Friday, January 27, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Commodities

Commodities Whipsawed on Speculation of China’s Next Energy Step

MtR by MtR
October 28, 2021
in Commodities
0


(Bloomberg) — Commodities from coal to aluminum posted huge swings in London on Thursday, as traders said prices were reacting to speculation that China’s leadership is growing concerned over recent sharp declines in prices.

Aluminum, one of the most energy-intensive metals, bounced back 2.3% on the London Metal Exchange to reverse earlier losses that followed yesterday’s two-month low. Copper, nickel, lead and zinc also erased early losses.

Bloomberg couldn’t verify the speculation, widely circulated on Chinese social media, that a Chinese leader is growing concerned that the correction in raw material prices will lead to unnecessary turbulence in the economy. The State Council didn’t respond to calls for comment.

In frenzied moves after China’s midday trading break, coal futures erased an almost 10% decline before tumbling again to the lower daily trading limit. The most-active thermal coal contract on the Zhengzhou Commodity Exchange closed 8.1% lower on Thursday. Futures had started the morning falling by their daily limit on news of a cap on prices, before almost erasing all their losses in the afternoon and then swiftly plunging again.

Base metals were also boosted by a plunging dollar after the U.S. posted its weakest growth of the pandemic recovery period on supply woes and a surge in Covid-19 cases. GDP expanded at a 2% annualized rate in the third quarter following a 6.7% pace in the second quarter, well below market expectations. The Bloomberg Dollar Spot Index fell to its lowest in more than a month on the assumption that there is now less pressure on the Federal Reserve to act on rising inflation.

Aluminum on the LME settled at $2,746.50 a metric ton as of 5:54 p.m. local time, while copper gained 1.2% and nickel settled 0.8% higher.

©2021 Bloomberg L.P.





Source link

Related articles

Record outflows from commodity ETPs obscure long-term demand

August 10, 2022

Pacific Trader: B2Gold bucks the commodity slump

August 9, 2022

Related Posts

Record outflows from commodity ETPs obscure long-term demand

by MtR
August 10, 2022
0

Latest news on ETFsVisit our ETF Hub to find out more and to explore our in-depth data and comparison toolsInvestors...

Pacific Trader: B2Gold bucks the commodity slump

by MtR
August 9, 2022
0

Credit: B2Gold Corp. Hauling ore at B2Gold's Otjikoto Mine in Namibia And unlike its peers, the Vancouver company pays a...

Ford raises prices of electric F-150 pickup amid high commodity costs

by MtR
August 9, 2022
0

The all-electric Ford F-150 Lightning pickup truck is unveiled at the company's world headquarters in Dearborn, Michigan, U.S., May 19,...

Commodity Market: Gold price surge marginally

by MtR
August 9, 2022
0

Mumbai: Price of gold edged higher marginally in the commodity market. Sovereign gold is trading at Rs 38,240, higher by...

Japan Hands over Emergency Medicines and Commodities for Pregnant Women and Adolescent Girls though the Project “PROMISES” under the partnership with UNFPA – Sri Lanka

by MtR
August 9, 2022
0

On 8 August, Ambassador of Japan to Sri Lanka, H. E. Mr. MIZUKOSHI Hideaki handed over essential pharmaceuticals for women...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter