{"id":995,"date":"2021-01-19T11:18:30","date_gmt":"2021-01-19T10:18:30","guid":{"rendered":"https:\/\/a2kadvisory.com\/?p=995"},"modified":"2021-03-01T09:59:05","modified_gmt":"2021-03-01T08:59:05","slug":"edito-des-commo-come-back-du-cobalt-du-petrole-de-schiste-et-de-linflation","status":"publish","type":"post","link":"https:\/\/a2kadvisory.com\/fr\/2021\/01\/19\/edito-des-commo-come-back-du-cobalt-du-petrole-de-schiste-et-de-linflation\/","title":{"rendered":"Edito des Commo : Come-back du cobalt, du p\u00e9trole de schiste et de l\u2019inflation ?"},"content":{"rendered":"
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On les pensait morts et pourtant, leur renaissance pourrait bien marquer cette nouvelle ann\u00e9e boursi\u00e8re. Je parle du retour en force du cobalt, dont les prix ne cessent de progresser depuis le 1er janvier, du p\u00e9trole de schiste US, qui n’a pas dit son dernier mot et de l’inflation, qui pourrait pointer le bout de son nez, une bonne nouvelle pour les acheteurs d’or.<\/strong><\/p>

2021, l\u2019ann\u00e9e du cobalt\u00a0?\u00a0L\u2019ann\u00e9e 2020 a \u00e9t\u00e9 un bon cru pour les m\u00e9taux industriels, qui ont pleinement profit\u00e9 du boom de la croissance chinoise, prenant de court l\u2019offre des principales compagnies mini\u00e8res, qui ont au contraire rencontr\u00e9 des difficult\u00e9s pour augmenter leur production du fait de la crise sanitaire. Ce vent porteur pourrait bien perdurer cette ann\u00e9e, c\u2019est du moins ce qu\u2019avancent les analystes de chez Liberum. Dans les grandes lignes, baisse du dollar et reprise \u00e9conomique mondiale contribueront \u00e0 maintenir le prix des m\u00e9taux de base, notamment le cuivre, \u00e0 des niveaux \u00e9lev\u00e9s.<\/p>

Toujours dans le registre des m\u00e9taux, le cours du cobalt progresse significativement depuis le 1er janvier. Gardons \u00e0 l\u2019esprit qu\u2019une partie non-n\u00e9gligeable des plans \u00e9tatiques sont ax\u00e9s sur la transition \u00e9nerg\u00e9tique et l\u2019essor de la mobilit\u00e9 \u00e9lectrique, gourmands en batteries et donc en m\u00e9taux. Si la th\u00e9matique des m\u00e9taux strat\u00e9giques vous int\u00e9resse, nous vous avons sp\u00e9cialement dress\u00e9 une\u00a0liste des soci\u00e9t\u00e9s mini\u00e8res qui occupent une place importante en aval des fili\u00e8res du cobalt, du lithium ou encore des terres rares<\/a>.<\/p>

Une histoire sans fin.Dans son dernier rapport, l\u2019OPEP estime que les conditions deviennent plus favorables pour la production de p\u00e9trole de schiste aux Etats-Unis en raison de la hausse des prix p\u00e9troliers. Le cartel se montre ainsi prudent dans ses pr\u00e9visions annuelles, partag\u00e9 entre la flamb\u00e9e des cas de contaminations \u00e0 la Covid-19, mais aussi par le r\u00e9veil de l\u2019un de ses membres, la Libye, dont la production a plus que doubl\u00e9 depuis le mois de novembre.<\/p>

Rappelons que l\u2019Arabie Saoudite s\u2019est une nouvelle fois port\u00e9e volontaire pour r\u00e9duire sa production dans les prochains mois, c\u2019est cette m\u00eame politique qui avait contribu\u00e9 \u00e0 cr\u00e9er une surabondance du march\u00e9 entre 2014, \u00e0 se demander si l\u2019histoire n\u2019est pas vou\u00e9e \u00e0 se r\u00e9p\u00e9ter.<\/p>

L\u2019inflation, nouveau moteur de l\u2019or ?\u00a0La p\u00e9riode s\u2019y pr\u00eate volontiers, le World Gold Council a publi\u00e9 cette semaine les perspectives de l\u2019or en 2021. Rythme de la reprise \u00e9conomique, taux d\u2019int\u00e9r\u00eat bas et pressions inflationnistes sont les ma\u00eetres-mots de leur rapport. J\u2019ai d\u00e9j\u00e0 abord\u00e9 \u00e0 plusieurs reprises les facteurs de soutien \u0153uvrant \u00e0 porter les cours de la relique barbare, je ne vais donc pas insister davantage (\u00e0 lire ici pour les plus int\u00e9ress\u00e9s :\u00a0Les clefs pour comprendre la hausse de l’or<\/a>).<\/p>

La nouveaut\u00e9 vient probablement du c\u00f4t\u00e9 de l\u2019inflation, puisque l\u2019Institut souligne les risques potentiels li\u00e9s \u00e0 l\u2019expansion des d\u00e9ficits budg\u00e9taires des pays d\u00e9velopp\u00e9s, qui, combin\u00e9s \u00e0 un environnement de taux bas et \u00e0 une cr\u00e9ation mon\u00e9taire qui ne cesse de s\u2019\u00e9tendre, peuvent entrainer des pressions inflationnistes. Apr\u00e8s tout, la R\u00e9serve F\u00e9d\u00e9rale et la Banque centrale europ\u00e9enne se sont dites pr\u00eates \u00e0 accepter des objectifs d\u2019inflation sup\u00e9rieurs \u00e0 leur cible traditionnelle.<\/p>

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Source : zonebourse.com<\/a>\/ Image : REUTERS\/Yusuf Ahmad\/File Photo<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

On les pensait morts et pourtant, leur renaissance pourrait bien marquer cette nouvelle ann\u00e9e boursi\u00e8re. Je parle du retour en force du cobalt, dont les prix ne cessent de progresser depuis le 1er janvier, du p\u00e9trole de schiste US, qui n’a pas dit son dernier mot et de l’inflation, qui pourrait pointer le bout de son nez, une bonne nouvelle pour les acheteurs d’or.<\/p>","protected":false},"author":1,"featured_media":998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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Edito des Commo : Come-back du cobalt, du p\u00e9trole de schiste et de l\u2019inflation ?<\/a><\/blockquote>