Daily FNArena News - Commodities

Have resource equities overshot? Potential for short term improvements in some metals prices but brokers subdued about the longer term.

The month of June saw emerging buying interest from utilities, particularly in the mid-term uranium market.

Slumping prices are generating pain across a range of commodities, while nickel appears better positioned for some upside.

Japanese restarts should become a reality in the next couple of weeks as uranium term market interest builds but the spot price remains unchanged.

Alumina pricing pressure; aluminium & steel producers hold up; iron ore rally ebbs; coking coal depressed; nickel inventory builds.

The brief burst of activity sparked by ERA’s deferral of its Ranger Deeps project gave way last week to a more familiar lack of interest.

Bulk trends mixed; Oz miners underperform; alumina to weaken; nickel, zinc prices on the rise; steel decline to continue.

ERA’s announced deferral of its Ranger 3 Deeps project and buying interest from utilities helped breathe some life into the spot uranium market last week.

Upside for LNG prices; iron ore rally unsustainable; curtailments continue in coking coal; copper processing costs slump; alumina in China.

The spot uranium price managed to tick higher last week despite little interest, while lower uranium prices are gradually leading to consolidation in the global uranium industry.