Who we work for · Research houses
For research desks that need the case the consensus is missing.
Macro and commodity desks, strategy teams and independent research houses commission the supply and demand work behind a view, evidenced to the figure and written white-label, so the desk keeps the client and the byline.
Macro & commodity desks · Strategy teams · Independent research
The practices research desks draw on.
From the principal’s record Case file: A model handed to a ministry →
The method, applied in public
Field Notes on the decisions research desks face.
24 Sept 2026 · China · Iron Ore
China Mineral Resources Group · Platts · Simandou
Seven Trades
Beijing has spent four years and three supply embargoes fighting for control of the iron ore benchmark. It has won the reference, not a lower price, and the lever that will move the price is Simandou.
Value-Chain Series · 8 sources →
24 Apr 2026 · Middle East · Oil
WTI · Brent · Hormuz
28× the oil that exists. Trade the shape.
Paper barrels trade at roughly 28× the physical market. Positioning on the spot price misreads a market whose real signal lives in the shape of the curve, not the level.
Value-Chain Series →