Cocoa Prices Double From Start of 2024
The most-active contract in New York rose to $8,394 a metric ton, the highest on record! Source : bloomberg
Is more foodflation coming?
Source: Bloomberg, Tavi Costa
Dr. Copper Breaks Out Again ?
Copper prices have remained significantly below their peaks in 2022, yet they've established a robust foundation over the past eighteen months, from which they are now beginning to rise. Based on the price and momentum readings, several technical analysts believe this could be the start of a more sustained move to the upside. source : tradingview
The cocoa rally.
Cocoa prices hit a fresh record high, fast approaching the once unthinkable $7,000 per tonne level. At current levels, we will see soon widespread retail price increases for all kinds of chocolate. Source: Bloomberg, Javier Blas
Call Options Volume in Precious Metals is surging to 1-year highs according to Goldman Sachs.
Chart includes $GDX $GLD $SLV Source: barchart
Nobody cares about Commodities
Source: Win Smart
Cocoa Hits All-Time High 🚨
Cocoa competing against Nvidia $NVDA to see which one can set the most of new all-time highs this year... Source: Barchart
The World’s Top Cobalt Producing Countries by Elements / Visual Capitalist
Cobalt, an essential component of key chemistries of the rechargeable lithium-ion batteries used in EVs, has seen a significant shift in its global production landscape. The Democratic Republic of Congo (DRC) has long been the world’s largest cobalt producer, accounting for 73% of global output in 2022. However, according to the Cobalt Institute, the DRC’s dominance is projected to decrease to 57% by 2030 as Indonesia ramps up its cobalt production as a byproduct from its rapidly expanding nickel industry. The EV industry is the largest consumer of cobalt, accounting for approximately 40% of total demand. The exponential growth of the EV sector is expected to drive a doubling of global cobalt demand by 2030.
