Australia’s coal exports hit a record high A$56.5 billion ($44.21 billion) in 2017, the previous record was A$46.7 billion in 2011. Exports from New South Wales and Queensland of thermal and metallurgical coal were up 35% year on year.
Australian Iron Ore Exports To China Hit Six Month Low
Australian Iron ore exports to China from the world’s largest export terminal, Port Hedland fell to six-month low in January. Exports were affected by Cyclone Joyce, China bottlenecks and year end. Port Hedland Terminal Source: Shipping News Iron ore shipments to China in January from the Port Hedland terminal fell 11.3 percent from a month ago to 34.7 million tonnes, their lowest since July, port data released showed. However whilst that is significantly lower than the 39.1 million tonnes in … Continue reading “Australian Iron Ore Exports To China Hit Six Month Low”
Australian Iron Ore Exports To China Hit Six Month Low
Australian Iron ore exports to China from the world’s largest export terminal, Port Hedland fell to six-month low in January. Exports were affected by Cyclone Joyce, China bottlenecks and year end.
Copper Earnings Boost Freeport McMoRan Shares
Freeport-McMoRan $FCX, the world’s biggest publicly listed copper producer, released its quarterly results before the markets opened on Thursday. The strength in copper has been boosted by a weaker USD and China’s economy.
Lithium Producers Slide on SQM Chile Supply Increase
Sociedad Química y Minera de Chile $SQM finalized a deal to expand production at one of the biggest sources of lithium in a drawn out deal with the Chilean economic development agency (CORFO). The deal saw Lithium producer’ stocks sold off hard on new supply.
Goldman Sachs Currency, Fixed Income & Commodities Trading Earnings Sink Further
Goldman Sachs America’s largest investment bank reported better than expected fourth quarter earnings before the bell Wednesday. $GS saw a 50% jump in investment income but trading revenue conttinues to sink.
How Will New India Gold & Commodity Options Affect Future Price
India is home to huge demand for gold with buyers subject to speculative market cycles. In a move to allow hedging of this risk the India market regulator moved to allow commodity exchanges to start trading options in 2017.
Stainless Steel Premium Nickel Hits 11 Year High in Europe
The premium for Nickel full plate cathodes hit an 11 year high in Europe Metal Bulletin reported. The premium for the preferred stainless steel type nickel has been rising since June. The price flowed through to Shanghai nickel prices.
Australia Plan To Be World’s Number One Medical Marijuana Supplier
Timing is everything, in a week where Australia’s balance of trade was a surprise deficit and U.S. Attorney General Jeff Sessions moved to dismantle American Medical Marijuana, Australia moved to become the world’s biggest supplier.
Palladium Best Performing Commodity in 2017
Commodities for the most part came to the fore in 2017 led by palladium, rebar, lumber, base metals and oil. The worst performers were orange juice, sugar and natural gas.