Daily FNArena News - Commodities

Citi hails Carrapateena and Frieda River projects; few signs of tin recovery; no tailwinds for crude; more supply rationing needed in iron ore.

After a sharp price fall in April, spot uranium has again found support at lower levels.

Investors have called the bottom in iron ore prices but ANZ analysts believe a subdued Chinese steel outlook will keep a lid on bulk prices for some time.

Commodity demand improves in April; temporary respite for oil; gold apathy; urea under pressure; more rationing needed for iron ore.

The recent slip in the spot uranium price became a plunge last week as selling outstripped buying interest. Term contract prices have also fallen

Manganese has suffered a similar fate to iron ore in the slowing of steel production growth but the upcoming South32 de-merger has reinvigorated interest in the outlook for the metal.

Oil production decline in US; China’s thermal coal exports; copper supply diversifies; gold under pressure; platinum demand lacklustre.

Sellers are being forced to lower prices in the face of a lack of spot market buying interest from utilities.

Supply constraints in copper; nickel trough likely; Evolution Mining deal a sign of more M&A to come; and oil market themes.

Macquarie believes uranium inventories are building across the globe, suggesting near term downside risk for the spot uranium price.