LiveWire

The world's most commonly used metal, which laid the foundations of the industrial revolution, has grown into a massive industry turning over $2.5 trillion a year and employing millions of people. However, its production is anything but climate friendly, as iron and steel production account for 7-8% of all direct fossil fuel emissions. As many companies are starting to want to diminish their carbon footprints, it will make the production prices rise. The US and Europe seem to have stricter regulations than China on the matter, where one produces 2 tons of CO2 for each ton of steel produced, while Europe only allows 1. As a result, steel price in the US and Europe have more than doubled under 6 months. There remains questions as to if there are enough reasons for steel producers to make a wholesale shift across the industry. 

The PSEi tumbled 7.4% in January, the worst performance among global equity benchmarks. The slump in large caps pushed investors to take a chance on riskier small caps. Much of the explosion in volume has been concentrated in smaller stocks such as Abra Mining & Industrial Corp., the nation’s most actively traded stock this year, accounting for 81% of the market’s daily transactions. Its shares are up about 70% since the start of January, fueled by return-hungry retail traders and speculation over investor interest in its gold mines. Source: Bloomberg

West Texas Intermediate crude rose 2.2% to $60.77 a barrel placing it in overbought territory. Source: Bloomberg

Diamond prices have rebounded from a coronavirus-driven slump thanks to the reopening of some economies in Asia and strong jewelry sales around the world over the holiday period. Polished diamond prices are up 5.1% from their lowest point in March, putting them at their highest level in nearly a year and a half, according to a gauge compiled by the International Diamond Exchange. -WSJ

Corn and soybean prices have soared as China loads up on American crops. Copper hit an eight-year high amid growing optimism over a broader economic recovery. And oil has staged a strong recovery from the depths of the Covid-19 pandemic as a worldwide supply glut eases.