Natixis - Key Commodity Market Themes for 2021

Report

Natixis

Bernard Dahdah ...

Joel Hancock

Key Commodity Market Themes for 2021

The commodities complex entered 2021 on a strong footing, with most commodities rallying in the fourth quarter. Looking ahead to this year, we expect the following themes to influence the commodities in our coverage universe: Cross commodity: A weaker dollar Precious metals: Low rates Base metals: President Biden’ s infrastructure plan; China’s shift from ‘old’ to ‘new’ stimulus; Australia-China tensions. Oil: The s peed of inventory normalisation; Upstream CAPEX cuts; Heightened financial flows Natural Gas: A continuation of seasonal boom-bust pricing dynamics in Europe and Asia.

05/01/2021 9 EN

Provider

Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

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Analysts

Bernard Dahdah

Joel Hancock

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Key Commodity Market Themes for 2021

Where does China stand following the trade war truce?

France, second highest public spendings in the euro area: where do the differences with the others come from?

France, vice-championne des dépenses publiques en zone euro : d’où proviennent les écarts avec les autres pays ?

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