NOTABLE GAINERS THIS WEEK

• SMM Erbium Oxide Spot Price Daily up 23.5% (YTD: 112.6%), now at 355,000.00
• SMM Rare Earth Gadolinium Oxide Spot Price Daily up 15.7% (YTD: 86.8%), now at 332,500.00
• SMM Rare Earth Carbonate Domestic Spot Price Daily up 11.7% (YTD: 152.7%), now at 57,500.00
• SMM Rare Earth Neodymium Oxide Spot Price Daily up 11.3% (YTD: 45.1%), now at 740,000.00
• SMM Rare Earth Praseodymium Oxide Spot Price Daily up 10.2% (YTD: 108.3%), now at 755,000.00
• SMM Rare Earth Praseodymium Neodymium Alloy Spot Price Daily up 9.7% (YTD: 71.4%), now at 875,000.00
• SMM Rare Earth Terbium Oxide Spot Price Daily up 9.1% (YTD: 36.6%), now at 9,900.00
• SMM Rare Earth Neodymium Metal Spot Price Daily up 8.5% (YTD: 43.8%), now at 895,000.00
• ICE-US Cotton No. 2 up 6.1% (YTD: 47.0%), now at 115.14
• CBoT Corn up 5.6% (YTD: 17.4%), now at 568.25
• Coffee Robusta Vietnam Grade 1 Wet Pol spot up 4.6% (YTD: 38.2%), now at 1,912.00
• SMM Rare Earth Dysprosium Oxide Spot Price Daily up 4.6% (YTD: 47.7%), now at 2,865.00
• SHFE Bitumen Continuation Month 1 up 4.2% (YTD: 29.8%), now at 3,070.00
• Bursa Malaysia Crude Palm Oil up 4.1% (YTD: 38.8%), now at 5,436.00
• SMM Rare Earth Dysprosium Iron Alloy Spot Price Daily up 3.8% (YTD: 47.9%), now at 2,840,000.00

NOTABLE LOSERS THIS WEEK

• Zhengzhou Exchange Thermal Coal down -31.4% (YTD: 47.4%), now at 1,100.00
• Baltic Exchange Capesize Index down -29.9% (YTD: 116.8%), now at 4,349.00
• Baltic Exchange Dry Index down -20.2% (YTD: 157.6%), now at 3,519.00
• Baltic Exchange Supramax Index down -13.4% (YTD: 198.7%), now at 3,104.00
• CME Random Length Lumber down -11.4% (YTD: -32.2%), now at 591.60
• Baltic Exchange Panamax Index down -10.0% (YTD: 194.0%), now at 3,896.00
• SHFE Aluminium down -7.9% (YTD: 29.1%), now at 20,450.00
• DCE Iron Ore Continuation Month 1 down -6.8% (YTD: -40.5%), now at 641.50
• SHFE Stannum (Tin) down -4.9% (YTD: 79.0%), now at 286,950.00
• DCE Coke down -4.8% (YTD: 38.3%), now at 4,000.00
• SHFE Hot Rolled Coil down -4.8% (YTD: 14.8%), now at 5,213.00
• Shanghai International Exchange Bonded Copper down -4.6% (YTD: 20.3%), now at 62,090.00
• SHFE Zinc down -4.3% (YTD: 13.4%), now at 24,320.00
• Baltic Exchange Handysize Index down -4.1% (YTD: 191.3%), now at 1,972.00
• SHFE Rebar down -4.1% (YTD: 13.9%), now at 4,735.00

NET POSITIONS OF MANAGED MONEY (WEEKLY CFTC REPORT)

ENERGY

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

METALS

• Gold increased net long position
• Silver increased net long position
• Platinum increased net long 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 reduced net long position
• Oats reduced net long position
• Soybeans increased net long position
• Soybean Oil increased net long position
• Soybean Meal reduced net short position
• Lean Hogs reduced net long position
• Live Cattle reduced net long position
• Feeder Cattle increased net short position
• Cocoa reduced net long position
• Coffee C increased net long position
• Robusta Coffee increased net long position
• Frozen Orange Juice increased net short position
• Sugar No.11 reduced net long position
• White Sugar reduced net long position

ENERGY DOWN THIS WEEK

• WTI crude front month currently at US$ 83.57 per barrel, down -0.2% (YTD: +72.2%); 6-month term structure in widening backwardation
• Brent crude front month currently at US$ 83.72 per barrel, down -1.3% (YTD: +62.9%); 6-month term structure in widening backwardation
• Newcastle Coal (ICE Europe) currently at US$ 154.90 per tonne, down -2.8% (YTD: +177.6%)
• Natural Gas (Henry Hub) currently at US$ 5.43 per MMBtu, up 2.8% (YTD: +113.7%)
• Gasoline (NYMEX) currently at US$ 2.37 per gallon, down -0.8% (YTD: +74.8%); 6-month term structure in tightening backwardation
• Low Sulphur Gasoil (ICE Europe) currently at US$ 718.50 per tonne, down -1.9% (YTD: +70.8%)

BASE METALS FELL HARD THIS WEEK

• Copper (COMEX) currently at US$ 4.38 per pound, down -3.3% (YTD: +24.5%)
• Iron Ore (Dalian Commodity Exchange) currently at CNY 641.50 per tonne, down -6.8% (YTD: -40.5%)
• Aluminium (Shanghai) currently at CNY 20,450 per tonne, down -7.9% (YTD: +29.1%)
• Nickel (Shanghai) currently at CNY 146,580 per tonne, down -4.0% (YTD: +17.5%)
• Lead (Shanghai) currently at CNY 15,715 per tonne, down -0.7% (YTD: +7.3%)
• Rebar (Shanghai) currently at CNY 4,735 per tonne, down -4.1% (YTD: +13.9%)
• Tin (Shanghai) currently at CNY 286,950 per tonne, down -4.9% (YTD: +79.0%)
• Zinc (Shanghai) currently at CNY 24,320 per tonne, down -4.3% (YTD: +13.4%)
• Refined Cobalt (Shanghai) spot price currently at CNY 404,000 per tonne, up 1.3% (YTD: +47.4%)
• Lithium (Shanghai) spot price currently at CNY 955,000 per tonne, unchanged (YTD: +96.9%)

PRECIOUS METALS DOWN THIS WEEK

• Gold spot currently at US$ 1,782.81 per troy ounce, down -0.5% (YTD: -6.0%)
• Gold 1-Month ATM implied volatility currently at 12.83, down -0.6% (YTD: -17.8%)
• Silver spot currently at US$ 23.88 per troy ounce, down -1.8% (YTD: -9.4%)
• Silver 1-Month ATM implied volatility currently at 23.10, down -1.9% (YTD: -42.7%)
• Palladium spot currently at US$ 2,004.69 per troy ounce, down -0.8% (YTD: -18.0%)
• Platinum spot currently at US$ 1,018.31 per troy ounce, down -2.1% (YTD: -4.7%)
• Rhodium (Johnson Matthey, New York 09:30) currently at US$ 14,100 per troy ounce, up 0.7% (YTD: -17.3%)
• Iridium (Johnson Matthey, New York 09:30) currently at US$ 4,500 per troy ounce, down -2.2% (YTD: +73.1%)

AGS MOSTLY ROSE THIS WEEK, LED BY COTTON AND CORN

• Live Cattle (CME) currently at US$ 129.28 cents per pound, up 2.6% (YTD: +12.8%)
• Lean Hogs (CME) currently at US$ 76.08 cents per pound, up 3.8% (YTD: +8.3%)
• Rough Rice (CBOT) currently at US$ 13.28 cents per hundredweight, down -1.7% (YTD: +7.1%)
• Soybeans Composite (CBOT) currently at US$ 1,235.50 cents per bushel, up 1.2% (YTD: -6.0%)
• Corn (CBOT) currently at US$ 568.25 cents per bushel, up 5.6% (YTD: +17.4%)
• Wheat Composite (CBOT) currently at US$ 772.75 cents per bushel, up 2.2% (YTD: +20.6%)
• Sugar No.11 (ICE US) currently at US$ 19.27 cents per pound, up 1.0% (YTD: +24.4%)
• Cotton No.2 (ICE US) currently at US$ 115.14 cents per pound, up 6.1% (YTD: +47.0%)
• Cocoa (ICE US) currently at US$ 2,548 per tonne, down -1.5% (YTD: -2.3%)
• Coffee Arabica (Colombia Excelso) currently at EUR 4,881 per tonne, up 0.1% (YTD: +54.2%)
• Random Length Lumber (CME) currently at US$ 591.60 per 1,000 board feet, down -11.4% (YTD: -32.2%)
• TSR 20 Rubber (Shanghai) currently at CNY 11,420 per tonne, up 0.1% (YTD: +17.6%)
• Soybean Oil Composite (CBOT) currently at US$ 61.26 cents per pound, down -1.3% (YTD: +41.4%)
• Crude Palm Oil (Bursa Malaysia) currently at MYR 5,436 per tonne, up 4.1% (YTD: +38.8%)

SHIPPING THIS WEEK

• Baltic Dry Index (Baltic Exchange) currently at 3,519, down -20.2% (YTD: +157.6%)
• Freightos China To North America West Coast Container Index currently at 19,478, up 20.6% (YTD: +363.8%)
• Freightos North America West Coast To China Container Index currently at 1,083, up 1.8% (YTD: +109.2%)
• Freightos North America East Coast To Europe Container Index currently at 397, unchanged (YTD: +9.4%)
• Freightos Europe To North America East Coast Container Index currently at 7,238, up 0.8% (YTD: +287.3%)
• Freightos China To North Europe Container Index currently at 14,259, up 0.1% (YTD: +151.8%)
• Freightos North Europe To China Container Index currently at 1,332, unchanged (YTD: -3.1%)
• Freightos Europe To South America West Coast Container Index currently at 5,558, unchanged (YTD: +228.5%)

CARBON EMISSION ALLOWANCES (CO2)

• EUA futures front month (European Energy Exchange) currently at EUR 58.71 per tonne, up 0.8% (YTD: +79.4%)