Daily FNArena News - Commodities

Demand remains fairly straightforward, but supply continues to be the influencing (and volatile) factor in base metal price forecasts.

Nickel has remained surprisingly strong amidst increased volatility and selling pressure for metals in 2007. Expert opinions remain sharply divided about the way forward.

It’s “Moderate Overweight” only, but Merrill Lynch strategists have lifted their resources sector weighting from Neutral. Elsewhere, Rio gets a downgrade.

IMF sales are just one piece in a bullish gold puzzle, according to the biggest coin dealer in the US.

Steel industry consultant MEPS believes inflated global prices are about to correct for stainless steel products.

An advisory panel has recommended the IMF sell 400t of physical gold to offset its losses, but there won’t be any price collapse.

Davos: Western mining companies have held a secret meeting to discuss ways to head off China’s resource deals in Africa. Bring in the UN?

There are rumblings in Davos, and it’s not from too much chocolate. China is moving quickly to secure Africa’s natural resources, and the world is worried.

News broke last week that the IMF would change the rules to stop central banks’ manipulation of gold reserves through gold lending. This should be very bullish for gold, but the IMF is promising nothing yet.

Spot uranium won’t move as ongoing uncertainty about Cigar Lake keeps buyers and sellers at a significant distance from each other.