Daily FNArena News - Commodities

Canada’s Cigar Lake has flooded, taking out 10% of planned world uranium production for at least a year. Get set for US$100/lb plus uranium prices.

Technical chartists at Barclays Capital believe the outlook for the spot price of gold is improving.

With tongue planted firmly in cheek, Stephen “Grizzly” Roach emerges from his den to berate investors who suddenly believe the commodity boom is back on.

GFMS Metals Consulting is forecasting India will export as much as 11 million tonnes of steel products by 2011 while enjoying significant cost advantages over Chinese producers.

Zinc stockpiles are dangerously low, and demand continues to grow from China’s galvanised steel industry.

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.