Daily FNArena News - Commodities

Despite no transactions, the uranium spot price nudged a little lower as speculative demand increases.

Standard Chartered suggests the Chinese stimulus package will help but won’t push commodity prices significantly higher, though there are still opportunities in the sector according to Deutsche Bank.

Barclays Capital sees nothing in the market at present to cause a shift from its view the bearish trend for natural gas remains in place.

Oil prices are tracking recent equity market rises, gaining support from traditional supply/demand fundamentals, at least for now.

Contract coal prices look to have fallen 44% on last year, but a weaker AUD and falling production costs are compensating Australian producers.

Uranium slips another US50c/lb as bargain hunting takes the upper hand.

The story of this year’s annual iron ore negotiations remains dominated by re-stocking, weak demand and a Chinese surplus package.

The CEO of the world’s largest producer of yellow cake believes a “uranium supply crunch” is “just around the corner”.

With the first thermal coal settlements in Japan indicting a benchmark price of US$70/t, brokers are starting to pick their Aussie coal favourites.

Danske Bank has further lowered its commodity price forecasts but continues to recommend investors get set as there are some signs of improvement on the horizon.