Weekly Commodities Market Wrap
ENERGIES - Coal continues to outperform the rest of the energy complex, although with the northern hemisphere winter nearing an end, the threat of an interruption to Russian energy supplies fades. Crude prices are also shifting higher as $100 Brent looks to be on the cards once more. Global inflation and supply chain threats continue to ramp up, especially in the US as west coast port operators prepare for tough wage negotiations in July. LNG and natgas prices have softened from Europe through to Japan, although markets remain on edge.
METALS - Most LME metal warehouses once again saw lower stocks and fewer cancelled warrants. Copper prices continue to track sideways, biding their time before our expected rally later in the year. Gold is likewise tracking sideways as central banks continue to lease forward with a bond market offering less stability these days. Aluminium appears to be heading for a shortage amidst worries about energy supply for the energy intensive sector.
INDUSTRIALS - Iron ore continues firm, along with both steel and scrap prices. However, China intends increasing domestic ore production and its use of scrap to counter reliance on Australian iron ore. Both Russia and China are still highly upset about the recent AUKUS security pact, as evidenced from a recent joint communique from them. Freight prices are slightly stronger on the week with fewer ships needing to find homes at the moment.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation