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Commodities
Iron ore prices slump on improved supply, lower demand
November 12, 2021 04:18 PM AEDT| By Arpit VermaHighlights China forced its steel mills to lower their output during the winter season ahead of Beijing's Winter Olympics. Australia and Brazil have started to loosen tight supplies of iron ore in the seaborne market. The prices of iron ore ar.....
Crude oil settles higher despite a strong dollar
November 12, 2021 01:25 PM AEDT| By Arpit VermaHighlights Crude oil prices settled higher on Thursday. The prices of crude oil rose significantly after OPEC cut its 2021 oil demand forecast. The US data showed that consumer price inflation rose by the fastest rate in the last 30 years at 6.....
European Auribis to invest €300M in US copper recycling plant
November 11, 2021 02:42 PM AEDT| By Arpit VermaHighlights Aurubis AG is ready to invest nearly €300 million to build a copper recycling plant in the US. The plant is expected to process 90,000 tonnes of complex wastes. The project is expected to create more than 100 jobs in the region.....
Crude oil dips on rising US dollar
November 11, 2021 01:26 PM AEDT| By Arpit VermaHighlights Crude oil prices tumbled on Thursday. Both the benchmarks dropped sharply at the end of the session as traders sold riskier assets including commodities and stocks. Consumer inflation data showed that the US prices were rising at a .....
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Copper futures tumble on worries about Chinese property crisis
November 10, 2021 04:22 PM AEDT| By Arpit VermaHighlights Copper prices tumbled on Tuesday due to an ongoing property crisis in China. However, the prices of the red metal grew a day earlier on Monday as the country's export growth beat forecasts. Ease in power crunch and .....
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Crude oil reaches 2-week high on rising demand
November 10, 2021 02:39 PM AEDT| By Arpit VermaHighlights Crude oil reached two-week high levels on Tuesday. Crude oil prices started rallying after the US Energy Information Administration (EIA) projected in its Short-Term Energy Outlook. EIA&nb...
Crude oil climbs up on positive signs of global economic growth
November 09, 2021 02:58 PM AEDT| By Arpit VermaHighlights Crude oil prices rose on Monday. The significant increase in the prices is due to the robust energy demand and lower supplies. Saudi Arabia on Friday raised the prices of its benchmark crude for Asian customers in December. Cru.....
Commodity wrap-up for the week that was
November 09, 2021 01:02 PM AEDT| By Team Kalkine MediaThe global commodity sector continues to consolidate, resulting in a lower Bloomberg Commodity Index for a third straight week. Various data from several sources, notably from China, point to slow growth expectations and have forced investors to be.....
China’s crude oil imports plunge to three-year lows in October
November 08, 2021 12:50 PM AEDT| By Arpit VermaHighlights China’s crude oil imports plunged to the lowest level since September 2018. the country has brought 37.8Mt crude oil in the last month which is equivalent to nearly 8.9Mbpd. Piped LNG and other natural gas imports were 9.38Mt .....
Iron ore rebounds after dipping below US$100 per tonne
November 04, 2021 04:10 PM AEDT| By Arpit VermaHighlights Iron ore prices recovered after tumbling below US$100 per tonne. The prices of metal reached multi-year high levels in May 2021. China is strictly trying to limit its carbon emissions, as a part of the country's long-term goal to at.....
Crude oil dips to 4-week low on rising US stockpiles
November 04, 2021 12:25 PM AEDT| By Arpit VermaHighlights Crude oil reached a four-week low level on Wednesday. The US records higher than expected crude oil inventories. Gasoline stockpiles dipped to their lowest level since November 2017. Crude oil prices tumbled to four-week lows o.....
Crude oil inches lower ahead of OPEC+ meeting
November 03, 2021 12:28 PM AEDT| By Arpit VermaHighlights Crude oil has surged more than 60% in 2021. The prices are currently playing near three-year high levels. OPEC+ meeting is scheduled on Thursday to discuss further crude oil production. Crude oil traded below US$85 per barrel o.....
Gold price firms up on dip in the US dollar
November 02, 2021 01:29 PM AEDT| By Arpit VermaHighlights Gold prices rose on Monday. An ease in the strength of the US dollar pushed the prices of bullion. The strong performance of US equities has dampened the demand for a safe haven. Gold prices rose on Monday with ease in the stre.....
JCB inks multi-billion-dollar deal to supply hydrogen from Australia to the UK
November 01, 2021 03:10 PM AEDT| By Arpit VermaThe construction equipment company, JCB has inked a multi-billion-dollar deal with Australia’s Fortescue Future Industries (FFI) to import and supply green hydrogen from Australia to the UK. Hydrogen fuel | Source: © Mrdoomits | Megap.....
Saudi Aramco records best quarterly since listing on higher oil prices
November 01, 2021 01:06 PM AEDT| By Arpit VermaHighlights Saudi Aramco has released its third quarter results ending 30 September 2021. The Company has recorded a net income of US$30.4 billion during the period. The huge profits of Aramco are underpinned by a rapid increase in the prices o.....
Vale SA records a significant rise in its Q3 earnings
October 29, 2021 02:31 PM AEDT| By Arpit VermaHighlights Vale SA has reported a third-quarter net profit of US$3.9 billion. The miner’s net income tumbled nearly 50% relative to the previous quarter. Vale has also announced that it would buy back nearly 4.1% shares or 200 million ou.....
Oil tumbles on speculations that Iran's supply will resume soon
October 29, 2021 01:03 PM AEDT| By Arpit VermaHighlights Crude oil prices tumble on Thursday. The prices settle at nearly two-week low levels on speculations that Iran's supply will resume. S. crude stocks rose by 4.3 million barrels in the last week. Crude oil prices tumbled on Thur.....
Oil tumbles on rising US stockpiles
October 28, 2021 01:31 PM AEDT| By Arpit VermaHighlights Crude oil prices tumble on Wednesday. The higher-than-expected rise in the US crude stocks forced investors not to hold long positions in crude oil. At the start of the month, OPEC+ decided to gradually increase the output. Cru.....
Gold price tumbles on firm dollar
October 27, 2021 02:51 PM AEDT| By Arpit VermaHighlights Gold prices tumbled on Tuesday. Prices surpassed the mark of US$1,800 per ounce on Monday, the highest since August 2021. Investors have shifted their interest in equities, dimming the appeal of gold. Gold prices tumbled nearly.....
Crude oil rallies to the highest level since 2014 on robust demand
October 27, 2021 12:56 PM AEDT| By Arpit VermaHighlights Crude oil prices rose on Tuesday. The prices reached their highest level since 2014 due to global supply shortages and robust demand. The decision of OPEC+ to gradually ramp up the production has boosted the oil prices. Crude o.....
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