Daily FNArena News - Commodities

The spot uranium price continued to drift lower last week as sellers bowed further to a lack of urgency from buyers.

Soggy outlook for coal prices, iron ore subdued and copper struggles. Meanwhile, there’s a chance the central bank agreement on gold sales will come to an end.

Morgan Stanley believes BHP’s valuation premium is jusfified, Merrills upgrades gold forecasts and UBS mulls China’s bauxite supply.

BA-Merrill Lynch has become the latest broker to downgrade uranium price forecasts as another week of little interest passes by.

Chinese growth moderates but stays firm, while coal prices are likely to feel the pinch for longer. The zinc market is unlikely to tighten much and the big rise in nickel prices may have passed.

Unwinding the spin on copper and iron ore financing and contemplating the expenditure shift to onshore oil.

A lack of buyer interest saw the spot uranium price fall further in the week of the third anniversary of the Fukushima accident.

Substantially leveraged resource stocks, subdued copper pricing, iron ore producer costs, nickel improvement and coking coal price downgrade.

Investors are being told not to panic about the recent sharp downward spiral in the iron ore price.

The spot uranium price continues to slip and while analysts still see a future recovery, timescale assumptions are extending.