Daily FNArena News - Commodities

Global steel industry conditions continue to worsen and steel industry consultant MEPS has lowered its global price forecast by 15%.

Friday saw gold break out of its consolidation pattern. Is this time for real?

The spot uranium price jumped another US$5 this week.

Steel’s fall from record highs to below production cost in just four short months may mean the worst is over.

The weaker global economic outlook is spurring further cuts to oil price forecasts.

Production problems, increasing demand and the prospect of a new uranium fund sees the uranium spot price rise for the second straight week.

Reduced demand and buyers reneging on contracts have sent prices lower among the bulk commodities and brokers have adjusted their expectations accordingly.

According to Barclays Capital the oil price has overshot to the downside as it adjusts to changing market dynamics and economic conditions but longer-term supply side issues support higher prices.

As conditions continue to weaken brokers are continuing to reduce their commodity price forecasts.

The price of a pound of yellow cake continues to drop.