Resource Stock Exchange Review ---- October 18
On October 18, most of the domestic commodity futures market closed down, with black and energy chemicals leading the decline. Coke fell nearly 4%, coking coal and butadiene rubber fell more than 3%, and methanol fell nearly 3%; most agricultural products fell, corn starch fell more than 2%, and Zheng Mian fell nearly 2%; most basic metals rose, industrial silicon, Shanghai lead, and international copper rose more than 1%; precious metals all rose, and Shanghai gold rose more than 1%. $SSIF DCE Iron Ore Futures Index ETF(03047.HK$
Iron ore news:
Global iron ore giant Brazil's Vale (Vale) revealed its production and sales report for the third quarter of 2023. In the third quarter of 2023, iron ore production in Vale fell 4% year over year, mainly due to a decline in raw ore production in the Paraopeba (Paraopeba) integrated operation area and a decline in production in the Serra Norte (Serra Norte) operation area.
At the same time, Vale mentioned that the overall quality was improved this quarter, and the iron content increased by 87 basis points over the same period last year, thanks to the increase in production in the S11D mining area. Meanwhile, with the commissioning of the Torto (Torto) mine dam, pellet powder production in the Brucutu (Brucutu) operation area increased, which led to an 11% year-on-year increase in pellet production. Furthermore, benefiting from favorable market conditions, Vale's iron ore powder and pellet sales increased 6% year-on-year in the third quarter.
Offer update:
Shanzheng Iron Ore (3047.HK) closed at HK$20.96, up 0.38%
Cumulative return: 1 week: 6.61% January: 0.96% March: 16.51% June: 21.51% Listing to date: 181.34%
Status of the Hong Kong Resources Stock:
The improvement in retail sales led to a general decline in the dollar against the market, which strongly boosted the trend of risky assets, while spot gold prices showed some bullish trends, because investors are still worried that the boom in the US economy may drive decisions by the Federal Reserve, and geopolitical concerns still provide safe-haven support for gold prices. However, the rise in US Treasury yields was a negative external market factor, limiting the room for gold and silver to rise.
Both oil benchmark indices rose last week due to fears that the conflict between Israel and Hamas might expand to oil-producing regions. Global benchmark Brent crude oil rose 7.5%, the biggest weekly gain since February. Retail sales in the US rose more than expected in September due to increased household purchases of motor vehicles and increased consumption in restaurants and bars, providing some support for crude oil prices. $CNOOC(00883.HK$ $Value Gold ETF(03081.HK$
Iron ore news:
Global iron ore giant Brazil's Vale (Vale) revealed its production and sales report for the third quarter of 2023. In the third quarter of 2023, iron ore production in Vale fell 4% year over year, mainly due to a decline in raw ore production in the Paraopeba (Paraopeba) integrated operation area and a decline in production in the Serra Norte (Serra Norte) operation area.
At the same time, Vale mentioned that the overall quality was improved this quarter, and the iron content increased by 87 basis points over the same period last year, thanks to the increase in production in the S11D mining area. Meanwhile, with the commissioning of the Torto (Torto) mine dam, pellet powder production in the Brucutu (Brucutu) operation area increased, which led to an 11% year-on-year increase in pellet production. Furthermore, benefiting from favorable market conditions, Vale's iron ore powder and pellet sales increased 6% year-on-year in the third quarter.
Offer update:
Shanzheng Iron Ore (3047.HK) closed at HK$20.96, up 0.38%
Cumulative return: 1 week: 6.61% January: 0.96% March: 16.51% June: 21.51% Listing to date: 181.34%
Status of the Hong Kong Resources Stock:
The improvement in retail sales led to a general decline in the dollar against the market, which strongly boosted the trend of risky assets, while spot gold prices showed some bullish trends, because investors are still worried that the boom in the US economy may drive decisions by the Federal Reserve, and geopolitical concerns still provide safe-haven support for gold prices. However, the rise in US Treasury yields was a negative external market factor, limiting the room for gold and silver to rise.
Both oil benchmark indices rose last week due to fears that the conflict between Israel and Hamas might expand to oil-producing regions. Global benchmark Brent crude oil rose 7.5%, the biggest weekly gain since February. Retail sales in the US rose more than expected in September due to increased household purchases of motor vehicles and increased consumption in restaurants and bars, providing some support for crude oil prices. $CNOOC(00883.HK$ $Value Gold ETF(03081.HK$
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3047 is a team specializing in the research of commodities and smart beta. We like to exchange investment strategies.
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