Nasdaq Commodities

The World Platinum Investment Council (WPIC) has released its latest platinum market report, adjusting its 2024 deficit projection up to 476,000 ounces as weaker supply is outpaced by sustained auto and industrial demand.“For the second consecutive year, the platinum market will post a meaningful deficit underscored by platinum's sustained demand and supply vulnerability amidst global economic challenges,” said WPIC CEO Trevor Raymond.“While we currently forecast a deficit of 476 koz, it is worth mentioning that a revision to the bar and coin investment series, based on new field research and information, could mean this deficit is potentially deeper,” he added.Total platinum supply in the first quarter was the second lowest in the WPIC's time series at at 1,625,000 ounces, with the full-year number also expected to be near a record low. The market deficit for the quarter came in at 369,000 ounces.Despite efforts to bolster supply, risks remain a prominent theme in 2024. Total mine supply is forecast to decrease by 3 percent year-on-year, driven by lower output from key producing regions such as South Africa and Russia.More specifically, restructuring and impending closure announcements in the South African region have had a major impact in maintaining operational flexibility, according to Edward Sterck, the WPIC's director of research.“In the past, if a mining company happened to hit a geological interruption, they might have been able to move the work elsewhere. Going forward, the flexibility to be able to do that is probably reduced,” he told the Investing News Network.Refined production in South Africa is expected to decline by 2 percent year-on-year due to announced restructuring plans, closures of shafts/sections and slower production ramp ups than previously anticipated.Similarly, Russian supply is projected to be affected by planned smelter maintenance throughout 2024. In North America, headcount reductions are anticipated to impede the return of production to pre-2020 levels.Recycling also contributes to platinum supply, and while it showed some improvement in Q1 compared to the fourth quarter of 2023, it remains historically weak. The WPIC reported better jewelry recycling, primarily driven by the liquidation of platinum jewelry stocks, but said weakness persists in automotive recycling and the electronics sector. Automotive sector leads platinum demand higher On the demand side, automotive platinum demand is benefiting from ongoing substitution of platinum for palladium, increased production of light- and heavy-duty vehicles and hybridization trends.Coming in at a seven year high in Q1, automotive demand was 832,000 ounces, which Sterck said was partially the result of consumers' reluctance to switch from internal combustion engine vehicles to electric vehicles (EVs). He noted that EV market share has stalled out at about 20 to 25 percent in China, while Europe is at about 20 percent. North America is quite a bit lower, at only single digits for EV market share. "That said, they are prepared to make the switch to partial electrification. So we're seeing the fastest-growing segments now are hybrid vehicles," he said, adding that these vehicles require platinum. "I think the kind of impact here really is that what we're seeing is potentially a higher-for-longer environment for platinum for automotive end uses." Meanwhile, platinum demand from the jewelry sector is expected to rebound from a low base, with an anticipated increase of 109,000 ounces in 2024. The WPIC anticipates that this growth will be broad-based, with India expected to lead the way in terms of growth, while China is poised for a mild recovery.Total industrial demand for platinum is forecast at 2,242,000 ounces in 2024, reflecting a 15 percent decline year-on-year. This decline should be understood in the context of record demand levels in 2023.The industrial demand segment now includes a separate line item for the hydrogen economy, accounting for 75,000 ounces and representing a significant increase of 128 percent year-on-year. This encompasses applications such as electrolysis, stationary power and non-automotive fuel cell mobility. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Welcome to our monthly round-up of the LBMA OTC trading volumes in gold, silver, platinum and palladium, as recorded on a daily basis by the Association.

FXEmpire.com - Natural Gas Technical Analysis Natural gas markets have pulled back slightly during the early hours on Tuesday as we continue to see an overall upward move, but we are getting a little stretched at this point. This does make a certain amount of sense considering th

FXEmpire.com - U.S. Natural Gas Futures Movement U.S. natural gas futures are lower early Tuesday, contrasting with a 15-week high reached on Monday when prices surged approximately 6% due to increased demand projections for the coming week. This recent fluctuation in prices come

To receive updates on ag commodities in your inbox, subscribe to the free newsletter Agricultural Commodities Focus.Global wheat stocks are projected to decline for the fifth consecutive year, reaching their lowest levels since 2015/16, as major exporting countries grapple with s

To receive updates on ag commodities in your inbox, subscribe to the free newsletter Agricultural Commodities Focus.Cotton prices have retreated in recent weeks, reflecting an easing of concerns about exportable supplies and uncertainty regarding Chinese import demand in the upco

FXEmpire.com - Market Overview Oil prices increased, driven by improved economic prospects in China and wildfire threats in Alberta. Chinese inflation data for April indicate

Nick Hodge, publisher at Digest Publishing, shared his latest thoughts on gold, silver, copper and uranium. Speaking first about the yellow metal, he said he sees it maintaining its bullish edge. "Gold is starting to check technical milestones. It's checking technical boxes that tell broader, more generalist investors that gold is emerging from a bear market, and it starts to beget or attract capital simply because it's going up," Hodge explained. While silver is currently lagging behind gold, it's starting to move based on a shift in perspective. "What's happened is that silver is being treated now as more of a precious metal than an industrial metal," Hodge explained during the interview. "Before it was trading sideways to down with copper, and now that gold has caught a bid, silver is doing what it's typically done in the past — it's being treated more as a precious metal."Looking over to copper, he said while its supply/demand fundamentals have been strong for some time, prices are now moving because a recession hasn't materialized in the US. Meanwhile, other countries are coming out of recessions. One way Hodge is playing copper is with the iShares Copper and Metals Mining ETF (NASDAQ:ICOP). In closing, he touched on uranium, saying he remains bullish as the commodity consolidates after a quick run. "Commodities move in cycles ... and I think that it's going to be a cascading or a wave effect," he said. "We talked about how investors are bored with uranium right now because they're more intrigued with gold and copper. Well you're going to see that copper will do its thing for a little bit and then it'll spill over into silver and platinum-group metals and then back into uranium. I think that with higher inflation for longer and then with relatively stagnant growth it's a good environment for commodities across the board to move higher. And they're just going to do so in independent cycles." Watch the interview above for more of Hodge's thoughts on gold, silver, copper and uranium. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

FXEmpire.com - Following a drop below Friday’s low earlier in Monday’s session, natural gas rallied to a new trend high, generating a bullish outside day. In addition, last week’s high was exceeded. If today’s close is above last week’s high of 2.34, another bullish clue will be

FXEmpire.com - Natural Gas Natural Gas 130524 Daily Chart Natural gas tests new highs as the rebound continues. Strong demand forom LNG exports provides additional support to prices.

FXEmpire.com - Gold Gold 130524 Daily Chart Gold pulls back as traders take profits after the recent rebound. Falling Treasury yields did not provide support to gold markets.

Following the discovery of assay result inconsistencies at its Wawa gold project, Red Pine Exploration (TSXV:RPX,OTCQB:RDEXF) disclosed on May 10 that 532 out of approximately 98,000 assay results in its database appear to have been manipulated since it took ownership of the asset in 2014.An internal investigation has revealed that the assay result inconsistencies were caused by the actions of the company's former CEO, Quentin Yarie. The discrepancies were first reported by Red Pine on May 1. Yarie is alleged to have manipulated certain assay results received from Activation Laboratories, subsequently disseminating them for various purposes, including resource modeling and public disclosure.The Wawa gold project, which is situated in Northern Ontario and is the company’s flagship operation, covers over 7,000 hectares and is home to several past-producing mines with historic production of 120,000 ounces of gold. The company's share price plunged on May 1, dropping to C$0.08 from the previous day's close of C$0.21. While it saw a slight recovery over the next two weeks, rising as high as C$0.12, it sank again on May 10 to C$0.09. Chart via Google Finance. Red Pine Exploration stock chart, April 15 to May 13. According to Red Pine, assay result mismatches occurred during two periods: 2014 to 2019 and 2019 to 2024. In the 2014 to 2019 period, both the Surluga and Minto deposits at Wawa were affected. The company's May 10 release notes that while no material losses are anticipated from Surluga's indicated resource, it estimates a reduction of 39,500 to 54,000 ounces from its inferred resource. In terms of Minto, Red Pine said it estimates a loss of 8,000 to 12,000 ounces from its indicated resource and a decrease of 16,000 to 20,000 ounces in its inferred resource. The company has emphasized that these numbers are its own internal estimates and have not been verified by an independent qualified person. Investigations into the 2019 to 2024 period are ongoing, although Red Pine said it hopes to provide an update in a press release before the market opens on Wednesday (May 15). A conference call is planned for that day at 10:00 a.m. EDT. WSP Global, a consulting and engineering firm, has been appointed by the company to oversee an independent verification of all assay certificates from 2014 to the present. Red Pine has also informed the Ontario Securities Commission about the issue, and is looking into possible legal remedies moving forward. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Major fertilizer producer Nutrien (TSX:NTR,NYSE:NTR) shared its first quarter results on May 8, reporting net earnings of US$165 million for the period, down 71 percent year-on-year. Adjusted EBITDA came in at US$1.1 billion, a 26 percent year-on-year decline, while Nutrien recorded adjusted net earnings per share of US$0.46, a fall of 50 percent over the same timeframe. The company said the decreases came on the back of lower net fertilizer selling prices, but pointed to strong demand for crop inputs. It is seeing strong potash demand in North America, as well as Southeast Asia, where lower inventory levels are supporting buying. Nutrien also pointed to strong Q1 potash imports from China. Nutrien's four operating segments are Nutrien Ag Solutions, potash, nitrogen and phosphate. The company highlighted Ag Solutions' adjusted first quarter EBITDA of US$77 million, saying it was propelled by higher gross margins for crop nutrients and crop protection products, which make up a surging market in the North American region.The potash segment's adjusted EBITDA declined slightly to US$530 million in Q1. However, Nutrien was able to increase potash production and reduce controllable cash costs per metric ton through advancements in mine automation.Meanwhile, adjusted EBITDA for the nitrogen segment sank to US$464 million. The company said selling prices for all major nitrogen products were lower during the first quarter, offsetting higher sales volumes and lower natural gas prices. President and CEO Ken Seitz underscored the company's ability to meet customer needs amid shifting market conditions, commenting, “Our results highlighted the capabilities of our flexible, low-cost production assets and downstream distribution network to efficiently supply our customers’ needs.”He added, “We expect growth in retail earnings and fertilizer sales volumes compared to the prior year and have maintained our 2024 guidance ranges. Our focus remains on strengthening our capability to serve growers and enhancing our core businesses to improve the quality of our earnings and free cash flow." In the release, Nutrien also reaffirmed its commitment to prioritizing the safety and wellbeing of its employees following an incident at its Saskatchewan mine last March during which a worker sustained injuries.Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural Gas Technical Analysis The natural gas markets have rallied just a little bit during the trading session here on Monday and at this point in time, it looks like the $2 level underneath is going to continue to be an attractive support level.

FXEmpire.com - Natural Gas Futures Decline: Bearish Signals Emerge Technical Adjustment: Natural gas futures took a downward turn, influenced by signs of a potential bearish trend, notably highlighted by a closing price reversal top last Friday. This movement is largely seen as a

Peabody Energy Corp (Symbol: BTU) has been named as the ''Top Dividend Stock of the S&P Metals and Mining Select Industry Index'', according to Dividend Channel, which published its most recent ''DividendRank'' report. The report noted that among the components of the S&am

FXEmpire.com - Market Overview Oil prices dropped this week, reflecting weak fuel demand and comments from U.S. Federal Reserve officials that reduced hopes for imminent inte

FXEmpire.com - Market Overview Natural gas futures closed lower on Friday but marked a strong week overall, buoyed by decreasing production levels and robust demand linked to liquefied natural gas (LNG) exports. This positive momentum allowed natural gas to secure gains for the s

Gold and silver prices were on the move this week, with the former rising above US$2,370 per ounce on Friday (May 10), and the latter hitting US$28.67 per ounce that same day. Both pulled back slightly to finish. Market participants continue to digest the US Federal Reserve's decision to leave interest rates unchanged, and a recent Gallup poll shows that persistent inflation is affecting the public's faith in Chair Jerome Powell. While 39 percent of US adults have a “great deal” or a “fair amount” of confidence that he will do the right thing for the economy, that's up only 3 percent from a year ago, when Powell was taking heat for rising prices. Confidence in Powell is much higher among Democrats than Republicans at 56 percent vs. 30 percent.Across the pond, all eyes were on the Bank of England, which like the Fed held rates steady at its latest meeting; however, officials seem relatively confident that inflation is being reined in, with rate cuts possible in June.CME Group's (NASDAQ:CME) FedWatch tool shows the Fed is expected to leave rates unchanged at its June and July meetings, with a 50.3 percent likelihood of a cut in September. The next consumer price index reading is due on May 15. Bullet briefing — South Koreans buy gold, Argentum loses silver claim South Korean retail investors snap up goldSouth Koreans are eager to get their hands on gold, and retailers are delivering. Since April, the country's largest convenience store chain has been selling miniature gold bars weighing between 0.1 and 1.87 grams, and they're flying off the shelves — 1 gram bars reportedly sold out within two days, with people in their 30s being strong buyers.Another chain, called GS25, is even selling gold wafers from vending machines.If you've been following gold demand trends, this story out of South Korea will likely sound familiar. It's similar to the "gold beans" spree that swept China earlier this year, and it's also in the same vein as Costco's (NASDAQ:COST) foray into gold sales. While the experts I've spoken with have emphasized that buying gold in such small denominations generally isn't cost effective, they've been encouraged to see wider demographics take an interest in gold.Argentum loses salvaged silver claimArgentum Exploration, a company owned by GB News investor Sir Paul Marshall, has lost a legal battle with South Africa over 2,364 salvaged silver bars worth an estimated US$42 million.Back in 2017, Argentum recovered the silver from a WWII-era shipwreck in the Indian Ocean. It launched a claim for salvage, but South Africa said it was the rightful owner — the metal was sold to the country by India for use in South African and Egyptian coins, but the vessel transporting it was sunk by Japanese torpedoes. Although South Africa didn't ask Argentum to retrieve the metal, several courts have now ruled against Argentum, making South Africa immune to its claim. The parties reportedly came to a private agreement prior to the judgment. Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.And don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Gold and silver prices were on the move this week, with the former rising above US$2,370 per ounce on Friday (May 10), and the latter hitting US$28.67 per ounce that same day. Both pulled back slightly to finish. Market participants continue to digest the US Federal Reserve's decision to leave interest rates unchanged, and a recent Gallup poll shows that persistent inflation is affecting the public's faith in Chair Jerome Powell. While 39 percent of US adults have a “great deal” or a “fair amount” of confidence that he will do the right thing for the economy, that's up only 3 percent from a year ago, when Powell was taking heat for rising prices. Confidence in Powell is much higher among Democrats than Republicans at 56 percent vs. 30 percent.Across the pond, all eyes were on the Bank of England, which like the Fed held rates steady at its latest meeting; however, officials seem relatively confident that inflation is being reined in, with rate cuts possible in June.CME Group's (NASDAQ:CME) FedWatch tool shows the Fed is expected to leave rates unchanged at its June and July meetings, with a 50.3 percent likelihood of a cut in September. The next consumer price index reading is due on May 15. Bullet briefing — South Koreans buy gold, Argentum loses silver claim South Korean retail investors snap up goldSouth Koreans are eager to get their hands on gold, and retailers are delivering. Since April, the country's largest convenience store chain has been selling miniature gold bars weighing between 0.1 and 1.87 grams, and they're flying off the shelves — 1 gram bars reportedly sold out within two days, with people in their 30s being strong buyers.Another chain, called GS25, is even selling gold wafers from vending machines.If you've been following gold demand trends, this story out of South Korea will likely sound familiar. It's similar to the "gold beans" spree that swept China earlier this year, and it's also in the same vein as Costco's (NASDAQ:COST) foray into gold sales. While the experts I've spoken with have emphasized that buying gold in such small denominations generally isn't cost effective, they've been encouraged to see wider demographics take an interest in gold.Argentum loses salvaged silver claimArgentum Exploration, a company owned by GB News investor Sir Paul Marshall, has lost a legal battle with South Africa over 2,364 salvaged silver bars worth an estimated US$42 million.Back in 2017, Argentum recovered the silver from a WWII-era shipwreck in the Indian Ocean. It launched a claim for salvage, but South Africa said it was the rightful owner — the metal was sold to the country by India for use in South African and Egyptian coins, but the vessel transporting it was sunk by Japanese torpedoes. Although South Africa didn't ask Argentum to retrieve the metal, several courts have now ruled against Argentum, making South Africa immune to its claim. The parties reportedly came to a private agreement prior to the judgment. Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.And don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.