Metals Haven’t Crashed This Hard Since The Great Recession

“Even if China recovers in the second half, it will not be able to single-handedly boost prices back to new highs – that age has gone,” Amelia Xiao Fu, head of commodities strategy at BOCI Global Commodities, said by phone from London. “If other major economies are heading towards a recession, China will not be … Read more

US Boosts Biofuel Quotas as Gasoline Prices Surge

The value of RINs, the tradable credits used to fulfill the quotas, softened slightly during Friday’s trading session, in part because of that reduction for advanced biofuels, said Mario Lopez, an analyst at consultancy Energy Aspects. Overall, the final requirements will deepen a deficit in credits tracking ethanol consumption and should push prices higher, Lopez … Read more

Saudi Aramco Becomes World’s Most Valuable Stock as Apple Drops

“There’s panic selling in a lot of tech and other high-multiple names, and the money coming out of there seems headed in particular for energy, which for now has a favorable outlook, given commodity prices,” he said. “Companies like Aramco are benefiting significantly from this environment.” .

Desperate for Coal, India’s Metal Makers Hunt for Fuel Overseas

Jindal Steel & Power Ltd., which is running its sponge iron plants at 40% capacity as it does not have enough of the fossil fuel, has contracted orders for 150,000 tons of thermal coal each for the months of May and June from South Africa and Mozambique, according to Managing Director VR Sharma. That’s the … Read more