Commodities Mixed Today: Base Metals And Ags Down, Energy Up

Nat Gas soars on lower production (IDA storm) and high demand (hot weather), while WTI is largely unchanged after OPEC+ decision and weekly EIA data

Published Sep 1, 2021 8:35 PM ET

Coking Coal Has Now Doubled This Year | Sources: ϕpost, Refinitiv data

OPEC+ meeting ends with expected status quo: no change to existing agreement of increasing supply by 400k bpd each month
EIA weekly data sees an unexpectedly large inventories draw for crude oil: Total Crude Oil excluding SPR, Absolute change, Volume for W 27 Aug (EIA, United States) at -7.17 Mln, below consensus estimate of -3.09 Mln
EIA stock levels, Total Distillate, Absolute change, Volume for W 27 Aug (EIA, United States) at -1.73 Mln, below consensus estimate of -0.65 Mln
EIA stock levels, Gasoline, Absolute change, Volume for W 27 Aug (EIA, United States) at 1.29 Mln, above consensus estimate of -1.63 Mln
EIA, Refinery Capacity Utilization, Absolute change, Volume for W 27 Aug (EIA, United States) at -1.10 %, below consensus estimate of -0.30 %

CME Live Cattle up 7.3% (YTD: 12.9%)
CME Cash Settled Cheese up 6.3% (YTD: 1.6%)
NYMEX Henry Hub Natural Gas up 5.4% (YTD: 81.8%)
CME Class III Milk up 4.7% (YTD: 5.9%)
DCE Coking Coal Continuation Month 1 up 3.5% (YTD: 100.8%)
CME Lean Hogs up 1.5% (YTD: 28.3%)
SMM Lithium Metal Spot Price Daily up 1.4% (YTD: 51.5%)
DCE Coke up 1.0% (YTD: 26.9%)
Silver spot up 1.0% (YTD: -8.6%)
WUXI Metal Cobalt Bi-Monthly up 0.7% (YTD: 31.3%)
CME Dry Whey up 0.3% (YTD: 27.1%)
Crude Oil WTI Cushing US FOB up 0.3% (YTD: 41.9%)
ICE-US Cotton No. 2 up 0.3% (YTD: 20.5%)
ICE Europe Newcastle Coal Monthly up 0.2% (YTD: 116.9%)
Shanghai International Exchange TSR 20 Rubber up 0.1% (YTD: 5.8%)

SGX Iron Ore 62% China CFR Swap Monthly down -10.2% (YTD: -8.2%)
Commodities Exchange Center Iron Ore 62% Fe CFR China (TSI) down -10.2% (YTD: -8.2%)
NYMEX RBOB Gasoline down -7.5% (YTD: 49.9%)
SMM Rare Earth Cerium Misch Metal Spot Price Daily down -7.0% (YTD: -5.4%)
DCE Iron Ore Continuation Month 1 down -4.8% (YTD: -17.6%)
CBoT Corn down -3.5% (YTD: 6.5%)
Brent Crude Spot Free On Board (FOB) Sullom Voe North Sea down -3.2% (YTD: 41.7%)
Brent Forties and Oseberg Dated FOB North Sea Crude down -2.6% (YTD: 40.2%)
COMEX Copper down -2.2% (YTD: 21.3%)
SMM Rare Earth Yttrium Metal Spot Price Daily down -2.1% (YTD: 12.2%)
SHFE Hot Rolled Coil down -2.1% (YTD: 24.9%)
Coffee Arabica Colombia Excelso EP Spot down -2.0% (YTD: 44.2%)
ICE Europe Brent Crude down -1.9% (YTD: 38.2%)
SHFE Bitumen Continuation Month 1 down -1.8% (YTD: 26.0%)
CBoT Soybean Oil down -1.8% (YTD: 34.6%)

WTI crude front month currently at US$ 68.60 per barrel, down 0.4% (YTD: +41.4%)
Brent crude front month currently at US$ 71.08 per barrel, down -1.9% (YTD: +38.2%); 6-month term structure in tightening backwardation
Brent volatility at 28.7, down -2.2% (12-month range: 26.1 - 43.4)
Newcastle Coal (ICE Europe) currently at US$ 174.60 per tonne, up 0.2% (YTD: +116.9%)
Natural Gas (Henry Hub) currently at US$ 4.58 per MMBtu, up 5.4% (YTD: +81.8%)
Gasoline (NYMEX) currently at US$ 2.10 per gallon, down -7.5% (YTD: +49.9%); 6-month term structure in tightening backwardation
Low Sulphur Gasoil (ICE Europe) currently at US$ 598.00 per tonne, down -1.1% (YTD: +41.4%)

Copper (COMEX) currently at US$ 4.27 per pound, down -2.2% (YTD: +21.3%)
Iron Ore (Dalian Commodity Exchange) currently at CNY 888.00 per tonne, down -4.8% (YTD: -17.6%)
Aluminum (Shanghai) currently at CNY 21,195 per tonne, down -0.7% (YTD: +35.0%)
Nickel (Shanghai) currently at CNY 148,450 per tonne, up 0.1% (YTD: +21.1%)
Lead (Shanghai) currently at CNY 14,905 per tonne, down -0.9% (YTD: +1.2%)
Rebar (Shanghai) currently at CNY 5,202 per tonne, down -0.4% (YTD: +23.5%)
Tin (Shanghai) unchanged at CNY 249,300 per tonne (YTD: +65.8%)
Zinc (Shanghai) currently at CNY 22,180 per tonne, down -0.7% (YTD: +6.8%)
Refined Cobalt (Shanghai) spot price currently at CNY 362,500 per tonne, unchanged (YTD: +32.3%)
Lithium (Shanghai) spot price currently at CNY 735,000 per tonne, up 1.4% (YTD: +51.5%)

Gold spot unchanged at US$ 1,813.61 per troy ounce (YTD: -4.4%)
Gold 1-Month ATM implied volatility currently at 12.62, down -1.8% (YTD: -19.0%)
Silver spot currently at US$ 24.12 per troy ounce, up 1.0% (YTD: -8.6%)
Silver 1-Month ATM implied volatility currently at 22.48, down -2.4% (YTD: -44.4%)
Palladium spot currently at US$ 2,439.52 per troy ounce, down -1.3% (YTD: -0.2%)
Platinum spot currently at US$ 1,000.11 per troy ounce, down -1.3% (YTD: -6.4%)
Rhodium (Johnson Matthey, New York 09:30) currently at US$ 17,400 per troy ounce, down -1.1% (YTD: +2.1%)
Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,200 per troy ounce, unchanged (YTD: +100.0%)

Live Cattle (CME) currently at US$ 127.58 cents per pound, up 7.3% (YTD: +12.9%)
Lean Hogs (CME) currently at US$ 90.15 cents per pound, up 1.5% (YTD: +28.3%)
Rough Rice (CBOT) currently at US$ 12.98 cents per hundredweight, down -1.2% (YTD: +4.6%)
Soybeans Composite (CBOT) currently at US$ 1,275.50 cents per bushel, down -1.6% (YTD: -2.9%)
Corn (CBOT) currently at US$ 512.00 cents per bushel, down -3.5% (YTD: +6.5%)
Wheat Composite (CBOT) currently at US$ 701.00 cents per bushel, down -0.8% (YTD: +9.4%)
Sugar No.11 (ICE US) currently at US$ 19.67 cents per pound, down -0.9% (YTD: +27.0%)
Cotton No.2 (ICE US) currently at US$ 94.15 cents per pound, up 0.3% (YTD: +20.5%)
Cocoa (ICE US) currently at US$ 2,558 per tonne, down -0.1% (YTD: -1.7%)
Coffee Arabica (Colombia Excelso) currently at EUR 4,564 per tonne, down -2.0% (YTD: +44.2%)
Random Length Lumber (CME) currently at US$ 477.50 per 1,000 board feet, down -1.1% (YTD: -45.3%)
TSR 20 Rubber (Shanghai) currently at CNY 10,535 per tonne, up 0.1% (YTD: +5.8%)
Soybean Oil Composite (CBOT) currently at US$ 58.31 cents per pound, down -1.8% (YTD: +34.6%)
Crude Palm Oil (Bursa Malaysia) currently at MYR 4,448 per tonne, down -1.2% (YTD: +14.3%)

Baltic Dry Index (Baltic Exchange) currently at 4,132, down -2.4% (YTD: +202.5%)
Freightos China To North America West Coast Container Index currently at 19,080, up 3.6% (YTD: +354.3%)
Freightos North America West Coast To China Container Index currently at 927, unchanged (YTD: +79.1%)
Freightos North America East Coast To Europe Container Index currently at 364, unchanged (YTD: +0.3%)
Freightos Europe To North America East Coast Container Index currently at 5,847, down -1.4% (YTD: +212.8%)
Freightos China To North Europe Container Index currently at 13,878, up 0.2% (YTD: +145.1%)
Freightos North Europe To China Container Index currently at 1,537, down -3.9% (YTD: +11.8%)
Freightos Europe To South America West Coast Container Index currently at 5,288, up 1.9% (YTD: +212.6%)

EUA futures front month (European Energy Exchange) currently at EUR 60.12 per tonne, down -1.1% (YTD: +83.7%)

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