Quick Look Frontier Lithium partners with Mitsubishi, shares soar by 15%. Mitsubishi acquires a 7.5% stake in Frontier with an option to increase to 25%. PAK Lithium Project in Ontario, a key focus of the joint venture. Rio Tinto eyes Canadian lithium amidst volatile market conditions. US energy storage sees a 59% increase in new …
Frontier Lithium & Mitsubishi Venture: Shares Jump 15% Read More »
Quick Look Gold (XAU) prices slightly declined to $2,081.11 per ounce, staying close to a two-month peak. Last week’s approximately $50 surge hinted at softer inflation and potential interest rate cuts. The market anticipates a Federal Reserve rate cut in June, with probabilities increasing to 74%. Gold’s outlook remains bullish, with a keen eye on …
Gold Hits $2,081, Eyes Record Highs Amid Fed Speculations Read More »
Quick Look Natural gas production has significantly surpassed storage capacity growth over the last decade. Historical lows in prices were observed, with Henry Hub’s daily price averaging $1.50/MMBtu in early February 2024. Record gas production in 2023, amidst one of the warmest winters, led to the lowest prices in decades. Significant market volatility was noted, …
Quick Look LME Nickel prices increased by 0.5% to $17,685 per metric ton, with an 8.7% monthly gain. SHFE May Nickel Contract rose 1.6% to 137,530 yuan ($19,115.46), marking a 7.6% monthly increase. Supply concerns in Indonesia and Russia, alongside speculation of sanctions, have contributed to price volatility. Comparative analysis shows mixed performance across base …
Nickel Prices Surge 8.7% Amidst Global Supply Fears Read More »
Quick Look Copper treatment charges in China hit a low of US$19.8/ton, the lowest since 2013, indicating smelting overcapacity. China’s refined metal output reached a record high in December, driven by demand from the green energy sector. Annual contracts for copper treatment are set at US$80/ton for 2024, marking a 9% year-on-year decline. LME copper …
Quick Look Bangladesh sees price increases in essentials despite government efforts to reduce import duties. Prime Minister of Bangladesh blames hoarding for price hikes; market trends show significant increases in onion, sugar, and beef prices. Indonesia’s Bulog confirms ample rice stocks; government launches Cheap Food Movement to combat rising rice prices. Both countries face challenges …
Essential Food Prices Surge Ahead of Ramadan in Indonesia Read More »
Quick Look Brent crude futures dipped to $81.48 a barrel, while U.S. WTI crude dropped to $76.27. A stronger dollar contributed to the fall in oil prices, making oil more costly for other currency holders. Market sentiment is affected by expectations of sustained high U.S. interest rates, impacting fuel demand growth. Geopolitical tensions and supply …
Oil Dips to $76.27 Amid Dollar Strength and Rate Fears Read More »
Quick Look U.S. crude oil inventories surged by 7.2 million barrels, exceeding expectations. Brent crude traded above $83/barrel, with significant movements in oil and gasoline stocks. The global zinc market ended with a surplus, while lead reported a surplus in production over consumption. The gold price forecast anticipates a 6% increase over the next 12 …
Commodity Market: Oil Up 7.2M Barrels, Gold to Rise 6% Read More »
Quick Look Australian metallurgical coal price leaps to $315 per metric ton, marking a 40.3% increase from its 2023 low. India and China exhibit robust import growth, contributing to a dynamic global demand. Australia dominates the global supply, with exports reaching near-record levels in February. The metallurgical coal market faces challenges from environmental concerns and …
Metallurgical Coal Price Rockets 40.3% to $315/Ton Read More »
Quick Look Standard Chartered forecasts a significant call on OPEC at 1.8 million barrels per day. OPEC Secretariat estimates even higher at 2.7 million barrels. On-land inventory levels have dropped to their lowest since 2016, indicating tightening market conditions. The U.S. oil data index reveals a close balance between bullish and bearish readings, signalling market …
Quick Overview Gold’s value remains above $2,000/oz amid anticipation of the Federal Reserve’s interest rate decisions. A decrease in gold ETF holdings by 1 million oz suggests waning expectations for imminent rate reductions. Crude oil prices stay steady, with a cautious eye on developments in the Middle East. Notable declines in Indian imports of crude …
Commodities: Gold and Oil Amidst Rate and Tension Dynamics Read More »
Quick Look ICE Brent and NYMEX WTI futures opened lower in Asian trading amid inflation concerns and geopolitical events. US inflation figures dampen expectations for Federal Reserve rate cuts, with significant revisions to the rate cut outlook for 2024. There are divergent views on oil demand, with the IEA forecasting a slowdown and OPEC predicting …
Oil Prices Wobble: Inflation Fears & Geopolitical Sparks Read More »
Quick Look Hedge funds’ $8.7 billion investment in cocoa futures sparks record price levels. London and New York cocoa prices soar to £4757 and $5888 per ton, respectively. Adverse weather, diseases in West Africa, and speculative trading drive price surges. Despite global price hikes, Ghanaian and Ivorian farmers face delayed financial gains. Other commodities and …
Cocoa Prices Hit Record Highs: $8.7B Hedge Fund Bet Read More »
2023 Crude Oil & Metal Price Trends Benchmark U.S. and Brent crude oil prices see declines, reflecting market adjustments. March delivery for gasoline, heating oil, and natural gas also experience price drops. Gold and copper prices fall, while silver prices buck the trend with an increase. The dollar weakens against the yen and euro, influencing …
Quick Look Gold prices dip below $2000/oz amidst strong US CPI report and Fed rate cut speculations. ICE Brent crude oil sees a 0.94% hike, nearing $83/barrel, amid fluctuating crude inventories. OPEC adjusts oil demand and supply forecasts, signalling a cautious market outlook. Benchmark U.S. and Brent crude prices experience slight increases, reflecting market dynamics. …
Commodity Feed: Gold Dips, Oil Rises; US Agri Trade Falls 11% Read More »
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