Daily FNArena News - Commodities

If the conspiracy theorists are right – and they abound in the world of gold trading – then the price of gold should be much, much higher. Perhaps as high as US$2,000/oz.

Both National Bank and Credit Suisse have lifted their oil price forecasts as they note demand remains strong but increases to supply capacity remain limited.

Steel industry consultant MEPS suggests both sides of the steel market are struggling as the nickel price continues to impact on steel prices.

Steel markets globally are showing increased volatility, though analysts suggest it is too early to know if this signals a correction or is simply a seasonal blip in prices.

Nickel has been the outstanding performer in the metal complex of late, but UBS ponders whether copper might not make a comeback.

UBS raises nickel and copper price forecasts, but cuts aluminium and alumina.

FN Arena News welcomes Stockinterview.com as the tenth contributor to our freshly launched service (more) Sources of Wisdom. Subscribers to our service will be able to read contributions from Stockinterview.com on a regular basis from now on.

Primary copper imports into China in the first half of 2006 were down 45%. Underlying demand is showing a diminishing trend.

The palladium price has far outrun the prices of other precious metals this year. Has it gone too far?

The oil price may have eased but observers agree any withdrawal of Iranian oil from the market, as a result of the current Israeli-Hezbollah conflict, will see oil at US$100/bbl in a flash due to insufficient spare capacity.