Daily FNArena News - Commodities

Credit Suisse has seen the market move towards its iron ore price forecasts for FY08, but not everyone shares its view prices will continue to rise in FY09.

Another significant price jump and a scheduled private auction have raised the odds uranium will be priced in three digits soon.

Queensland premier Peter Beattie has released a press statement to report that he will now proceed with the lifting of uranium bans in his state.

What looked like a sure fire bet in 2006 has turned out a massive struggle in 2007. Spot gold is still expected to write US$700/oz this year but in between lays a bumpy road.

Rumours abound Russia is attempting to create an OPEC style cartel of natural gas producers, which would control more than 40% of world production and around 70% of global reserves.

With some signs of a tightening in the copper market BHP Billiton has agreed the likely return to a surplus may take longer than expected thanks to supply side delays.

No transactions were recorded in the past week and this week may not be different. Another auction next week could push the price to US$100/lb, experts say.

ABN Amro has revised its nickel price forecasts higher, joining a swag of brokers to have lifted estimates in recent sessions.

A correction in the nickel price is seen likely in coming months as the stainless steel market de-stocks, but prices should remain elevated relative to historical levels.

Expert projections for spot uranium beyond 2007 vary a lot, but everybody seems to agree that things can get a lot hotter in the short term.