Fundamentals affecting commodity prices

by: Casper Burgering , Hans van Cleef

Commo-Update-bi-weekly-13-November-2013.pdf ()
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Recent data suggest that Chinese industrial metal imports remained strong in October. Metal prices were mainly driven by economic news over the past weeks while weak market sentiment set the tone for steel markets. The spread between Brent and WTI increased significantly recently due to high inventories and fears of Fed tapering versus a delay in finding an agreement on the Iranian nuclear programme. The new IEA and OPEC outlooks are in line with the ABN AMRO outlook released on 31 October.

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