Commodities

Positive Performance In Most Commodities Groups Today, Except For Precious Metals

Palladium prices have fallen 12% over the past week, as production issues in the auto sector are weighing heavily on demand

Published ET

Palladium Spot Prices Intraday | Source: Refinitiv data

Palladium Spot Prices Intraday | Source: Refinitiv data

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WEEKLY BAKER HUGHES RIG COUNT

  • North American rig count down 3 to 646 this week (up 340 y/y)
  • US rig count +6 to 503 this week: oil +7 to 401 and gas down 1 to 101

NET POSITIONS OF MANAGED MONEY (WEEKLY CFTC REPORT)

ENERGY

  • Light Sweet Crude reduced net long position
  • Ice Brent increased net long position
  • Gasoline RBOB reduced net long position
  • No.2 Heating Oil increased net long position
  • Ice Gasoil increased net long position
  • Henry Hub Ice increased net long position

Brent Net Managed Positioning | Sources: phipost.com, Refinitiv data

METALS

  • Gold reduced net long position
  • Silver increased net long position
  • Platinum increased net short position
  • Palladium reduced net long position
  • Copper-Grade#1 reduced net long position

AGRICULTURE

  • Wheat reduced net long position
  • Corn reduced net long position
  • Rough Rice increased net short position
  • Oats increased net long position
  • Soybeans reduced net long position
  • Soybean Oil reduced net long position
  • Soybean Meal turned to net short
  • Lean Hogs increased net long position
  • Live Cattle reduced net long position
  • Feeder Cattle reduced net long position
  • Cocoa increased net long position
  • Coffee C reduced net long position
  • Robusta Coffee increased net long position
  • Frozen Orange Juice reduced net long position
  • Sugar No.11 reduced net long position
  • White Sugar reduced net long position

NOTABLE GAINERS TODAY

  • DCE Coking Coal Continuation Month 1 up 6.4% (YTD: 113.5%)
  • DCE Coke up 5.2% (YTD: 52.6%)
  • COMEX Copper up 3.8% (YTD: 26.6%)
  • DCE Iron Ore Continuation Month 1 up 3.3% (YTD: -22.9%)
  • SHFE Nickel up 2.9% (YTD: 24.3%)
  • SHFE Stannum up 2.8% (YTD: 71.8%)
  • SMM Lithium Metal Spot Price Daily up 2.7% (YTD: 55.7%)
  • NYMEX RBOB Gasoline up 2.6% (YTD: 52.9%)
  • SMM Rare Earth Terbium Metal Spot Price Daily up 2.5% (YTD: 11.8%)
  • NYMEX Light Sweet Crude Oil (WTI) up 2.3% (YTD: 43.7%)
  • Crude Oil WTI Cushing US FOB up 2.3% (YTD: 44.4%)
  • ICE Europe Brent Crude up 2.1% (YTD: 40.8%)
  • SHFE Aluminum up 1.9% (YTD: 44.6%)
  • Brent Forties and Oseberg Dated FOB North Sea Crude up 1.8% (YTD: 41.7%)
  • WUXI Metal Cobalt Bi-Monthly up 1.8% (YTD: 36.4%)

NOTABLE LOSERS TODAY

  • CME Lean Hogs down -3.5% (YTD: 17.3%)
  • EEX European-Carbon- Secondary Trading down -2.9% (YTD: 89.9%)
  • Intercontinental Exchange European Union Allowance (EUA) Yearly down -2.9% (YTD: 86.2%)
  • ICE-US Cocoa down -2.6% (YTD: 1.5%)
  • ICE-US Sugar No. 11 down -2.3% (YTD: 21.3%)
  • Platinum spot down -2.3% (YTD: -10.7%)
  • Palladium spot down -1.9% (YTD: -12.6%)
  • Johnson Matthey Rhodium New York 0930 down -1.9% (YTD: -7.9%)
  • NYMEX Henry Hub Natural Gas down -1.8% (YTD: 94.5%)
  • Bursa Malaysia Crude Palm Oil down -1.6% (YTD: 17.6%)
  • Coffee Robusta Vietnam Grade 1 Wet Pol QSpot down -1.5% (YTD: 28.9%)
  • SHFE Bitumen Continuation Month 1 down -1.3% (YTD: 23.3%)
  • Silver spot down -1.3% (YTD: -10.1%)
  • SGX Iron Ore 62% China CFR Swap Monthly down -1.0% (YTD: -15.5%)
  • CME Cattle(Feeder) down -1.0% (YTD: 11.0%)
S&P GSCI Sub-Indices Today | Sources: ϕpost, FactSet dataGSCI Equal-Weighted Total Return Index | Sources: ϕpost, Refinitiv data

OIL & GASOLINE UP TODAY, NAT GAS DOWN

  • WTI crude front month currently at US$ 69.72 per barrel, up 2.3% (YTD: +43.7%); 6-month term structure in widening backwardation
  • Brent crude front month currently at US$ 72.92 per barrel, up 2.1% (YTD: +40.8%); 6-month term structure in widening backwardation
  • Brent volatility at 28.7, down -2.4% (12-month range: 26.1 - 43.4)
  • Newcastle Coal (ICE Europe) currently at US$ 177.60 per tonne, up 0.1% (YTD: +120.6%)
  • Natural Gas (Henry Hub) currently at US$ 4.94 per MMBtu, down -1.8% (YTD: +94.5%)
  • Gasoline (NYMEX) currently at US$ 2.15 per gallon, up 2.6% (YTD: +52.9%); 6-month term structure in tightening backwardation
  • Low Sulphur Gasoil (ICE Europe) unchanged at US$ 610.00 per tonne (YTD: +43.9%)
GSCI Energy | Sources: ϕpost, FactSet dataWTI, Brent 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

BASE METALS UP TODAY

  • Copper (COMEX) currently at US$ 4.42 per pound, up 3.8% (YTD: +26.6%)
  • Iron Ore (Dalian Commodity Exchange) currently at CNY 909.00 per tonne, up 3.3% (YTD: -22.9%)
  • Aluminum (Shanghai) currently at CNY 23,300 per tonne, up 1.9% (YTD: +44.6%)
  • Nickel (Shanghai) currently at CNY 154,300 per tonne, up 2.9% (YTD: +24.3%)
  • Lead (Shanghai) currently at CNY 15,135 per tonne, up 0.6% (YTD: +2.2%)
  • Rebar (Shanghai) currently at CNY 5,604 per tonne, up 0.5% (YTD: +32.8%)
  • Tin (Shanghai) currently at CNY 262,200 per tonne, up 2.8% (YTD: +71.8%)
  • Zinc (Shanghai) currently at CNY 23,065 per tonne, up 0.1% (YTD: +9.4%)
  • Refined Cobalt (Shanghai) spot price currently at CNY 372,500 per tonne, up 1.1% (YTD: +35.9%)
  • Lithium (Shanghai) spot price currently at CNY 755,000 per tonne, up 2.7% (YTD: +55.7%)
GSCI Base Metals | Sources: ϕpost, FactSet dataLME Base Metals 1-Month ATM Implied Vols | Sources: ϕpost, Refinitiv data

PRECIOUS METALS DOWN TODAY

  • Gold spot currently at US$ 1,787.34 per troy ounce, down -0.4% (YTD: -5.8%)
  • Gold 1-Month ATM implied volatility currently at 12.28, up 1.6% (YTD: -21.7%)
  • Silver spot currently at US$ 23.72 per troy ounce, down -1.3% (YTD: -10.1%)
  • Silver 1-Month ATM implied volatility currently at 21.73, up 1.4% (YTD: -46.5%)
  • Palladium spot currently at US$ 2,136.50 per troy ounce, down -1.9% (YTD: -12.6%)
  • Platinum spot currently at US$ 954.35 per troy ounce, down -2.3% (YTD: -10.7%)
  • Rhodium (Johnson Matthey, New York 09:30) currently at US$ 15,700 per troy ounce, down -1.9% (YTD: -7.9%)
  • Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,000 per troy ounce, unchanged (YTD: +92.3%)
GSCI Precious Metals | Sources: ϕpost, FactSet dataGold, Silver 1-month ATM Implied Vols | Sources: ϕpost, Refinitiv data

AGS MIXED TODAY

  • Live Cattle (CME) currently at US$ 123.43 cents per pound, down 0.3% (YTD: +9.3%)
  • Lean Hogs (CME) currently at US$ 82.45 cents per pound, down -3.5% (YTD: +17.3%)
  • Rough Rice (CBOT) currently at US$ 13.26 cents per hundredweight, up 1.3% (YTD: +6.9%)
  • Soybeans Composite (CBOT) currently at US$ 1,275.25 cents per bushel, up 1.3% (YTD: -3.0%)
  • Corn (CBOT) currently at US$ 502.75 cents per bushel, up 1.4% (YTD: +3.9%)
  • Wheat Composite (CBOT) currently at US$ 675.00 cents per bushel, down -1.0% (YTD: +5.4%)
  • Sugar No.11 (ICE US) currently at US$ 18.84 cents per pound, down -2.3% (YTD: +21.3%)
  • Cotton No.2 (ICE US) currently at US$ 95.11 cents per pound, up 0.7% (YTD: +21.9%)
  • Cocoa (ICE US) currently at US$ 2,713 per tonne, down -2.6% (YTD: +1.5%)
  • Coffee Arabica (Colombia Excelso) currently at EUR 4,422 per tonne, down -0.9% (YTD: +39.7%)
  • Random Length Lumber (CME) currently at US$ 508.20 per 1,000 board feet, up 1.5% (YTD: -41.8%)
  • TSR 20 Rubber (Shanghai) currently at CNY 10,750 per tonne, down -0.4% (YTD: +7.1%)
  • Soybean Oil Composite (CBOT) currently at US$ 55.74 cents per pound, down -0.5% (YTD: +28.6%)
  • Crude Palm Oil (Bursa Malaysia) currently at MYR 4,625 per tonne, down -1.6% (YTD: +17.6%)
GSCI Agriculture | Sources: ϕpost, FactSet dataAgs 1-Month Implied Vols | Sources: ϕpost, Refinitiv data

SHIPPING TODAY

  • Baltic Dry Index (Baltic Exchange) currently at 3,643, up 0.7% (YTD: +166.7%)
  • Freightos China To North America West Coast Container Index currently at 20,586, unchanged (YTD: +390.2%)
  • Freightos North America West Coast To China Container Index currently at 907, unchanged (YTD: +75.2%)
  • Freightos North America East Coast To Europe Container Index currently at 366, unchanged (YTD: +0.8%)
  • Freightos Europe To North America East Coast Container Index currently at 6,869, down -1.6% (YTD: +267.5%)
  • Freightos China To North Europe Container Index currently at 14,292, unchanged (YTD: +152.4%)
  • Freightos North Europe To China Container Index currently at 1,512, up 0.6% (YTD: +9.9%)
  • Freightos Europe To South America West Coast Container Index currently at 5,622, unchanged (YTD: +232.3%)
Freightos Indices | Sources: ϕpost, Freightos dataBaltic Dry Index | Sources: ϕpost, Refinitiv data

CARBON EMISSION ALLOWANCES (CO2)

  • EUA futures front month (European Energy Exchange) currently at EUR 60.92 per tonne, down -2.9% (YTD: +86.2%)

CO2 EUA Front-Month Futures prices | Sources: phipost.com, Refinitiv data