• About
  • Privacy Policy
  • Contact
Monday, June 5, 2023
No Result
View All Result
NEWSLETTER
Diplomatic Info
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
  • Home
  • Diplomacy
  • Embassy News and Info
  • Events
  • Nigeria
  • Business
  • Politics
  • Security
  • Cover Story
  • ECOWAS
    • Togo
    • Sierra Leone
    • Senegal
    • Nigeria
    • Niger
    • Mali
    • Liberia
    • Guinea Bissau
    • Guinea
    • Ghana
    • The Gambia
    • Cote D’Ivoire
    • Cabo Verde
    • Burkina Faso
    • Benin
  • Advertise
No Result
View All Result
Diplomatic Info
No Result
View All Result
Home Business

Weather woes, supply struggles, Chinese stimulus spur commodity rally

by Diplomatic Info
August 30, 2022
in Business, International
0
Weather woes, supply struggles, Chinese stimulus spur commodity rally
0
SHARES
8
VIEWS
Facebook ShareShare on WhatsAppTweet it!

In over-the-counter market, copper rises 2.1%, aluminum 3.9%, and zinc 1.7%.

ISTANBUL

Commodity markets saw an upward trend last week as soaring global temperatures, supply concerns, and China’s economic incentives fanned fears.

China stepped up its 1 trillion yuan ($146 billion) economic stimulus to support growth and mitigate the effects of repeated COVID-19 shutdowns and the real estate market crisis. This was received positively in the commodities market.

While losses were observed in precious metals, increases were dominant in base metals. Last week gold fell 0.5%, silver 0.7%, and palladium 0.7%.

Uncertainties regarding the monetary policy of the US Federal Reserve in September caused fluctuations in the price per ounce of gold.

In the over-the-counter market, copper rose 2.1%, aluminum 3.9%, and zinc 1.7%.

Brent crude rose more than 3% on supply concerns.

The rise in prices was due to Saudi Arabia’s statement that OPEC could cut production despite the recent declines in oil prices.

The news that oil producers such as ExxonMobil and Chevron might not be able to export Kazakh oil transported to Europe via Russia due to damaged equipment also supported supply concerns and helped fuel the upward movement in prices.

Due to ongoing hot weather in Europe, concerns about supply caused an increase in wheat and corn prices.

On the Chicago Mercantile Exchange last week, wheat gained 5.2%, corn 6.7%, soybeans 4.3%, and rice 1.3%.

Coffee prices finished the week up 12.2%, while cocoa gained 1.9%, cotton 1.6%, and sugar 2.1%.

Diplomatic Info

Diplomatic Info

Next Post
Air France suspends two pilots for exchanging blows aboard international flight

Air France suspends two pilots for exchanging blows aboard international flight

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

$1 billion needed to solve northern Nigeria’s hunger crisis: UN

$1 billion needed to solve northern Nigeria’s hunger crisis: UN

2 years ago
Algeria Arrests Relatives of Wanted Dissident: Rights Group

Algeria Arrests Relatives of Wanted Dissident: Rights Group

4 months ago

Popular News

    Connect with us on Facebook

    Subscribe to Our Newsletter

    Enter your email now to join our community of readers, and get new contents straight to your inbox

    We promise to not spam you

    Thanks for joining in.

    Category

    • Africa
    • Benin
    • Burkina Faso
    • Business
    • Cote D'Ivoire
    • Cover Story
    • Diplomacy
    • ECOWAS
    • Education
    • Embassy News and Info
    • Events
    • Ghana
    • Guinea
    • Guinea Bissau
    • International
    • Liberia
    • Mali
    • News
    • Niger
    • Nigeria
    • Politics
    • Programs
    • Security
    • Senegal
    • Sierra Leone
    • The Gambia
    • Togo
    • Uncategorized

    Quick Links

    • About
    • Contact
    • Privacy Policy
    • Advertise

    About Us

    Providing strategic insights into important social, cultural, political, and economic factors that significantly influence business and nations, Diplomatic Info will examine these critical issues and provide strategies that create competitive advantages.

    © 2021 Diplomatic Info - Built by O.V.

    No Result
    View All Result
    • Home
    • Diplomacy
    • Embassy News and Info
    • Events
    • Business
    • Politics
    • Security
    • News
    • Cover Story
    • Africa
    • ECOWAS
      • Togo
      • Sierra Leone
      • Senegal
      • Nigeria
      • Niger
      • Mali
      • Liberia
      • Guinea Bissau
      • Guinea
      • The Gambia
      • Cote D’Ivoire
      • Ghana
      • Cabo Verde
      • Benin
      • Burkina Faso
    • International
    • Contact

    © 2021 Diplomatic Info - Built by O.V.