NOTABLE GAINERS THIS WEEK

• CME Cash settled Butter up 9.3% (YTD: 31.2%), now at 193.50
• SHFE Stannum (Tin) up 8.3% (YTD: 93.9%), now at 291,630.00
• CME Non Fat Dry Milk up 7.7% (YTD: 29.8%), now at 146.50
• CME Dry Whey up 7.0% (YTD: 32.5%), now at 58.55
• DCE Coke up 5.1% (YTD: 45.3%), now at 4,359.00
• CME Random Length Lumber up 4.0% (YTD: -29.6%), now at 615.00
• WUXI Metal Cobalt Bi-Monthly up 3.9% (YTD: 51.5%), now at 409.00
• ICE-US Sugar No. 11 up 3.5% (YTD: 28.7%), now at 19.98
• CME Live Cattle up 3.5% (YTD: 16.7%), now at 131.80
• Coffee Arabica Colombia Excelso EP spot up 3.3% (YTD: 59.3%), now at 5,043.00
• Baltic Exchange Dirty Tank up 2.5% (YTD: 75.3%), now at 817.00
• Gold spot up 2.0% (YTD: -4.2%), now at 1,817.63
• Johnson Matthey Rhodium New York 0930 up 1.8% (YTD: -15.8%), now at 14,350.00
• ICE-US Cotton No. 2 up 1.8% (YTD: 49.6%), now at 117.09
• NYMEX Henry Hub Natural Gas up 1.7% (YTD: 117.3%), now at 05.52

NOTABLE LOSERS THIS WEEK

• ICE Europe Newcastle Coal Monthly down -30.5% (YTD: 93.0%), now at 155.40
• Baltic Exchange Capesize Index down -24.6% (YTD: 63.5%), now at 3,280.00
• Baltic Exchange Dry index down -22.8% (YTD: 98.8%), now at 2,715.00
• SGX Iron Ore 62% China CFR Swap Monthly down -22.7% (YTD: -39.9%), now at 93.72
• Baltic Exchange Supramax Index down -22.2% (YTD: 132.5%), now at 2,416.00
• Commodities Exchange Center Iron Ore 62% Fe CFR China (TSI) down -22.1% (YTD: -39.4%), now at 97.17
• Baltic Exchange Panamax Index down -21.2% (YTD: 131.8%), now at 3,071.00
• Baltic Exchange Handysize Index down -12.5% (YTD: 154.9%), now at 1,726.00
• DCE Iron Ore Continuation Month 1 down -8.6% (YTD: -45.6%), now at 586.50
• SHFE Aluminium down -7.5% (YTD: 19.4%), now at 19,095.00
• SHFE Rubber down -6.6% (YTD: -5.0%), now at 12,795.00
• SHFE Rebar down -6.6% (YTD: 6.4%), now at 4,600.00
• ICE-US Cocoa down -5.8% (YTD: -7.9%), now at 2,401.00
• DCE Coking Coal Continuation Month 1 down -5.8% (YTD: 126.6%), now at 3,400.00
• Shanghai International Exchange TSR 20 Rubber down -5.7% (YTD: 10.9%), now at 10,850.00

NET POSITIONS OF MANAGED MONEY (WEEKLY CFTC REPORT)

ENERGY

• Light Sweet Crude reduced net long position
• Ice Brent reduced net long position
• Gasoline RBOB reduced net long position
• No.2 Heating Oil reduced 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 increased net long position
• Palladium increased net short position
• Copper-Grade#1 reduced net long position

AGRICULTURE

• Wheat turned to net long
• Corn increased net long position
• Rough Rice turned to net short
• Oats increased 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 reduced net long position
• Robusta Coffee reduced net long position
• Frozen Orange Juice increased net short position
• Sugar No.11 increased net long position
• White Sugar increased net long position

ENERGY THIS WEEK

• WTI crude front month currently at US$ 81.27 per barrel, down -2.8% (YTD: +67.5%); 6-month term structure in tightening backwardation
• Brent crude front month currently at US$ 82.74 per barrel, down -1.9% (YTD: +59.7%); 6-month term structure in tightening backwardation
• Newcastle Coal (ICE Europe) currently at US$ 155.40 per tonne, down -30.5% (YTD: +93.0%)

• Natural Gas (Henry Hub) currently at US$ 5.52 per MMBtu, up 1.7% (YTD: +117.3%)
• Gasoline (NYMEX) currently at US$ 2.32 per gallon, down -5.7% (YTD: +64.8%); 6-month term structure in widening backwardation
• Low Sulphur Gasoil (ICE Europe) currently at US$ 720.75 per tonne, up 0.3% (YTD: +71.3%)

BASE METALS THIS WEEK

• Copper (COMEX) currently at US$ 4.35 per pound, down -0.6% (YTD: +23.8%)
• Iron Ore (Dalian Commodity Exchange) currently at CNY 586.50 per tonne, down -8.6% (YTD: -45.6%)
• Aluminium (Shanghai) currently at CNY 19,095 per tonne, down -7.5% (YTD: +19.4%)
• Nickel (Shanghai) currently at CNY 143,980 per tonne, down -2.4% (YTD: +14.6%)
• Lead (Shanghai) currently at CNY 15,610 per tonne, down -1.3% (YTD: +5.9%)
• Rebar (Shanghai) currently at CNY 4,600 per tonne, down -6.6% (YTD: +6.4%)
• Tin (Shanghai) currently at CNY 291,630 per tonne, up 8.3% (YTD: +93.9%)
• Zinc (Shanghai) currently at CNY 22,960 per tonne, down -2.9% (YTD: +10.2%)
• Refined Cobalt (Shanghai) spot price currently at CNY 411,000 per tonne, up 1.7% (YTD: +50.0%)
• Lithium (Shanghai) spot price currently at CNY 1,015,000 per tonne, up 6.3% (YTD: +109.3%)

PRECIOUS METALS THIS WEEK

• Gold spot currently at US$ 1,817.63 per troy ounce, up 2.0% (YTD: -4.2%)
• Gold 1-Month ATM implied volatility currently at 12.25, down -4.4% (YTD: -21.4%)
• Silver spot currently at US$ 24.15 per troy ounce, up 1.1% (YTD: -8.4%)
• Silver 1-Month ATM implied volatility currently at 23.10, down 0.0% (YTD: -42.7%)
• Palladium spot currently at US$ 2,034.57 per troy ounce, up 1.5% (YTD: -16.8%)
• Platinum spot currently at US$ 1,033.30 per troy ounce, up 1.5% (YTD: -3.3%)
• Rhodium (Johnson Matthey, New York 09:30) currently at US$ 14,350 per troy ounce, up 1.8% (YTD: -15.8%)
• Iridium (Johnson Matthey, New York 09:30) currently at US$ 4,500 per troy ounce, unchanged (YTD: +73.1%)

AGS THIS WEEK

• Live Cattle (CME) currently at US$ 131.80 cents per pound, up 3.5% (YTD: +16.7%)
• Lean Hogs (CME) currently at US$ 76.55 cents per pound, up 0.6% (YTD: +8.9%)
• Rough Rice (CBOT) currently at US$ 13.29 cents per hundredweight, up 0.1% (YTD: +7.2%)
• Soybeans Composite (CBOT) currently at US$ 1,192.25 cents per bushel, down -3.5% (YTD: -9.4%)
• Corn (CBOT) currently at US$ 553.00 cents per bushel, down -2.7% (YTD: +14.3%)
• Wheat Composite (CBOT) currently at US$ 766.50 cents per bushel, down -0.8% (YTD: +19.7%)
• Sugar No.11 (ICE US) currently at US$ 19.98 cents per pound, up 3.5% (YTD: +28.7%)
• Cotton No.2 (ICE US) currently at US$ 117.09 cents per pound, up 1.8% (YTD: +49.6%)
• Cocoa (ICE US) currently at US$ 2,401 per tonne, down -5.8% (YTD: -7.9%)
• Coffee Arabica (Colombia Excelso) currently at EUR 5,043 per tonne, up 3.3% (YTD: +59.3%)
• Random Length Lumber (CME) currently at US$ 615.00 per 1,000 board feet, up 4.0% (YTD: -29.6%)
• TSR 20 Rubber (Shanghai) currently at CNY 10,850 per tonne, down -5.7% (YTD: +10.9%)
• Soybean Oil Composite (CBOT) currently at US$ 58.78 cents per pound, down -4.1% (YTD: +35.7%)
• Crude Palm Oil (Bursa Malaysia) currently at MYR 5,330 per tonne, up 0.2% (YTD: +36.7%)

SHIPPING THIS WEEK

• Baltic Dry Index (Baltic Exchange) currently at 2,715, down -22.8% (YTD: +98.8%)
• Freightos China To North America West Coast Container Index currently at 18,730, down -3.8% (YTD: +346.0%)
• Freightos North America West Coast To China Container Index currently at 1,158, up 8.8% (YTD: +123.7%)
• 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 7,305, up 0.9% (YTD: +290.8%)
• Freightos China To North Europe Container Index currently at 14,219, down -0.3% (YTD: +151.1%)
• Freightos North Europe To China Container Index currently at 1,290, down -3.2% (YTD: -6.2%)
• Freightos Europe To South America West Coast Container Index currently at 5,227, down -6.0% (YTD: +209.0%)

CARBON EMISSION ALLOWANCES (CO2)

• EUA futures front month (European Energy Exchange) currently at EUR 59.39 per tonne, up 1.2% (YTD: +81.5%)