Industrial Commodities Rise In China As The Market Awaits Update on Further Metal Supply Measures

Gasoline rose sharply today as EIA data showed an inventory draw (when a build was expected) and refinery capacity utilization was down

Published Jun 24, 2021 1:09 AM ET

Dalian Commodity Exchange Coking Coal Front Month Future | Source: Refinitiv

United States, Stock Levels, EIA, Total Crude Oil excluding SPR, Absolute change, Volume for W 18 Jun (EIA, United States) at -7.61 Mln, below consensus estimate of -3.94 Mln
United States, Stock Levels, EIA, Total Distillate, Absolute change, Volume for W 18 Jun (EIA, United States) at 1.75 Mln, above consensus estimate of 1.08 Mln
United States, Stock Levels, EIA, Gasoline, Absolute change, Volume for W 18 Jun (EIA, United States) at -2.93 Mln, below consensus estimate of 0.83 Mln
United States, Production, EIA, Refinery Capacity Utilization, Absolute change, Volume for W 18 Jun (EIA, United States) at -0.40 %, below consensus estimate of 0.50 %

DCE Coking Coal Continuation Month 1 up 4.0% (YTD: 46.2%)
DCE Iron Ore Continuation Month 1 up 3.2% (YTD: 16.3%)
DCE Coke up 2.8% (YTD: -1.1%)
SHFE Bitumen Continuation Month 1 up 2.7% (YTD: 38.7%)
ICE-US Cotton No. 2 up 2.7% (YTD: 10.7%)
SHFE Stannum up 2.5% (YTD: 37.3%)
CBoT Soybean Oil up 2.4% (YTD: 43.4%)
ICE CO2 European Union Allowance (EUA) Yearly up 2.4% (YTD: 67.1%)
EEX European-Carbon- Secondary Trading up 2.3% (YTD: 70.2%)
NYMEX Henry Hub Natural Gas up 2.3% (YTD: 31.3%)
COMEX Copper up 2.3% (YTD: 23.2%)
Shanghai International Exchange Bonded Copper up 2.2% (YTD: 17.2%)
SHFE Rubber up 2.2% (YTD: -6.3%)

Freightos Baltic China/East Asia To North America East Coast 40 Container Index down -4.9% (YTD: 76.0%)
Pork Primal Cutout Butt down -3.7% (YTD: 140.9%)
Gold/US Dollar 1 Month ATM Option IV down -3.6% (YTD: -16.2%)
SMM Rare Earth Yttrium Oxide Spot Price Daily down -3.4% (YTD: 36.6%)
CME Lean Hogs down -2.8% (YTD: 48.7%)
Johnson Matthey Rhodium New York 0930 down -2.5% (YTD: 12.9%)
CBoT Soybean Meal down -2.5% (YTD: -18.5%)
Silver/US Dollar 1 Month ATM Option IV down -2.3% (YTD: -38.7%)
CME Cattle(Feeder) down -1.7% (YTD: 12.1%)

WTI crude front month unchanged at US$ 73.24 per barrel (YTD: +50.6%); 6-month term structure in tightening backwardation
Brent crude front month currently at US$ 75.19 per barrel, up 0.5% on the day (YTD: +45.2%); 6-month term structure in tightening backwardation
Brent volatility at 28.7, down -1.8% on the day (12-month range: 24.7 - 58.6)
Newcastle Coal (ICE Europe) currently at US$ 127.50 per tonne, up 0.2% on the day (YTD: +58.4%)
Natural Gas (Henry Hub) currently at US$ 3.32 per MMBtu, up 2.3% on the day (YTD: +31.3%)
Gasoline (NYMEX) currently at US$ 2.27 per gallon, up 1.9% on the day (YTD: +61.0%); 6-month term structure in widening backwardation
Low Sulphur Gasoil (ICE Europe) currently at US$ 607.00 per tonne, up 1.1% on the day (YTD: +44.3%)

Copper (COMEX) currently at US$ 4.33 per pound, up 2.3% on the day (YTD: +23.2%)
Iron Ore (Dalian Commodity Exchange) currently at CNY 1,325.00 per tonne, up 3.2% on the day (YTD: +16.3%)
Aluminium (Shanghai) currently at CNY 18,840 per tonne, up 1.2% on the day (YTD: +19.4%)
Nickel (Shanghai) currently at CNY 134,990 per tonne, up 2.2% on the day (YTD: +7.5%)
Lead (Shanghai) currently at CNY 15,535 per tonne, up 0.2% on the day (YTD: +5.3%)
Rebar (Shanghai) currently at CNY 4,896 per tonne, up 0.5% on the day (YTD: +13.4%)
Tin (Shanghai) currently at CNY 210,810 per tonne, up 2.5% on the day (YTD: +37.3%)
Zinc (Shanghai) currently at CNY 21,860 per tonne, up 0.4% on the day (YTD: +4.0%)
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%)

Gold spot currently at US$ 1,775.93 per troy ounce, up 0.0% on the day (YTD: -6.3%)
Gold 1-Month ATM implied volatility currently at 13.06, down -3.6% on the day (YTD: -16.2%)
Silver spot currently at US$ 25.81 per troy ounce, up 0.4% on the day (YTD: -1.9%)
Silver 1-Month ATM implied volatility currently at 25.04, down -2.3% on the day (YTD: -38.7%)
Palladium spot currently at US$ 2,617.06 per troy ounce, up 2.1% on the day (YTD: +6.8%)
Platinum spot currently at US$ 1,084.10 per troy ounce, up 0.5% on the day (YTD: +1.5%)
Rhodium (Johnson Matthey, New York 09:30) currently at US$ 19,250 per troy ounce, down -2.5% on the day (YTD: +12.9%)
Iridium (Johnson Matthey, New York 09:30) currently at US$ 6,000 per troy ounce, down -1.6% on the day (YTD: +130.8%)

Live Cattle (CME) currently at US$ 122.50 cents per pound, down 0.5% on the day (YTD: +8.5%)
Lean Hogs (CME) currently at US$ 104.53 cents per pound, down -2.8% on the day (YTD: +48.7%)
Rough Rice (CBOT) currently at US$ 13.35 cents per hundredweight, up 1.5% on the day (YTD: +7.6%)
Soybeans Composite (CBOT) currently at US$ 1,385.00 cents per bushel, down -0.7% on the day (YTD: +5.3%)
Corn (CBOT) currently at US$ 664.25 cents per bushel, up 0.7% on the day (YTD: +37.2%)
Wheat Composite (CBOT) currently at US$ 661.25 cents per bushel, up 1.6% on the day (YTD: +3.2%)
Sugar No.11 (ICE US) currently at US$ 16.69 cents per pound, up 1.6% on the day (YTD: +7.7%)
Cotton No.2 (ICE US) currently at US$ 86.46 cents per pound, up 2.7% on the day (YTD: +10.7%)
Cocoa (ICE US) currently at US$ 2,297 per tonne, down -1.2% on the day (YTD: -11.8%)
Coffee Arabica (Colombia Excelso) currently at EUR 3,737 per tonne, down -0.5% on the day (YTD: +18.1%)
Random Length Lumber (CME) currently at US$ 884.30 per 1,000 board feet, down -0.7% on the day (YTD: +1.3%)
TSR 20 Rubber (Shanghai) currently at CNY 10,405 per tonne, up 1.7% on the day (YTD: +3.3%)
Soybean Oil Composite (CBOT) currently at US$ 62.13 cents per pound, up 2.4% on the day (YTD: +43.4%)
Crude Palm Oil (Bursa Malaysia) currently at MYR 3,615 per tonne, up 1.7% on the day (YTD: -7.1%)

Baltic Dry Index (Baltic Exchange) currently at 3,119, down -2.2% on the day (YTD: +128.3%)
Freightos China To North America West Coast Container Index currently at 6,949, up 1.3% on the day (YTD: +65.5%)
Freightos North America West Coast To China Container Index currently at 1,028, unchanged (YTD: +98.6%)
Freightos North America East Coast To Europe Container Index currently at 591, unchanged (YTD: +62.9%)
Freightos Europe To North America East Coast Container Index currently at 5,193, unchanged (YTD: +177.8%)
Freightos China To North Europe Container Index currently at 11,031, up 0.5% on the day (YTD: +94.8%)
Freightos North Europe To China Container Index currently at 1,625, unchanged (YTD: +18.2%)
Freightos Europe To South America West Coast Container Index currently at 4,798, unchanged (YTD: +183.6%)

EUA futures front month (European Energy Exchange) currently at EUR 54.67 per tonne, up 2.4% on the day (YTD: +67.1%)

EU CO2 Permits Futures | Sources: phipost, Refinitiv data