1064 days ago
Commodities of all shapes and sizes - especially industrial metals - are soaring. Booming demand for steel in construction and industry amid supply shortages causing big gains in the base metal.
1064 days ago
Oil prices are at risk of a correction, according to Bloomberg Intelligence analyst Henik Fung, who cited the threat posed by India’s crisis as well as higher OPEC+ supply. The Organization of Petroleum Exporting Countries and its allies are raising output by about 2 million barrels a day through to July. In the U.S., government data showed crude stockpiles contracted by nearly 8 million barrels last week and exports surged, but gasoline inventories rose for the fifth straight week. Separately, pent-up travel demand in the country is seen spurring a 30% jump in jet fuel use this summer.
1064 days ago
ArcelorMittal, the biggest steelmaker outside China said it now expects steel demand this year -- a key barometer for global economic growth -- to be at or above the upper range of its February forecast. It projected an increase in demand of 4.5% to 5.5%, following a contraction in 2020 during the pandemic.
1064 days ago
Source: Bloomberg, www.zerohedge.com
1065 days ago
While soya milk used to be the king of plant-based milk alternatives, it has been slowly declining since 2010 to the profit of other types of plants. Nestlé is jumping on the market with its new pea milk brand Wunda, but it has some catching up to do as companies like Danone already have a solid position on the market.
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