Iron ore price dropped on Wednesday following the Shanghai Futures Exchange promised to look into “abnormal transactions,” ranking on the government’s earlier efforts to temper commodity inflation through information. Iron ore price on the Dalian Commodity Exchange fell 6.1% to 994.50 ($155.59) yuan a tonne, just above the day’s low of 992 yuan ($155.20), its …
Iron ore prices drop as China examines transactions Read More »
Brent was higher 3 cents, or less than 0.1%, to $68.68 a barrel by 1027 GMT, and U.S. West Texas Intermediate (WTI) crude was under 11 cents, or 0.2%, at $65.96 a barrel. Physical demand has been growing in Europe and the United States as a strike in new coronavirus cases has driven up …
China will establish price controls on iron ore, copper, corn, and other major commodities in its 14th five-year plan for 2021 to 2025 to discuss irregular fluctuations in prices, the state planner announced on Tuesday. The country will also watch and analyze commodity prices like crude oil, natural gas, and soybean, the National Development and …
China moved up its fight versus rising commodities prices, gathering top executives to a conference that warned severe punishment for violations varying from excessive consideration to publishing fake news. The government will give zero tolerance for monopoly practice and hoarding. The National Development and Reform Commission stated that top metal producers were invited to a …
China chooses speculators to halt commodity boom Read More »
Iron ore prices dropped on Thursday following China attempted stricter oversight of commodity markets to control exorbitant prices. Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were trading hands for $211.85 a tonne, below 2%, as stated by Fastmarkets MB. September iron ore on the Dalian Commodity Exchange closed daytime trading 5.7% below …
China will increase its management of commodity supply and demand to control “unreasonable” rises in prices and block them from being passed on to consumers. The country’s cabinet stated on Wednesday as it forced coal producers to increase output. As stated by a State Council executive meeting on Wednesday, China will break down on monopolistic …
When headline crude futures surpassed $US70 a barrel on Tuesday, it was singularly the newest landmark in a banner year for uncooked supplies. From copper to iron ore and oil, costs have surged broadly in 2021, as the worldwide economic system arises from the depths of the COVID-19 epidemic and lights up demand. After January, …
The European Union and the United States are to begin talks to discuss the steel tariffs forced by President Donald Trump. In a shared statement Monday, the U.S. and European trade representatives stated they were attending to find answers before the end of the year that will mark the overcapacity in the steel sector. This …
EU and U.S. starting talks on ending steel tariffs Read More »
With many countries fighting with the worsening epidemic as the number of coronavirus cases proceeds to climb over the globe. A commodity boom has developed amid the chaos. The causes for this rally are disturbances in the supply chains worldwide and pent-up demand for some commodities. This is according to speaks OCBC Bank’s economist Howie …
China will propose substantial taxes on imports of light cycle oil (LCO), fused aromatics, and diluted bitumen from June 12, trying to curb imports charged to worsen a fuel surplus and pollute the environment. Authorities in south China have lately cracked down on illegal trade and sales of LCO, a blending fuel for diesel. The …
China closes tax loophole with import for key blending fuels Read More »
It’s been a decade after the last commodity market growth, triggered by China’s development as a world economic powerhouse, eventually ran out of steam. But a wide-ranging rally that has driven the price of critical raw materials including copper, lumber, and iron ore to all-time highs and increased agricultural commodities is feeding expectations that a …
A growing number of gas stations along the East Coast are without fuel as nervous drivers aggressively fill up their tanks following a ransomware attack that shut down the Colonial Pipeline, a crucial artery for gasoline. The panic-buying scares increase the supply shock. As of 9 pm ET Tuesday, 12.3% of gas stations in North …
As investors put bets on the economic recovery, there’s a new craze taking over markets. Around the world, there’s a race to buy metals. What’s happening? China’s benchmark iron ore futures surged an eye-popping 10% to a record high on Monday. In China, the demand picture is exceptionally light, Warren Patterson, head of commodities strategy …
A growing tide raises all boats, but some are larger than others. Industrial metals are burning white-hot in a fusion of post-epidemic manufacturing improvement and an emerging commodity supercycle narrative. Copper has secured all-time highs above $10,000 per tonne, with London Metal Exchange (LME) three-month metal closing trading at $10,350. Tin scored a 10-year high …
Gold prices on Friday flew near a 2-1/2-month high, supported by a pullback in the dollar. NSE 0.70 % and Treasury yields as investors carefully expect U.S. non-farm payroll data for additional cues on the health of the world’s largest economy. Spot gold was even at $1,814.33 per ounce by 0028 GMT, after running its …
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