Category: Commodity Research External | Time: 12:09
Energy: Oil prices lost in the morning one percent to $ 80.5 per barrel. In addition to a stronger U.S. dollar as published in charge of the night import data from China. The second largest oil consumer in the world has imported 19 million tons of crude oil in July. Thus, imports were 17.5% lower than last month and a decrease of 3.2% for the first time since March 2009 back on the previous year. Prepare for a permanent weakening of demand still seems premature. The sharp decline in imports, compared with June, first explained in the record imports the previous month. In addition, a pipeline explosion left the port of Dalian mid-July that has affected imports temporarily. The damage has now been resolved, so that expected in August, again with a normalization of imports. The evening show today by the U.S. Department of Energy EIA report should be published months that China remains the mainstay of the oil demand. So far, the EIA expects a rise in global oil demand by 1.5 million barrels per day this year and next. The increase is thereby almost completely borne by the developing countries, especially China, Saudi Arabia and Brazil. At this perception might initially change anything.
In the evening released the API, the U.S. stock data for the past week. It is expected a drop in crude oil stocks by 1.6 million barrels, as imports are likely to have returned to normal after the strong rise in July. The inventory reduction should however be hampered by a decline in refinery utilization. However, should the product be stocks continued to rise, which indicates a further narrowing of the crack spreads.
Precious metals: Gold prices continued to show directionless and is this morning still at the threshold of $ 1,200 per troy ounce. With the stress today held meeting of the U.S. Federal Reserve is expected. The interest only, this would be maintained at the exceptionally low level. However, the Fed may send out signals that point towards further monetary policy easing. Both would be negative for the U.S. currency, which in turn should support gold. The deficit in gold is a good opportunity for
commodity trading with china.
After a recent incident with 16 casualties in a mine in China, the gold producer in Shandong Province, the largest goldproduzenden region of the country, asked to cease production temporarily. During the interruption of production to extensive security checks take place in the mines. This should be reflected with some delay in increasing imports. Although China is the world's largest gold producer, the domestic production can not keep up with local demand. A higher gold demand from China should lead to rising prices. In addition, the seasonally weak demand period approaches its end, so we assume the medium to higher gold prices.
Industrial Metals: The metals were able to resist yesterday remain a somewhat stronger U.S. dollar and largely on their current high levels. According to the Chinese Customs, China has imported in July for the first time in four months later more copper and copper products. Imports increased in comparison to the previous month by 4.5% to 343 thousand tons, but so are relatively much lower than the previous year. One reason for the increased imports were the renewed arbitrage between the stock exchanges in London and Shanghai. Chinese
commodity traders have increased copper on the LME bought and sold then at the SHFE again. Imports of aluminum on the other hand have decreased the third month in a row. With 67.5 thousand tonnes in July, 9.5% less aluminum and products than last month introduced into the country. Imports are now 70% below the previous year. This is not surprising, as China has produced up to the last record amounts of aluminum and not rely on imports of the light is. After the Middle Kingdom has become in the last month to a net exporter of primary aluminum, it has now even reached this status even in unprocessed aluminum. The excess supply in the global aluminum market, therefore, likely to widen further, making the high price level can be justified on less and less.
Commodities: The Future has reached yesterday for pork bellies at the CME with $ 1.32 per pound one-time high. We want to illustrate our thesis that the price rise of grain prices will lead mainly to the increase in prices of meat products because the feed costs amount to 60% of the total cost of meat. Meat prices have already risen this year, and before have more expensive agricultural commodities, like wheat or soybeans. A further increase in meat prices is perhaps even before, when, as in the years 2006-2008, the agricultural commodities infect each other "and lead to strong price increases in wheat to higher prices for soybeans and maize, which are required mainly for feed production. For while the price of wheat over 60% since late June and feed barley prices have risen even more than 75% and maize prices by almost 20% and soybeans have risen by only 10%.
At a big concern for grain should be the situation when stimulants do not lose sight of. The recent 10% decline in raw sugar in August could soon prove to be premature. For the unfavorable weather conditions in the EU and Eastern Europe are expected due to the local sugar beet harvest are influenced negatively.
Commodities: Chinese import data with no clear direction
Category: Commodity Research External | Time: 12:09
Energy: Oil prices lost in the morning one percent to $ 80.5 per barrel. In addition to a stronger U.S. dollar as published in charge of the night import data from China. The second largest oil consumer in the world has imported 19 million tons of crude oil in July. Thus, imports were 17.5% lower than last month and a decrease of 3.2% for the first time since March 2009 back on the previous year. Prepare for a permanent weakening of demand still seems premature. The sharp decline in imports, compared with June, first explained in the record imports the previous month. In addition, a pipeline explosion left the port of Dalian mid-July that has affected imports temporarily. The damage has now been resolved, so that expected in August, again with a normalization of imports. The evening show today by the U.S. Department of Energy EIA report should be published months that China remains the mainstay of the oil demand. So far, the EIA expects a rise in global oil demand by 1.5 million barrels per day this year and next. The increase is thereby almost completely borne by the developing countries, especially China, Saudi Arabia and Brazil. At this perception might initially change anything.
In the evening released the API, the U.S. stock data for the past week. It is expected a drop in crude oil stocks by 1.6 million barrels, as imports are likely to have returned to normal after the strong rise in July. The inventory reduction should however be hampered by a decline in refinery utilization. However, should the product be stocks continued to rise, which indicates a further narrowing of the crack spreads.
Precious metals: Gold prices continued to show directionless and is this morning still at the threshold of $ 1,200 per troy ounce. With the stress today held meeting of the U.S. Federal Reserve is expected. The interest only, this would be maintained at the exceptionally low level. However, the Fed may send out signals that point towards further monetary policy easing. Both would be negative for the U.S. currency, which in turn should support gold. The deficit in gold is a good opportunity for commodity trading with china.
After a recent incident with 16 casualties in a mine in China, the gold producer in Shandong Province, the largest goldproduzenden region of the country, asked to cease production temporarily. During the interruption of production to extensive security checks take place in the mines. This should be reflected with some delay in increasing imports. Although China is the world's largest gold producer, the domestic production can not keep up with local demand. A higher gold demand from China should lead to rising prices. In addition, the seasonally weak demand period approaches its end, so we assume the medium to higher gold prices.
Industrial Metals: The metals were able to resist yesterday remain a somewhat stronger U.S. dollar and largely on their current high levels. According to the Chinese Customs, China has imported in July for the first time in four months later more copper and copper products. Imports increased in comparison to the previous month by 4.5% to 343 thousand tons, but so are relatively much lower than the previous year. One reason for the increased imports were the renewed arbitrage between the stock exchanges in London and Shanghai. Chinese commodity traders have increased copper on the LME bought and sold then at the SHFE again. Imports of aluminum on the other hand have decreased the third month in a row. With 67.5 thousand tonnes in July, 9.5% less aluminum and products than last month introduced into the country. Imports are now 70% below the previous year. This is not surprising, as China has produced up to the last record amounts of aluminum and not rely on imports of the light is. After the Middle Kingdom has become in the last month to a net exporter of primary aluminum, it has now even reached this status even in unprocessed aluminum. The excess supply in the global aluminum market, therefore, likely to widen further, making the high price level can be justified on less and less.
Commodities: The Future has reached yesterday for pork bellies at the CME with $ 1.32 per pound one-time high. We want to illustrate our thesis that the price rise of grain prices will lead mainly to the increase in prices of meat products because the feed costs amount to 60% of the total cost of meat. Meat prices have already risen this year, and before have more expensive agricultural commodities, like wheat or soybeans. A further increase in meat prices is perhaps even before, when, as in the years 2006-2008, the agricultural commodities infect each other "and lead to strong price increases in wheat to higher prices for soybeans and maize, which are required mainly for feed production. For while the price of wheat over 60% since late June and feed barley prices have risen even more than 75% and maize prices by almost 20% and soybeans have risen by only 10%.
At a big concern for grain should be the situation when stimulants do not lose sight of. The recent 10% decline in raw sugar in August could soon prove to be premature. For the unfavorable weather conditions in the EU and Eastern Europe are expected due to the local sugar beet harvest are influenced negatively.
Commodities: Chinese import data with no clear direction
Category: Commodity Research External | Time: 12:09
Energy: Oil prices lost in the morning one percent to $ 80.5 per barrel. In addition to a stronger U.S. dollar as published in charge of the night import data from China. The second largest oil consumer in the world has imported 19 million tons of crude oil in July. Thus, imports were 17.5% lower than last month and a decrease of 3.2% for the first time since March 2009 back on the previous year. Prepare for a permanent weakening of demand still seems premature. The sharp decline in imports, compared with June, first explained in the record imports the previous month. In addition, a pipeline explosion left the port of Dalian mid-July that has affected imports temporarily. The damage has now been resolved, so that expected in August, again with a normalization of imports. The evening show today by the U.S. Department of Energy EIA report should be published months that China remains the mainstay of the oil demand. So far, the EIA expects a rise in global oil demand by 1.5 million barrels per day this year and next. The increase is thereby almost completely borne by the developing countries, especially China, Saudi Arabia and Brazil. At this perception might initially change anything.
In the evening released the API, the U.S. stock data for the past week. It is expected a drop in crude oil stocks by 1.6 million barrels, as imports are likely to have returned to normal after the strong rise in July. The inventory reduction should however be hampered by a decline in refinery utilization. However, should the product be stocks continued to rise, which indicates a further narrowing of the crack spreads.
Precious metals: Gold prices continued to show directionless and is this morning still at the threshold of $ 1,200 per troy ounce. With the stress today held meeting of the U.S. Federal Reserve is expected. The interest only, this would be maintained at the exceptionally low level. However, the Fed may send out signals that point towards further monetary policy easing. Both would be negative for the U.S. currency, which in turn should support gold. The deficit in gold is a good opportunity for commodity trading with china.
After a recent incident with 16 casualties in a mine in China, the gold producer in Shandong Province, the largest goldproduzenden region of the country, asked to cease production temporarily. During the interruption of production to extensive security checks take place in the mines. This should be reflected with some delay in increasing imports. Although China is the world's largest gold producer, the domestic production can not keep up with local demand. A higher gold demand from China should lead to rising prices. In addition, the seasonally weak demand period approaches its end, so we assume the medium to higher gold prices.
Industrial Metals: The metals were able to resist yesterday remain a somewhat stronger U.S. dollar and largely on their current high levels. According to the Chinese Customs, China has imported in July for the first time in four months later more copper and copper products. Imports increased in comparison to the previous month by 4.5% to 343 thousand tons, but so are relatively much lower than the previous year. One reason for the increased imports were the renewed arbitrage between the stock exchanges in London and Shanghai. Chinese commodity traders have increased copper on the LME bought and sold then at the SHFE again. Imports of aluminum on the other hand have decreased the third month in a row. With 67.5 thousand tonnes in July, 9.5% less aluminum and products than last month introduced into the country. Imports are now 70% below the previous year. This is not surprising, as China has produced up to the last record amounts of aluminum and not rely on imports of the light is. After the Middle Kingdom has become in the last month to a net exporter of primary aluminum, it has now even reached this status even in unprocessed aluminum. The excess supply in the global aluminum market, therefore, likely to widen further, making the high price level can be justified on less and less.
Commodities: The Future has reached yesterday for pork bellies at the CME with $ 1.32 per pound one-time high. We want to illustrate our thesis that the price rise of grain prices will lead mainly to the increase in prices of meat products because the feed costs amount to 60% of the total cost of meat. Meat prices have already risen this year, and before have more expensive agricultural commodities, like wheat or soybeans. A further increase in meat prices is perhaps even before, when, as in the years 2006-2008, the agricultural commodities infect each other "and lead to strong price increases in wheat to higher prices for soybeans and maize, which are required mainly for feed production. For while the price of wheat over 60% since late June and feed barley prices have risen even more than 75% and maize prices by almost 20% and soybeans have risen by only 10%.
At a big concern for grain should be the situation when stimulants do not lose sight of. The recent 10% decline in raw sugar in August could soon prove to be premature. For the unfavorable weather conditions in the EU and Eastern Europe are expected due to the local sugar beet harvest are influenced negatively.
by Ephraim Clark, Jean-Baptiste Lesourd is a fantastic book for the beginner when it comes to commodities. I was surprised how much detail the authors went through. It's probably perfect for someone who does not work specifically in commodities but would like to learn more about what is available in the way of infrastructure, procedures, information, and data. 