Commodity prices for raw materials fell at the close of the session on October 18 due to weak September economic data in both the US and China – evidence that the crises are having a negative impact on the economy. Global.
Oil falls after US industrial production data
Oil prices retreated from multi-year highs as US industrial output fell in September, easing tension in energy markets.
Output at U.S. factories fell by the most in nine months in September as a global shortage of semiconductors caused motor vehicle output to fall further, adding further evidence of limited supply. are hindering economic growth.
Ending the session, Brent oil price fell 53 US cents, or 0.6%, to 84.33 USD/barrel, after touching 86.04 USD, the highest since October 2018.
However, US West Texas Intermediate (WTI) oil rose 16 US cents, or 1.19%, to $82.44 a barrel by the end of the session, after touching $83.87, its highest level since October 2019. 2014.
Last week, both oils gained at least 3%.
Gold under pressure by rising US bond yields
Gold prices fell in the past session as rising US Treasury yields reduced the attractiveness of gold, although risk aversion in financial markets in general limited gold prices sharply.
Accordingly, spot gold fell 0.1% to $1,765.14 an ounce, while December gold futures fell 0.2% to $1,765.70.
“If yields continue to rise, the turbulence in the gold market will continue,” said OANDA analyst Craig Erlam.
Copper falls off record high
Weak economic data from China and the US prevented copper prices from rallying, although a sharp drop in supply forced traders to pay an all-time high plus for spot copper.
China’s economy cooled to its slowest growth rate in a year in the third quarter, hit by power shortages, supply chain bottlenecks and massive upheavals in the property market, putting pressure on China’s economy. pressure on policymakers, forcing them to do more to support the economy.
Three-month copper futures on the London Stock Exchange fell 0.7 percent to $10,213 per tonne, while the difference in spot copper prices over three-month futures rose to over $1,000 per ton, nearly double the previous record high. , was established in 1987.
US gas fell about 8%, in Europe and Asia continued to be high
U.S. natural gas prices fell nearly 8% to a three-week low on mild weather forecasts and increased production, despite a rise in gas prices in Europe after Russian gas giant Gazprom failed to installed more pipeline capacity to deliver more of this fuel to Europe.
On the US market, gas prices for November delivery fell 42.1 cents, or 7.8%, to $4,989 per million British thermal units (mmBtu), the lowest closing level since September 23.
Iron and steel decrease
Iron ore prices in China fell last session. Accordingly, ore for January 2022 on Dalian bourse fell 2.3% to 711 CNY/ton.
Steel prices this session also fell. On the Shanghai floor, rebar – used in construction – fell 1.2% to 5,422 CNY/ton; Hot rolled coil – used in production and fabrication – fell 0.4% to CNY 5,678/ton, while stainless steel increased 0.8% to CNY 20,680/ton.
Coal record high
Coal prices in China surged to a record high as cold weather exacerbated supply shortages. The price of coking coal for January contract term on October 18 session sometimes increased 9% to 3,869 yuan ($601.24)/ton, ending the session still 8.4% higher than the previous session (15). /10), reaching 3,847 yuan/ton.
Coke futures also rose 9% this session to 4,344 yuan/ton.
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