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

[behappyalways]

Olive prices are surging in Spain with Olive Oil prices reaching a record high because of heat waves and water shortages.

https://twitter.com/AyeshaTariq/status/ ... 1661783045

[behappyalways]

Record Olive Oil Prices Keep Italian Pizza-Making Costs High
https://www.zerohedge.com/commodities/r ... costs-high

[behappyalways]

It gets posted a lot but this remains one of the most important charts in the world, imo.

Global Primary Energy Consumption By Source:-

https://twitter.com/LynAldenContact/sta ... 7651629056

[behappyalways]

Here is the list Critical Raw Materials the U.S. deems to have the highest supply risk (See graphic
https://twitter.com/michaeltanchum/stat ... 9045987328

[winston]

India imposes 40% export duty on onions with immediate effect

India's annual retail inflation rose sharply to a 15-month high of 7.44% in July, from 4.87% the previous month.

Food inflation, which accounts for nearly half of the overall consumer price basket, hit 11.51%. Retail food inflation was at its highest since January 2020.

Prices of some of the most used vegetables in Indian kitchens, including tomatoes, onions, peas, brinjal, garlic and ginger, have more than doubled in the last few months.

Source: Reuters

https://theedgemalaysia.com/node/679293

[winston]

How China’s faltering growth threatens to derail commodities markets

Traders are contending with a protracted crisis in the property market, deflation, weak exports and a falling yuan.

Structural challenges include the government’s desire to pivot to an economy led by consumption instead of investment — helpful for fuel and food demand but not for old economy metals driven by construction.

Base metals have retreated from their January high as the economy has lost steam, crushing margins at smelters and fabricators.

Inventories of copper and aluminium, the most widely used base metals, have dropped, with stockpiles of the former near critical levels.

Construction accounts for as much as 40% of China’s steel demand, and iron ore, the main input for blast furnaces, is a totem of the old economy. The state of the property market means steelmakers are probably going to be cautious about tapping more imports to replenish supplies,

Domestically, the picture is bleaker. Diesel consumption is being pegged back by weak industrial activity, while gasoline demand is challenged by faster adoption of electric vehicles.

China’s economic activity is underpinned by coal, its mainstay fuel. Beijing has boosted both output and imports to drive a rebound that has ultimately disappointed, creating a glut that has left prices languishing.

The disappointing recovery has left pig farmers mostly loss-making for the year, and the pork market in surplus.

Source: Bloomberg

https://theedgemalaysia.com/node/679755

[behappyalways]

What Electricity Sources Power The World?
https://www.zerohedge.com/energy/what-e ... ower-world

[behappyalways]

One Of China's Biggest Commodity Traders Goes Missing
https://www.zerohedge.com/commodities/o ... es-missing

[behappyalways]

Citigroup Takes Delivery Of 100,000 Tons Of Aluminum And 40,000 Tons Of Zinc
https://www.zerohedge.com/commodities/c ... -tons-zinc

[winston]

India restricts onion exports to boost domestic supply

Source: Bernama

https://theedgemalaysia.com/node/688009