Daily FNArena News - Commodities

China’s plans to raise stainless steel production capacity look set to support nickel prices for some time to come.

Citigroup has increased its price forecasts for gold for the next 2.5 years. The result is recommendation upgrades and higher targets for Australian stocks.

Steel industry watcher MEPS was surprised by a 5.4% jump in prices in May.

If investors should draw any conclusions from recent events it is that the price of gold is ready to continue its upward path, Dennis Gartman says.

Extra production from China, Russia and the EU to drive a 7.5% increase in stainless steel production, MEPS says.

Miners such as BHP may force a re-evaluation of treatment and refining charges in the copper smelting industry.

The March quarter saw the highest volume of net producer de-hedging measured since late 2002.

Global demand for commodities will abate from here on and the markets will have to adjust to the new situation, BCA says.

Are iron ore prices peaking? National Australia Bank predicts a price roll over into Japanese fiscal 2008.

The price of alumina in China has begun to fall following record imports of bauxite. Unlike copper, aluminium is not plagued by low inventories and a slow production response. If aluminium breaks ranks with the metals bull market, the whole complex could come down.