TELF AG Explores Macro and Ferro-alloys Markets Amidst Global Economic Developments

TELF AG Releases 2023 Week 31 Market Round-Up

LUGANO, TICINO, SWITZERLAND, August 1, 2023/EINPresswire.com/ — TELF AG, a full-service international physical commodities trader with over 30 years of experience, reports the latest developments in the macro and ferro-alloys markets, shedding light on the impact of global economic factors on various commodities.

In the oil market, Brent crude futures have eased slightly below $84 per barrel, but still set to gain for the fifth consecutive week. TELF AG states that tightening global supplies and an improving outlook in Chinese demand are underpinning the rally, with voluntary output cuts by Saudi Arabia expected to tighten crude supply. Moreover, OPEC+ is willing to take further action to support the oil market. On the demand side, Chinese authorities’ efforts to shore up their economy have raised hopes for a stronger rebound in fuel consumption.

Regarding the gas market, TELF AG highlights that European natural gas prices have eased to below €29 per megawatt-hour. The region’s ample gas inventories outweigh supply risks, while the heat wave’s impact is starting to subside. Europe’s gas storage sites remain at around 84% of capacity, with Germany’s storage at 86%, and planned maintenance at major facilities in Norway may curb supply in the coming weeks.

In the freight market, TELF AG notes that the Baltic Dry Index (BDI) rose by 2.8% to 1,097 points, the highest in two weeks. Capesize shipping rates have experienced an upward trend due to increased demand for iron ore from South America to China, coal shipments from Colombia to Europe, and soybeans from Brazil to China. However, the real estate crisis in China and slow global economic conditions may limit the potential for further rate increases.

Moving to the ferro-alloys market, TELF AG reports on the stability of chrome ore prices, the reduction of tender prices for high carbon ferrochrome by Tsingshan, and the ups and downs of HC FeCr prices in various regions. The company also highlights the decline in high-grade manganese prices in China due to subdued demand and stronger supply, as well as the varying performance of the ferrosilicon market based on positive policies and weak demand.

Furthermore, TELF AG provides insights into the stainless steel market, citing increases in China’s STS prices on domestic and export markets following stimulus policies released by the government. However, demand in other countries or regions remains weak, limiting bullish sentiment.

The release emphasizes the mixed performance of base metals prices on the London Metal Exchange, with aluminum and zinc showing strength. Copper has shown the best monthly performance since January, driven by the prospect of further stimulus in Chinese consumption and speculation about the US Federal Reserve’s rate hike decisions.

TELF AG is committed to providing solutions for commodities producers worldwide. The company’s customer-focused approach and operational excellence have earned them widespread recognition in the industry. To stay updated on the latest developments in the macro and ferro-alloys markets, visit the article at https://telf.ch/telf-ag-2023-market-roundup-week-31/

About TELF AG:

TELF AG is a full-service international physical commodities trader with 30 years of experience in the industry. Headquartered in Lugano, Switzerland, the company operates globally, serving customers and providing solutions for commodities producers worldwide. TELF AG works in close partnership with producers to provide effective marketing, as well as financing and logistics solutions, which enable suppliers to focus on their core activities and to access far-reaching markets wherever they may be.

Its flexible, customer-focused approach allows TELF AG to create tailor-made solutions for each producer, thereby facilitating long-term partnerships. Additionally, consumers widely recognize them for their operational excellence and reliability.

Rick De Oliveira
TELF AG
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