Oil increased by nearly 5%
Crude oil prices increased sharply in the last session due to reports showing that world crude oil demand is recovering after a period of decline due to the Covid-19 epidemic.
At the end of the session, Brent oil rose $ 2.91 (4.6%) to $ 66.58 / barrel, West Texas American oil (WTI) rose $ 2.97 (4.9%) to $ 63.15 /bin.
The US Energy Information Administration (EIA) said that the country’s crude oil inventories fell 5.9 million barrels last week, much higher than analysts’ prediction that it would drop 2.9 million barrels. US refineries are operating with a capacity of up to 85%, the highest level since March 2020.
Previously, the Organization of Petroleum Exporting Countries (OPEC) on April 13 raised its forecast of global oil demand by 70,000 barrels / day compared to the forecast made in March, which predicts oil demand. Global mines will increase by 5.95 million barrels / day in 2021.
At the same time, the International Energy Agency (IEA) released a report predicting global oil demand and supply will become rebalanced in the second half of this year, saying that manufacturers may have to pump more. 2 million barrels / day to meet demand.
Gold fell due to higher yields on US treasury bonds
Gold price decreased in the last trading session although USD also decreased. The reason is that the yield of US treasury bonds has decreased, reducing the attractiveness of gold.
At the end of the session, spot gold price dropped 0.5% to 1,736.02 USD / ounce, gold futures in June 2021 decreased by 0.6% to 1,736.30 USD / ounce.
However, the reduction in gold price is technical due to the price of 1,750 USD / ounce is both a technical resistance level and a psychological level in the short term, according to David Meger, Director of Metal Division. of the High Ridge Futures.
Standard Chartered analyst Suki Cooper said: “This second quarter is likely to bring the biggest macro problems for gold as the dollar is expected to appreciate further.” However, Mr. Cooper said: “We predict the USD will return to the downward trend, the real yields are still negative and the expectation of increased inflation will stimulate investors to pay more attention to gold.”
The base metal increased simultaneously
Prices of metals such as copper, aluminum, zinc … all increased in the past session, according to which aluminum reached the highest level in many years, due to the world economic prospect, especially the US and China economies strongly recovered.
On the London floor, aluminum futures for 3-month delivery rose 1.5% to $ 2,328 / ton, the highest since June 2018 and up more than 15% since the beginning of the year due to concerns about Chinese supplies – The world’s largest aluminum producer – will be constrained by the policy of restricting the development of the industrial sector – which uses a lot of energy – to limit carbon emissions.
The recent copper price increased by 2.1% to 9,087 USD / ton, zinc increased by 1.5% to 2,827 USD / ton, lead increased by 0.7% to 2,000 USD / ton, tin increased by 1.8% to 26,100 USD / ton. tons and nickel increased 1.4% to 16,390 USD / ton.
Coke highest 6 weeks
Coke prices in China hit a six-week high as some of the major coking mills sought to raise spot prices, amid tests of the safety of coal mines in the country. active support for coking coal prices.
Coke mills in Shandong, Hebei and Shanxi provinces have recently proposed to raise coke prices by 100-110 yuan ($ 15.29-16.82) per ton, according to local media.
Coke futures contracts in May on the Dalian trading floor last session increased by 3.2% to 2,492 CNY (381.21 USD) / ton, before ending at a 2.4% increase compared to the session. before, to 2,475 CNY.
Coking coal futures prices on the Dalian floor also increased due to safety checks at coal mines after a series of recent coal mine accidents. Accordingly, the price of coking coal increased by 1.2% to 1,603 CNY / ton.
Steel rose
Rebar and HR coil prices on the Shanghai Futures Exchange for October delivery rose for the second consecutive session due to strong demand.
Accordingly, rebar price increased 1.1% to 5,116 CNY / ton, hot rolled coil increased by 1.2% to 5,418 CNY / ton.
“We expect steel demand to peak in April-May,” said Tang Chuanlin, senior analyst at CITIC Securities. the second half of the year, and the demand for the whole year will increase by about 6% “.
Corn, soybeans and wheat rose
Prices of US corn, wheat and soybeans all increased in the past session due to concerns that the cold air wave in the Midwest and the US Delta could hinder the growth of crops.
Accordingly, corn prices on the Chicago floor increased by 14 US cents (2.4%) to $ 5.94 / bushel, the highest since June 2013; soybean in May rose 20-1 / 2 US cent to 14.10 USD / bushel, wheat delivered in the same period increased 18-1 / 4 US cent to 6.48 USD / bushel.
Raw sugar highest 3 weeks
Raw sugar prices rose sharply to 3-week highs amid optimistic investors as financial markets rallied on the back of data showing that US inflation has not increased as much as was worrisome after the economy US economy reopened.
Ending the session, the price of raw sugar in May increased 0.43 US cent, equivalent to 2.8%, to 15.86 US cents / lb, the highest since March 18.
White sugar futures in May this session also increased by 17.40 USD, equivalent to 4.1%, to 441.60 USD / ton, although the trading volume was small because the May futures contract expired on 15/15. 4.
Coffee continued to increase
The price of arabica coffee delivered in May increased 2.05 cents, equivalent to 1.6%, to $ 1,321 USD / lb, the highest since mid-March 2021 due to the possibility that Brazil’s supply will decrease cyclically. Robusta session also increased 21 USD (1.6%) to 1,365 USD / ton.
Strong German pork
Pork and pork prices on the German market are stable this week as exports to Europe continue to be maintained, although China and some other countries have banned imports of German pork since last year after Germany discovered a case. African swine fever virus.
The German Farmers Association said the pork price this week was unchanged at 1.50 euros / kg, similar to March and up from 1.21 euros in February.
Piglet prices this week are also stable at 53 euros / head, compared with 32.50 euros at the beginning of February.
Rubber increased the first session after 5 declining sessions
Rubber prices in Japan increased in the past session, reversing the 5-day downtrend, after the Bank of Japan gave cautious optimism about the country’s economic recovery after Translate.
Contracts of rubber delivered in September on the Osaka Exchange floor increased by 7.5 JPY, equivalent to 3.3%, to 232.1 JPY / kg. On the Shanghai floor, the price also increased by 0.4% to 13,545 CNY / ton.
Japan’s Central Bank Governor Haruhiko Kuroda said Japan’s economy will continue to improve amid strong global demand, but warned of new restrictions on economic activity to cope with the The increase in COVID-19 contamination is one of the risks to the economic prospects of this country.
Prices of some key items on the morning of April 15
