Russell: Trump's tariffs on copper won't boost US production, but will increase costs
The proposed 50% tariff on imported copper may be the most embarrassing own goal in the ongoing trade war between the United States and the rest of world. Trump announced Wednesday that the tariff would take effect on August 1. Trump's statement was quite definitive, but there are still many questions. For example, what products would be included in the definition? And…
Russell: Trump's tariffs on copper won't boost US production, but will increase costs
The proposed 50% tariff on imported copper may be the most embarrassing own goal in the ongoing trade war between the United States and the rest of world. Trump announced Wednesday that the tariff would take effect on August 1. Trump's statement was quite definitive, but there are still many questions. For example, what products would be included in a definition of copper?
CMOC IXM declares Force Majeure on Cobalt Deliveries from Congo
IXM, a commodity trader owned by China's CMOC Group has declared force majeure for deliveries of cobalt from the Democratic Republic of Congo, after the country extended the ban on exports of battery material. In February, the Congo suspended all cobalt exports for four months to reduce oversupply and stabilize prices which were at a nine-year-low of around $10 per lb.
What is more influential on crude oil? What is more influential: US bombs, or Iran's quiet allies?
The sharp decline in the Israel-Iran War Premium for Crude Oil shows how a few key words can move the market. However, it also hides the influence of those who remain largely silent. Brent futures, the global benchmark, plunged after U.S. president Donald Trump announced a "complete" and "total" ceasefire will be implemented between Israel and Iran. Brent crude oil ended Monday at $71.48 per barrel, down 7.2% compared to its previous close.
What is more influential on crude oil? What is more influential: US bombs, or Iran's quiet allies?
The sharp decline in the Israel-Iran War Premium for Crude Oil shows how a few key words can move the market. However, it also hides the influence of those who remain largely silent. Brent futures, the global benchmark, plunged after U.S. president Donald Trump announced a "complete" and "total" ceasefire will be implemented between Israel and Iran. Brent crude oil ended Monday at $71.48 per barrel, down 7.2% compared to its previous close.
Thermal Coal May Offer An Affordable Solution As LNG Prices Rise
Thermal coal may end up as a major beneficiary of escalating hostilities in the Middle East, as the fuel used to generate electricity becomes cheaper than one of its main competitors liquefied natural gas (LNG).Much of the focus of the potential fallout from the conflict between Israel, and now the United States, and Iran is the threat to crude oil and refined fuels…
Russell: Iran tensions are a factor in making thermal coal more affordable than LNG.
The escalating conflict in the Middle East may result in thermal coal being a major winner, since the fuel used for electricity generation is now cheaper than its main competitor, liquefied gas (LNG). The threat of crude oil and refined fuels being shipped through the Strait of Hormuz is a major concern of those who are concerned about the possible fallout of the conflict between Israel and the United States and Iran.
Russell: Iran tensions are a factor in making thermal coal more affordable than LNG.
The escalating conflict in the Middle East may result in thermal coal being a major winner, since the fuel used for electricity generation is now cheaper than its main competitor liquefied gas (LNG). The threat of crude oil and refined fuels being shipped through the Strait of Hormuz is a major concern of those who are concerned about the possible fallout of the conflict between Israel and the United States and Iran.
Russell: What is not happening in Middle East crude oil supply matters more.
It can be useful to consider what isn't happening in the Middle East when tensions are rising. On the crude oil markets, this means that we should focus on the fact there has not been a single barrel lost. All parties are interested in this situation. Crude oil prices increased again during early Asian trade on Monday. Brent futures, the global benchmark, gained 2.1% and traded at $75.76 per barrel.
Russell: What is not happening in Middle East crude oil supply is more important than what is.
In times of increased tensions in the Middle East, it's more important to focus on what isn't happening than to fixate on the dramatic headlines about tit-fortat air and rocket strikes between Israel and Iran. This means that from the perspective of the crude oil market, it's important to focus on the fact that not a single barrel of crude supply has been lost. It is also in the interest of all parties involved that this continues to be the case.
Russell: China-US deal pushes rare earths to the back burner
Although the tentative agreement between the United States, and China represents a step back from the worst case scenario of a complete collapse of trade between two of the largest economies in the world, it actually creates more issues than it fixes. The agreement is subject to final approvals from both sides. President Donald Trump called it a "great bargain" that would be beneficial for both countries.
Russell: China-US deal pushes rare earths to the back burner
Although the tentative agreement between the United States, and China represents a step back from the worst case scenario of a complete collapse of trade between two of the largest economies in the world, it actually creates more issues than it fixes. The agreement is subject to final approvals from both sides. President Donald Trump called it a "great bargain" that would be beneficial for both countries.
Russell: No rush to import US energy while Asia's imports slide under Trump
Asian countries have not rushed to buy U.S. commodities, despite President Donald Trump's call for a reduction in trade surpluses. The real deal in any future talks between China and the Trump administration will involve the three major energy commodities. Other Asian economies are also looking to curry favor with Trump, and secure a better deal for themselves than the heavy tariffs that were imposed by his "Liberation Day"…
Russell: No rush to import US energy while Asia's imports slide under Trump
Asian countries have not rushed to buy U.S. commodities of energy, despite President Donald Trump's call for a reduction in trade surpluses. The real deal in any future talks between China and the Trump administration will involve the three major energy commodities. Other Asian economies are also looking to curry favor with Trump, and secure a better deal for themselves than the heavy tariffs that were imposed by his "Liberation Day"…
China's imports major commodities suffered a hiccup in the month of May: Russell
China's imports have slowed in May. Crude oil, coal and iron ore all saw declines, amid worries about the growth of the world's largest economy. Customs data released Tuesday showed that only natural gas imports improved, with 10.11 million tons in May slightly above the 9.67 millions in April. However, they were still 11% lower than a year ago. The arrivals of crude oil in May fell to 10…
China's imports major commodities suffered a hiccup in the month of May: Russell
China's imports have slowed in May. Crude oil, coal and iron ore all saw declines, amid worries about the growth of the world's largest economy. Customs data released Tuesday showed that only natural gas imports improved, with 10.11 million tons in May slightly above the 9.67 millions in April. However, they were still 11% lower than a year ago. The arrivals of crude oil in May fell to 10…
Trafigura announces new management changes
Trafigura, a global commodities trader, announced on Friday a round of new management changes. Two people were appointed to the executive committee while one person left. These moves are the latest in the series of leadership transitions that have taken place at the Swiss-based trading firm in recent years. A new generation of leaders is emerging under the new chief executive Richard Holtum.
Trafigura announces new management changes
Trafigura, a global commodities trader, announced on Friday a round of new management changes. Two people were appointed to the executive committee while one person left. These moves are the latest in the series of leadership transitions that have taken place at the Swiss-based trading firm in recent years. A new generation of leaders is emerging under the new chief executive Richard Holtum.
EUROPE GAS-Prices rise amid Ukraine concerns, strong demand
Dutch and British wholesale prices for gas rose Monday morning, as market demand and concerns about a possible peace agreement with Ukraine supported the market. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up 2,19 euros, or 14,19/mmBtu at 46,50 euros per Megawatt Hour (MWh), by 0914 GMT. The Dutch May contract increased by 2.15 euros to 46.80 Euros/MWh.
Prices near four-week-low on US-Russian talks and weaker demand
Dutch and British wholesale prices of gas held near four-week lows, as the market awaited the outcome of talks between the U.S.A. and Russia on how to end conflict in Ukraine. Strong renewables output also curbed demand. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was down 0.07 euros at 47.65 Euro per Megawatt Hour (MWh), which is $14.60/mmBtu by 0913 GMT.
