The Baltic Exchange’s dry bulk sea freight index extended it’s gains to third straight winning session Monday. The BDI rose 3.6% to 2,645 its highest since November 15th. On June 17th the index was at 2,426. Despite recent volatility in vessel rates, dry bulk spot rates are expected to stabilize in November-December before a “seasonally soft” first quarter of 2022, shipbroker Jefferies said in a weekly note. The Baltic Dry Index (BDI) is a composite of the dry bulk timecharter … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Recovers Off Five Month Low As Chinese Steel Futures Prices Jump”
The Baltic Exchange’s dry bulk sea freight index extended it’s losing streak to five straight sessions Wednesday. The BDI fell 161 points or 6.2% to its lowest level in more than five months. On June 8th the index was at 2,430. Rates slipped across all vessel segments. The BDI is a composite of and factors in rates for Capesize, Panamax and Supramax Timecharter Averages. It is reported around the world as a proxy for dry bulk shipping stocks as well … Continue reading “Baltic Exchange’s Dry Bulk Sea Freight Index Falls To Five Months Low”
Futures and commodities contined to be volatile in October of 2021 as energy markets ran roughshod. The biggest gainers were safehaven elements such as precious metals silver, platinum and palladium along with foodstuffs such as grains. The weakest was VIX as you would expect with US stock indices at record highs
China controls the majority of rare earths and is looking to assert greaater control over the sector. It will combine three rare-earths producers to create a single state-owned company with nearly 70% share of domestic production with a American companies dependant on rare earths the motive is clear.
Freeport-McMoRan, the world’s biggest publicly listed copper producer more than than tripled its profit in Q3. Higher copper prices and an increase in demand for the metal at a time when copper inventories are plunging. $FCX has been repaying debt and distributing dividends from the surge in revenues.
Australian mining giant Rio Tinto Group(RIO)on Friday announced it is delaying first production for the Oyu Tolgoi copper mine in Mongolia by three months to January 2023. $RIO is developing the mine with Canada’s Turquoise Hill Resources (TRQ.TO) in a joint venture.
Sweden’s Oatly Group is facing headwinds of oats futures near a 7-1/2 hear high. Drought slashed supplies from top global supplier Canada at a time of robust demand for the grain. $OTLY is expanding beyond milk to ice cream, yogurt, cooking creams, spreads and on-the-go drinks Swedish-based Oatley is the world’s original and largest oat milk company with offerings of milk to ice cream, yogurt, cooking creams, spreads, and on-the-go drinks. The company has run into headwinds with food supply … Continue reading “Oatly Group World’s Original and Largest Oatmilk Company Running Into Headwinds With Record High Oats Prices”
A key guage of Commodities prices which tracks 23 energy, metals and crop futures contracts continued to surge higher over record highs set in 2011. Incredibly since hitting a four-year low in March 2020 the index has surged more than 90%.
Mercedes-Benz has announced it is joining Stellantis and Total Energies in newly established European battery cell manufacturer Automotive Cells Company (ACC). The automaker are taking an equity stake with the aim of becoming a full battery electric vehicle (BEV) brand.
Australia’s agriculture industry will produce a record $73 billion worth of produce in 2021-22 up from $66.3 billion in 2020-21 the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARE) September crop report released Monday said