Daily FNArena News - Commodities

Steel prices are settling lower in Japan due to Chinese export pressure, but a soft landing is on the cards and demand remains positive.

Rio Tinto’s Chief Executive Iron Ore left analysts at JP Morgan with the impression that iron ore prices will go up further as the market has commenced to pencil in.

Citigroup analysts are bullish on the prospects for the gold price, and note significant opportunities in gold miners if you stick to the majors.

Analysts are beginning to rethink recent bearish views about metal prices.

Citigroup sees a number of reasons for both the sizable fall in sugar prices this year and why prices are likely to rebound next year.

Having decided European central banks did not sell their gold quota last week, it appears they may well have – covertly. The question of gold market manipulation is reaching a head.

Gold may yet have to trade below US$550/oz before the bull market can resume, according to gold experts.

Steel Industry consultant MEPS is forecasting a downward trend for global steel prices in the coming year, primarily reflecting lower demand.

The last week has seen further uranium price upgrades from investment banks and ABARE.

Industry Consultant MEPS suggests steel prices in the North American Market have peaked, with weakness likely until the second half of 2007.