Commodities

Russian President Vladimir Putin said on Thursday (Nov. 24) that attempts by the West to introduce a price cap on oil Russia is producing will very likely seriously affect the global energy market. “Such actions are contrary to the principles of market relations,” he told new Iraqi Prime Minister Mohammed Shia al-Sudani, according to the Kremlin’s press release. Earlier, Russian Foreign Ministry

Aluminium prices eased on Tuesday (March 22) after rally but supply woes limited the commodity’s decline. The most-traded May aluminium contract on the Shanghai Futures Exchange SAFcv1 closed down 0.3% at 22,950 yuan ($3,608.55) a tonne. Aluminum futures have been rallying since mid-December and hit a record high above $3,800 a ton in the first week of March, as the intensifying Russia-Ukraine

Palladium rose on Thursday (March 3), extending gains amid the deepening Ukraine crisis in the wake of sanctions imposed on Russia by the U.S. and Western countries set to disrupt exports of the precious metal. The auto-catalyst metal jumped 2% to $2,721.78, after hitting a fresh high since July at $2,735.18 earlier in the session. Palladium is usually transported by passenger planes and

Spot gold rallied to the highest level in more than a year on Thursday (Feb. 24) as safe-haven demand for the precious metal jumped after Russian President Putin launched a military operation in Ukraine and warned other countries that any attempt to interfere with the Russian action would lead to “consequences they have never seen.” The Russian head of state declared what

Egypt, one of the top wheat importers in the world, is not concerned by market disruptions as the Arab country benefits from a diverse pool of suppliers, the Ministry of Supply and Internal Trade told Reuters in a statement. “Our tender book includes 16 wheat import origins, which provides us with flexibility when it comes to managing the country’s needs for imported

India’s mineral production rose by 16 per cent year-on-year during the April-December period of the current financial year, provisional statistics of the Indian Bureau of Mines (IBM) showed on Wednesday (Feb. 16). The index of mineral production of mining and quarrying sector for the month of December 2021 stood at 120.3, higher by 2.6 percent compared to the level in the month

Iron ore with 63.5% iron content was quoted at around $140 a tonne for delivery at Tianjin, easing from a five-month high of $146 after Chinese authorities pledged to strengthen market supervision. The National Development and Reform Commission (NDRC) and the State Administration for Market Regulation had said there was speculation in iron ore trading and warned in a statement iron ore information