Resource stocks review ---- October 18th
On October 18th, most domestic commodity futures markets closed lower, with the black sector and petrochemical products leading the decline. Coking coal fell nearly 4%, coking coal, butadiene rubber fell more than 3%, methanol fell nearly 3%; most agricultural products fell, corn starch fell more than 2%, Zhengzhou cotton fell nearly 2%; most base metals rose, industrial silicon, Shanghai lead, international copper rose more than 1%; precious metals all rose, Shanghai gold rose more than 1%. $SSIF DCE Iron Ore Futures Index ETF (03047.HK)$
Iron ore news:
Global iron ore giant Vale released its production and sales report for the third quarter of 2023. In the third quarter of 2023, Vale's iron ore production decreased by 4% compared to the same period last year, mainly due to a decrease in production in the Paraopeba integrated operation area and the Serra Norte operating area.
At the same time, Vale mentioned that the overall quality has improved this quarter, with an increase of 87 basis points in iron content compared to the previous year, thanks to the growth in production in the S11D mine area. In addition, with the start of commissioning of the Torto dam and an increase in the production of pellets in the Brucutu operation area, the production of pellets increased by 11% year-on-year. Furthermore, benefiting from favorable market conditions, Vale's sales volume of iron ore fines and pellets in the third quarter increased by 6% year-on-year.
Quote update:
Shenzhen Shenzhen Agricultural Products Group (3047.HK) closed at HKD 20.96, up 0.38%.
Cumulative returns: 1 week: 6.61% 1 month: 0.96% 3 months: 16.51% 6 months: 21.51% since listing: 181.34%
Hong Kong resource stocks situation:
The improvement in retail sales has led to a general decline in the US dollar against the market, thereby strongly pushing up the trend of risk assets, while the spot gold price has shown some signs of a bullish trend as investors are still concerned that the prosperity of the US economy may drive the decisions of the Federal Reserve, and geopolitical concerns continue to provide safe-haven support for gold prices. However, the rise in US Treasury yields is a bearish external market factor that limits the upside potential of gold and silver.
Due to concerns that the conflict between Israel and Hamas could spread to oil-producing areas, both oil benchmark indexes rose last week. The global benchmark Brent crude oil rose by 7.5%, marking the largest weekly gain since February. The increase in household purchases of motor vehicles, as well as increased spending in restaurants and bars, contributed to a higher-than-expected retail sales in the United States in September, providing some support for crude oil prices. $CNOOC (00883.HK)$ $Value Gold ETF (03081.HK)$
Iron ore news:
Global iron ore giant Vale released its production and sales report for the third quarter of 2023. In the third quarter of 2023, Vale's iron ore production decreased by 4% compared to the same period last year, mainly due to a decrease in production in the Paraopeba integrated operation area and the Serra Norte operating area.
At the same time, Vale mentioned that the overall quality has improved this quarter, with an increase of 87 basis points in iron content compared to the previous year, thanks to the growth in production in the S11D mine area. In addition, with the start of commissioning of the Torto dam and an increase in the production of pellets in the Brucutu operation area, the production of pellets increased by 11% year-on-year. Furthermore, benefiting from favorable market conditions, Vale's sales volume of iron ore fines and pellets in the third quarter increased by 6% year-on-year.
Quote update:
Shenzhen Shenzhen Agricultural Products Group (3047.HK) closed at HKD 20.96, up 0.38%.
Cumulative returns: 1 week: 6.61% 1 month: 0.96% 3 months: 16.51% 6 months: 21.51% since listing: 181.34%
Hong Kong resource stocks situation:
The improvement in retail sales has led to a general decline in the US dollar against the market, thereby strongly pushing up the trend of risk assets, while the spot gold price has shown some signs of a bullish trend as investors are still concerned that the prosperity of the US economy may drive the decisions of the Federal Reserve, and geopolitical concerns continue to provide safe-haven support for gold prices. However, the rise in US Treasury yields is a bearish external market factor that limits the upside potential of gold and silver.
Due to concerns that the conflict between Israel and Hamas could spread to oil-producing areas, both oil benchmark indexes rose last week. The global benchmark Brent crude oil rose by 7.5%, marking the largest weekly gain since February. The increase in household purchases of motor vehicles, as well as increased spending in restaurants and bars, contributed to a higher-than-expected retail sales in the United States in September, providing some support for crude oil prices. $CNOOC (00883.HK)$ $Value Gold ETF (03081.HK)$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
3047 is a team specializing in the research of commodities and smart beta. We like to exchange investment strategies.
61Followers
2Following
191Visitors
Follow