MACRO RELEASES

• API Weekly Inventories Report: crude draw of 4.73M barrels, Gasoline draw of 6.23M barrels, Distillates draw of 1.88M barrels
• Consensus for DOE tomorrow:
  Crude draw of 2.12M barrels, Gasoline draw of 850K barrels, Distillate draw of 650K barrels

NOTABLE GAINERS TODAY

• SMM Rare Earth Praseodymium Metal Spot Price Daily up 14.6% (YTD: 53.1%)
• SMM Rare Earth Praseodymium Oxide Spot Price Daily up 10.3% (YTD: 76.6%)
• Coffee Arabica Colombia Excelso EP Spot up 7.6% (YTD: 52.8%)
• Pork Primal Cutout Butt up 6.6% (YTD: 48.9%)
• SMM Rare Earth Neodymium Metal Spot Price Daily up 4.5% (YTD: 20.9%)
• DCE RBD Palm Oil up 2.7% (YTD: 21.8%)
• Coffee Robusta Vietnam Grade 1 Wet Pol Spot up 2.3% (YTD: 30.3%)

NOTABLE LOSERS TODAY

• CME Random Length Lumber down -6.7% (YTD: -33.3%)
• NYMEX Henry Hub Natural Gas down -3.2% (YTD: 56.4%)
• ICE-US Coffee down -2.9% (YTD: 57.3%)
• Silver spot down -2.0% (YTD: -6.4%)
• Palladium spot down -2.0% (YTD: 6.6%)
• Platinum spot down -1.6% (YTD: -1.7%)
• SMM Rare Earth Dysprosium Iron Alloy Spot Price Daily down -1.5% (YTD: 33.6%)
• WUXI Metal Cobalt Bi-Monthly down -1.2% (YTD: 34.4%)
• Silver/US Dollar 1 Month ATM Option IV down -1.0% (YTD: -45.1%)
• COMEX Copper down -0.9% (YTD: 29.4%)
• CME Cattle(Feeder) down -0.9% (YTD: 15.7%)

ENERGY TODAY: CRUDE OIL CONSOLIDATES, NAT GAS FALLS

• WTI crude front month currently at US$ 71.98 per barrel, down -0.4% (YTD: +47.7%); 6-month term structure in tightening backwardation
• Brent crude front month unchanged at US$ 74.77 per barrel (YTD: +43.8%); 6-month term structure in widening backwardation
• Brent volatility at 28.9, up 1.1% (12-month range: 24.7 - 57.6)
• Newcastle Coal (ICE Europe) unchanged at US$ 149.75 per tonne (YTD: +86.0%)
• Natural Gas (Henry Hub) currently at US$ 3.96 per MMBtu, down -3.2% (YTD: +56.4%)
• Gasoline (NYMEX) currently at US$ 2.33 per gallon, up 0.3% (YTD: +64.3%); 6-month term structure in widening backwardation
• Low Sulphur Gasoil (ICE Europe) currently at US$ 601.75 per tonne, up 0.1% (YTD: +42.7%)

BROAD FALL IN BASE METALS TODAY

• Copper (COMEX) currently at US$ 4.55 per pound, down -0.9% (YTD: +29.4%)
• Iron Ore (Dalian Commodity Exchange) currently at CNY 1,162.00 per tonne, down -0.8% (YTD: +10.2%)
• Aluminum (Shanghai) currently at CNY 19,350 per tonne, up 0.2% (YTD: +24.9%)
• Nickel (Shanghai) currently at CNY 144,830 per tonne, up 1.1% (YTD: +18.5%)
• Lead (Shanghai) currently at CNY 15,935 per tonne, down -0.7% (YTD: +9.1%)
• Rebar (Shanghai) currently at CNY 5,599 per tonne, up 0.4% (YTD: +33.5%)
• Tin (Shanghai) currently at CNY 231,720 per tonne, up 0.1% (YTD: +56.4%)
• Zinc (Shanghai) currently at CNY 22,265 per tonne, up 0.8% (YTD: +7.9%)
• Refined Cobalt (Shanghai) spot price currently at CNY 379,500 per tonne, unchanged (YTD: +38.5%)
• Lithium (Shanghai) spot price currently at CNY 620,000 per tonne, unchanged (YTD: +27.8%)

PRECIOUS METALS TODAY: GOLD STABLE, SILVER & PLATINUM FALL

• Gold spot currently at US$ 1,799.05 per troy ounce, up 0.1% (YTD: -5.2%)
• Gold 1-Month ATM implied volatility currently at 12.58, down -0.5% (YTD: -19.3%)
• Silver spot currently at US$ 24.70 per troy ounce, down -2.0% (YTD: -6.4%)
• Silver 1-Month ATM implied volatility currently at 22.35, down -1.0% (YTD: -45.1%)
• Palladium spot currently at US$ 2,609.41 per troy ounce, down -2.0% (YTD: +6.6%)
• Platinum spot currently at US$ 1,053.66 per troy ounce, down -1.6% (YTD: -1.7%)
• Rhodium (Johnson Matthey, New York 09:30) currently at US$ 18,400 per troy ounce, unchanged (YTD: +7.9%)
• Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,600 per troy ounce, unchanged (YTD: +115.4%)

AGS MIXED TODAY

• Live Cattle (CME) currently at US$ 122.93 cents per pound, down 0.4% (YTD: +8.8%)
• Lean Hogs (CME) currently at US$ 107.48 cents per pound, up 0.1% (YTD: +52.9%)
• Rough Rice (CBOT) currently at US$ 13.48 cents per hundredweight, down -0.5% (YTD: +8.7%)
• Soybeans Composite (CBOT) currently at US$ 1,424.75 cents per bushel, up 0.4% (YTD: +7.8%)
• Corn (CBOT) currently at US$ 550.25 cents per bushel, down -0.2% (YTD: +13.4%)
• Wheat Composite (CBOT) currently at US$ 674.50 cents per bushel, down -0.4% (YTD: +5.3%)
• Sugar No.11 (ICE US) currently at US$ 18.35 cents per pound, down -0.4% (YTD: +18.5%)
• Cotton No.2 (ICE US) currently at US$ 90.74 cents per pound, up 0.5% (YTD: +16.2%)
• Cocoa (ICE US) unchanged at US$ 2,393 per tonne (YTD: -8.1%)
• Coffee Arabica (Colombia Excelso) currently at EUR 4,836 per tonne, up 7.6% (YTD: +52.8%)
• Random Length Lumber (CME) currently at US$ 582.00 per 1,000 board feet, down -6.7% (YTD: -33.3%)
• TSR 20 Rubber (Shanghai) currently at CNY 10,555 per tonne, up 0.8% (YTD: +7.3%)
• Soybean Oil Composite (CBOT) currently at US$ 66.54 cents per pound, down -0.3% (YTD: +52.9%)
• Crude Palm Oil (Bursa Malaysia) currently at MYR 4,689 per tonne, up 1.3% (YTD: +20.5%)

SHIPPING TODAY

• Baltic Dry Index (Baltic Exchange) currently at 3,210, up 0.3% (YTD: +135.0%)
• Freightos China To North America West Coast Container Index currently at 6,647, unchanged (YTD: +58.3%)
• Freightos North America West Coast To China Container Index currently at 1,162, unchanged (YTD: +124.4%)
• Freightos North America East Coast To Europe Container Index currently at 697, unchanged (YTD: +92.0%)
• Freightos Europe To North America East Coast Container Index currently at 6,013, unchanged (YTD: +221.7%)
• Freightos China To North Europe Container Index currently at 13,706, unchanged (YTD: +142.0%)
• Freightos North Europe To China Container Index currently at 1,632, up 0.9% (YTD: +18.7%)
• Freightos Europe To South America West Coast Container Index currently at 4,463, unchanged (YTD: +163.8%)

CARBON EMISSION ALLOWANCES (CO2)

• EUA futures front month (European Energy Exchange) currently at EUR 52.91 per tonne, down -0.5% (YTD: +61.7%)