Global commodity prices staged a comeback this past week after the dollar failed to hold onto recent gains and rising stock markets helped to drive renewed risk appetite. The weaker dollar was led by the British pound which is headed for its best week since January following a week of Brexit drama in Parliament. The […]
Glencore has become the latest energy heavyweight to succumb to climate change pressure and has announced it will stop raising its coal production capacity, CNBC reports. The Swiss company’s current thermal coal production capacity is 150 million tonnes annually, which makes it the biggest single exporter of the commodity. But as pressure mounts on the energy […]
Base metals have lost as much as a fourth of their value in the last two months owing to weak global demand in the wake of escalating trade war between the United States and China. The base metals index (LMEX) on the benchmark London Metal Exchange (LME) has slumped 17.5 per cent since the drawdown started on June 7, this […]
Global non-ferrous metal prices are likely to remain elevated due to various issues ranging from trade sanctions, plant closures, and gradual degradation of ore quality – all of which would contribute to keep metal supplies constrained, says an ICRA report. The aluminium market has remained in deficits in the last four quarters because of capacity […]
Hindustan Zinc Limited (HZL), India’s largest zinc and silver producer, is planning to increase production of silver from 556 tonnes in 2017-18 to 1,000 tonnes in the next 3-4 years, according to a report in the Business Standard newspaper. Earlier this week, the company announced its silver refinery had been recognised by the London Bullion Market […]
A slight dip since New Year notwithstanding, the price of copper ended 2017 near a four-year high of $7,260 per tonne, extending the bull run in the red metal for a second year. Measured from its multi-year lows struck at the beginning of 2016, copper has gained more than 70 per cent in value. The […]
After decreasing nearly 20% in the first half of 2017, the spot energy index in the Standard and Poor’s (S&P) Goldman Sachs Commodity Index (GSCI) ended 2017 16% higher than the beginning of the year, thanks to higher crude oil and petroleum product prices in the second half of the year, the U.S. Energy Information […]
Prices for energy commodities – which include oil, natural gas, and coal — are forecast to climb 4 percent in 2018 after a 28 percent leap this year, the World Bank said in its October Commodity Markets Outlook. The metals index is expected to stabilise in the coming year, after a 22 percent jump this year […]
For the first time in around seven years, industrial production were currently uniformly firm in the advanced economies, emerging economies and in Africa and the Middle East, Australia’s Department of Industry, Innovation and Science said, adding that this had helped propel resource commodity prices higher. Unfortunately, the high prices that have bolstered Australia’s resources and […]
A key performance gauge for the commodities sector — the S&P GSCI Index — logged its first quarterly climb of the year, putting it on track for its second consecutive yearly gain, with energy and metals posting the biggest increases. Some of these sectors should continue their rise in the final quarter. The index, which […]
