Daily FNArena News - Commodities

While conditions in global markets remain mixed, steel industry consultant MEPS expects an upturn in steel prices in 2012.

A glance through the latest expert views and predictions about commodities with ANZ noting Chinese confidence remains solid, NAB sees ongoing market headwinds and JP Morgan and UBS offer updates on the oil market.

The week ending on Friday saw yet another small decrease for spot uranium.

A glance through the latest expert views and predictions about commodities with UBS offering some reasons for caution, some positives for lead, quality issues in coal and changes to oil price forecasts.

Jonathan Barratt of Barratt’s Bulletin suggests Iran’s threat is not enough to offsett weak momentum for crude oil prices in the short term.

TradeTech’s weekly spot price indicator for U3O8 improved for the week ending Friday.

While Fukushima has raised questions over the demand side of uranium, rapid production growth in Kazakhstan means the former Soviet state can now control pricing from the supply side.

Local investors were heartened by this week’s ABARES crop forecast but Jonathan Barratt of Barratt’s Bulletin warns of a less inspiring global picture.

Between potential European collapse and further monetary stimulus, between central bank buying, jewellery demand and global mine disruptions, lies a price of gold in 2012.

A glance through the latest expert views and predictions about commodities with mixed views on the zinc and aluminium markets, some support for steam coal and a positive fertiliser market outlook.