Iron ore prices have fallen over 12% from a two year high earlier this month over $US145 a tonne to $US127.5 on Tuesday. Prices had risen on expectations of healthy iron ore demand for winter restocking amongst growing optimism that Beijing’s latest round of stimulus to revive China’s troubled property market. China has continued to struggle; shipping has been impacted by the Red Sea attacks as a result commodity prices including iron ore have sold off. Commodity price sensitivity is … Continue reading “Iron Ore Prices Retrace 12% from Two Year Highs, Dragging Aussie Dollar Down”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Year End
The European and British natural gas futures fell back as winter brought snow to much of Europe this week. UK Gas closed at GBp/thm 86.0600 up +4.25% for the week after closing down -13.98%, -10.83% and -7.90% the prior weeks, and down -28.21% monthly. Dutch TTF futures closed around €34.17 per megawatt-hour, up +2.97% for the week after losing -14.01%, -11.26% and -6.78% the prior weeks, and down -27.03% monthly. For perspective European prices are still down more than 80% … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Year End”
Iron Ore at Eighteen Month Highs as China Walks a Tightrope Trying to Save Property Market
Iron ore prices climbed to eighteen-month highs on expectations of healthy iron ore demand for winter restocking amongst growing optimism that Beijing’s latest round of stimulus will revive China’s troubled property market. December futures prices for iron ore cargoes with a 63.5% iron ore content for delivery in Tianjin rose to $139 per tonne the highest since June 2022. The benchmark January iron ore on the Singapore Exchange rose 1.4% to $US137.55 a tonne, up 2.7% for the week. The … Continue reading “Iron Ore at Eighteen Month Highs as China Walks a Tightrope Trying to Save Property Market”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas futures continued to lurch lower this week. UK Gas closed at GBp/thm 83.5300 down -13.98% for the week after losing -10.83% and -7.90% the prior weeks, and down -27.66% monthly. Dutch TTF futures closed around €33.19 per megawatt-hour, down -14.01% for the week after losing -11.26% and -6.78% the prior weeks, and down -27.61% monthly. For perspective European prices are still down more than 80% from all-time highs in August last year. Europe NG … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas futures drifted lower this week after rising strongly over the month. UK Gas closed at GBp/thm 122.62 down -2.51% for the week, up 27.80% for the past month after rising 19.78% for September. Dutch TTF futures closed around €48.06 per megawatt-hour, falling -4.90% for the week, up 25.02% for the past month after rising 16.30% in September. Europe NG storage is at 99.5% of capacity. That is +12.2% vs 5yr average according to data … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas futures consolidated at higher levels this week. UK Gas closed at GBp/thm 127.45 up 1.00% for the week, up 27.01% for October after rising 19.78% for September. Dutch TTF futures closed around €50.53 per megawatt-hour, falling -1.13% for the week, up 27.17% for October after rising 16.30% in September. Europe NG storage is at 98.82% of capacity. That is +11.4% vs 5yr average according to data from Gas Infrastructure Europe and the highest ever … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas futures rose for the third week in a row this week. UK Gas closed at GBp/thm 107.57 up 5.30%% for the week, after jumping 7.19% Friday and rising 19.78% for September. Dutch TTF futures closed around €41.86 per megawatt-hour, rising 5.20% for the week, after jumping 5.34% Friday and rising 16.30% for September. Europe NG storage is at 95.3% of capacity. That is +11.7% vs 5yr average according to data from Gas Infrastructure Europe … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas futures both rose again this week. UK Gas closed at GBp/thm 102.80 up 11.57% for the week. Dutch TTF futures closed around €39.65 per megawatt-hour, rising 9.49% for the week with Europe NG storage is at 94.4% of capacity. That is +12.5% vs 5yr avg according to data from Gas Infrastructure Europe and the highest ever for this time of year and well ahead of the European Union’s Nov. 1 goal. Germany, Italy, Spain … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas futures both rose again this week. UK Gas closed at GBp/thm 92.18 up 8.63% for the week. Dutch TTF futures closed around €36.48 per megawatt-hour, rising 5.72% for the week with EU natural gas reserves at 93.9% of capacity. That is +13.9% vs 5yr avg according to data from Gas Infrastructure Europe and the highest ever for this time of year and well ahead of the European Union’s Nov. 1 goal. Germany, Italy, Spain … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”
Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead
The European and British natural gas both rose again after last week’s pull back after three weeks of rising. UK Gas closed at GBp/thm 90.21 up 4.11% for the week. Dutch TTF futures closed around €35.62 per megawatt-hour, rising 2.42% for the week with EU natural gas reserves at 92.8% of capacity. That is +17.0% vs 5yr avg according to data from Gas Infrastructure Europe and the highest ever for this time of year and well ahead of the European … Continue reading “Into the Maelstrom – LNG and European Natural Gas Outlook for the Week Ahead”