From Investing.com: 2024-02-27 05:45:00

Chinese copper treatment charges hit a record low due to oversupply and smelting expansion. Refined copper output in China surged to a new high, impacting annual contracts and LME prices. Slow demand post-Lunar holidays caused LME copper prices to fall. Exchange inventories rose as spot prices fell, leading to uncertainty in the market.

Oil prices rise as China accelerates crude purchases and the US physical market strengthens. Russia imposes a 6-month ban on gasoline exports, except to certain countries. This move is to meet local demand for spring field work and refiner repairs. The ban is unlikely to affect the global gasoline market significantly.

Unfavorable weather impacts winter cereal and oil seed crops in Europe. Weekly USDA data shows varying export inspections for corn, soybeans, and wheat. Low rainfall and high temperatures affect crop quality, while excessive rainfall does not impact grain crops. Market information provided by ING for information purposes only.



Read more at Investing.com:: Oil Rises Amid Improved Sentiment; Copper TCs Plunge to Decade Lows