Opalesque Commodities Briefing » Market Moves http://www.opalesque.com/Commodities_Briefing Wed, 30 Nov 2016 00:03:38 +0000 http://wordpress.org/?v=2.5.1 en The Year the World Felt the Might of China’s Commodity Traders http://www.opalesque.com/Commodities_Briefing/?p=144569 http://www.opalesque.com/Commodities_Briefing/?p=144569#comments Wed, 30 Nov 2016 00:03:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144569 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144569>Article Link</a> The Chinese speculators shaking up global commodity markets are switched-on, flush with cash and probably not getting enough sleep. For the second time this year, trading has exploded on the nation’s exchanges, pushing prices of everything from zinc to coal to multi-year highs and sending authorities scrambling to deflate the bubble before it bursts. (more…)

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Can OPEC still swing global oil prices? We’re about to find out http://www.opalesque.com/Commodities_Briefing/?p=144566 http://www.opalesque.com/Commodities_Briefing/?p=144566#comments Wed, 30 Nov 2016 00:02:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144566 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144566>Article Link</a> Two years ago, global oil prices crashed after the world started pumping out far more crude than anyone needed. That plunge, from $100 per barrel down to $45 per barrel, completely upended the global economy — and cost oil producers like Saudi Arabia billions of dollars in lost revenue. (more…)

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Saudi Arabia’s oil problems run far deeper than OPEC http://www.opalesque.com/Commodities_Briefing/?p=144564 http://www.opalesque.com/Commodities_Briefing/?p=144564#comments Wed, 30 Nov 2016 00:02:19 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144564 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144564>Article Link</a> Saudi Arabia’s problems run far deeper than trying to cobble together a deal with fellow OPEC members to curb crude oil output in order to bolster prices. About two-thirds of Saudi Arabia’s oil exports head to Asia, and the kingdom’s struggles in the region’s two biggest importers, China and India, are symptoms of its wider issues in crude markets. (more…)

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Goldman Sees OPEC Meeting Down to the Wire With 30% Odds of Deal http://www.opalesque.com/Commodities_Briefing/?p=144563 http://www.opalesque.com/Commodities_Briefing/?p=144563#comments Wed, 30 Nov 2016 00:02:04 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144563 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144563>Article Link</a> The oil market is pricing in a 30 percent chance of producers reaching a deal to cut output at OPEC’s meeting in Vienna, according to Goldman Sachs Group Inc. Global benchmark Brent crude may swing $6 a barrel on Wednesday, based on implied volatility for options contracts, analysts including Damien Courvalin and Jeff Currie said in a report Monday. (more…)

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Deal Or No Deal, OPEC Can’t Win In Fight Against American Frackers http://www.opalesque.com/Commodities_Briefing/?p=144562 http://www.opalesque.com/Commodities_Briefing/?p=144562#comments Wed, 30 Nov 2016 00:01:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144562 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144562>Article Link</a> Like celebrating Thanksgiving with a houseful of in-laws, OPEC’s autumn meeting in Vienna brings a combination of joy and dread. Something unexpected usually crops up, but the headlines out of both meetings are about the same year after year: (more…)

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Here’s Why Gold Could Fall All The Way To $700 http://www.opalesque.com/Commodities_Briefing/?p=144560 http://www.opalesque.com/Commodities_Briefing/?p=144560#comments Wed, 30 Nov 2016 00:01:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144560 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144560>Article Link</a> Even though the markets haven’t behaved logically of late, it would have seemed a slam dunk for gold to rise if Donald Trump won. After all, we faced uncertainty around his policies, rising inflation from infrastructure spending, and higher expected growth rates. (more…)

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Zinc rises to highest since 2007 http://www.opalesque.com/Commodities_Briefing/?p=144558 http://www.opalesque.com/Commodities_Briefing/?p=144558#comments Wed, 30 Nov 2016 00:00:42 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144558 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144558>Article Link</a> The rally in metals is showing no signs of slowing down. The Bloomberg Industrial Metals sub-index posted the biggest five-day gain since 2011, as zinc touched a nine-year high. Prices rallied after China’s top economic commission approved a $36 billion plan on new rail links around Beijing, boosting demand for industrial raw materials. (more…)

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Global food prices to stay low in 2017: Rabobank report http://www.opalesque.com/Commodities_Briefing/?p=144549 http://www.opalesque.com/Commodities_Briefing/?p=144549#comments Tue, 29 Nov 2016 01:19:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144549 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144549>Article Link</a> High global stock levels expected to keep food prices low during 2017, however, Donald Trump presidency may bring currency uncertainty that will translate into volatile food prices, Rabobank said in its Agri Commodity Market Outlook for 2017 here. (more…)

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Goldman Commodities Outlook: Metals & Oil Strength, Gold Suffers http://www.opalesque.com/Commodities_Briefing/?p=144547 http://www.opalesque.com/Commodities_Briefing/?p=144547#comments Tue, 29 Nov 2016 01:18:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144547 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144547>Article Link</a> Commodities analysts at Goldman Sachs raised their outlook for base metals prices on Monday with currencies as a tailwind, but lowered their gold projection and offered a mixed outlook for Australia-based metals producers as the commodities cycle peaks. (more…)

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Russia, Iran agree to coordinate on oil and gas markets -Kremlin http://www.opalesque.com/Commodities_Briefing/?p=144542 http://www.opalesque.com/Commodities_Briefing/?p=144542#comments Tue, 29 Nov 2016 01:17:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144542 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144542>Article Link</a> Russian President Vladimir Putin and his Iranian counterpart Hassan Rouhani agreed in a telephone call on Monday to coordinate steps on global oil and gas markets, the Kremlin said. (more…)

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Iron ore price means short-term budget relief, not repair http://www.opalesque.com/Commodities_Briefing/?p=144536 http://www.opalesque.com/Commodities_Briefing/?p=144536#comments Tue, 29 Nov 2016 01:16:11 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144536 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144536>Article Link</a> A bounce in the iron ore price to near two-year highs may deliver a short-term boost to the federal budget, but economists warn the benefit could be short-lived and only offset slower-than-expected wages and employment growth. (more…)

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Zinc Prices Hit An 8-Year High: Did You Miss The Rally? http://www.opalesque.com/Commodities_Briefing/?p=144535 http://www.opalesque.com/Commodities_Briefing/?p=144535#comments Tue, 29 Nov 2016 01:15:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144535 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144535>Article Link</a> Remember when Barack Obama defeated republican presidential nominee Senator John McCain? Or Usain Bolt’s first appearance in the Olympic games? Well… that’s how far back you need to go if you want to see zinc prices as high as they are now. (more…)

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Doubts shadow the recent commodities rally http://www.opalesque.com/Commodities_Briefing/?p=144525 http://www.opalesque.com/Commodities_Briefing/?p=144525#comments Thu, 24 Nov 2016 23:10:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144525 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144525>Article Link</a> Commodities prices have begun rising from their long slump, providing good news for the embattled shipping trade. But uncertainty and ambiguity in China, whose demand dictates the prices of many resources, are casting doubts over how long the rebound can last. (more…)

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Trump’s win pushes OPEC to cut production, says BofA’s Blanch http://www.opalesque.com/Commodities_Briefing/?p=144519 http://www.opalesque.com/Commodities_Briefing/?p=144519#comments Thu, 24 Nov 2016 23:08:40 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144519 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144519>Article Link</a> The election of Donald Trump to the presidency gives OPEC members another reason to agree to oil production cuts when they meet next week, says Bank of America Merrill Lynch’s head of global commodities and derivatives research. (more…)

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For OPEC’s Rivals, Success Lies in an Oil Market Far, Far Away http://www.opalesque.com/Commodities_Briefing/?p=144515 http://www.opalesque.com/Commodities_Briefing/?p=144515#comments Thu, 24 Nov 2016 23:07:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144515 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144515>Article Link</a> Rivals of OPEC seeking to reach its most-prized oil customers are finding that the long way around is better than any shortcut to success. As the group seeks to implement a deal to limit output, the glut that was exacerbated by its prior strategy of keeping taps open has spawned a market structure that’s benefiting competitors in sales to Asia. (more…)

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OPEC’s Last Push for Oil-Cuts Deal Shifts Focus to Iran, Russia http://www.opalesque.com/Commodities_Briefing/?p=144514 http://www.opalesque.com/Commodities_Briefing/?p=144514#comments Thu, 24 Nov 2016 23:07:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144514 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144514>Article Link</a> OPEC’s final push to implement the Algiers supply accord and boost oil prices shifted focus to Iran and non-members such as Russia as Iraq appeared to reverse its opposition to output cuts. (more…)

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Copper Rises Further on Manufacturing Spending Hopes http://www.opalesque.com/Commodities_Briefing/?p=144509 http://www.opalesque.com/Commodities_Briefing/?p=144509#comments Thu, 24 Nov 2016 23:05:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144509 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144509>Article Link</a> Metal’s price hits 17-month high as U.S. durable goods data jumps 4.8%. Copper prices hit a 17-month high on Thursday morning in London as bullish expectations for manufacturing spending outweighed the dollar hitting multiyear highs. (more…)

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Copper: The commodities slouch that has found top gear http://www.opalesque.com/Commodities_Briefing/?p=144508 http://www.opalesque.com/Commodities_Briefing/?p=144508#comments Thu, 24 Nov 2016 23:05:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144508 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144508>Article Link</a> Mood begins to turn on the metal as long-held assumptions are questioned. This year’s commodities slouch is playing catch up. Copper has suddenly burst into life, surging 14 per cent this month to above $5,500 a tonne as investors start to pick apart widely-held assumptions about the underlying dynamic for a metal used in everything from wiring to power grids. (more…)

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OPEC talks struggle with question of market share: Kemp http://www.opalesque.com/Commodities_Briefing/?p=144490 http://www.opalesque.com/Commodities_Briefing/?p=144490#comments Wed, 23 Nov 2016 23:13:13 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144490 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144490>Article Link</a> OPEC officials are struggling to reach a final agreement on how to share out production cuts implied by the preliminary output accord agreed by ministers in September. In theory, all OPEC members would benefit in absolute terms if an output cut produced even a modest and sustained rise in oil prices, so there are strong financial incentives for a deal. (more…)

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Is Gold Less Precious Now? http://www.opalesque.com/Commodities_Briefing/?p=144486 http://www.opalesque.com/Commodities_Briefing/?p=144486#comments Wed, 23 Nov 2016 23:12:11 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144486 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144486>Article Link</a> On a day when the Dow Jones Industrial Average touched 19,000 for the first time in history, investors would be forgiven for asking themselves if the shine has come off gold as a safe-haven investment. (more…)

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U.S. Reflation and the Commodities Market (Video) http://www.opalesque.com/Commodities_Briefing/?p=144474 http://www.opalesque.com/Commodities_Briefing/?p=144474#comments Tue, 22 Nov 2016 23:26:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144474 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144474>Article Link</a> Krishna Memani, chief investment officer at OppenheimerFunds, discusses the issues driving the rise of the commodities market, re-inflating the U.S. economy, and the risks of the Japanese-style stagnation in the U.S. He speaks on “Bloomberg Daybreak: Americas.”. (more…)

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Commodity forecasts might not be spot-on http://www.opalesque.com/Commodities_Briefing/?p=144473 http://www.opalesque.com/Commodities_Briefing/?p=144473#comments Tue, 22 Nov 2016 23:25:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144473 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144473>Article Link</a> If broker UBS is right, yesterday’s virile performance by our blue-chip miners should be only the beginning, with BHP Billiton and pure-play iron ore king Fortescue Metals worth more than double their current value on current commodity prices. (more…)

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How Opec Deal Talk is Driving Oil and Commodity Prices http://www.opalesque.com/Commodities_Briefing/?p=144470 http://www.opalesque.com/Commodities_Briefing/?p=144470#comments Tue, 22 Nov 2016 23:24:52 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144470 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144470>Article Link</a> Oil surged for a third day on signs OPEC members have made progress toward finalizing a deal to cut output. January futures rose as much as 1.5 percent in New York after the December contract expired 3.9 percent higher Monday. (more…)

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Iran and Iraq Stumbling Blocks to OPEC Production Cut http://www.opalesque.com/Commodities_Briefing/?p=144467 http://www.opalesque.com/Commodities_Briefing/?p=144467#comments Tue, 22 Nov 2016 23:23:56 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144467 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144467>Article Link</a> Iran and Iraq have emerged as major stumbling blocks as OPEC officials tried to make progress on the broad outlines of a production cut that would thrust the cartel back into the position of directly trying to influence petroleum prices. (more…)

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Potential gold-import ban by India could be biggest bombshell since Nixon http://www.opalesque.com/Commodities_Briefing/?p=144464 http://www.opalesque.com/Commodities_Briefing/?p=144464#comments Tue, 22 Nov 2016 23:22:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144464 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144464>Article Link</a> Back in August 1971, President Nixon shocked the world by taking the dollar off the gold standard. The dollar had been on gold standard since Bretton Woods Agreement of 1944. The biggest bombshell for gold investors in 45 years since Nixon announcement may be ahead. (more…)

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Iron ore, steel rally in China as speculators return http://www.opalesque.com/Commodities_Briefing/?p=144462 http://www.opalesque.com/Commodities_Briefing/?p=144462#comments Tue, 22 Nov 2016 23:22:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144462 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144462>Article Link</a> Iron ore and steel are resuming their rally in China as investors return to the market to pick up commodities made cheaper after days of steep losses, but a shaky demand outlook suggests the gains will again be fleeting. (more…)

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Steel and its raw materials rally again http://www.opalesque.com/Commodities_Briefing/?p=144461 http://www.opalesque.com/Commodities_Briefing/?p=144461#comments Tue, 22 Nov 2016 23:21:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144461 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144461>Article Link</a> Prices of steel and its raw materials soared to hit their trade limits in China on Tuesday as investors returned to the market to pick up sold-off commodities, but a shaky demand outlook suggests the gains would again be fleeting. (more…)

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Goldman Overweights Commodities for First Time in Four Years http://www.opalesque.com/Commodities_Briefing/?p=144451 http://www.opalesque.com/Commodities_Briefing/?p=144451#comments Mon, 21 Nov 2016 23:18:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144451 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144451>Article Link</a> Goldman Sachs Group Inc. said investors should bet on higher commodities prices in the next year as manufacturing picks up around the world, the first time the bank has recommended an overweight position for the asset class in more than four years. (more…)

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Economics of an OPEC deal make a lot of sense http://www.opalesque.com/Commodities_Briefing/?p=144447 http://www.opalesque.com/Commodities_Briefing/?p=144447#comments Mon, 21 Nov 2016 23:16:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144447 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144447>Article Link</a> Not only will OPEC reach a deal this month, but Goldman Sachs’ global head of commodities research said the cartel will have to “take it to conclusion” once the process starts. (more…)

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Preparing Your Portfolio for an OPEC Oil Agreement (Video) http://www.opalesque.com/Commodities_Briefing/?p=144446 http://www.opalesque.com/Commodities_Briefing/?p=144446#comments Mon, 21 Nov 2016 23:16:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144446 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144446>Article Link</a> Bob Doll, chief equity strategist at Nuveen Asset Management, discusses the prospect of an OPEC oil output deal and his investment strategy ahead of this month’s meeting. He speaks on “Bloomberg Daybreak: Americas.”. (more…)

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Russians, Chinese Supporting Gold Price http://www.opalesque.com/Commodities_Briefing/?p=144444 http://www.opalesque.com/Commodities_Briefing/?p=144444#comments Mon, 21 Nov 2016 23:15:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144444 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144444>Article Link</a> Gold threatened to breach the $1,200 level on Friday before rebounding. The sentiment was helped by word that the Russian central bank added 1.3 million ounces to reserves in October and that was before the price drop. The Chinese and Russians have been supporting the market below $1,250 this month, which is helping to offset the large futures and ETF liquidation. (more…)

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Is the copper mine supply wave peaking? Andy Home http://www.opalesque.com/Commodities_Briefing/?p=144442 http://www.opalesque.com/Commodities_Briefing/?p=144442#comments Mon, 21 Nov 2016 23:15:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144442 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144442>Article Link</a> Copper’s recent turbo-charged rally has upended the market’s narrative of supply surplus. Too much supply was supposedly the reason why copper, until this month, was the worst performer among the base metals traded on the London Metal Exchange (LME). (more…)

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Is the copper rally for real? http://www.opalesque.com/Commodities_Briefing/?p=144441 http://www.opalesque.com/Commodities_Briefing/?p=144441#comments Mon, 21 Nov 2016 23:14:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144441 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144441>Article Link</a> Copper’s aggressive advance in the week since Donald Trump was elected president of the United States suggests investors are more bullish about growth than they have been in years, but strategists wonder if the rally is for real. (more…)

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Non-oil commodity prices on the move http://www.opalesque.com/Commodities_Briefing/?p=144431 http://www.opalesque.com/Commodities_Briefing/?p=144431#comments Sun, 20 Nov 2016 23:44:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144431 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144431>Article Link</a> The possible implications of a Trump presidency in the United States are spurring notable movements in other commodities apart from oil. Copper, in particular, has put in a stellar showing. Prices soared to a 17-month high following the Nov 8 election, and were up 18.6 per cent as at last Friday since the start of the year. (more…)

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Commodities: Is the bull market out of puff as speculators run for the exits? http://www.opalesque.com/Commodities_Briefing/?p=144430 http://www.opalesque.com/Commodities_Briefing/?p=144430#comments Sun, 20 Nov 2016 23:44:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144430 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144430>Article Link</a> For the commodity bulls out there, the past few months have been rollicking fun. Coking coal prices have tripled since mid-year and iron ore has doubled since January. However, in the past week or so, the news flow has turned somewhat negative. (more…)

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Will Russian Oil Break America’s “Marriage” To Saudi Arabia? http://www.opalesque.com/Commodities_Briefing/?p=144426 http://www.opalesque.com/Commodities_Briefing/?p=144426#comments Sun, 20 Nov 2016 23:43:47 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144426 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144426>Article Link</a> For years, Saudi Arabia was a close American ally, while Russia was a distant enemy. That’s why America purchased a lot of oil from Saudi Arabia and very little from Russia. For the period 1973-2005, America’s oil imports from the Saudi kingdom remained steady, in the range of one to 1.5 million barrels per day. (more…)

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Global oil market to become more dependent on OPEC crude in long-term, IEA projects http://www.opalesque.com/Commodities_Briefing/?p=144409 http://www.opalesque.com/Commodities_Briefing/?p=144409#comments Thu, 17 Nov 2016 23:29:00 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144409 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144409>Article Link</a> OPEC’s diverse 14-country membership has responded to the oil price malaise of the past two years in contrasting ways, perhaps permanently altering the group’s dynamics as the world becomes more reliant on its crude in the long-term, according to the International Energy Agency. (more…)

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Trump’s empty threat to stop buying Saudi oil: Kemp http://www.opalesque.com/Commodities_Briefing/?p=144408 http://www.opalesque.com/Commodities_Briefing/?p=144408#comments Thu, 17 Nov 2016 23:28:46 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144408 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144408>Article Link</a> President-elect Donald Trump is very unlikely to restrict imports of crude oil from Saudi Arabia despite threats to do so issued during the election campaign. Trump is first and foremost a showman and impresario rather than a policy wonk. Much of what he said on the campaign trail was intended to mobilise support rather than provide a detailed programme for government. (more…)

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Saudi Aramco Will Reveal Just How Much Oil Saudi Arabia Has http://www.opalesque.com/Commodities_Briefing/?p=144407 http://www.opalesque.com/Commodities_Briefing/?p=144407#comments Thu, 17 Nov 2016 23:28:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144407 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144407>Article Link</a> Saudi Arabia has decided to officially list shares in the state-owned Saudi Aramco, the world’s largest producer of oil. It is expected that the company will immediately become the most valuable listed company on the planet. (more…)

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Iran overtakes Saudi as top oil supplier to India http://www.opalesque.com/Commodities_Briefing/?p=144406 http://www.opalesque.com/Commodities_Briefing/?p=144406#comments Thu, 17 Nov 2016 23:28:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144406 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144406>Article Link</a> Iran overtook political rival Saudi Arabia as India’s top oil supplier in October, shipping data showed, just ahead of a producers’ meeting this month to hammer out the details on output cuts aimed at reining in a global glut. (more…)

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Why gold can spell heaven or hell http://www.opalesque.com/Commodities_Briefing/?p=144404 http://www.opalesque.com/Commodities_Briefing/?p=144404#comments Thu, 17 Nov 2016 23:27:39 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144404 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144404>Article Link</a> As Donald Trump proves, gold attracts those drunk on power. But artists have shown it can point the way to the divine. Gold can be erotic, heavenly, kingly – or hellish. If it has those meanings in art, what does it mean for Donald Trump? (more…)

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Gold has been ‘Trumped’, here are the downside targets http://www.opalesque.com/Commodities_Briefing/?p=144403 http://www.opalesque.com/Commodities_Briefing/?p=144403#comments Thu, 17 Nov 2016 23:27:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144403 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144403>Article Link</a> The US election is not as scary as some gold bugs imagined. After a fall, and rebound rally, the gold price resumed its downtrend. Weeks ago we asked who stole the gold? Now we know the answer. (more…)

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The Metal Conundrum After Trump’s Victory http://www.opalesque.com/Commodities_Briefing/?p=144400 http://www.opalesque.com/Commodities_Briefing/?p=144400#comments Thu, 17 Nov 2016 23:26:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144400 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144400>Article Link</a> The current copper spike may not last, but it shows copper’s long-term potential, especially if part of the announced infrastructure program materializes. Unlike copper, other metals aren’t in a sweet spot due to unlimited supply, and recent and large price increases. (more…)

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Base metals and the Trump effect http://www.opalesque.com/Commodities_Briefing/?p=144399 http://www.opalesque.com/Commodities_Briefing/?p=144399#comments Thu, 17 Nov 2016 23:26:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144399 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144399>Article Link</a> We have been asked a lot in the past day or so about the impact on the base metals of Donald Trump’s surprise victory in the US presidential election. There is interest in the short term Trump-effect in light of the strength in base metal prices. (more…)

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China commodity futures dive as long rally fizzles http://www.opalesque.com/Commodities_Briefing/?p=144390 http://www.opalesque.com/Commodities_Briefing/?p=144390#comments Wed, 16 Nov 2016 23:23:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144390 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144390>Article Link</a> A months-long rally in China’s commodity futures may be coming to an end after the country’s exchanges took steps to crack down on speculative trading. Futures for coal and iron ore that rallied sharply this year have gyrated this week following a dramatic rout on Friday evening after China’s three commodity exchanges increased margin requirements. (more…)

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OPEC Starting Talks Without Iran, Iraq http://www.opalesque.com/Commodities_Briefing/?p=144385 http://www.opalesque.com/Commodities_Briefing/?p=144385#comments Wed, 16 Nov 2016 23:22:43 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144385 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144385>Article Link</a> OPEC and Russia will meet in Doha on Thursday for another round of talks without ministers from Iran and Iraq, the two countries that pose the biggest obstacle to a deal to cut production. Bloomberg’s Simon Kennedy reports on “Bloomberg markets: European Close.”. (more…)

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India’s gold traders on edge as PM Modi fights ‘black money’ http://www.opalesque.com/Commodities_Briefing/?p=144379 http://www.opalesque.com/Commodities_Briefing/?p=144379#comments Wed, 16 Nov 2016 23:21:00 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144379 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144379>Article Link</a> Some Indian gold traders are placing bulk, short-term import orders on fears that Prime Minister Narendra Modi might soon add curbs on overseas purchases of the metal to his withdrawal of high-denomination banknotes in his fight against ‘black money’, traders and jewellers said. (more…)

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November Metal Price Trends: The Base Metal Bulls Take Over http://www.opalesque.com/Commodities_Briefing/?p=144375 http://www.opalesque.com/Commodities_Briefing/?p=144375#comments Wed, 16 Nov 2016 23:19:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144375 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144375>Article Link</a> Our November metal price trends report showed an industrial metals complex buoyed by strong Chinese demand and bullish on the future, thanks to the election of republican presidential candidate Donald Trump who promises to curtail regulations on metals producers and the energy suppliers that provide power for smelting, steelmaking and mining. (more…)

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BP CEO Sees Oil Market ‘Pretty Pessimistic’ About OPEC Cuts http://www.opalesque.com/Commodities_Briefing/?p=144364 http://www.opalesque.com/Commodities_Briefing/?p=144364#comments Tue, 15 Nov 2016 23:14:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144364 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144364>Article Link</a> The oil market is “pretty pessimistic” about OPEC reaching a deal to cut production, BP Plc Chief Executive Officer Bob Dudley said. Oil prices will probably stay around current levels if the Organization of Petroleum Exporting Countries fails to implement the deal it reached in Algiers in September to limit output, Dudley said. (more…)

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Saudi Arabia warns Trump on blocking oil imports http://www.opalesque.com/Commodities_Briefing/?p=144362 http://www.opalesque.com/Commodities_Briefing/?p=144362#comments Tue, 15 Nov 2016 23:14:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144362 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144362>Article Link</a> Kingdom’s energy minister says move would risk damaging the US economy. Saudi Arabia has warned Donald Trump that the incoming US president will risk the health of his country’s economy if he acts on his election promises to block oil imports. (more…)

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Gold will be back, eventually http://www.opalesque.com/Commodities_Briefing/?p=144358 http://www.opalesque.com/Commodities_Briefing/?p=144358#comments Tue, 15 Nov 2016 23:13:17 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144358 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144358>Article Link</a> Anyone waiting for gold to spring back and into an unrestrained bull run after a surprisingly poor reaction to Donald Trump’s election to the White House are likely to be disappointed, according to RBC analyst Tyler Broda. (more…)

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Iron ore swoons as China eyes reining in commodity speculators http://www.opalesque.com/Commodities_Briefing/?p=144350 http://www.opalesque.com/Commodities_Briefing/?p=144350#comments Tue, 15 Nov 2016 23:10:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144350 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144350>Article Link</a> The music may be stopping for iron ore, with the commodity falling sharply overnight and dragging down Australia’s major miners as traders started to worry about Chinese regulators stepping in to reduce sharp price swings. (more…)

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Hanjin bankruptcy sees freight rates bottom out http://www.opalesque.com/Commodities_Briefing/?p=144346 http://www.opalesque.com/Commodities_Briefing/?p=144346#comments Tue, 15 Nov 2016 23:09:47 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144346 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144346>Article Link</a> Spot rates of oceangoing container ships appear to have bottomed out. In addition to growing demand for ships bound for the U.S., the collapse of leading South Korean marine shipper Hanjin Shipping accelerated attempts by other companies to shore up earnings with higher freight rates. (more…)

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Chinese Speculators Shake Up Global Commodity Markets http://www.opalesque.com/Commodities_Briefing/?p=144340 http://www.opalesque.com/Commodities_Briefing/?p=144340#comments Tue, 15 Nov 2016 00:30:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144340 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144340>Article Link</a> Global commodity markets are being rattled again by a familiar force: China’s army of cash-rich investors. A renewed rush into Chinese commodity futures is encouraging wild swings in prices for products including coal, iron ore and rubber, raising concerns about the return of a speculation frenzy. (more…)

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Trump Effect on Commodities: Copper Up, Oil Down (Video) http://www.opalesque.com/Commodities_Briefing/?p=144337 http://www.opalesque.com/Commodities_Briefing/?p=144337#comments Tue, 15 Nov 2016 00:29:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144337 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144337>Article Link</a> Emad Mostaque, strategist at Eclectic Strategy, examines what is driving oil as prices dip to a three-month low and looks at the commodities market in the wake of the U.S. election. He speaks on “Bloomberg Daybreak: Americas.”. (more…)

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Commodities: Flying High or Feet of Clay http://www.opalesque.com/Commodities_Briefing/?p=144336 http://www.opalesque.com/Commodities_Briefing/?p=144336#comments Tue, 15 Nov 2016 00:29:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144336 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144336>Article Link</a> What does the fate of the BRIC countries and the launch of the latest acronym for investors tell us about today’s commodities businesses? Forget the BRICs and the MINTs; it appears that there is a new acronym in town. In October, market research firm, Absolute Strategy Research (ASR), launched CARBNS, a new commodities-dominated grouping, consisting of Canada, Colombia, Australia, Russia, Brazil, Norway, and South Africa. (more…)

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OPEC Expects Crude Oil Prices to Hit $60 by 2020 http://www.opalesque.com/Commodities_Briefing/?p=144334 http://www.opalesque.com/Commodities_Briefing/?p=144334#comments Tue, 15 Nov 2016 00:28:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144334 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144334>Article Link</a> The EIA (U.S. Energy Information Administration) estimates that crude oil supply could outstrip demand by 730,000 bpd (barrels per day) in 1Q17. High US crude oil, gasoline, and distillate inventories, the strengthening dollar, and rising US crude oil rigs could also pressure crude oil prices. (more…)

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Should you buy or sell gold after Trump’s victory? http://www.opalesque.com/Commodities_Briefing/?p=144330 http://www.opalesque.com/Commodities_Briefing/?p=144330#comments Tue, 15 Nov 2016 00:27:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144330 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144330>Article Link</a> When it became increasingly clear that Donald Trump was about to win the US election, the price of gold soared. It reached a high of $1332 per ounce and sustained most of this rise through the day following the election victory. However, since then it has fallen back to $1220 per ounce, as investors have favoured risk-on trades rather than risk-off ones. (more…)

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Will Downward Trend in Gold and Silver Continue? http://www.opalesque.com/Commodities_Briefing/?p=144327 http://www.opalesque.com/Commodities_Briefing/?p=144327#comments Tue, 15 Nov 2016 00:26:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144327 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144327>Article Link</a> The gold market is going through some unusual changes right now. Although there is a surging demand from regions such as India, the overall gold price is crashing hard. In fact, its value dropped by 6% on Thursday and Friday, which is quite surprising. It appears that investors deem precious metals too”risky” to invest in right now. (more…)

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Metals rally overprices impact of Trump’s infrastructure plan: Goldman Sachs http://www.opalesque.com/Commodities_Briefing/?p=144326 http://www.opalesque.com/Commodities_Briefing/?p=144326#comments Tue, 15 Nov 2016 00:26:05 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144326 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144326>Article Link</a> The sharp rally in metals and bulk commodities was “too much too fast,” because the impact of Donald Trump’s infrastructure plan on global demand was tiny compared to that of China, Goldman Sachs analysts cautioned in a report. (more…)

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