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1126 days ago

Crude oil futures are flirting with $65

OPEC decided not to relax supply curbs despite signs of a impending recovery. Saudi Arabia said that it will maintain its 1 million barrel-a-day voluntary production cut. West Texas Intermediate rose a further 1% in Asian trading after surging by more than 4% to the highest close since April 2019 on Thursday. Source: Bloomberg

#Commodities

1127 days ago

Asian coal imports ease in February

The price and demand surge for coal during this colder-than-expected winter is starting to ease, particularly in Asia. Estimations for February by Refinitiv were at 65.59 tonnes, down from 80.71 million tonnes in January. 

#Commodities
Asian coal imports ease in February

1127 days ago

Rare earth miners and uranium producers reap rewards

Shares of MP Materials Corp., the largest U.S. based miner of rare earths, is up more than fourfold since Biden won the election four months ago, compared with an 86% gain in VanEck Vectors Rare Earth/Strategic Metals ETF. Shares in the company, which went public via a SPAC deal in July, rose for a third day and were up 0.7% to $49.8 on Wednesday. Morgan Stanley initiated research on the stock on Tuesday, with a price target of $57. With supply tightening and ESG demand from investors ramping up, uranium stocks such as Denison Mines Corp. have surged more than 70% this year, compared to 23% gain in Global X Uranium ETF. The stock rose 2% on Wednesday. Source: Bloomberg

#Commodities

1128 days ago

Gold is down 17% since August, but up 33% since 2019

Gold is down 17% from its peak last August, but up 33% since the start of 2019. Many investors are starting to call it the poor's man Bitcoin. 

#Commodities
Gold is down 17% since August, but up 33% since 2019

1128 days ago

Commodity trade recommendations from Goldman Sachs

An updated list of cross-commodity, energy and metals trade recommendations

#Commodities
Commodity trade recommendations from Goldman Sachs
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