Commodities
Energy Group Rises Further On Otherwise Quiet Day For Commodities
Good week across the complex: all groups made gains except precious metals, which were slightly hampered by the rise in real US rates
Published ET
S&P GSCI Sub Indices Total Returns For The Week | Sources: ϕpost, FactSet data
BAKER HUGHES WEEKLY RIG COUNT
- North American rig count +17 to 683 in latest week and +351 y/y
- US rig count +9 to 521 in latest week and +260 y/y
- Oil +10 to 421 in latest week and +238 y/y
- Gas -1 to 99 in latest week and +24 y/y
NOTABLE GAINERS TODAY
- Johnson Matthey Rhodium New York 0930 up 5.1% (YTD: -15.0%)
- Intercontinental Exchange European Union Allowance (EUA) Yearly up 4.0% (YTD: 92.4%)
- EEX European-Carbon- Secondary Trading up 4.0% (YTD: 96.2%)
- ICE-US Cotton No. 2 up 3.8% (YTD: 24.0%)
- NYMEX Henry Hub Natural Gas up 3.3% (YTD: 102.4%)
- Brent Forties and Oseberg Dated FOB North sea Crude up 3.1% (YTD: 51.4%)
- Brent Crude Spot Free On Board (FOB) Sullom Voe North Sea up 3.1% (YTD: 50.9%)
- DCE RBD Palm Oil up 3.0% (YTD: 29.9%)
- ICE Europe Low Sulphur Gasoil up 3.0% (YTD: 55.7%)
- CME Lean Hogs up 3.0% (YTD: 24.2%)
- Zhengzhou Exchange Thermal Coal up 2.8% (YTD: 75.7%)
- Coffee Arabica Colombia Excelso EP Spot up 2.7% (YTD: 44.1%)
- ICE Europe Brent Crude up 2.5% (YTD: 50.8%)
- SHFE Stannum up 2.1% (YTD: 86.5%)
- ICE-US Coffee C up 2.0% (YTD: 51.5%)
NOTABLE LOSERS TODAY
- ICE-US Sugar No. 11 down -2.0% (YTD: 23.3%)
- DCE Coke down -1.7% (YTD: 33.9%)
- SHFE Hot Rolled Coil down -1.5% (YTD: 25.4%)
- Shanghai International Exchange TSR 20 down -1.1% (YTD: 8.0%)
- ICE-US Cocoa down -0.8% (YTD: -0.5%)
- SHFE Rebar down -0.8% (YTD: 37.7%)
- SHFE Aluminum down -0.7% (YTD: 47.9%)
- Platinum spot down -0.6% (YTD: -8.0%)
- CBoT Corn down -0.5% (YTD: 8.8%)
- Palladium spot down -0.5% (YTD: -19.4%)
- WUXI Metal Cobalt Bi-Monthly down -0.4% (YTD: 34.7%)
- Silver spot down -0.3% (YTD: -15.0%)
- Commodities Exchange Center Iron Ore 62% Fe CFR China (TSI) down -0.3% (YTD: -22.9%)
- CME Live Cattle down -0.2% (YTD: 8.8%)
- CME Cattle(Feeder) down -0.2% (YTD: 11.3%)
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 reduced net long position
- Henry Hub Ice reduced net long position
METALS
- Gold reduced net long position
- Silver reduced net long position
- Platinum reduced net short position
- Palladium increased net short position
- Copper-Grade#1 reduced net long position
AGRICULTURE
- Wheat reduced net short position
- Corn increased net long position
- Rough Rice turned to net long
- Oats increased net long position
- Soybeans reduced net long position
- Soybean Oil reduced net long position
- Soybean Meal increased net short position
- Lean Hogs reduced net long position
- Live Cattle reduced net long position
- Feeder Cattle turned to net short
- Cocoa reduced net long position
- Coffee C increased 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
ENERGY UP TODAY
- WTI crude front month currently at US$ 73.98 per barrel, up 0.9% (YTD: +52.5%); 6-month term structure in widening backwardation
- Brent crude front month currently at US$ 78.04 per barrel, up 2.5% (YTD: +50.8%); 6-month term structure in widening backwardation
- Brent volatility at 29.9, up 0.2% (12-month range: 26.1 - 43.4)
- Newcastle Coal (ICE Europe) currently at US$ 181.00 per tonne, up 0.6% (YTD: +125.5%)
- Natural Gas (Henry Hub) currently at US$ 5.14 per MMBtu, up 3.3% (YTD: +102.4%)
- Gasoline (NYMEX) currently at US$ 2.19 per gallon, up 0.7% (YTD: +55.3%); 6-month term structure in widening backwardation
- Low Sulphur Gasoil (ICE Europe) currently at US$ 658.50 per tonne, up 3.0% (YTD: +55.7%)
BASE METALS ROSE TODAY
- Copper (COMEX) currently at US$ 4.29 per pound, up 1.3% (YTD: +22.0%)
- Iron Ore (Dalian Commodity Exchange) currently at CNY 703.50 per tonne, up 1.3% (YTD: -36.2%)
- Aluminum (Shanghai) currently at CNY 22,960 per tonne, down -0.7% (YTD: +47.9%)
- Nickel (Shanghai) currently at CNY 145,550 per tonne, up 0.6% (YTD: +17.5%)
- Lead (Shanghai) currently at CNY 14,550 per tonne, up 0.6% (YTD: -2.7%)
- Rebar (Shanghai) currently at CNY 5,754 per tonne, down -0.8% (YTD: +37.7%)
- Tin (Shanghai) currently at CNY 289,000 per tonne, up 2.1% (YTD: +86.5%)
- Zinc (Shanghai) currently at CNY 23,065 per tonne, up 1.1% (YTD: +9.8%)
- Refined Cobalt (Shanghai) spot price currently at CNY 381,000 per tonne, up 0.3% (YTD: +39.1%)
- Lithium (Shanghai) spot price currently at CNY 835,000 per tonne, up 1.2% (YTD: +72.2%)
PRECIOUS METALS DOWN TODAY
- Gold spot currently at US$ 1,749.86 per troy ounce, up 0.5% (YTD: -7.8%)
- Gold 1-Month ATM implied volatility currently at 12.70, up 1.9% (YTD: -18.3%)
- Silver spot currently at US$ 22.42 per troy ounce, down -0.3% (YTD: -15.0%)
- Silver 1-Month ATM implied volatility unchanged at 23.51 (YTD: -42.4%)
- Palladium spot currently at US$ 1,971.57 per troy ounce, down -0.5% (YTD: -19.4%)
- Platinum spot currently at US$ 983.29 per troy ounce, down -0.6% (YTD: -8.0%)
- Rhodium (Johnson Matthey, New York 09:30) currently at US$ 14,500 per troy ounce, up 5.1% (YTD: -15.0%)
- Iridium (Johnson Matthey, New York 09:30) currently at US$ 5,000 per troy ounce, unchanged (YTD: +92.3%)
AGS MIXED TODAY
- Live Cattle (CME) currently at US$ 122.93 cents per pound, down 0.2% (YTD: +8.8%)
- Lean Hogs (CME) currently at US$ 87.28 cents per pound, up 3.0% (YTD: +24.2%)
- Rough Rice (CBOT) currently at US$ 13.90 cents per hundredweight, up 0.5% (YTD: +12.1%)
- Soybeans Composite (CBOT) currently at US$ 1,285.00 cents per bushel, up 0.1% (YTD: -2.3%)
- Corn (CBOT) currently at US$ 526.75 cents per bushel, down -0.5% (YTD: +8.8%)
- Wheat Composite (CBOT) currently at US$ 723.75 cents per bushel, up 0.8% (YTD: +13.0%)
- Sugar No.11 (ICE US) currently at US$ 19.16 cents per pound, down -2.0% (YTD: +23.3%)
- Cotton No.2 (ICE US) currently at US$ 93.31 cents per pound, up 3.8% (YTD: +24.0%)
- Cocoa (ICE US) currently at US$ 2,584 per tonne, down -0.8% (YTD: -0.5%)
- Coffee Arabica (Colombia Excelso) currently at EUR 4,562 per tonne, up 2.7% (YTD: +44.1%)
- Random Length Lumber (CME) currently at US$ 643.00 per 1,000 board feet, up 0.7% (YTD: -26.4%)
- TSR 20 Rubber (Shanghai) currently at CNY 10,890 per tonne, down -1.1% (YTD: +8.0%)
- Soybean Oil Composite (CBOT) currently at US$ 57.97 cents per pound, up 1.5% (YTD: +33.8%)
- Crude Palm Oil (Bursa Malaysia) currently at MYR 4,665 per tonne, up 0.2% (YTD: +19.9%)
SHIPPING TODAY
- Baltic Dry Index (Baltic Exchange) currently at 4,651, down -0.2% (YTD: +240.0%)
- Freightos China To North America West Coast Container Index currently at 19,182, unchanged (YTD: +356.8%)
- 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 462, down -13.3% (YTD: +27.3%)
- Freightos Europe To North America East Coast Container Index currently at 6,869, unchanged (YTD: +267.5%)
- Freightos China To North Europe Container Index currently at 14,756, unchanged (YTD: +160.6%)
- Freightos North Europe To China Container Index currently at 1,486, unchanged (YTD: +8.1%)
- Freightos Europe To South America West Coast Container Index currently at 5,622, unchanged (YTD: +232.3%)
CARBON EMISSION ALLOWANCES (CO2)
- EUA futures front month (European Energy Exchange) currently at EUR 63.75 per tonne, up 4.0% (YTD: +92.4%)
