China has published details of its first round of auctions of non-ferrous metals from its state reserves. The market response was underwhelming at best. The National Food and Strategic Reserves Administration stated that it would auction 20,000 tonnes of copper, 30,000 tonnes of zinc, and 50,000 tonnes of aluminum on July 5-6. The unique auction …
China`s first round of auctions fails to impress Read More »
Goldman Sachs stated it no longer viewed China as the center of commodities pricing, reflecting the pace of demand recovery in developed markets implied Beijing as Western consumers have crowded out buyers. The bullish commodity thesis is neither regarding Chinese speculators nor Chinese demand increase. It is about lack and the DM-led recovery, and the …
China is no longer center of commodities pricing Read More »
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 …
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 …
According to the latest news, Japan’s export increased the most since 2010 in April. Meanwhile, capital spending perked up on increasing global demand for cars and electronics. It lifted expectations that an improvement in trade could help lead Japan’s economy back to growth. Additionally, brightening the outlook, confidence among the nation’s manufacturers reached a more …
Japan’s export increased the most since 2010 in April Read More »
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, …
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 …
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 …
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 …
Metals prices are coquetting with record levels, agricultural markets are trading at multi-year highs, and oil has staged an effective recovery. The post-coronavirus rally is bullish for commodities. Nevertheless, what is less clear is whether we can name this a super-cycle. We continue more comfortable terming it a cyclical uplift. Copper prices are in a …
Commodities buoyant while supply worries are still a concern Read More »
Commodities prices surged to new highs as indications of economic recovery raised hopes of renewed energy demand and a lower dollar stoked investor appetite for precious metals. The Bloomberg Commodity Spot Index, which follows price movements for 23 raw materials, increased 0.7% Monday. The index is at levels not witnessed after 2012. Oil, the most …
OPEC+ ministers appear to have operated their meeting, listed for today early. OPEC later published a press statement that the group met on Tuesday. Nevertheless, the surprises end there, with the group choosing to boost oil output within May and July gradually. This easing will notice approximately 2.1MMbbls/d of supply taken back onto the market …
Throughout the past Iranian week (closed on Friday), 740,132 plenty of commodities priced at $513 million were traded at Iran Mercantile Exchange (IME). The general public relations and international affairs Department of the exchange stated. In the past week, IME traded 378,696 loads of commodities priced at almost $305 million on its mineral and industrial …
More than 740k tons of commodities traded at IME in a week Read More »
Gold futures ended more above Tuesday, getting a pull from a retreat in Treasury yields, but prices disappointed to recoup their loss from the prior session. Gold prices have risen after marking a double-bottom March 30, stated Adam Koos, president of Libertas Wealth Management Group, leading to a chart pattern that signals a possible bullish …
Gold prices finish higher amid a retreat in bond yields Read More »
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