Copper prices continued their rise, rising above $10,000 per tonne, after freely available copper stocks tracked by London Metal Exchange (LME) warehouses fell to their lowest level since 1974. Freely available stocks on the LME have fallen 89 percent this month after a strong increase in orders to draw copper from warehouses in Europe. Inventories have also fallen sharply on rival exchanges and private sector warehouses, and price spreads between LME contracts have reached historic backwardation levels, with near-term contracts trading at very high premiums. Copper rose 1.1 percent to $10,090 on the LME, reaching its highest level since June 11. The decline in global stocks and strong demand for copper are creating a strong counterforce that offsets growing concerns about the macroeconomic outlook and the risk that stagflation and electricity shortages could negatively impact growth. Early Friday, one contract due to expire a day earlier traded at a $175 premium to the previous contract, well above previous peaks seen during short-term supply squeezes in recent years. This marks the largest 'backwardation' considering data going back to 1998. This premium was at $1 at close on Monday. The International Energy Agency (IAA) is of the opinion that not enough investment has been made to avoid the devastating effects of climate change and sharp price increases in fossil fuels. The institution, which published a report before the Climate Change Summit to be held in Scotland, emphasized that green energy investments such as solar and wind are not sufficient to prevent global warming. The report stated that if the current demand for coal, oil and natural gas continues, investment in fossil fuels will be insufficient. The International Energy Agency (IAA) has warned that the world is unable to invest in energy at the scale it needs to escape devastating climate change and avoid sharp rises in fossil fuel prices. Just weeks before the key climate change summit known as COP26, investment in green energy such as solar and wind is less than what is needed to significantly protect the planet from warming, the organization said. At the same time, it was emphasized that spending on fossil fuels is less than what is needed if the increase in demand for oil, natural gas and coal continues. “There is an increasing risk that there will be more turbulence in global energy markets,” UEA President Fatih Birol said on Wednesday. "We are not making enough investments to meet future energy needs," he said.
Coal prices broke records in China Energy sector: There should be a 40-45 percent increase in electricity prices UAE becomes first Gulf country to set carbon neutral target Germany, a leader candidate in green hydrogen Energy crisis remains on the agenda The stark warning comes as the global economy grapples with the most troublesome energy shortage in a decade, with ongoing power outages hitting China and India. Even in Europe, fertilizer producers and iron and steel factories are forced to close due to record electricity and natural gas prices. Meanwhile, global emissions are on track for their second-largest annual increase in 2021 and are approaching an all-time high. He had previously warned of a shortage of green energy The IEA, which advises some of the industrialized countries including the United States, Germany and Japan, has in the past focused on warnings about low investment in green energy. However, in its flagship World Energy Outlook report, the organization also underlined that current investments are not enough if the planet remains as heavily dependent on fossil fuels as it is now. “While in recent years, investments in oil and natural gas supply have often seemed to be directed towards stagnant or even falling world demand, the purchase of internal combustion engine vehicles and the expansion of natural gas infrastructure point in another direction: increasing consumption of oil and natural gas,” the report said. . Pointing out that the pandemic, which caused oil and natural gas investments to approach a record low level in 2020, intensified this trend, IEA said, "If demand remains at high levels, this will cause tight supply in the coming years and increase the risk of higher and more volatile prices." Energy costs are rising In the past month, the cost of coal has reached a record high of over $200 per ton, surpassing the peak seen in the last commodity bubble in 2008, and natural gas prices have hit all-time highs in Europe and Asia. Short-term electricity prices in the UK at one point exceeded £400 ($544) per megawatt hour, 10 times their normal level. And oil prices hit a seven-year high above $80 a barrel, as demand for gasoline, diesel and other refined oil products rose strongly. Coal prices in China hit a record again Wednesday, 13 October 2021, 09:56 Update: Wednesday, October 13, 2021, 09:58 Coal prices in China hit a record again While heavy rains hit coal production regions in China, prices rose to a new record level. Coal futures contracts in China continued their rise and reached a new record as mining companies struggled with the negative effects of heavy rains in the main production centers. Coal futures broke a new intraday record, rising 8.8 percent to 1,640 yuan ($254.30) per ton on the Zhengzhou Commodity Market. The floods led to a decline in production at mines, putting additional pressure on energy supplies during a period of electrical power shortages that pose a threat to the country's economy. China mines more than half of the global coal supply. More than 60 percent of electricity production in the country is met by coal. Price restrictions on coal power plants are being relaxed in China Wednesday, 13 October 2021, 05:59 Update: Wednesday, October 13, 2021, 07:54 Price restrictions on coal power plants are being relaxed in China As a solution to the electricity supply crisis caused by rising coal prices, China will allow coal-fired power plants to increase their electricity sales prices at higher rates than market conditions. The country's main economic planning body, the National Development and Reform Commission, announced in a statement that coal-fired power plants will be allowed to increase their sales prices by 20 percent. In the pricing system determined by the government, the sales price was allowed to be increased by a maximum of 10 to 15 percent compared to the base prices.
There will be no price limitation on sales to large consumers. The Commission also stated that price increases for businesses consuming high amounts of electricity will not be limited to 20 percent, and price fluctuations will be allowed. It was stated that the floating price regime is intended to encourage such businesses to increase their energy efficiency. Household consumers and agricultural enterprises will be exempt from the increases. The Commission noted that household consumers and agricultural enterprises will be exempt from the new rules that will come into force on October 15. In China, where 56 percent of electricity production comes from coal-fired thermal power plants, there are difficulties in coal supply and related electricity production due to the increase in global coal prices. It is hoped that allowing price increases and fluctuations will increase electricity supply by encouraging producers. There were outages in 20 of 31 provinces and regions. Manufacturers had to stop electricity supply due to the increase in input costs at a loss, and for this reason, intermittent power outages occurred in 20 of 31 provinces and regions in mainland China in September. While there were unannounced power outages in many cities in the northeastern states, where household electricity is largely supplied by coal-fired power plants, intermittent electricity supply to many factories and workshops in the central, southern and eastern states caused problems in production. Due to the outages, large global companies such as Apple and Tesla, as well as many small and medium-sized businesses that play an important role in global manufacturing chains, had to suspend production. The governor wanted to see a sample of the cheese made here. Any kind of work that brings order to any place and ensures daily life. He went out today to buy a car. What is the meaning of the car? What does car mean? A task requested from someone or a service received. Uber, which provides private transportation services via the Internet and mobile application, is the oldest and oldest of the seed plants in the world and is called a living fossil, 30-40 m tall and 2-3 m in diameter. he accepted. In the statement made by the Copenhagen Police, it was noted that Uber BV, registered in the Netherlands, where the US-based company carries out its activities in Europe, agreed to pay a fine of 25 million kroner for violating the taxi law in Denmark. While Ankara's products reached 202 points in the world in the first half of the year, the most exports were to the USA with 325.8 million dollars. While the capital Ankara exported approximately 3.6 billion dollars in the first half of the year, the products sold reached 202 points around the world.
According to the information compiled by the AA correspondent from the Turkish Exporters Assembly (TİM) data, Ankara ranked 5th among the cities with the most exports in the January-June period. During the said period, the capital's exports decreased by 8.2 percent compared to the same period last year, reaching 3 billion 595 million 189 thousand dollars, due to the impact of the new type of coronavirus (Covid-19) epidemic. After a monthly decline in February, March, April and May, exports from the city increased by 24.6 percent compared to the previous month and reached 677 million 477 thousand dollars in June. The capital's exports decreased by 1.5 percent in February, 14.9 percent in March, 17.1 percent in April and 29 percent in May, when Covid-19 measures intensified in the world and in Turkey. - The largest export market is the USA While exporters from Ankara delivered their products to 197 countries and free trade zones in the first half of last year, the said figure increased to 202 in the same period of this year. Gibraltar, Cape Verde, Dominica, Mayotte, Guam, Macau and Eswatini were among the regions where products were not exported last year but were sold this year. In the January-June period, the leading country in Ankara's exports was the USA with 325.8 million dollars. In this ranking, the USA was followed by Germany with 297.4 million dollars, China with 252.8 million dollars, Iraq with 155 million dollars and Italy with 145.1 million dollars. - Exports were supported by the automotive, machinery and chemical sectors The first place in foreign sales from the capital on a sectoral basis in the first half of the year was automotive, with approximately 551.5 million dollars of products sold, while 524.1 million dollars of exports were made from machinery and parts, and 489.3 million dollars were exported from chemicals and products. On the other hand, in the first half of the year, Ankara stood out as the city that made the most exports in this field, with exports of 330.9 million dollars from the defense and aerospace industry. The capital shouldered 35.8 percent of the country's total foreign sales in this sector. In the statement, it was reported that the file against Uber BV was closed without going to court. Fines were also imposed on people working as drivers for Uber, which entered the Danish market in 2014 and ended its operations in the country in 2017.
The day after Thanksgiving has been choppy before -- fewer traders can mean more volatility -- but nothing like this year. The prospect of the freshly named Omicron variant of Covid derailing the world’s fight against the pandemic saw an early morning sell-off become a full-blown crash.
The initial plunge was driven by revived fears of widespread lockdowns and travel bans, but a host of technical factors, including anaemic post-holiday volumes, exacerbated the sell-off. The panic spread to every corner of the market from European diesel trades and time-spreads, the relative value of oil today to oil tomorrow, through to opaque options markets.
The market spiraled ever lower as oil broke through key technical levels -- U.S. futures pierced their 100-day and 200-day moving averages. That gave algorithmic computer-driven trades the upper hand on a day when many participants were away from the market.
However, 95% of trailers are not designed to be transferred from truck to train. In recent years, a solution to this problem has been found in.
Europe announced in June that it would issue bonds worth approximately $1 trillion in 5 years to finance the damage caused by the coronavirus pandemic.
The Union will hold a 10-year bond auction within the scope of the New Generation program. The President of the European Bank said in an interview that NGEU support is the future of Europe.