Commodities - General News 04 (May 18 - Dec 25)

[behappyalways]

China Leads The World In Critical Minerals Production
https://www.zerohedge.com/commodities/c ... production

[winston]

Hedge funds most bearish on commodities since at least 2011

Hedge funds are the most bearish on commodities prices in at least 13 years as fears of a deeper economic slowdown cast doubts on demand for everything from crude oil to metals and grains.

Net-short position of almost 153,000 futures and options across 20 raw-material markets in the week ended last Tuesday (Aug 6). That’s the most on record, based on figures going back to 2011.

A slowdown in China – the biggest demand growth engine for the past two decades – and a rebound in production, recent market turmoil caused by US recession fears, exacerbated the move.

Rising supplies of energy and agricultural commodities, declining China demand and a stronger dollar as “solid price headwinds”. “It’s a bear market”.

Source: Bloomberg

https://www.businesstimes.com.sg/compan ... least-2011

[behappyalways]

Gold prices soar!
Ghana opens its first "refinery" to consolidate national treasury and create jobs

金價飆! 迦納啟用首座「煉金廠」 鞏固國庫.創造就業｜葉佳蓉｜FOCUS全球新聞 20240809 ‪@tvbsfocus‬

https://m.youtube.com/watch?v=mudDdpJNEGM

[winston]

Giant metal stockpile in Singapore sparks rare warehouse battle

METAL stockpiles are surging in Singapore.

Refined zinc and lead have been pouring into Singapore since the middle of last year.

The combined inventories of the two base metals in the London Metal Exchange’s (LME) Singapore-registered warehouses have grown more than tenfold since May 2023 to a record of almost 430,000 tonnes in recent weeks,

Soft demand in China is the ultimate reason.

With storage costs high, traders are boosting their revenue through lucrative “rent sharing” agreements with metals warehouses.

The agreements – more commonly used in copper and aluminium warehouses in other countries – can result in about half of the storage costs getting shared with trading companies.

Source: Bloomberg

https://www.businesstimes.com.sg/intern ... use-battle

[behappyalways]

Norway’s Move to Explore $92B of Deep Sea Minerals | WSJ
https://m.youtube.com/watch?v=94zn-OimoHQ

[winston]

“I have an eccentric view on commodities not necessarily shared by my colleagues - or by almost anybody. And that is, we're running out of everything. “

- Jeremy Grantham

[behappyalways]

China Steel Mill Profits Collapse, Goldman Issues: "Bleak Outlook" For Iron Ore
https://www.zerohedge.com/commodities/c ... k-iron-ore

[behappyalways]

Visualizing $5 Trillion In Global Commodity Exports, By Sector
https://www.zerohedge.com/commodities/v ... rts-sector

[winston]

Goldman slashes copper forecast on softening Chinese demand

By Sybilla Gross

The sharp drop in copper inventories that the bank had been anticipating would come much later than previously thought.

Goldman cut its estimate for the metal to US$10,100 per tonne for next year and pushed back its previous end-2024 forecast of US$12,000 to post-2025.

The bank also downgraded its 2025 price prediction for aluminium to US$2,540 per tonne from US$2,850.

It maintained bearish views on iron ore and nickel, and said gold was its preferred near-term hedge against geopolitical and financial risks.

Gold stands out as “the commodity where we have the highest confidence in bear-term upside as it maintained its US$2,700 an ounce target for early 2025.

The precious metal will be driven by increased flows from managed money players in the West as the Federal Reserve prepares to cut rates, while ongoing voracious demand from central banks will continue to add support.

Source: Bloomberg

https://theedgemalaysia.com/node/725316

[behappyalways]

Which Countries Dominate The Supply Chain For Strategic Metals?
https://www.zerohedge.com/commodities/w ... gic-metals