Commodities

Energy And Base Metals Up Today, While Precious Metals Swoon

Natural Gas closed at new 2-1/2 year high for a 6th straight winning session (up 14% in the process); crude not moving much until OPEC+ meeting (on Thursday at 11:30AM ET)

Published ET

Gravity Pull For Rhodium and Iridium (Johnson Matthey ) | Source: Refinitiv

Gravity Pull For Rhodium and Iridium (Johnson Matthey ) | Source: Refinitiv

Twitter iconFacebook iconLinkedIn iconemail iconWhatsApp icon

API DATA

  • Crude: inventory draw of 8.15m barrels
  • Cushing: draw of 1.32m barrels
  • Gasoline: build of 2.42m barrels
  • Distillates: build of 428m barrels

NOTABLE GAINERS

  • Gold/US Dollar 1 Month ATM Option IV up 6.5% (YTD: -16.2%)
  • DCE RBD Palm Oil up 3.2% (YTD: 7.4%)
  • SMM Rare Earth Gadolinium Oxide Spot Price Daily up 3.1% (YTD: 10.4%)
  • Johnson Matthey Rhodium New York 0930 up 3.1% (YTD: 17.9%)
  • CBoT Soybean Oil up 3.0% (YTD: 48.0%)
  • CBoT Corn up 2.8% (YTD: 43.5%)
  • Coffee Arabica Colombia Excelso EP Spot up 2.6% (YTD: 24.9%)
  • SMM Rare Earth Terbium Metal Spot Price Daily up 2.6% (YTD: -12.9%)
  • DCE Iron Ore Continuation Month 1 up 2.6% (YTD: 28.5%)
  • SMM Rare Earth Terbium Oxide Spot Price Daily up 2.5% (YTD: -14.5%)
  • CME Lean Hogs up 1.9% (YTD: 52.2%)
  • Coffee Robusta Vietnam Grade 1 Wet Pol Spot up 1.9% (YTD: 15.9%)
  • ICE Europe Newcastle Coal Monthly up 1.9% (YTD: 62.7%)
  • SHFE Hot Rolled Coil up 1.6% (YTD: 22.3%)

NOTABLE LOSERS

  • CME Random Length Lumber down -5.3% (YTD: -13.2%)
  • DCE Coke down -4.7% (YTD: -6.0%)
  • Johnson Matthey Iridium New York 0930 down -2.5% (YTD: 121.2%)
  • Platinum spot down -2.2% (YTD: 0.0%)
  • DCE Coking Coal Continuation Month 1 down -1.8% (YTD: 47.8%)
  • NYMEX Light Sweet Crude Oil front month vs month 6 down -1.6%
  • ICE-US Coffee down -1.6% (YTD: 24.5%)
  • Freightos Baltic Europe To South America West Coast Container Index down -1.5% (YTD: 179.4%)
  • Silver spot down -1.3% (YTD: -2.4%)
S&P GSCI Sub Indices Today | Sources: ϕpost, FactSet dataGSCI Equal Weight Index | Sources: ϕpost, Refinitiv data

ENERGY

  • WTI crude front month currently at US$ 73.39 per barrel, up 0.1% on the day (YTD: +50.4%); 6-month term structure in tightening backwardation
  • Brent crude front month currently at US$ 74.76 per barrel, up 0.1% on the day (YTD: +44.3%); 6-month term structure in tightening backwardation
  • Brent volatility at 28.5, up 4.0% on the day (12-month range: 24.7 - 57.6)
  • Newcastle Coal (ICE Europe) currently at US$ 131.00 per tonne, up 1.9% on the day (YTD: +62.7%)
  • Natural Gas (Henry Hub) currently at US$ 3.65 per MMBtu, up 0.4% on the day (YTD: +43.0%)
  • Gasoline (NYMEX) currently at US$ 2.24 per gallon, up 1.0% on the day (YTD: +59.0%); 6-month term structure in widening backwardation
  • Low Sulphur Gasoil (ICE Europe) currently at US$ 600.25 per tonne, up 0.1% on the day (YTD: +42.7%)
GSCI Energy | Sources: ϕpost, FactSet dataCrude 1-month ATM Implied Vols | Sources: ϕpost, Refinitiv data

BASE METALS

  • Copper (COMEX) currently at US$ 4.28 per pound, unchanged (YTD: +21.7%)
  • Iron Ore (Dalian Commodity Exchange) currently at CNY 1,386.50 per tonne, up 2.6% on the day (YTD: +28.5%)
  • Aluminium (Shanghai) currently at CNY 18,820 per tonne, down -0.3% on the day (YTD: +20.2%)
  • Nickel (Shanghai) currently at CNY 136,890 per tonne, down -1.2% on the day (YTD: +9.9%)
  • Lead (Shanghai) currently at CNY 15,745 per tonne, down -0.4% on the day (YTD: +4.2%)
  • Rebar (Shanghai) currently at CNY 4,900 per tonne, up 0.1% on the day (YTD: +16.4%)
  • Tin (Shanghai) currently at CNY 213,200 per tonne, up 0.3% on the day (YTD: +41.6%)
  • Zinc (Shanghai) currently at CNY 21,960 per tonne, down -0.1% on the day (YTD: +4.5%)
  • Refined Cobalt (Shanghai) spot price currently at CNY 349,500 per tonne, up 0.4% on the day (YTD: +27.6%)
  • Lithium (Shanghai) spot price currently at CNY 620,000 per tonne, unchanged (YTD: +27.8%)
GSCI Industrial Metals | Sources: ϕpost, FactSet dataBase metals 1-month ATM Implieds | Sources: ϕpost, Refinitiv data

PRECIOUS METALS

  • Gold spot currently at US$ 1,761.50 per troy ounce, down -1.0% on the day (YTD: -7.2%)
  • Gold 1-Month ATM implied volatility currently at 13.06, up 6.5% on the day (YTD: -16.2%)
  • Silver spot currently at US$ 25.77 per troy ounce, down -1.3% on the day (YTD: -2.4%)
  • Silver 1-Month ATM implied volatility currently at 21.95, down -0.1% on the day (YTD: -46.0%)
  • Palladium spot currently at US$ 2,679.72 per troy ounce, down -0.3% on the day (YTD: +9.5%)
  • Platinum spot currently at US$ 1,066.35 per troy ounce, down -2.2% on the day (YTD: 0.0%)
  • Rhodium (Johnson Matthey, New York 09:30) currently at US$ 20,100 per troy ounce, up 3.1% on the day (YTD: +17.9%)
  • Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,750 per troy ounce, down -2.5% on the day (YTD: +121.2%)
GSCI Precious Metals | Sources: ϕpost, FactSet dataPrecious Metals 1-month ATM IVs | Sources: ϕpost, Refinitiv data

AGRO

  • Live Cattle (CME) currently at US$ 122.55 cents per pound, up 0.4% on the day (YTD: +8.5%)
  • Lean Hogs (CME) currently at US$ 106.98 cents per pound, up 1.9% on the day (YTD: +52.2%)
  • Rough Rice (CBOT) currently at US$ 13.25 cents per hundredweight, up 0.7% on the day (YTD: +6.9%)
  • Soybeans Composite (CBOT) currently at US$ 1,359.75 cents per bushel, up 0.2% on the day (YTD: +3.4%)
  • Corn (CBOT) currently at US$ 694.50 cents per bushel, up 2.8% on the day (YTD: +43.5%)
  • Wheat Composite (CBOT) currently at US$ 639.75 cents per bushel, down -1.0% on the day (YTD: -0.1%)
  • Sugar No.11 (ICE US) currently at US$ 17.23 cents per pound, unchanged (YTD: +11.2%)
  • Cotton No.2 (ICE US) currently at US$ 86.49 cents per pound, down -0.2% on the day (YTD: +10.7%)
  • Cocoa (ICE US) currently at US$ 2,361 per tonne, up 0.4% on the day (YTD: -9.3%)
  • Coffee Arabica (Colombia Excelso) currently at EUR 3,953 per tonne, up 2.6% on the day (YTD: +24.9%)
  • Random Length Lumber (CME) currently at US$ 758.00 per 1,000 board feet, down -5.3% on the day (YTD: -13.2%)
  • TSR 20 Rubber (Shanghai) currently at CNY 10,305 per tonne, down -0.8% on the day (YTD: +4.7%)
  • Soybean Oil Composite (CBOT) currently at US$ 64.15 cents per pound, up 3.0% on the day (YTD: +48.0%)
  • Crude Palm Oil (Bursa Malaysia) currently at MYR 3,750 per tonne, up 1.4% on the day (YTD: -3.6%)
GSCI Agriculture | Sources: ϕpost, FactSet dataAgricultural commodities 1-month ATM IVs | Sources: ϕpost, Refinitiv data

SHIPPING

  • Baltic Dry Index (Baltic Exchange) currently at 3,324, up 2.1% on the day (YTD: +143.3%)
  • Freightos China To North America West Coast Container Index currently at 6,969, unchanged (YTD: +66.0%)
  • Freightos North America West Coast To China Container Index currently at 947, up 1.5% on the day (YTD: +83.0%)
  • 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 5,668, unchanged (YTD: +203.3%)
  • Freightos China To North Europe Container Index currently at 10,961, up 0.4% on the day (YTD: +93.6%)
  • 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 4,727, down -1.5% on the day (YTD: +179.4%)
Freightos Indices | Sources: ϕpost, Refinitiv dataBaltic Dry Index | Sources: ϕpost, Refinitiv data

CARBON EMISSION ALLOWANCES (CO2)

  • EUA futures front month (European Energy Exchange) currently at EUR 55.64 per tonne, up 0.3% on the day (YTD: +70.0%)

EU CO2 Permits Front Month Futures | Sources: phipost, Refinitiv data