Daily FNArena News - Commodities

The previous week’s sudden 10% jump in the uranium spot price brought out the sellers last week.

The outlook for metals and bulk commodity prices reveals few supply constraints in 2015. Broker views converge on iron ore and diverge on some of the base metals.

The gold market seems more balanced; broker observations on the Denver Gold Forum; lead is in surplus and zinc in deficit; and the outlook for alumina prices.

The safety valve blew on spot uranium prices last week as buyers became more anxious than sellers, leading to a 10% jump in price.

Australia’s oil stocks slump as price eases; China’s thermal coal restrictions create uncertainties; broad sell off in metals; and gold finds consumer support.

The Philippines and ore exports; Deutsche Bank rejigs long-term base metals forecasts; Good Oil Conference delegates upbeat; and Metals X steps up gold production.

Thermal coal exporters from Australia have been dealt another blow as China says no to lower quality.

A delay in the launch of a new Singapore gold contract sees China opportunistically advancing the opening of its own gold exchange.

The spot uranium price continues to rise on uncertainty surrounding strikes, sanctions and start-ups.

Platinum and palladium supply remain weak while gold companies are concentrating on profitable ounces and risks around iron ore are not receding.