Tag Archives: metals
Will the S&P GSCI Electric Vehicle Metals Outperform with Copper Leading the Way?
Recent bullish fundamentals appear to be falling in line for the electric vehicle metals space. A decade of weak metals prices has led to underinvestment by miners and refiners, as private investment and bank financing support waned. In 2022, S&P Global released a comprehensive report on copper outlining the current trending Rocky Road supply scenario…
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Commodities Could Not Escape the Sea of Red Seen Across Asset Classes in February
The S&P GSCI, the world’s leading commodities benchmark, could not escape the volatile markets experienced in February, as the index fell 3.83% for the month. Despite recent declines, inflation remained high, which kept the U.S. Fed steadfast in its rate-hiking campaign, and expectations for a possible easing by year-end 2023 were squashed in the latest…
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Introducing the First Benchmark Commodity Index Incorporating Environmental Metrics, the S&P GSCI Climate Aware
As the world continues to focus on sustainability and the energy transition, it is understandable that market participants are seeking to incorporate sustainability considerations into their commodities portfolios. To that end, on Feb. 23, 2023, S&P Dow Jones Indices (S&P DJI) launched the S&P GSCI Climate Aware, utilizing a new environmental dataset developed in collaboration…
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Industrial Commodities Push the S&P GSCI Lower in August
The S&P GSCI declined 2.3% in August, as industrial commodities retreated in line with a surge in COVID-19 cases attributed to the Delta variant, as well as signs that China intended to dampen industrial production to curb carbon emissions. In contrast, performance across the soft commodities was impressive, with a variety of production-related disruptions elevating…
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Commodities Rise with Inflation in July
The S&P GSCI rose for a fourth consecutive month, by 1.6% in July, as the main positive catalysts of 2021 remained in play. Many individual commodities constrained by supply chain bottlenecks and disruptions continued to be in deficit around the world. Half of the U.S. experienced drought conditions last month, compared to 25% this time…
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Reflecting on the Inflection Points of 2020
Last year might end up being known as the year of countless inflection points. Narratives that were playing out over months and years were accelerated or reversed with volatility not seen since World War II. Among commodities, there were new all-time highs hit in gold and new all-time lows that reached into negative territory for…
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Industrial Commodities Benefit from Hopeful COVID-19 Vaccine News
November proved to be a good month for risk assets, including commodities. The headline S&P GSCI rose 12.0%, outperforming the S&P 500®, which gained 10.8%. Promising developments on the COVID-19 vaccine front and the U.S. election outcome rewarded risk assets such as energy and industrial metals, while safe-haven assets like gold lost some luster. The…
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Energy Drags Commodities Lower in October
The headline S&P GSCI fell 3.6% in October. Energy was responsible for the bulk of the declines in October, while agriculture continued to benefit from the return of demand from China, as well as weather-related supply issues. Across the energy complex, the rising number of COVID-19 infections, a second wave of lockdowns, and travel restrictions…
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A Second Wave Sinks Commodities in September
The headline S&P GSCI fell 3.6% in September on the back of growing concern regarding the prolonged economic impact of a second wave of the COVID-19 pandemic. Across sectors, both industrial metals and energy contracted, while the agriculture and livestock sectors benefited from cursory signs of the return of demand from China. The S&P GSCI…
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No Gas Left in the Tank for Energy Equities
In our blog post from December 2019,[1] we highlighted the disparity seen last year between different sectors of the commodity futures and commodity equities markets. The second thing to watch highlighted the substantial 25% performance difference in 2019 between the S&P GSCI Energy and the S&P GSCI Equity Commodity Energy Index. However, so far in…
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