Oil prices fell 3%
Oil prices fell about 3% to below $80 a barrel, as rising Covid-19 cases in Europe threatened the economic recovery, along with investors also weighing the possibility of releasing the forecast. crude oil storage by major economies to cool down prices.
Closing the session on November 19, Brent crude oil term for January 2022 fell by $2.35, or 2.9%, to $78.89 per barrel, West Texas Intermediate WTI crude for December 2021 fell by 2 .91 USD, or 3.6%, to 76.01 USD/barrel and WTI crude oil futures for January 2022 fell 2.65 USD, or 3.4%, to 75.78 USD/barrel. Both oils posted a fourth straight week of declines – the first – since March 2020.
However, so far this year, Brent oil prices are up nearly 60%, as economies recover from the pandemic and the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+ only gradually increase production.
Natural gas prices continue to increase
Natural gas prices in the US rose, driven by colder weather and liquefied natural gas (LNG) exports hitting record highs.
The price of natural gas for December 2021 on the New York Stock Exchange increased by 16.3 US cents, or 3.3%, to $5,065/mmBtu. For the whole week, natural gas prices rose 6% after falling 13% in the previous week.
Gold price is at its lowest in a week, palladium has its first weekly decline in 3 weeks
Gold prices fell to a 1-week low, as the dollar rose after Federal Reserve Governor Christopher Waller called for an early cut in economic support, in order to establish tighter monetary policy.
Spot gold on the LBMA fell 0.6 percent to $1,848.05 an ounce and December 2021 gold on the New York Stock Exchange fell 0.5 percent to $1,851.6 an ounce.
The dollar index rose 0.5% against a basket of major currencies, making gold more expensive to buy in other currencies.
Palladium fell 3.4% to $2,060.24 an ounce and posted its first weekly loss in three weeks.
Aluminum and copper prices rise
Aluminum prices rose after an explosion at a smelter in China, raising concerns about tight supply, while concerns about supply shortages and low inventories also boosted copper prices. get a raise.
Aluminum prices on the London floor increased 2.5% to 2,682 USD / ton, in the early session reached a high of 2,697.5 USD / ton.
Copper prices on the London floor increased 2.4% to 9,670 USD / ton.
An aluminum plant in China’s Yunnan province with an annual capacity of 300,000 tonnes, stopped production after an explosion, the Shanghai Metals Market said.
Iron ore and steel prices both increased
Iron ore prices in China rebounded, after some positive news from the country’s struggling real estate sector. However, traders remain cautious about the outlook for raw material demand in the world’s largest steel producer.
Iron ore futures for January 2022 on the Dalian bourse increased by 2.5% to 536 CNY ($84)/ton. In the early trading session, iron ore price touched 509.5 CNY/ton – the lowest since November 6, 2020 and had the 6th consecutive week of decline.
At the same time, the price of iron ore for December 2021 on the Singapore Exchange increased by 5.1% to 90.6 USD/ton.
Spot price of 62% Fe iron ore to China touched $90/ton – the lowest in 18 months, consulting firm SteelHome said.
On the Shanghai Stock Exchange, the price of rebar increased 2.2%, hot rolled coil increased 1.3% and stainless steel increased 0.4%.
Rubber prices in Japan increase
Rubber prices in Japan increased, after the government of this country launched a spending package of nearly half a trillion dollars, to ease the damage from the pandemic and help economic growth along with demand for industrial goods.
The price of rubber for April 2022 term on the Osaka floor increased by 4.4 JPY, or 2%, to 229.8 JPY/kg. For the whole week, rubber prices increased by 1.2% – the second consecutive week of increase.
At the same time, the price of rubber for January 2022 on the Shanghai trading floor increased by 3.4% to 14,935 CNY/ton.
Arabica coffee prices are still the highest in nearly 10 years
Arabica coffee prices hit a near 10-year high before easing slightly late in the session, driven by tight supplies in top producing countries and fears of adverse weather.
The price of arabica coffee for March 2022 on ICE increased 1.9% to 2,334 USD/lb, in one session reaching 2,3955 USD/lb – the highest since January 2012.
At the same time, the price of robusta coffee for January 1, 2022 on the London floor increased by 1.5% to 2,245 USD/ton.
Sugar prices fall
The price of raw sugar for March 2022 on ICE fell 0.9% to 19.99 US cents/lb, in the previous session reaching 20.69 US cents/lb – the highest since February 2017.
At the same time, the price of white sugar in March 2022 on the London floor fell 0.8% to $522.6/ton.
Wheat prices up, corn and soybeans down
Wheat prices in the US rose, as strong buying activity pushed wheat prices to near-multi-year highs reached earlier this week.
On the Chicago Mercantile Exchange, the price of soft red winter wheat for the March term in March 2022 increased 3-1/2 US cents to 8.34-1/4 USD/bushel. Soybean futures for January 2022 fell 2 US cents to 12.63-1/4 USD/bushel and corn futures December 2021 fell 2-1/4 US cents to 5.7-3/4 USD. /bushel.
Palm oil prices have a 2nd consecutive week of increase
Palm oil prices in Malaysia fell as investors took profits, but had a second consecutive week of gains as concerns about declining output and strong exports supported prices.
Palm oil futures February 2022 on the Bursa Malaysia exchange fell 0.2 percent to 4,988 ringgit ($1,192.73) per ton. Palm oil prices fell on profit-taking after gaining 4.39% in the previous two sessions. For the whole week, palm oil prices increased 1.07%, after increasing 1.13% in the previous week.
Prices of some key items on the morning of November 20:
