July 8, 2024

Minerals & Energy Outlook: July 2024

NAB’s Non-rural Commodity Price Index declined in Q2

Overview

  • Volatility in commodity markets continued in June, with a sharp correction in base metals, following the speculative surge recorded in May.
  • NAB’s Non-rural Commodity Price Index declined in Q2 – down by around 7.0% qoq in US dollar terms – as weaker trends for steel making commodities more than offset stronger gold, base metal and energy prices.
  • We continue to see a broadly unfavourable economic environment for commodity markets. China’s domestic demand remains subdued, advanced economy activity is constrained by restrictive monetary policy and trade tensions are rising.
  • We have made modest upward revisions to the forecasts for LNG and zinc this month – resulting in a slightly smaller annual decline in our index. NAB’s Non-rural Commodity Price Index is forecast to fall by 10.8% in 2024 in US dollar terms, and a further 14.0% in 2025 – led by coal and iron ore.

Find out more in the Minerals & Energy Outlook (July 2024)

Accelerating diversity at NAB industry eventAccelerating diversity at NAB industry event

Accelerating diversity at NAB industry event

31 March 2025

NAB specialists and clients from across the bank’s Fund Sponsors, Strategic Investors and Alternative Assets (FSA) business gathered over lunch recently to share career stories and advice on promoting greater diversity and inclusion.

Accelerating diversity at NAB industry eventAccelerating diversity at NAB industry event
Inside the return of corporate hybrid issuanceInside the return of corporate hybrid issuance

Inside the return of corporate hybrid issuance

31 March 2025

Hybrid issuance is becoming an ever more relevant funding instrument and capital management tool for corporate issuers today, attracting strong investor demand, write Tabitha Chang and Stefan Visser from the NAB Capital Markets Origination team.

Inside the return of corporate hybrid issuanceInside the return of corporate hybrid issuance