Check out these top charts to keep an eye on in the global commodity markets this week!
Credit : Mint News
15.04.2024 : Aluminum Surge: – With the LME’s ban on new Russian metal deliveries, the market braces for potential pricing shifts as old stocks flood in. Keep an eye on aluminum, which has seen a sharp uptick since February, surging over 6% recently.
Clean Tech Dominance: – China’s dominance in clean technology manufacturing continues to grow, with over 80% share in key segments like solar, batteries, and electric vehicles. Discussions at the BNEF Summit will delve into supply chain resilience in the clean energy sector.
Oil’s Geopolitical Dance: – Despite Iran’s strike on Israel, Brent crude remains resilient. However, this event adds a new layer of geopolitical risk, prompting reassessment of market dynamics already pushed by tight supply-demand, with oil prices soaring above $90.
Egg Market Challenges: – Bird flu outbreaks are resurging, impacting egg production and potentially leading to price hikes. As the virus spreads to new livestock, especially during peak bird migration, watch for potential disruptions in egg supply chains.
Energy Stocks Rally: – Fueled by strong oil prices, energy stocks are outperforming tech sectors. The Energy Select Sector ETF is up 15% this year, far surpassing the Nasdaq 100 Index. Energy’s leadership in market sectors underscores the current bullish sentiment.
Keep an eye on these key trends shaping global commodity markets this week!
*This article was originally published on bloomberg.com.*