From Investing.com: 2024-11-18 04:43:00

China announced the end of export tax rebates for aluminum, causing LME prices to surge 8.5%. This move could impact global aluminum markets and reduce Chinese exports. Speculators decreased net long positions in COMEX copper and precious metals. Oil prices held steady, with ICE Brent above $71/bbl. US drilling activity slowed, with active oil rigs decreasing by one. Cocoa prices rose due to supply concerns from Ivory Coast and European regulatory uncertainties. China’s cocoa imports dropped 87.7% YoY in October, while grain exports from Ukraine have risen significantly. Money managers decreased net short positions in CBOT corn and increased them in wheat.



Read more at Investing.com: Crude Oil, Natural Gas, and Metals: China’s New Policies Rock Global Trade