Daily FNArena News - Commodities

India is moving from exporter to importer of sugar while more of Brazil’s output should go into ethanol production, all of which Barclays sees as supportive for sugar prices.

If gold is being bought through fear, what might happen if fear abates?

Commodity prices continue to nosedive and Australian stocks are tracking the losses, with the fate of the AUD tied to both.

While awaiting news on Australian iron ore, China has secured oil deals with Brazil and Russia.

Barclays Capital notes copper scrap supplies are falling and it expects this trend to limit the global surplus of the metal this year.

Worsening fundamentals have pushed down aluminium prices.

Barclays Capital notes it has been growing demand for power that has driven growth in the natural gas market in recent years. Despite current weakness this trend should continue.

Recent data out of China suggest improving demand in the steel sector but Barclays and steel industry consultant MEPS suggest it remains too early to be optimistic on prices.

According to Barclays Capital sentiment in the natural gas market remains poor as the economic outlook continues to deteriorate but as this improves so should the gas market.

Spot uranium has tumbled below US$50/lb again.