If stocks deplete, copper prices could rise above $20,000 a ton, Bank of America research says. Debate about a commodities super-cycle is growing.
Saltwater pools may be a saving grace for pool owners affected by a major chlorine shortage this summer.
Copper demand and prices will rise as clean energy and sustainability become the focus ahead of the deadline of the Paris Agreement.
Hershey’s move into cocoa futures trading pushed the market into chaos this month and boosted prices to record highs. The candy producer bought cocoa beans through the ICE Futures exchange in mid-November, Bloomberg reported Friday. The trade allows Hershey to obtain cocoa at lower prices, as chocolate producers typically buy […]
The International Energy Agency cut its forecast for oil demand growth by 400,000 barrels a day to show a decline of 8.8 million barrels per day this year. “It is far too early to know how and when vaccines will allow normal life to resume. For now, our forecasts do […]
Gold rose Thursday, heading for its second daily gain in a row after plunging the most in seven years on Tuesday. Tuesday’s slump was set off by rising US bond yields. Both gold and silver have reversed course after a week of volatile trading and are trending higher again. Watch […]
Spot Gold briefly touched a record high of $US2,000 an ounce on Tuesday amid a rally for the commodity. Traders piled into the so-called safe-haven asset on hopes that another US stimulus bill is in the works. An additional bill could put further liquidity into markets and weigh on rates, […]
Investors have piled into gold ETFs this year, flocking to the so-called safe-haven asset as the coronavirus pandemic rages on. Worldwide, holdings in gold ETFs gained to 3,365.6 tons Monday, Bloomberg reported. That surpassed the number of tons held by Germany. Only the US government, which holds more than 8,000 […]
Silver exploded 7% on Tuesday, likely driven by positive news from promising COVID-19 vaccine candidates and the European Union’s $US860 recovery package aimed at long-term investments. The commodity may benefit from the “buy-everything” global reflation trade prevalent in markets this week, a market analyst at OANDA said. “The reopening trade […]
Now here’s a chart to bolster the spirits of commodity bulls around the world. From Macquarie Bank, it shows the relationship between global industrial production growth compared to manufacturing purchasing managers indices (PMIs) over the past five years. According to Macquarie, the global weighted average of manufacturing PMIs hit 54.5 […]
Iron ore markets fell heavily on Monday, dragged lower once again by weakness in Chinese steel prices. According to Metal Bulletin, the spot price for benchmark 62% fines tumbled 3.27% to $55.90 a tonne, completely reversing a similarly-sized surge on Friday. It has now fallen 29.1% this year, leaving it […]
Commodities are suffering yet another of their China meltdowns, but this time it could be more threatening warns JPMorgan. That isn’t good news for Australia’s budget, which was delivered this week and set out in some detail the impact that different price scenarios could have on forecast taxation receipts. Even […]
Oil prices slumped below $US45 a barrel — levels last seen in November 2016 when key OPEC producers agreed on production cuts. Concerns of a supply glut, thanks to soaring U.S. oil production, appears to have more than negated moves by OPEC members and 11 other large producers to cut […]
Australia’s trade surplus fell more than expected in March, potentially hurting first-quarter economic growth. The trade surplus stood at $3.1 billion compared with a revised $3.7 billion in February and expectations for $3.3 billion, government statistics showed. Export values lifted 2.4%, driven by higher commodity prices and expanded services exports, […]
The Australian dollar dropped to its lowest level in almost four months as commodity prices dropped and the US Federal Reserve indicated it is not concern about the American economy, boosting the greenback against its major peers. The Aussie dropped to $US0.7423 in the previous session and was little changed […]
Research from RBC Capital Markets shows that China’s Liquefied Natural Gas (LNG) imports have recently spiked. According to RBC, China imported 3.4 million tonnes of LNG in January, up 39% on the previous period, the second highest monthly import number on record. The result comes on the back of record […]
BHP Billiton’s half yearly results announced on Tuesday underscored the boom and bust cycle of mining profits and commodity prices. The world’s largest miner reported a seven-fold surge in profits, boosted dividends and slashed debt. It posted a $US3.24 billion ($4.2 billion) underlying profit for the six months to December […]