Other Commodities
Demand from China helps the soybean market
November soybean futures (S\\\1: COM) hovered + 1.5% at $ 10,435 a bushel, the highest since May 2018 and a 16% increase since August, driven by heavy purchases by Chinese importers. Soybean sales to China for the marketing year, which began on September 1, …
Saudi Aramco is coming up as the biggest loser of the oil price war
Anyone who was even halfway smart knew that the last Saudis-instigated oil price war would end in grave failure for the Saudis, just like previous efforts in 2014-2016 and for exactly the same reasons. For Crown Prince Mohammed bin Salman (MbS), one of the …
BP does not expect oil demand to grow
The world is behind the era of growing demand for crude oil, BP said in its annual energy outlook report released today. According to media reports, the message of the outlook is that oil consumption may never reach pre-pandemic levels, not just because of the …
Libya´s production increase could mean trouble for OPEC
OPEC turns 60 today, but the celebrations have been postponed amid the ongoing pandemic. The combination of the destruction of demand from COVID-19, a troubled global economy and volatile demand for energy are worrying about the recovery in oil prices. At the …
Gold mining companies still hesitant to increase production
The world's leading gold mines are declining after Covid-19-related shutdowns despite record prices for the yellow metal, with cost-conscious executives prioritizing investor returns over production growth. Gold prices have soared 30 percent to about $ 2,000 …
Price for iron ore hits a new 6-year high
Iron ore prices hit new six and a half year highs on Monday as a result of the Chinese construction and factory expansion boom. According to Fastmarkets MB, 62% of fees imported into northern China at $ 130.17 per ton changed hands on Monday, 1.4% more than …
Copper Prices continue their journey north
A good part of the bull's history for copper this year has been supply-side fear. The world's largest mines are in South America, which has suffered a catastrophic coronavirus infection. It is true that China's recovery played a role in the case of the …
Hurricane Sally forces Louisianas oil industry to shut down
The US government says that 21%, or 395.8K bbl / day, of offshore crude oil production and 25%, or 685M cf / day, of natural gas production in the Gulf of Mexico have been closed since Tropical Storm Sally closed before its expected landfall Tuesday morning …
Demand for Electric Vehicles outpaces the battery metal production
Almost 800 kt LCE of additional lithium would have to go online over the next five years to meet the needs of the battery sector, according to a new report by Wood Mackenzie. The market analyst's forecast is based on his own Accelerated Energy Transition (AET) …
Kodiak discovers high grade copper mineralization
Kodiak Copper Corp. reported Thursday that his team has discovered a significant high-grade copper-gold extension of the recently discovered gate zone on its 100% owned MPD copper-gold porphyry project in southern BC. The company measured 282 meters grading …