Weekly Commodities Market Wrap
ENERGIES - Coal continues strong although a market correction is imminent once European physical supplies are assured. The current strong physical premiums being enjoyed are likely to align back to paper market levels, especially considering that natgas, power and carbon markets were softer on the week. Crude oil is likely to remain volatile as Brent toys with the $100 mark once more.
However, going into the shoulder of the northern hemisphere winter, we may be seeing pressure starting to ease, although market nerves remain shattered.
METALS - Copper prices have surged while the rest of the base metal complex also performed. LME stock levels, with the exception of cobalt, are all lower on the week as warehouse drawdowns continue. Precious metals are slightly over-extended to the topside now and should see some softening as geo-political tensions come off the boil. Silver is however seeing sustained industrial and investor interest.
INDUSTRIALS - Iron-ore also remains robust with confidence building on the back end of the curve for sustained price levels. The sector is seeing strong demand from the industrial sector, notably wind turbine manufacturers. Chinese hot rolled coil is also firmer across the curve, whilst the steel scrap sector is looking at even firmer demand some two years out.
Freight prices are firmer although shippers remains nervous as any war with Russia would immediately seize demand for cargoes.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.
VISIT SHOWROOM
FLANDERS Southern Africa provides integrated solutions for mining and industrial operations, covering field services, automation, electrification,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
