Commodities

Gold And Silver Gain On Lower Dollar, Rhodium And Iridium Fall Again

Crude was pretty stable on Friday, as OPEC+ remained in a Mexican standoff on 2H 2021 production hikes; considering that the group is currently sitting on 7m bpd of spare supply, a failure to agree could lead to much lower spot prices

Published ET

S&P GSCI Total Return Index Performance | Sources: ϕpost, FactSet data

S&P GSCI Total Return Index Performance | Sources: ϕpost, FactSet data

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NOTABLE GAINERS

  • SMM Rare Earth Neodymium Metal Spot Price Daily up 3.5% (YTD: -2.3%)
  • CME Random Length Lumber up 2.9% (YTD: -13.3%)
  • CBoT Soybean Oil up 2.7% (YTD: 54.2%)
  • Coffee Robusta Vietnam Grade 1 Wet Pol Spot up 2.2% (YTD: 16.5%)
  • SMM Rare Earth Neodymium Oxide Spot Price Daily up 2.1% (YTD: -4.9%)
  • SMM Rare Earth Gadolinium Oxide Spot Price Daily up 2.0% (YTD: 14.0%)
  • Silver spot up 1.8% (YTD: 0.3%)
  • Bursa Malaysia Crude Palm Oil up 1.5% (YTD: 0.2%)
  • SMM Refined Cobalt Grade Spot Price Daily up 1.4% (YTD: 30.1%)
  • NYMEX RBOB Gasoline up 1.4% (YTD: 63.3%)
  • CME Lean Hogs up 1.3% (YTD: 54.6%)
  • ICE-US Cotton No. 2 up 1.2% (YTD: 10.1%)
  • ICE-US Sugar No. 11 up 1.2% (YTD: 17.2%)

NOTABLE LOSERS

  • DCE RBD Palm Oil down -4.3% (YTD: 12.0%)
  • Johnson Matthey Rhodium New York 0930 down -3.6% (YTD: 11.4%)
  • CBoT Corn down -3.1% (YTD: 44.1%)
  • CBoT Rough Rice down -2.4% (YTD: 3.5%)
  • Coffee Arabica Colombia Excelso EP Spot down -2.3% (YTD: 21.0%)
  • ICE-US Coffee down -2.2% (YTD: 18.9%)
  • CBoT Wheat down -1.9% (YTD: 0.8%)
  • Johnson Matthey Iridium New York 0930 down -1.7% (YTD: 117.3%)
  • ICE-US Cocoa down -1.5% (YTD: -12.0%)
  • Gold/US Dollar 1 Month ATM Option IV down -1.4% (YTD: -18.5%)
  • CME Live Cattle down -1.3% (YTD: 8.0%)
  • SHFE Rebar down -1.3% (YTD: 16.3%)
S&P GSCI Sub-Indices Today | Sources: ϕpost, FactSet dataS&P GSCI Equal Weight Index | Sources: ϕpost, Refinitiv data

ENERGY

  • WTI crude front month currently at US$ 75.16 per barrel, down -0.1% on the day (YTD: +54.9%); 6-month term structure in tightening backwardation
  • Brent crude front month currently at US$ 76.17 per barrel, up 0.4% on the day (YTD: +47.0%); 6-month term structure in tightening backwardation
  • Brent volatility at 28.9, up 0.8% on the day (12-month range: 24.7 - 57.6)
  • Newcastle Coal (ICE Europe) currently at US$ 139.25 per tonne, up 1.1% on the day (YTD: +73.0%)
  • Natural Gas (Henry Hub) currently at US$ 3.70 per MMBtu, up 1.1% on the day (YTD: +45.7%)
  • Gasoline (NYMEX) currently at US$ 2.30 per gallon, up 1.4% on the day (YTD: +63.3%); 6-month term structure in tightening backwardation
  • Low Sulphur Gasoil (ICE Europe) currently at US$ 611.25 per tonne, up 0.9% on the day (YTD: +45.3%)
GSCI Energy | Sources: ϕpost, FactSet dataCrude Oil 1-month ATM Volatilities | Sources: ϕpost, Refinitiv data

BASE METALS

  • Copper (COMEX) currently at US$ 4.29 per pound, up 0.9% on the day (YTD: +21.9%)
  • Iron Ore (Dalian Commodity Exchange) currently at CNY 1,346.00 per tonne, unchanged (YTD: +24.7%)
  • Aluminium (Shanghai) currently at CNY 19,015 per tonne, unchanged (YTD: +19.4%)
  • Nickel (Shanghai) currently at CNY 135,640 per tonne, down -0.7% on the day (YTD: +9.0%)
  • Lead (Shanghai) currently at CNY 15,775 per tonne, down -0.9% on the day (YTD: +6.4%)
  • Rebar (Shanghai) currently at CNY 4,960 per tonne, down -1.3% on the day (YTD: +16.3%)
  • Tin (Shanghai) currently at CNY 215,700 per tonne, down -0.5% on the day (YTD: +42.0%)
  • Zinc (Shanghai) currently at CNY 22,085 per tonne, down -0.6% on the day (YTD: +5.6%)
  • Refined Cobalt (Shanghai) spot price currently at CNY 356,500 per tonne, up 1.4% on the day (YTD: +30.1%)
  • 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 Volatilities | Sources: ϕpost, Refinitiv data

PRECIOUS METALS

  • Gold spot currently at US$ 1,786.79 per troy ounce, up 0.6% on the day (YTD: -5.8%)
  • Gold 1-Month ATM implied volatility currently at 12.70, down -1.4% on the day (YTD: -18.5%)
  • Silver spot currently at US$ 26.46 per troy ounce, up 1.8% on the day (YTD: +0.3%)
  • Silver 1-Month ATM implied volatility currently at 22.20, down -1.0% on the day (YTD: -45.4%)
  • Palladium spot currently at US$ 2,785.54 per troy ounce, up 0.8% on the day (YTD: +13.9%)
  • Platinum spot currently at US$ 1,088.89 per troy ounce, up 0.4% on the day (YTD: +1.9%)
  • Rhodium (Johnson Matthey, New York 09:30) currently at US$ 19,000 per troy ounce, down -3.6% on the day (YTD: +11.4%)
  • Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,650 per troy ounce, down -1.7% on the day (YTD: +117.3%)
GSCI Precious Metals | Sources: ϕpost, FactSet dataGold & Silver 1-Month ATM IVs | Sources: ϕpost, Refinitiv data

AGRO

  • Live Cattle (CME) currently at US$ 122.00 cents per pound, down 1.3% on the day (YTD: +8.0%)
  • Lean Hogs (CME) currently at US$ 108.65 cents per pound, up 1.3% on the day (YTD: +54.6%)
  • Rough Rice (CBOT) currently at US$ 12.84 cents per hundredweight, down -2.4% on the day (YTD: +3.5%)
  • Soybeans Composite (CBOT) currently at US$ 1,451.75 cents per bushel, up 0.3% on the day (YTD: +10.4%)
  • Corn (CBOT) currently at US$ 697.25 cents per bushel, down -3.1% on the day (YTD: +44.1%)
  • Wheat Composite (CBOT) currently at US$ 645.75 cents per bushel, down -1.9% on the day (YTD: +0.8%)
  • Sugar No.11 (ICE US) currently at US$ 18.21 cents per pound, up 1.2% on the day (YTD: +17.2%)
  • Cotton No.2 (ICE US) currently at US$ 85.01 cents per pound, up 1.2% on the day (YTD: +10.1%)
  • Cocoa (ICE US) currently at US$ 2,325 per tonne, down -1.5% on the day (YTD: -12.0%)
  • Coffee Arabica (Colombia Excelso) currently at EUR 3,829 per tonne, down -2.3% on the day (YTD: +21.0%)
  • Random Length Lumber (CME) currently at US$ 756.70 per 1,000 board feet, up 2.9% on the day (YTD: -13.3%)
  • TSR 20 Rubber (Shanghai) currently at CNY 10,325 per tonne, down -0.2% on the day (YTD: +0.8%)
  • Soybean Oil Composite (CBOT) currently at US$ 66.82 cents per pound, up 2.7% on the day (YTD: +54.2%)
  • Crude Palm Oil (Bursa Malaysia) currently at MYR 3,898 per tonne, up 1.5% on the day (YTD: +0.2%)
GSCI Agriculture | Sources: ϕpost, FactSet dataAgros 1-Month ATM IVs | Sources: ϕpost, Refinitiv data

SHIPPING

  • Baltic Dry Index (Baltic Exchange) currently at 3,338, down -1.3% on the day (YTD: +144.4%)
  • Freightos China To North America West Coast Container Index currently at 6,407, unchanged (YTD: +52.6%)
  • Freightos North America West Coast To China Container Index currently at 965, unchanged (YTD: +86.4%)
  • Freightos North America East Coast To Europe Container Index currently at 595, unchanged (YTD: +63.9%)
  • Freightos Europe To North America East Coast Container Index currently at 5,868, unchanged (YTD: +214.0%)
  • Freightos China To North Europe Container Index currently at 11,858, unchanged (YTD: +109.4%)
  • Freightos North Europe To China Container Index currently at 1,584, unchanged (YTD: +15.2%)
  • Freightos Europe To South America West Coast Container Index currently at 4,810, up 0.9% on the day (YTD: +184.3%)
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 57.35 per tonne, down -0.5% on the day (YTD: +75.3%)

EU CO2 PERMITS EUA Futures | Sources: phipost, Refinitiv data