye for China bears. Here is the spot
Two reports from The Cupboard today put a lot of gloom in the gas Futureboom! The most recent report has Woodside delaying a $40billion LNG plant near Broome, pushing the start date on production back to 2018, albeit because of an “aggressive timetable”: Woodside’s Petroleum’s request to delay a decision on a $40 billion LNG plant at
Today’s wrap from ANZ, with the full report below. You can find up to date charts on major commodities, including iron ore prices at our “Morning Macro” daily wrap. Here is today’s prices, with year-to-date performance: ANZ Commodity Daily 600 100412
Today’s wrap from ANZ, here are some excerpts, with the full report below. You can find up to date charts on major commodities, including iron ore prices at our “Morning Macro” daily wrap: Newcastle coal futures declined 1.6% to US$107/t in line with other commodities. Indonesia’s consideration of a 25% coal export tax next year
Today’s wrap from ANZ, here are some excerpts, with the full report below. You can find up to date charts on major commodities, including iron ore prices at our “Morning Macro”. Base metals were mixed again, with copper down mildly as disappointment after the US FOMC minutes offset the positive US manufacturing and factory orders
Find below a bullish report on global steel output from ANZ. The ANZ team is a bit reflexively bullish for my tastes and there some rather large questions still hang over Chinese output but there are some useful charts in this note. Happy reading. Anz Hifi Steel Mar12
Today’s wrap from ANZ, here are some excerpts, with the full report below: Crude benchmarks declined, with US prices falling to the lowest levels since mid-February and Brent prices at a two week low. Recent talks by US and European officials over a potential release of strategic stockpiles added to Saudi Arabian Oil Minister’s recent rhetoric against
You are perhaps bemused that I follow the iron ore price with such regularity but to me it is bizarre that its price movements are not front page news every day. To be frank, you could scrap the business pages of every paper and simply print the iron ore price and you’d get a better
Courtesy of ANZ: ANZ Commodity Daily 596 280312
Find below ANZ’s Commodity Daily report. ANZ Commodity Daily 595 270312
It’s been a while since I visited iron ore prices. The miracle commodity has been performing well and is one indicator that has been defying a broad range of weakening indicators in China. The overnight price is near the top of its trading range since last year’s fall: That’s now a pretty decent recovering trend
Find below the ANZ’s Commodities Daily. We’ll add this useful document as a regular. ANZ Commodity Daily 594 260312[1]
I was going to post a more gruesome chart of the flash PMI’s from Europe last night, but Delusional Economics is writing a report on the result, so this chart from The Economist should take its place: It really is a two speed global economy with the USA, China and Russia expanding, whilst in percentage
Citi has joined the recent debate about whether the commodity super cycle is finished (or nearly so) with an argument in the affirmative. Bulls like to point to the fact that the apparent intensity of use for steel (in terms of kg per capita) for China is still well below some other countries at their peak. However,
By Leith van Onselen The Bureau of Resources and Energy Economics (BREE) released its Resources and Energy Quarterly—March quarter 2012 (report below) yesterday, which provides a bullish outlook for Australian commodity exports. From the press release [my emphasis]: Australia’s resources and energy commodity export earnings are forecast to continue to grow over the medium term
