2023 Commodities Outlook: Stormy seas ahead

2022 has been an extraordinary year for commodity markets. Supply risks led to increased volatility and elevated prices.…

The collapse in European natural gas prices in recent months has created a false sense of security. While the current…

Oil prices have seen a fair amount of weakness as we approach the end of 2022. Demand concerns are weighing heavily on…

Negative macro sentiment will continue to put downward pressure on aluminium, with a worsening demand outlook being…

Middle distillates have been a standout among refined products. Inventories are tight in all regions and there is plenty…

Copper has lost all of the gains it made this year as inflation has climbed higher, interest rates have risen, and energy…

Nickel has had a tumultuous year amid Russia’s invasion of Ukraine in February and March’s short squeeze, and…

US dollar strength and central bank tightening have weighed heavily on the gold market in 2022. In the near term, there is…

Iron ore has been one of the worst-performing commodities this year. Concerns over Chinese macroeconomic performance and…

Fertiliser supply decreased in 2022 and prices rose to record highs causing a global drop in demand. High gas prices,…

Global wheat markets are likely to tighten over the 2022/23 season. Meanwhile, there are already several supply risks…

The global sugar market is set to see yet another surplus, driven by expectations of stronger output from Brazil, India…