Daily FNArena News - Commodities

Project deferrals and cost cutting from uranium miners have helped the spot uranium price tick higher on a supply-side retreat.

Global oil supply is set to outrun demand while the US approaches the unusual position of being the world’s most significant importer and exporter of energy.

Jonathan Barratt of Barratt’s Bulletin is among those disappointed with a lack of reform announcements from China, suggesting a long-expected bounce in copper is some way off.

Copper appears to be following iron ore’s theme and zinc prices are looking better. Analysts also take a look at China’s coal imports and industry.

Eager sellers were taken out by some renewed buying interest in spot uranium last week, affecting a rebound in the spot price.

Ahead of the Herd’s Rick Mills suggests why in a world of exponential population growth and urbanisation, the only way for the copper price to go is up.

China’s steel market feels the impact of environmental regulations, excess supply of aluminium is likely to continue and US and European oil markets remain weak.

Jonathan Barratt of Barratt’s Bulletin has been stopped out of gold longs and with important data due from the US, believes the sideline is the safest place to be.

The next two years of anticipated strong steel production in China will underpin iron ore prices.

Spot uranium is suffering from a rush of traders trying to unload unwanted material by year-end.