Copper prices stepped higher on Tuesday’s trading session as top consumer China sought to ease concerns over financial distress facing its property sector. Futures tied to the red metal surged 3.13% to $3.46 per pound. Accordingly, China’s Banking and Insurance Regulatory Commission urged banks to extend loans to qualified real estate projects. The move came …
On Monday, wheat futures recovered as Russian missiles hit Ukraine’s southern port of Odesa last Saturday. US futures tied to the commodity edged up 3.54% or 26.90 points to $786.80 per metric ton. The attack threatened a deal signed just a day earlier to unblock grain exports from Black Sea ports. Two Russian Kalibr missiles …
Wheat recovers as Russian missiles hit Ukraine’s port Read More »
On Friday, copper prices traded to a two-year low on heightened fears of a global recession. The commodity may still have room to fall before its role in renewable energy provides long-term support. Accordingly, the US futures of the red metal skidded by 2.73% to $3.47 per pound. Similarly, London contracts edged down 1.49% to …
On Wednesday, oil prices remained high as traders anticipated a report of low US crude inventories. The West Texas Intermediate futures gained 1.02% or 1.21 points to $120.70 per barrel. This jump came after reaching its highest settlement since March 8 in the previous session. Similarly, Brent crude contracts rose 0.95% or 1.13 points to …
On Tuesday, coffee prices edged up on concerns that dry conditions in top producer Brazil may lead to smaller bean production. Arabica contracts advanced 1.50% or 3.48 points to $235.88 per pound, hitting a three-month high. Weather reports stated that Minas Gerais received only 9.50 mm of rain last week, or 44.00% of the historical …
On Thursday, wheat prices declined amid hopes that stuck Ukraine grain supplies from the Black Sea region could start moving. Futures tied to the grain edged down 2.06% or 23.40 points to $1,123.80 per metric ton. The contract trailed a drop of 0.56% to $1,148.25 per metric ton yesterday. Nevertheless, wheat prices are still up …
On Friday, natural gas prices declined as European countries replenished their stockpiles, easing concerns over tight supply. Futures tied to the commodity edged down 4.01% or 0.34 points to $7.97 per metric million British thermal units. Accordingly, companies increased their fuel reserves to guard against any potential disruption from Russia, the continent’s top supplier. As …
On Monday, wheat prices significantly soared after India, one of the top producers, banned exports amid the scorching heatwave in the country. The most active futures tied to the grain jumped 5.22% or 61.60 points to $1,242.10 per metric ton. It extended its previous upsurge of 6.35% to 1,241.38 per metric ton. New Delhi announced …
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