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923 days ago

Surging electricity prices put pressure on metals producers

Zinc producer Nyrstar NV said Thursday that it’s curtailing output at a major Dutch plant during peak times of day, highlighting how the spike in power prices is jeopardizing metal supply. For regional aluminum producers, electricity costs could equate to as much as 2,000 euros ($2,345) a ton, about 80% of the commodity’s overall price, Eurometaux said. @Bloomberg

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923 days ago

Oil heads for 5th weekly gain on global market tightening

Oil has rallied recently after a period of demand uncertainty due to the rapid spread of the delta variant of the coronavirus, with some of the world’s largest traders and banks predicting that prices could climb even further on the energy crunch. Global crude consumption could rise by an additional 370,000 barrels a day if natural gas remains elevated for an extended time. @Bloomberg

#Commodities

924 days ago

US coal demand is rising, but supply remains tight

Long-term contracts with power generators remain elusive in the sector, leaving many miners reluctant to invest in coal that may not have a buyer in the future. While the forward prices for natural gas remain high for the winter, buyers do not want to get caught with too much coal if gas prices decline. @S&Pglobal

#Commodities

924 days ago

Gold or Bitcoin? Here are the pros and cons

One is a little older than the other and offers at least some kind of price stability, but the other one is easily divisible, is easy to hold, fast to process and can be used in transactions. Gold or Bitcoin, which asset is the right for you? Source: Bloomberg

#Commodities
Gold or Bitcoin? Here are the pros and cons

925 days ago

BHP forecasted earnings fall on China iron ore crackdown

Barring a change in this policy stance, we don’t see any reason why iron ore shouldn’t trade down to marginal cost (c. $80/t), particularly as “blue sky” policies loom in early 2022 for China’s winter Olympics. @BoA

#Commodities
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