Nickel Soars 500% on Chinese Bank Short Squeeze, Trading Suspended

LME suspended nickel trading for at least the remainder of the day Tuesday after Nickel prices roughly doubled to all-time highs Tuesday, up 500% from Friday. Nickel soared over $100,000 a ton to an all-time high on the London Metal Exchange when prices surged around $40,000 in just one hour. The move came from a short squeeze with a major Chinese bank where a unit of China Construction Bank Corp. extra time to pay hundreds of millions of dollars in … Continue reading “Nickel Soars 500% on Chinese Bank Short Squeeze, Trading Suspended”

The Energy Crisis and Volatility See Natural Gas and VIX the Best Performing Futures in January

Futures and commodities had a volatile start to 2022. January was about the energy crisis and interest rates and inflation. This pattern accelerated after the Fed minutes of the December FOMC took hold. This was borne out by the best performing futures being natural gas, VIX and Palladium. Energy was five of the highest gains for the month. The worse were lumber, ethanol and the major stock market indices. For the month S&P and Nasdaq have their worst month since … Continue reading “The Energy Crisis and Volatility See Natural Gas and VIX the Best Performing Futures in January”

Soaring Aluminum Prices Boost Alcoa Earnings to Highest Growth Rate in Over Five Years

Aluminum producer Alcoa reported better than expected fourth quarter earnings on Wednesday. Aluminum has seen prices rise 50% yr/yr. AA reporting quarterly records for adjusted net income and adjusted EBITDA. Revenue rose 38% yr/yr, Alcoa’s highest growth rate in over five years. Alcoa Corp NYSE: AA Reported Earnings After Close Wednesday $2.50 Beat $1.93 EPS AND $3.30 Billion Beat $3.30 Billion Forecast in Revenue Earnings Alcoa reported $896 million in Ebitda in line with estimates. Adjusted earnings of $2.50 a share … Continue reading “Soaring Aluminum Prices Boost Alcoa Earnings to Highest Growth Rate in Over Five Years”

Oats, Coffee, Canola and Lumber Pip Energy as Best Performing Futures in 2022

Agricultural and energy futures and commodities rose sharply pumped by the reopening of economies in 2021 with the Covid -19 knock ons running roughshod over supply routes and employment. The biggest losers were last year’s winners, safe haven elements such as the VIX, treasuries and foodstuffs. Oat Futures closed up 89.74% this year. back in October the United Nations index shows that global food prices recently hit a decade high, oat futures hit an all-time high of $6.36 a bushel … Continue reading “Oats, Coffee, Canola and Lumber Pip Energy as Best Performing Futures in 2022”

Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve

Iron ore had the bears out in full force just a month or so ago, with the China attempt to “destroy Australia”, the shipping crisis and more. Analysts were anticipating demand for iron ore to collapse as China reduced its steel production. Targets were lowered to US$65 to $85 a tonne by many of the larger groups.  Here we are the most actively traded iron ore futures on the Dalian Commodity Exchange for May delivery closed 3.9% higher at 714 … Continue reading “Iron Ore Prices Rise Pre-emptively on Easing Along China’s Property Curve”

Fitch Expects Asia LNG, US Henry Hub Natural Gas, Tin and Lithium to Average Higher in 2022

Fitch Solutions In its latest industry report expects Asia LNG, US Henry Hub natural gas, tin and lithium to average higher in 2022. Fitch expects most other global commodity prices to pull back in 2022 from current levels. Fitch Solutions expects strong prices in 2021 to incentivize production in 2022, in particular in agriculture. The energy crisis in Asia and Europe and the shift towards Electric vehicles puts a bid on related commodities for the most part. Fitch Solutions said developing … Continue reading “Fitch Expects Asia LNG, US Henry Hub Natural Gas, Tin and Lithium to Average Higher in 2022”

Freeport McMoran Triples Profit With Record Copper Prices

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.

Rio Tinto Delays First Production From Oyu Tolgoi Copper Mine in Mongolia

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.

Mercedes-Benz Take Stake in European Battery Cell Manufacturer Automotive Cells Company

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. 

Aluminum Prices Soar to Ten Year Highs After Guinea Coup Strangles Bauxite Supplies

Aluminum futures prices soared to their highest in more than a decade after a coup in Guinea fueled concerns over Bauxite feedstock supplies. China gets half of it’s supplies from Guinea and is already struggling with output.