Daily FNArena News - Commodities

The inability of the spot uranium price to break out of the doldrums (down again this week) has led to broker target price cuts for Australian miners.

The market agrees oil prices will head higher as the global economy recovery and market fundamentals improve, with RBS Australia offering its preferred list for playing the sector.

A glance through the latest expert views and predictions about commodities with updates on the corporate attractiveness of Oz nickel producers, signs gold is finding support and an update from BHP’s CEO.

Copper prices have been relatively resilient in recent months but positive market fundamentals suggest upside for those with a longer-term view on the market.

While investor fears have weighed on oil prices in recent months Barclays Capital notes the demand picture has continued to improve, supporting the group’s view prices are headed higher.

A glance through the latest expert views and predictions about commodities, with a resolution of labour strikes seen as bad news for nickel prices and more tax related reviews for Oz miners.

Gold has failed to live up to expectations these past weeks. Does this now mean the only way forward is through a downward correction?

The spot uranium market was quiet last week ahead of the final US Department of Energy inventory sale for 2010.

There remain mixed views on the outlook for oil prices, with ANZ Bank identifying some short-term downside risks but Barclays and Commonwealth Bank remaining positive on medium-term prospects.

The last week of June saw some late buying to push the uranium spot price up US75c.