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- Written by ThePitBoss
- Category: Commodities
China’s July food prices jumped 9.1% consumer staples pork prices up 27% fresh and fruit prices up 39.1% from a year ago. Overall, China’s consumer inflation rose 2.8% from a year ago and producer prices fell 0.3% from a year ago. Economists say there is no problem.
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- Written by ClemSnide
- Category: Commodities
Glencore PLC is closing its Mutanda mine in Congo, one of its largest copper and cobalt mines. Cobalt hit a peak of near $40 a pound in late 2017 and is now trading at around $12.50 a pound as trade war between U.S. and China hit commodity prices.
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- Written by TradersCom
- Category: Commodities
Recent strength in precious metals and weather affected grains has seen commodities prices largely higher for the first half of 2019, the energy heavy GSCI is up 16.% on the year with the more balanced Bloomberg index up 5%.
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- Written by TradersCom
- Category: Commodities
Soft demand for aluminum and cost deflation has seen LME futures prices in narrow range with low volatility. China is the world’s top aluminium producer and continues to defy low prices as falling alumina costs boost margins.
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- Written by Super Harley
- Category: Commodities
China's Luckin Coffee is making it's first overseas move, opening coffee shops in the Middle East and India after it raised $561 million in May in a U.S. IPO. $LK aims to unseat Starbucks as the No.1 coffee chain in China
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- Written by ClemSnide
- Category: Commodities
Morgan Stanley raised their price forecast for gold on Monday night in a note to customers after the metal hit six month highs. The $MS rationale is much like Goldman in March, higher ETF inflows, geopolitical risk, weaker U.S. dollar and negative real interest rates in Europe.
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- Written by ClemSnide
- Category: Commodities
United States Steel on Tuesday lowered guidance saying will cut production by idling two blast furnaces in the US and one in the EU. $X responded to falling demand for steel from a weakening manufacturing sector. Earnings were also hurt by a coking plant fire and lower Mississippi River barge traffic.
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- Written by ClemSnide
- Category: Commodities
One of the biggest trump cards China has with the U.S. is rare earth metals. The 17 elements that are rare earths are mined in the majority in China and are crucial to the modern economy, Electric cars, military, cell phones and wind farms.
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- Written by ClemSnide
- Category: Commodities
American companies dependant on rare earths, which China controls the majority of, include military companies such as Raytheon Co, Lockheed Martin Corp and BAE Systems Plc. Tech companies such as Apple use rare earths for it's phones.
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- Written by Corporal
- Category: Commodities
Australian rare earths miner Lynas reported a 27% jump in revenue to $101.3 million in Q1 despite a forced shutdown of its Malaysian operations in December. Radioactive waste concerns are clouding $LYC ($LYSCF), who rejected an unsolicited $1.5 billion takeover bid from Wesfarmers.
