For the week, WTI was up 8.63%, its strongest week since October 7, when WTI gained 16.54%. Like equities, oil and commodity markets face the possible fallout from this week’s January inflation data releases, especially the Consumer Price Index (CPI) tomorrow. …………The number of oil rigs operating in the US reversed the previous week’s fall to rise by 10 last week, according to energy-services firm Baker Hughes. And Comex March copper fell 8 cents to $US4.02 a pound to be down 0.9% for the week. SGX coking coal futures prices are up a very solid 25% so far this year.
In regard to the global supply of MOP and SOP, China, Belarus, and Russia account for roughly 50% of its trade. And in regard to SOP, China alone accounts for two-thirds of the global population, and 60% of the global consumption. The U.S. Geological Survey stating that this region controls about half of the global supply. SOP and Lithium BrinesBoth SOP and lithium use brines for methods of extraction, a process that is quite similar for both. ConclusionConcentrated supply chains in combination with excess levels of demand are major problems for both SOP and lithium.5 months ago ShareCafe
There’s also inflation and unemployment data from Europe, Jobs data from Japan and output. In the US it’s a toss-up between the speech by the Fed chair on Wednesday and the jobs data on Friday. Obviously he has something to say about policy, if he didn’t want to say anything, Powell would not be speaking. The eurozone sees ‘flash’ data on inflation and unemployment for November on Wednesday and Thursday. In Australia, the monthly inflation data for October (on Wednesday) from the Australian Bureau of Statistics is forecast to show a further lift in inflation to an annual rate of 7.4%.3 months ago ShareCafe
US equities were higher in choppy Tuesday afternoon trading, just off best levels as the market staged a late-afternoon rally. CommoditiesIron ore is 1.3 per cent higher at US$89.05 tonne. Figures around the globeAcross the Atlantic, European markets closed higher. Paris added 0.4 per cent, Frankfurt gained 1.2 per cent and London’s FTSE closed 0.1 per cent higher. Ex-dividendsCSR (ASX:CSR) is paying 16.5 cents fully frankedKMD Brands (ASX:KMD) is paying 2.2719 cents fully frankedNAOS Ex-50 Opportunities Company (ASX:NAC) is paying 1.4 cents fully frankedNAOS Small Cap Opportunities Company (ASX:NSC) is paying 1.25 cents fully frankedResMed Inc (ASX:RMD) is paying 4.7305 cents unfrankedWaterco (ASX:WAT) is paying 5 cents fully frankedSources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap.4 months ago ShareCafe
At noon, the S&P/ASX 200 is 0.62 per cent or 42.10 points lower at 6,803.00. The best-performing stock in the S&P/ASX 200 is Qube Holdings (ASX:QUB), trading 5.47 per cent higher at $2.70. The Nikkei 225 in Japan has fallen 0.89 per cent so far, while the Topix has dipped 0.51 per cent. Widespread scepticism about effectiveness of a global price cap, with the World Bank saying cap would need much broader participation to be effective. On the Australian market, shares are trading down 6.3 per cent at 15 cents.5 months ago ShareCafe
OZ Minerals and BHP have resumed their marriage talks trying to find a dowry in the form of an offer price that will see the deal appeal both to shareholders and the market generally. OZ rejected the initial approach because it believed that the indicative proposal significantly undervalued OZ Minerals and was not in the best interests of shareholders. OZ quickly changed tack on the West Musgrave copper-nickel project in far eastern WA (near the border with South Australia). In its September quarter report, OZ also floated the idea of taking in a partner for West Musgrave. OZ also again trawled the idea of a partner to develop West Musgrave and possibly the MHP plant and output.4 months ago ShareCafe
The Energy Transition Needs MetalThe energy sector is the world’s largest source of greenhouse gas emissions. This reflects the forecasted shift in revenues away from coal miners and towards energy transition metals miners, as shown in the chart above. Source: Bloomberg, 19 October 2022In Global X’s view, energy transition metals miners will likely trade on higher valuations for the foreseeable future. The Growth of ESG MandatesProviding further support for energy transition metals miners could be ESG investment mandates. Related FundsFor those wishing to invest in energy transition metals miners, Global X Green Metal Miners ETF (GMTL) provides a way to do so.4 months ago ShareCafe
At the closing bell, the S&P/ASX 200 was 0.44 per cent higher at 7,490.40. The best-performing large cap was Mineral Resources (ASX:MIN), closing 5.28 per cent higher at $96.28. Shares closed 0.58 per cent higher at $3.47. The figures show strong performance in key leading indicators, including a 33 per cent increase in Invoice Finance loan facilities, 69 per cent increase in the number of transactions processed and a 41 per cent increase in payment volume from the prior quarter. Shares closed 3.85 per cent higher at 13.5 cents.2 months ago ShareCafe