Commodities

Crude Oil And Industrial Metals Fall As Covid Lockdowns Indicate Lower Demand Growth

Grains did well today, with corn, wheat and soybeans all up ahead of the USDA's weekly crop-progress report

Published ET

S&P GSCI Sub-Indices: Terrible Performance Over The Last 10 Years Despite A Recent Rise | Sources: ϕpost, FactSet data

S&P GSCI Sub-Indices: Terrible Performance Over The Last 10 Years Despite A Recent Rise | Sources: ϕpost, FactSet data

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NOTABLE GAINERS TODAY

  • DCE RBD Palm Oil up 8.0% (YTD: 31.6%)
  • Freightos Baltic China/East Asia To North America East Coast 40 Container Index up 6.0% (YTD: 284.9%)
  • DCE Iron Ore Continuation Month 1 up 5.5% (YTD: 0.8%)
  • Zhengzhou Exchange Thermal Coal up 5.0% (YTD: 29.0%)
  • Freightos Baltic China/East Asia To North America West Coast 40 Container Index up 4.9% (YTD: 358.1%)
  • Freightos Baltic Europe To South America East Coast 40 Container Index up 4.3% (YTD: 304.1%)
  • Freightos Baltic Europe To South America West Coast Container Index up 3.7% (YTD: 173.7%)
  • CBoT Wheat up 3.7% (YTD: 13.9%)
  • DCE Coke up 3.5% (YTD: 6.5%)
  • Freightos Baltic China/East Asia To Mediterranean 40 Container Index up 3.5% (YTD: 118.7%)
  • Pork Primal Cutout Butt up 3.4% (YTD: 58.6%)
  • Freightos Baltic Global Index up 3.4% (YTD: 211.5%)
  • SMM Rare Earth Neodymium Oxide Spot Price Daily up 3.3% (YTD: 23.0%)

NOTABLE LOSERS TODAY

  • Commodities Exchange Center Iron Ore 62% Fe CFR China (TSI) down -14.5% (YTD: 16.3%)
  • SGX Iron Ore 62% China CFR Swap Monthly down -14.5% (YTD: 16.3%)
  • Coffee Arabica Colombia Excelso EP Spot down -6.9% (YTD: 35.9%)
  • Coffee Robusta Vietnam Grade 1 Wet Pol Spot down -4.9% (YTD: 18.4%)
  • Bursa Malaysia Crude Palm Oil down -4.5% (YTD: 14.2%)
  • ICE Europe Brent Crude down -4.5% (YTD: 40.7%)
  • Brent Forties and Oseberg Dated FOB Northsea Crude down -4.1% (YTD: 45.1%)
  • SHFE Rebar down -4.1% (YTD: 29.7%)
  • NYMEX RBOB Gasoline down -3.9% (YTD: 61.5%)
  • DCE Coking Coal Continuation Month 1 down -3.8% (YTD: 36.1%)
GSCI Sub Indices Today | Sources: ϕpost, FactSet dataGSCI Equal Weight Total Return Index | Sources: ϕpost, Refinitiv data

BIG FALL ACROSS THE ENERGY COMPLEX TODAY

  • WTI crude front month currently at US$ 71.45 per barrel, down -3.6% (YTD: +46.9%); 6-month term structure in tightening backwardation
  • Brent crude front month currently at US$ 72.89 per barrel, down -4.5% (YTD: +40.7%); 6-month term structure in tightening backwardation
  • Brent volatility at 29.4, up 11.6% (12-month range: 24.7 - 57.6)
  • Newcastle Coal (ICE Europe) currently at US$ 152.55 per tonne, up 1.9% (YTD: +89.5%)
  • Natural Gas (Henry Hub) currently at US$ 3.98 per MMBtu, up 0.5% (YTD: +55.0%)
  • Gasoline (NYMEX) currently at US$ 2.28 per gallon, down -3.9% (YTD: +61.5%); 6-month term structure in widening backwardation
  • Low Sulphur Gasoil (ICE Europe) currently at US$ 596.25 per tonne, down -2.8% (YTD: +41.7%)
GSCI Energy TodayCrude Oil 1-month ATM IV | Sources: ϕpost, Refinitiv data

BASE METALS UP, COPPER AND NICKEL DOWN TODAY

  • Copper (COMEX) currently at US$ 4.43 per pound, down -1.1% (YTD: +26.1%)
  • Iron Ore (Dalian Commodity Exchange) currently at CNY 1,088.00 per tonne, up 5.5% (YTD: +0.8%)
  • Aluminum (Shanghai) currently at CNY 19,860 per tonne, up 0.2% (YTD: +27.0%)
  • Nickel (Shanghai) currently at CNY 144,790 per tonne, down -0.7% (YTD: +18.1%)
  • Lead (Shanghai) currently at CNY 16,080 per tonne, up 1.0% (YTD: +8.9%)
  • Rebar (Shanghai) currently at CNY 5,420 per tonne, down -4.1% (YTD: +29.7%)
  • Tin (Shanghai) currently at CNY 235,760 per tonne, up 0.7% (YTD: +57.4%)
  • Zinc (Shanghai) currently at CNY 22,350 per tonne, up 0.8% (YTD: +8.2%)
  • 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%)
GSCI Base Metals Today | Sources: ϕpost, FactSet dataLME Base Metals 1-Month ATM IV | Sources: ϕpost, Refinitiv data

PRECIOUS METALS RISE SLIGHTLY TODAY

  • Gold spot unchanged at US$ 1,812.39 per troy ounce (YTD: -4.4%)
  • Gold 1-Month ATM implied volatility currently at 12.95, up 0.6% (YTD: -17.9%)
  • Silver spot currently at US$ 25.37 per troy ounce, down -0.4% (YTD: -3.8%)
  • Silver 1-Month ATM implied volatility currently at 23.15, up 2.3% (YTD: -43.6%)
  • Palladium spot currently at US$ 2,687.37 per troy ounce, up 0.9% (YTD: +9.7%)
  • Platinum spot currently at US$ 1,054.68 per troy ounce, up 0.6% (YTD: -1.3%)
  • Rhodium (Johnson Matthey, New York 09:30) currently at US$ 18,600 per troy ounce, up 0.5% (YTD: +9.1%)
  • Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,400 per troy ounce, unchanged (YTD: +107.7%)
GSCI Precious Metals Today | Sources: ϕpost, FactSet dataSilver, Gold 1-Month ATM IV | Sources: ϕpost, Refinitiv data

AGS TODAY

  • Live Cattle (CME) unchanged at US$ 122.13 cents per pound (YTD: +8.1%)
  • Lean Hogs (CME) currently at US$ 107.50 cents per pound, up 1.2% (YTD: +53.0%)
  • Rough Rice (CBOT) currently at US$ 13.50 cents per hundredweight, down -1.4% (YTD: +8.8%)
  • Soybeans Composite (CBOT) currently at US$ 1,418.75 cents per bushel, up 0.3% (YTD: +7.9%)
  • Corn (CBOT) currently at US$ 558.75 cents per bushel, up 2.1% (YTD: +15.4%)
  • Wheat Composite (CBOT) currently at US$ 729.50 cents per bushel, up 3.7% (YTD: +13.9%)
  • Sugar No.11 (ICE US) currently at US$ 17.95 cents per pound, up 0.2% (YTD: +15.9%)
  • Cotton No.2 (ICE US) currently at US$ 90.07 cents per pound, up 0.3% (YTD: +15.3%)
  • Cocoa (ICE US) currently at US$ 2,363 per tonne, down -0.1% (YTD: -9.2%)
  • Coffee Arabica (Colombia Excelso) currently at EUR 4,300 per tonne, down -6.9% (YTD: +35.9%)
  • Random Length Lumber (CME) currently at US$ 635.60 per 1,000 board feet, up 2.3% (YTD: -27.2%)
  • TSR 20 Rubber (Shanghai) currently at CNY 10,760 per tonne, down -0.3% (YTD: +7.6%)
  • Soybean Oil Composite (CBOT) currently at US$ 64.62 cents per pound, down -1.8% (YTD: +49.1%)
  • Crude Palm Oil (Bursa Malaysia) currently at MYR 4,445 per tonne, down -4.5% (YTD: +14.2%)
GSCI Agriculture Today | Sources: ϕpost, FactSet dataAgs 1-month ATM IV | Sources: ϕpost, Refinitiv data

SHIPPING TODAY

  • Baltic Dry Index (Baltic Exchange) currently at 3,292, up 2.4% (YTD: +141.0%)
  • Freightos China To North America West Coast Container Index currently at 19,237, up 4.9% (YTD: +358.1%)
  • Freightos North America West Coast To China Container Index currently at 1,132, unchanged (YTD: +118.7%)
  • Freightos North America East Coast To Europe Container Index currently at 670, unchanged (YTD: +84.6%)
  • Freightos Europe To North America East Coast Container Index currently at 5,971, down -0.7% (YTD: +219.5%)
  • Freightos China To North Europe Container Index currently at 13,689, down -0.1% (YTD: +141.7%)
  • Freightos North Europe To China Container Index currently at 1,632, down -0.1% (YTD: +18.7%)
  • Freightos Europe To South America West Coast Container Index currently at 4,630, up 3.7% (YTD: +173.7%)
Baltic Dry Index | Sources: ϕpost, Refinitiv dataFreightos Indices | Sources: ϕpost, Refinitiv data

CARBON EMISSION ALLOWANCES (CO2)

  • EUA futures front month (European Energy Exchange) currently at EUR 54.43 per tonne, up 2.1% (YTD: +66.4%)

EUA Front-Month Future Prices | Sources: phipost.com, Refinitiv data