The Hecht Commodity Report is one of the most comprehensive commodities reports available today from a top-ranked author in commodities, forex, and precious metals. My weekly report covers the market movements of over 29 different commodities and provides bullish, bearish, and neutral calls, directional trading recommendations, and actionable ideas for traders and investors.Andrew Hecht is a 35-year Wall Street veteran covering commodities and precious metals. He runs the investing group The Hecht Commodity ...

Core Insights - The Hecht Commodity Report is recognized as one of the most comprehensive commodities reports available, focusing on market movements of over 29 different commodities [1] - The report provides various market calls including bullish, bearish, and neutral, along with directional trading recommendations and actionable ideas for traders and investors [1][2] Group 1 - The report covers market movements of 20 different commodities, offering insights and recommendations for traders [2] - The author maintains positions in commodities markets through futures, options, ETF/ETN products, and commodity equities, with positions changing on an intraday basis [3]

Group 1 - The Hecht Commodity Report is a comprehensive source for commodities analysis, covering over 29 different commodities and providing various market calls and trading recommendations [1][2] - Gold's bull market began in 1999 at a price of $252.50 per ounce, surpassing the 1980 high in 2008 and exceeding $1,000 per ounce for the first time in the same year [2] - COMEX gold futures have surpassed $1,500, indicating a significant upward trend in the precious metals market [2] Group 2 - The author of the report actively participates in commodities markets through futures, options, and ETF/ETN products, with positions that can change intraday [3] - The report provides actionable ideas for traders and investors, including bullish, bearish, and neutral calls [1][2]

Investment Rating - The report rates the industry as Attractive [3] Core Insights - The report indicates a preference for gold, steel, and cement in the near term, with expectations for more opportunities in metals during the second half of the year [6][3] Summary by Sections Commodities Forecasts - Morgan Stanley's forecasts for various commodities show differences from consensus estimates, with notable projections for: - Aluminium: $2,631 per ton vs. consensus $2,602 (1% higher) for CY2025 [9] - Copper: $9,234 per ton vs. consensus $9,397 (2% lower) for CY2025 [9] - Gold: $3,289 per ounce vs. consensus $2,859 (15% higher) for CY2025 [9] Steel Industry - Key drivers for steel demand in China for 2025 include: - Machinery (30%) - Infrastructure (17%) - Residential property (14%) [15] - The steel consumption index shows fluctuations, with a YoY change indicating a decline in apparent consumption [16] Copper Industry - Major demand drivers for copper in 2025 are: - Power (47%) - White goods (15%) - Auto (10%) [19] - The copper consumption index reflects a positive trend in demand, with significant contributions from grid investments [21] Aluminum Industry - The aluminum demand drivers for 2025 include: - Property (22%) - Passenger vehicles (18%) - Power (20%) [23] - The aluminum consumption index indicates a steady increase in demand, particularly from the property sector [25] Infrastructure Spending - Infrastructure spending has shown a 10.8% YoY increase in the first four months of 2025, with significant contributions from utility and transportation sectors [29] - The report highlights that infrastructure investments are partially offsetting the slowdown in property new starts [43] Market Trends - Weekly shipments of cement and rebar in China indicate a steady demand, with a focus on East China [44][45] - Construction new orders are closely monitored, showing trends that correlate with steel and cement demand [49][53]