Oil rose due to tensions in the Middle East
Oil prices rose in the first session of the week as investors optimistic about the rate of vaccination in the US and Houthi forces in Yemen said they had attacked Saudi oil facilities.
At the end of this session, Brent oil price increased by 33 US cent to 63.28 USD / barrel, West Texas America (WTI) increased by 38 US cent to 59.70 USD / barrel.
The United States has fully vaccinated 22% of the population, while the UK has fully vaccinated 11% of the population, and France has about 6%, according to a Reuters vaccination monitoring tool.
The session was also supported by the Iran-linked Houthi movement that said it had fired 17 drones and two ballistic missiles at Saudi targets, including factories. Saudi Aramco oil refineries in Jubail and Jeddah, located to the west of Saudi Arabia.
Gold fell due to the steady recovery of the US economy
Gold prices fell in the past session due to the increase in US Treasury yields, making gold bullion less attractive, amid investors waiting for data on inflation and US retail sales – an important factor. to evaluate the “health” of the US economy.
At the end of the session, spot gold price dropped by 0.6% to 1,732.14 USD / ounce; gold term in June 2021 decreased by 0.7% to 1,732.70 USD / ounce.
“ Rising yields are still the underlying factor that negatively impacts gold, ” said senior analyst Jim Wyckoff of Kitco Metals.
Investors are waiting for data on US retail, to be announced on April 15. Federal Reserve Chairman Jerome Powell, in a speech, said: “The US economy is at a ‘turning point’ in hopes of economic growth and recruitment rates in the coming months. up”.
Copper fell on demand concerns in China
Copper falls on fears that China will seek to prevent commodity prices from rising in response to the risk of inflation, while there is still concern about falling copper demand and rising inventories.
Price of copper delivered after 3 months on the London floor fell 0.9% to 7,845 USD / ton. However, in the past 5 months, copper price has increased by 30%, February 2021 has reached a record high of 9.5 years, is 9,617 USD / ounce.
Ole Hansen, commodity chief strategist at Saxo Bank said: “The real focus (of the copper market) right now is on very high PPIs (producer price index) numbers, even in China,” said Ole Hansen, commodity chief strategist at Saxo Bank. China and the United States, and China will likely take measures to curb inflation.
Prices of goods shipped in China (PPI) in March increased at the fastest rate in 3 years. Chinese Prime Minister Li Keqiang on April 11 emphasized the need to regulate the raw material market to reduce the pressure on costs for businesses, in the context of the recent rise in global commodity prices.
Steel decreased, iron increased
Steel prices on the Chinese market fell about 3% in the past session due to concerns that the Chinese Government will strengthen control of raw material prices, although demand for industrial metals remains high.
Steel price in October term on the Shanghai bourse at a time in the session 12/4 decreased 2.9% to 4,937 CNY (754.44 USD) / ton, ending session still down 2% compared to the previous session. , to 4,985 CNY / ton.
HR coil price also dropped 2.1% to 5,265 CNY / ton at the end of the session, after falling sharply by 3.1% at some point.
However, consumer demand for steel products remains high. China’s Baoshan Iron & Steel company announced to raise the price of cold rolled and hot rolled steel for May orders by 400 and 150 yuan / ton, respectively.
Iron ore prices recovered in the last session, according to which ore futures in September rose 2.6% to 1,014 CNY / ton; iron iron content of 62% imported delivered at Chinese seaports was 172 USD / ton in the previous session (April 9), an increase of 1.5 USD compared to the 8/4 session.
Soybeans, corn and wheat all decreased
US soybean prices fell 1.5% in the past session due to soybean oil prices falling to nearly 6-week lows due to falling palm oil prices and ample supply forecast. Corn price this session also decreased by 1.2% because commodity funds sold a profit after the price twang reached the highest level of nearly 8 years in the previous session (April 9). Meanwhile, wheat prices fell because production in the Black Sea area is expected to be bumper, affecting exports of US agricultural products.
Dry weather is forecast to facilitate cultivation in the Midwestern United States this week, putting further pressure on grain prices.
Ending the session, soybean futures in May on the Chicago floor fell 21 cents to $ 13.82 / bushel; soybean oil futures in July fell 1.35 US cent to 49.58 US cent / lb, the lowest since March 2; maize for May delivery decreased 8-1 / 4 US cents to 5.96 USD / bushel, while soft red wheat decreased 10-3 / 4 US cents to 6.28 USD / bushel.
Reduced sugar
The price of raw sugar last session decreased 0.11 US cent, or 0.7%, to 15.35 US cents / lb, after reaching a 3-week high in the previous session. The price of raw sugar in May – due on April 15, decreased by 2 USD, equivalent to 0.5%, to 420.5 USD / ton.
Coffee increased
Arabica coffee futures price in May last session increased 0.85 US cent, equivalent to 0.7%, to 1,281 USD / lb, after reaching a 2-week high at 1.29 USD / lb.
The Mexican Coffee Association is promoting the creation of a new government agency with the power to regulate and price coffee.
Robusta last session firmly at 1,343 USD / ton, term delivered in May.
Vietnam’s coffee exports in March increased by 38.1% compared to February, to 169,624 tons.
Reduced rubber
High prices traded on the Japanese market decreased in the past session as the Government continued to take measures to prevent the 4th wave of Covid-19 infection – which could affect economic activities. and commodity demand.
On the Osaka floor, September term rubber fell 8.3 JPY, equivalent to 3.5%, to 226.5 JPY / kg, the lowest since the end of January.
Tokyo on April 12 started a new one-month emergency blockade to prevent the wave of Covid-19 infections from spreading very quickly, when only children more than 100 days will. Summer Olympics begins.
On the Shanghai floor, September rubber also fell 3% to 13,460 CNY / ton.
Prices of some key items on the morning of April 13
