Daily FNArena News - Commodities

Industry consultant MEPS expects prices for both flat and long steel products in Asia to post short-term gains, but the increases are unlikely to last beyond the middle of the year.

Natixis Commodity Markets sees conditions in base metal markets as remaining supportive, though prices in 2008 are likely to be lower than this year.

Natixis Commodity Markets highlights the upward drift of “floor” prices in precious metals.

Queensland’s uranium policy is still up in the air, while GSJB Were believes ERA and Paladin are overvalued.

With seasonal conditions in favour of higher metal prices expectations are being reviewed and the outlook appears favourable.

Gold continues to prove surprisingly resilient against European central bank selling of their gold allowances.

The Chinese authorities have announced a plan to build a third strategic stockpile of commodity reserves: uranium will soon be joining grain and crude oil.

That the US dollar is weaker is not enough to justify gold’s recent performance, according to lateral thinkers GaveKal.

The IMF has again come under pressure to sell its extensive gold holdings, while a Sunday Times article has refocused attention on manipulative British gold sales of 1999.

Molybdenum is not just a tongue twister. With demand increasing for its use in applications from steel alloys to catalysts, the moly market could just about be set to explode.