The recent joint statement from the US and EU shows that the governments share concerns regarding their domestic metals industries that must be cooperatively addressed, such as global excess capacity, but a removal of the US’ steel and aluminum tariffs on the EU would run counter to such...
China should keep grain prices at reasonable levels and curb rising prices of agricultural materials, the country’s Premier Li Keqiang said during his inspection tour in northeastern Jilin Province on June 15-16. Li said now was a critical time for grain production, and effective measures should be...
Italian police said on Wednesday they had broken up a complex money laundering operation and an illegal metal recycling business that had enabled criminals to transfer huge amounts of illicit cash between Italy and China. The three-year investigation, coordinated by the anti-mafia prosecutor’s...
https://www.hellenicshippingnews.com/italy-says-busts-china-money-laundering-european-metals-scam/
London copper prices fell to their lowest in nearly two months on Thursday, weighed down by strength in the dollar after the U.S. Federal Reserve brought forward its outlook for an interest rate increase. Three-month copper on the London Metal Exchange (LME) fell 1.9% to $9,487.50 a tonne by 0734...
https://www.hellenicshippingnews.com/dollar-strength-sends-copper-to-lowest-in-nearly-two-months/
Front-month Brent/Dubai Exchange of Futures for Swaps widened sharply mid-morning June 17, amid a flurry of trading activity, which continues to demonstrate the strength in the sour crude complex for the August-loading trading cycle. The front-month Brent/Dubai EFS was pegged at $3.69/b at 11 am...
China announced plans on Wednesday to release copper, aluminium and zinc from its national reserves to boost market supply and guide commodity prices to a return to normal ranges. Here is what we know about the sale. WHAT IS CHINA’S STATE RESERVES BUREAU? The official name of the agency is the...
https://www.hellenicshippingnews.com/what-we-know-about-chinas-metals-reserves-release/
China’s state planner said on Thursday it would issue new rules on the management of price indexes for key commodities and services, a move which comes as the government steps up scrutiny of the country’s huge commodity markets. The measures, effective from Aug. 1, will standardise how price...
The US and EU have agreed to work together in resolving a metals trade dispute, stemming from the former’s Section 232 steel and aluminum tariffs against European countries, by the end of the year, according to a joint statement released following the US-EU Summit June 15. “We are determined to...
https://www.hellenicshippingnews.com/us-eu-could-resolve-metal-tariff-dispute-by-year-end/
Executives from the world’s largest trading houses and mining companies are discussing market trends at the FT Commodities Global Summit this week. Following are highlights from Tuesday: TORBJORN TORNQVIST, CEO OF GUNVOR GROUP “The super cycle is defined by the energy transition, the main driver...
https://www.hellenicshippingnews.com/top-trading-houses-speak-at-commodities-conference/
Malaysian palm oil futures fell for a second straight day on Thursday, as it tracked cheaper rival oils and as improved demand prospects from India faded, although a weaker ringgit limited some losses. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange...