Commodities

Commodities Rise, Led By Agriculture And Energy

According to Freightos, the Port of Yantian (about 25% of China-US ocean volumes) has been operating at only 30% capacity for two weeks now following a coronavirus outbreak, leading container spot rates to rise in nine out of the past 10 weeks

Published ET

Freightos Global Container Shipping Index | Source: Refinitiv

Freightos Global Container Shipping Index | Source: Refinitiv

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NOTABLE GAINERS

  • Freightos Baltic China/East Asia To Mediterranean 40 Container Index up 6.4% (YTD: 97.0%)
  • DCE Iron Ore Continuation Month 1 up 4.7% (YTD: 23.3%)
  • DCE Coking Coal Continuation Month 1 up 4.5% (YTD: 20.2%)
  • CBOE Crude Oil Volatility Index up 3.9% (YTD: -12.7%)
  • Freightos Baltic China/East Asia To North America East Coast 40 Container Index up 3.8% (YTD: 72.4%)
  • SHFE Hot Rolled Coil up 2.9% (YTD: 22.9%)
  • Johnson Matthey Rhodium New York 0930 up 2.8% (YTD: 27.9%)
  • Freightos Baltic Europe To North America East Coast 40 Container Index up 2.8% (YTD: 177.8%)
  • Freightos Baltic China/East Asia To North America West Coast 40 Container Index up 2.6% (YTD: 51.0%)

NOTABLE LOSERS

  • Freightos Baltic North America West Coast To China/East Asia 40 Container Index down -4.6% (YTD: 133.2%)
  • Freightos Baltic North America East Coast To China/East Asia 40 Container Index down -4.3% (YTD: 124.5%)
  • CME Random Length Lumber down -3.6% (YTD: 28.5%)
  • Gold/US Dollar 1 Month ATM Option down -2.5% (YTD: -25.2%)
  • Silver/US Dollar 1 Month ATM Option down -2.5% (YTD: -34.8%)
  • Shanghai International Exchange Bonded Copper down -2.3% (YTD: 22.8%)
  • SHFE Bitumen Continuation Month 1 down -1.8% (YTD: 27.1%)
  • CBoT Soybean Oil down -1.6% (YTD: 62.6%)
  • CBoT Soybean Meal down -1.2% (YTD: -12.2%)
  • CBoT Rough Rice down -1.2% (YTD: 4.3%)
  • CBoT Soybeans down -1.2% (YTD: 17.4%)
  • COMEX Copper down -1.0% (YTD: 27.8%)
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

ENERGY

  • WTI crude front month currently at US$ 70.09 per barrel, up 0.5% on the day (YTD: +44.9%); 6-month term structure in widening backwardation
  • Brent crude front month currently at US$ 72.33 per barrel, up 0.4% on the day (YTD: +40.0%); 6-month term structure in widening backwardation
  • Brent volatility at 27.4, unchanged (12-month range: 24.7 - 58.9)
  • Newcastle Coal (ICE Europe) currently at US$ 126.00 per tonne, up 1.9% on the day (YTD: +56.5%)
  • Natural Gas (Henry Hub) currently at US$ 3.23 per MMBtu, up 0.6% on the day (YTD: +24.0%)
  • Gasoline (NYMEX) currently at US$ 2.20 per gallon, up 0.4% on the day (YTD: +57.1%); 6-month term structure in tightening backwardation
  • Low Sulphur Gasoil (ICE Europe) currently at US$ 588.75 per tonne, unchanged (YTD: +39.0%)
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

BASE METALS

  • Copper (COMEX) currently at US$ 4.49 per pound, down -1.0% on the day (YTD: +27.8%)
  • Iron Ore (Dalian Commodity Exchange) currently at CNY 1,330.00 per tonne, up 4.7% on the day (YTD: +23.3%)
  • Aluminium (Shanghai) currently at CNY 18,840 per tonne, up 0.5% on the day (YTD: +17.9%)
  • Nickel (Shanghai) currently at CNY 131,870 per tonne, down -0.4% on the day (YTD: +6.5%)
  • Lead (Shanghai) currently at CNY 15,420 per tonne, up 0.8% on the day (YTD: +4.4%)
  • Rebar (Shanghai) currently at CNY 4,898 per tonne, unchanged (YTD: +16.1%)
  • Tin (Shanghai) currently at CNY 209,000 per tonne, down -0.4% on the day (YTD: +38.5%)
  • Zinc (Shanghai) currently at CNY 22,360 per tonne, down -0.8% on the day (YTD: +7.5%)
  • Refined Cobalt (Shanghai) spot price currently at CNY 346,500 per tonne, unchanged (YTD: +26.5%)
  • Lithium (Shanghai) spot price currently at CNY 620,000 per tonne, unchanged (YTD: +27.8%)
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

PRECIOUS METALS

  • Gold spot currently at US$ 1,897.94 per troy ounce, up 0.5% on the day (YTD: 0.0%)
  • Gold 1-Month ATM implied volatility currently at 11.63, down -2.5% on the day (YTD: -25.2%)
  • Silver spot currently at US$ 27.96 per troy ounce, up 0.8% on the day (YTD: +6.1%)
  • Silver 1-Month ATM implied volatility currently at 26.71, down -2.5% on the day (YTD: -34.8%)
  • Palladium spot currently at US$ 2,762.89 per troy ounce, up 0.1% on the day (YTD: +13.5%)
  • Platinum spot currently at US$ 1,149.21 per troy ounce, up 0.3% on the day (YTD: +7.9%)
  • Rhodium (Johnson Matthey, New York 09:30) currently at US$ 21,800 per troy ounce, up 2.8% on the day (YTD: +27.9%)
  • Iridium (Johnson Matthey, New York 09:30) currently at US$ 6,300 per troy ounce, unchanged (YTD: +142.3%)
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

AGRO

  • Live Cattle (CME) currently at US$ 117.58 cents per pound, up 0.1% on the day (YTD: +4.1%)
  • Lean Hogs (CME) currently at US$ 122.45 cents per pound, up 0.4% on the day (YTD: +74.2%)
  • Rough Rice (CBOT) currently at US$ 12.95 cents per hundredweight, down -1.2% on the day (YTD: +4.3%)
  • Soybeans Composite (CBOT) currently at US$ 1,548.00 cents per bushel, down -1.2% on the day (YTD: +17.4%)
  • Corn (CBOT) currently at US$ 701.00 cents per bushel, up 1.2% on the day (YTD: +44.4%)
  • Wheat Composite (CBOT) currently at US$ 686.00 cents per bushel, up 0.2% on the day (YTD: +6.8%)
  • Sugar No.11 (ICE US) currently at US$ 17.66 cents per pound, down -0.4% on the day (YTD: +14.0%)
  • Cotton No.2 (ICE US) currently at US$ 87.36 cents per pound, up 0.9% on the day (YTD: +11.8%)
  • Cocoa (ICE US) currently at US$ 2,383 per tonne, up 1.5% on the day (YTD: -8.5%)
  • Coffee Arabica (Colombia Excelso) currently at EUR 3,789 per tonne, down -0.2% on the day (YTD: +19.7%)
  • Random Length Lumber (CME) currently at US$ 1,122.20 per 1,000 board feet, down -3.6% on the day (YTD: +28.5%)
  • TSR 20 Rubber (Shanghai) currently at CNY 10,500 per tonne, down -0.2% on the day (YTD: +5.1%)
  • Soybean Oil Composite (CBOT) currently at US$ 70.38 cents per pound, down -1.6% on the day (YTD: +62.6%)
  • Crude Palm Oil (Bursa Malaysia) currently at MYR 4,050 per tonne, down -1.0% on the day (YTD: +4.1%)
Sources: ϕpost, FactSet dataSources: ϕpost, Refinitiv data

SHIPPING

  • Baltic Dry Index (Baltic Exchange) currently at 2,481, up 2.5% on the day (YTD: +81.6%)
  • Freightos China To North America West Coast Container Index currently at 6,341, up 2.6% on the day (YTD: +51.0%)
  • Freightos North America West Coast To China Container Index currently at 1,208, down -4.6% on the day (YTD: +133.2%)
  • Freightos North America East Coast To Europe Container Index currently at 699, unchanged (YTD: +92.5%)
  • Freightos Europe To North America East Coast Container Index currently at 5,193, up 2.8% on the day (YTD: +177.8%)
  • Freightos China To North Europe Container Index currently at 11,037, unchanged (YTD: +94.9%)
  • Freightos North Europe To China Container Index currently at 1,659, unchanged (YTD: +20.7%)
  • Freightos Europe To South America West Coast Container Index currently at 3,754, unchanged (YTD: +121.9%)
Sources: ϕpost, Refinitiv dataSources: ϕpost, Refinitiv data

CARBON EMISSION ALLOWANCES (CO2)

  • EUA futures front month (European Energy Exchange) currently at EUR 53.78 per tonne, up 0.5% on the day (YTD: +64.4%)

CO2 Permit Prices EEX | Data source: Refinitiv