Commodities:
International crude oil prices (WTI) ended lower by 1.57% for the week ended 30th May 2014 to
close at USD 102.71 per barrel. U.S. crude oil ended lower while weighing demand growth prospects
for oil after a more‐than‐expected jump in U.S. stockpiles last week and some mixed economic data.
International gold prices fell 3.57% for the week ended 30th May 2014 to close at USD 1245.60 per
troy ounce. Risk appetite has picked up in the world market place this week, as U.S. and some
European stock indexes are at or near record or multi‐year highs. Technical selling was also featured
in gold as key chart support levels were penetrated on the downside, which set off pre‐placed sell
stop orders.
All the base metals on the LME closed in a mix way during the week ended 30th May 2014. The
gainers for the week were Aluminium Alloy, Aluminium and Tin which rose by 0.25%, 2.06% and
0.77% respectively. Lead, Nickel, Zinc and Copper fell by 1.68%, 1.53%, 1.01% and 0.19%
respectively. Aluminium prices rose on Indonesia export ban as there is no alternative supplier of
bauxite of a sufficient scale and quality to replace the Indonesia material. Copper and nickel prices
fell on the London Metal Exchange weighed by opportunistic selling after recent gains.
The Baltic dry index (BDI), which is a global index tracking the movement of cargo by the sea route
fell 3.11% for the week ended 30th May 2014 to close at 934. BDI is a number issued daily by the
London‐based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides "an
assessment of the price of moving the major raw materials by sea”. Taking in 23 shipping routes
measured on a time charter basis, the index covers Handysize, Supramax, Panamax, and Capesize
dry bulk carriers carrying a range of commodities including coal, iron ore and grain.
International crude oil prices (WTI) ended lower by 1.57% for the week ended 30th May 2014 to
close at USD 102.71 per barrel. U.S. crude oil ended lower while weighing demand growth prospects
for oil after a more‐than‐expected jump in U.S. stockpiles last week and some mixed economic data.
International gold prices fell 3.57% for the week ended 30th May 2014 to close at USD 1245.60 per
troy ounce. Risk appetite has picked up in the world market place this week, as U.S. and some
European stock indexes are at or near record or multi‐year highs. Technical selling was also featured
in gold as key chart support levels were penetrated on the downside, which set off pre‐placed sell
stop orders.
All the base metals on the LME closed in a mix way during the week ended 30th May 2014. The
gainers for the week were Aluminium Alloy, Aluminium and Tin which rose by 0.25%, 2.06% and
0.77% respectively. Lead, Nickel, Zinc and Copper fell by 1.68%, 1.53%, 1.01% and 0.19%
respectively. Aluminium prices rose on Indonesia export ban as there is no alternative supplier of
bauxite of a sufficient scale and quality to replace the Indonesia material. Copper and nickel prices
fell on the London Metal Exchange weighed by opportunistic selling after recent gains.
The Baltic dry index (BDI), which is a global index tracking the movement of cargo by the sea route
fell 3.11% for the week ended 30th May 2014 to close at 934. BDI is a number issued daily by the
London‐based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides "an
assessment of the price of moving the major raw materials by sea”. Taking in 23 shipping routes
measured on a time charter basis, the index covers Handysize, Supramax, Panamax, and Capesize
dry bulk carriers carrying a range of commodities including coal, iron ore and grain.
