Daily FNArena News - Commodities

Not wishing to be left behind, spot uranium had a solid jump last week.

Increasing Chinese interest in purchasing uranium is without doubt one of the stand out developments for the industry this year.

The Chinese economy apears to be recovering but while this is a positive for commodity prices Westpac suggests a sustained recovery won’t occue before the rest of the global economy also recovers.

Spot U3O8 prices rose for the second week in a row.

Some experts believe gold’s outlook has now changed course, but others maintain the bullish trend is still in place.

This week’s pull back in commodity prices comes hardly as a surprise say market watchers.

It has been a long wait since November 2008, but spot uranium prices have finally started to move higher.

Opinion is growing that copper’s strong rally is all just a mirage. But not everyone agrees.

Oil demand is expected to fall this year but in the view of Barclays Capital the revised International Energy Agency numbers are too bearish given global growth expectations.

TradeTech has followed the example by peer UxC and lowered its weekly spot price indicator by another notch.