Copper Shorts Exposed to Supply Shock as Giant Mine Faces Strike

Copper bears could get caught wrong-footed as a strike looms at the world’s biggest mine. In the U.S., hedge funds’ bearish bets outnumber bullish wagers by the most since 2016, latest government data show. The top brokers on the Shanghai Futures Exchange boosted their net-short position by more than half. Sentiment has turned increasingly negative
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A row over human rights in Saudi Arabia will not have any impact on Saudi oil supplies to Canada, its energy minister said on Thursday, reassuring customers after Riyadh froze new trade with Canada and ruled out mediation efforts. Saudi Arabia, angered by Canada’s demand last week that jailed activists in the kingdom be freed
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Europe’s take of US LNG has slumped so far this year to less than 3% of total volume, prompting further talks between the EU and the US later this month to reduce regulation in order to boost US LNG deliveries into Europe and increase the price competitiveness of the region. Europe has received just 474
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European capital goods companies are starting to show the strain of Washington’s trade conflicts with China and other countries, as tariffs push up costs for machine parts and raw materials and threaten to worsen supply bottlenecks. Makers of machines that rely on thousands of small parts from around the world – from Swedish lawnmower maker
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Recent quality issues detected in some Singapore high sulfur fuel oil cargoes have impacted the North Asia bunker market, pushing up premiums, market sources said Friday. Singapore fuel testing company Maritec last Thursday said it had detected excessive sludge in a Singapore bunker fuel cargo that was likely of US or Estonian shale oil origin.
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Shanghai construction steel rebar futures jumped to a 10-month top on Thursday, climbing more than 1 percent as China’s crackdown on pollution raised concerns over supplies. China’s top steelmaking city Tangshan has extended recent emergency pollution control measures until July 21 because of a possible major smog alert. The most-active rebar contract on the Shanghai
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MUMBAI: With the aggressive pace of economic growth, India is on a fast track to development, powered by innovation and disruption across key sectors, encouraging Government policies and robust and aggressive growth in IT. Globally, as in India, the logistics sector is undergoing an unprecedented transformation fuelled by innovations in IT and digitisation. Despite this,
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Oil prices fell Friday as investors’ concerns over resurgent Libyan supply and global trade disputes outweighed several reports showing that crude supply was still tight. Brent crude, the global oil benchmark, fell 1.2% at $73.59 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate, futures traded 0.5% lower
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OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed, Russia’s Energy Minister Alexander Novak said. “I can’t rule out that if there is a need for more than 1 million barrels we will be able to quickly discuss it all together and
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More than 2 million b/d of global oil production was disrupted in June, the highest level of unplanned outages since May 2017, the Energy Information Administration said Tuesday as it raised Brent and WTI price projections for this year and next. EIA sees Brent oil prices averaging $71.80/b in 2018 and $68.74/b in 2019, and
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