Analysis: Commodities

Investors rush to buy equities, dump gold in vaccine euphoria

Investors stormed into riskier assets last week, pumping $27 billion into equity funds as positive COVID-19 vaccine updates led to euphoric buying of shares in worst-hit sectors such as banks, travel...

Container freight rates soar on consumer goods boom, supply chain kinks

Global container shipping rates have surged to records on a spike in restocking demand in the United States and Europe, container scarcity at export hubs, and changes in freight flows because of the...

Brent touches $45/bbl on vaccine hopes and U.S. crude drawdown

Global oil benchmark Brent rose on Wednesday, briefly touching a more than two-month high above $45 a barrel on hopes of a COVID-19 vaccine that could boost demand and later pulling back as concerns...

Oil soars 8% on promising COVID-19 vaccine results

Oil surged about 8% on Monday, its biggest daily gain in more five months, after Pfizer announced promising results for its COVID-19 vaccine....

Miner Agnico beats quarterly profit on gold price surge, raises capex

Canada's Agnico Eagle Mines reported a better-than-expected quarterly profit on Wednesday, benefiting from a surge in gold prices and sales volume, and raised its capex forecast for the year as it...

Exclusive: China eyes more corn imports as shipments surge, set to become top buyer

China's government is discussing permits for millions of tonnes of additional corn imports over the next year, three industry sources told Reuters, amid a surge in animal feed demand and after storms...

Barrick Gold plans to expand exploration in Tanzania

Barrick Gold Corp said on Friday Tanzania has awarded 10 new exploration licenses to the Canadian miner and it plans to spend $8 million to carry out exploration in the country this year....

Kinross Gold reaffirms production growth on rising output, falling costs

Canadian gold miner Kinross Gold Corp said on Tuesday it expects to produce about 2.5 million gold equivalent ounces annually from 2020-2029, citing growing output across its mines and declining...

Pfizer vaccine hopes lift world stocks; dollar, gold on the defensive

Global shares bounced on Friday while safe havens such as the dollar were on the defensive as investors welcomed news that drugmaker Pfizer Inc could have a coronavirus vaccine ready in the United...

Barrick Gold expects nearly 11% drop in third-quarter gold output

Barrick Gold Corp on Thursday estimated a 10.8% drop in third-quarter gold production as the miner's Porgera project in Papua New Guinea remained shut during the period....

World stocks sag on pandemic surge, gold gains on safety bid

Global stock markets mostly retreated on Wednesday as a record number of new coronavirus infections in parts of Europe led investors to shift away from risky assets to traditional safe havens such as...

Wall Street closes higher on U.S. stimulus hopes, gold spikes and dollar drops

International stocks rose on Friday, with all three major Wall Street indexes posting weekly gains as investors grew more hopeful the U.S. government would provide additional economic stimulus....

Keeping it clean: U.S. ethanol producers invest in sanitizer for long haul

Red River Biorefinery in Grand Forks, North Dakota, came online in April, arguably the worst time for an ethanol facility to begin operating as the coronavirus pandemic sank fuel demand....

China fines Luckin Coffee and linked firms a total of $9 million

China's markets regulator said on Tuesday it has fined a group of 45 firms, including Luckin Coffee, a combined 61 million yuan for acts linked to Luckin's falsification of financial records and...

CME : 'Free money' for banks as investors pile into fractured gold market

Banks are making huge profits from gold as investors flood into a market fractured by the coronavirus crisis.

Barrick Gold accepts Chilean court closure ruling on Pascua-Lama project

Barrick Gold Corp said on Friday it would not appeal a Chilean court's ruling to uphold the closure order on the Chilean portion of its Pascua-Lama project imposed by the country's environmental...

Exclusive: Tesla in talks to buy low carbon nickel from Canada - sources

Tesla is in discussions with Canadian miner Giga Metals about helping to develop a large mine that would give the electric carmaker access to low carbon nickel for its batteries, three sources...

Oil prices slide near 2% after surprise U.S. crude stock build

Oil prices slid nearly 2% on Thursday after U.S. data showed a surprise build in crude stockpiles last week related in part to ongoing reductions at refineries along the Gulf of Mexico following...

Move aside robots, Tesla bets on aluminium casting

Robots are not efficient enough for Tesla's new car factory in Germany, which plans to replace hundreds of them with giant aluminium casting machines to build simpler chassis parts, a person familiar...