United States Copper Index Fund Lp ETF News

Copper is now heading towards previous peak of $10740/10850. A move beyond this area would open up additional gains towards $11700, then $12160, strat

Russia''s metals industry is expected to lean on China as an export market following sanctions for its invasion of Ukraine. Russian steelmaker Severstal said March 2 it was looking at alternative markets to export steel after facing challenges with European customers. China has been a major buyer of Russian aluminum, nickel, copper and metallurgical coal, but steel trade between the…

LONDON, March 7 — Aluminium and copper prices struck record highs today on supply fears linked to Russia’s invasion of Ukraine. Aluminium reached US$4,026.50 (RM16,827), the first time the lightweight metal had breached US$4,000 per tonne….

Russia''s Attack On Ukraine Represents A Demand For A New World Order Authored by Gail Tverberg via Our Finite World , Russia’s attack on Ukraine represents a demand for a new world order that, over the long term, will support higher prices for fossil fuels, especially oil. Such an economy would probably be centered on Russia and China. The rest of the world economy, to the extent that it continues to exist, will largely have to get along without fossil fuels, other than the fossil fuels that countries continue to produce for themselves. Population and living standards will fall in most of the world. If a Russia-and-China-centric economy can be developed, the US dollar will no longer be the world’s reserve currency. Trade will be in the currency of the new Russia-China block. Outside of this block, local currencies will play a dominant role. Most of today’s debt will ultimately be defaulted upon; to the extent that this debt is replaced, it will be replaced with debt in local currencies.

Many Asian economies are likely to be negatively impacted by the ongoing Russia-Ukraine conflict, including in the form of rising metal prices. India, however, could be the Asian country that is most impacted. Supply shortages, rising metal prices Analysts are also almost unanimous that the metals and minerals that will either face supply shortage or see a price hike in Asia are nickel, copper, and iron. Russia and Ukraine are global leaders in these metals. In addition, they also lead the pack in the manufacture and export of neon, palladium and…

Comex copper futures (HG1:COM) settles at a record high $4.938/lb, +3.3%, capping a 10%-plus gain in the red metal since Russia launched its invasion of Ukraine a little more than a…

Metals Traders Hit With "Hundreds Of Millions" In Erroneous Margin Calls Just in case the prevailing market chaos, which has seen intermarket funding stress spike to the highest level since the March 2020 crash in the aftermath of a overnight freakout that Europe''s largest nuclear power plant may be on the verge, metals traders'' already elevated stress levels went limit up when they received thousands of erroneous margin calls after the LME''s software misfired, sparking a panicked liquidity scramble just as brokers were already bracing for genuine cash requests. According to Bloomberg, the London Metal Exchange’s clearinghouse produced “a high number” of margin calls in error, according to a note to clients on Wednesday. The incorrect margin requirements for some brokers totaled " hundreds of millions of dollars on Wednesday and Thursday," according to two people familiar with the matter, who asked not to be identified. The good news is that after freaking out countless traders, the LME said on Friday that the issue has now been resolved, adding in a statement that "none of these margin calls were released to members due to our system’s built-in margin review procedures,” and that “members were immediately notified of the issue and manual back-up processes were put in place.” On Wednesday, the LME switched from using its automatic system, called LMEmercury, to calculating its members’ margin requirements manually, according to notices sent to members by the clearinghouse.

High-grade copper surged to a record on Friday, as commodity prices soared amid intensifying concerns about the market implications of an invasion of Ukraine by Russia and a series of sanctions leveled against the Kremlin in response to its unprovoked attack. May copper HGH22HG00 was trading 2.4% higher to around $4.901 a pound, marking a record for the industrial metal. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

High-grade copper surges to a record Friday, as commodity prices soar amid intensifying concerns about the market implications of Ukraine-Russia conflict.

Supply disruptions have hit global prices of wheat, soybean, fertiliser and metals like copper, steel and aluminum - raising worries about prices and economic recovery.

Some China-based producers and traders of nonferrous metals are seeking export opportunities after seaborne prices rose sharply due to the Russia-Ukraine conflict, while losses widened on imports, industry sources said March 4. Domestic Chinese prices of nonferrous metals, such as aluminum, alumina, copper, and nickel failed to keep up with rising seaborne prices following Russia''s invasion of Ukraine, making exports…

Oil prices surged after Russia invaded Ukraine on Feb. 24, with Brent rising above $116 a barrel on Thursday, while supply disruptions have hit global prices of wheat, soybean, fertiliser and metals like copper, steel and aluminium -- raising worries about prices and economic recovery.

''Copper is an important metal for the economy of the country'', said Sumathi Angusamy

Oil Prices Will Be Above $100 For A "Prolonged Period" As Bloomberg''s Jake Lloyd-Smith wrote last night, oil markets are so bullish at present that forecasts for $100/bbl crude have become par for the course, which suggests that the threshold will be tested in 1H, "even if tensions over Ukraine cool," which now appears improbably and is why $100 oil may come as soon as tomorrow. As the BBG reporter notes, "the three-digit-barrel forecast surfaced at least a year ago and used to turn heads given it was bold, and prices were way, way lower back then. Its founded principally on the case that energy consumption returning to normal as the pandemic ebbs will underpin gains". Goldman Sachs added its voice to the chorus not so long ago, when its chief commodity strategist and one of the closest-followed analysts on Wall Street, said hes never seen commodity markets pricing in the shortages they are right now. Ive been doing this 30 years and Ive never seen markets like this, Currie told Bloomberg TV in an interview last week . This is a molecule crisis.

In the face of poor performance and huge overheads, fixing Nigerias unprofitable refineries to functional capacity has remained the promise of every administration since 1999. Abuja has however piled up debt rather than embrace global examples on how to run a successful refinery, failing to curb an appetite for waste that has eaten the countrys national budget for decades. Nigerias long history of wasteful spending on turnaround maintenance has continued with the present government, as the Nigerian National Petroleum Corporation (NNPC) spent close to N2 trillion on maintaining its struggling refineries from 2015 till 2021, a development that had not brought Nigeria any closer to ending imports of refined petroleum products. Inefficiency is the gift of the present administration, except that sometimes, this gift is in oversupply. Or how else can anyone explain all the expenses on the refineries without any due diligence or risk evaluation, a source familiar with the matter told BusinessDay. It would take more than another repair to cover the developing scandal that Nigerias refineries have become, he said.