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𝗦𝗔’𝘀 𝗮𝗰𝘁𝘂𝗮𝗹 𝗺𝗶𝗻𝗶𝗻𝗴 𝘃𝗼𝗹𝘂𝗺𝗲𝘀 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗺𝗼𝗱𝗲𝗿𝗮𝘁𝗲𝗹𝘆 in August ‘25 compared to July as 𝗵𝗶𝗴𝗵𝗲𝗿 PGM, chromium, copper and nickel volumes 𝗼𝘂𝘁𝘄𝗲𝗶𝗴𝗵𝗲𝗱 𝗽𝘂𝗹𝗹𝗯𝗮𝗰𝗸𝘀 in gold, coal, iron ore, manganese ore and diamond output.
𝗦𝗔’𝘀 𝗮𝗰𝘁𝘂𝗮𝗹 𝗺𝗶𝗻𝗶𝗻𝗴 𝘃𝗼𝗹𝘂𝗺𝗲𝘀 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗺𝗼𝗱𝗲𝗿𝗮𝘁𝗲𝗹𝘆 in August ‘25 compared to July as 𝗵𝗶𝗴𝗵𝗲𝗿 PGM, chromium, copper and nickel volumes 𝗼𝘂𝘁𝘄𝗲𝗶𝗴𝗵𝗲𝗱 𝗽𝘂𝗹𝗹𝗯𝗮𝗰𝗸𝘀 in gold, coal, iron ore, manganese ore and diamond output.
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𝗚𝗼𝗹𝗱’𝘀 unrelenting 𝗿𝗶𝘀𝗲 this 𝘆𝗲𝗮𝗿 has taken it past the $𝟰 𝟬𝟬𝟬/𝗼𝘇 level for the 𝗳𝗶𝗿𝘀𝘁 𝘁𝗶𝗺𝗲 – 𝘁𝗵𝗲 𝗺𝗲𝘁𝗮𝗹’𝘀 𝗽𝗿𝗶𝗰𝗲 is now up 𝟱𝟰% for the 𝘆𝗲𝗮𝗿 (see graph). At the 𝗵𝗲𝗮𝗿𝘁 of the 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 is investment 𝗱𝗲𝗺𝗮𝗻𝗱 stemming from a confluence of 𝗴𝗲𝗼𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝗮𝗹 and 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗳𝗮𝗰𝘁𝗼𝗿𝘀.
𝗚𝗼𝗹𝗱’𝘀 unrelenting 𝗿𝗶𝘀𝗲 this 𝘆𝗲𝗮𝗿 has taken it past the $𝟰 𝟬𝟬𝟬/𝗼𝘇 level for the 𝗳𝗶𝗿𝘀𝘁 𝘁𝗶𝗺𝗲 – 𝘁𝗵𝗲 𝗺𝗲𝘁𝗮𝗹’𝘀 𝗽𝗿𝗶𝗰𝗲 is now up 𝟱𝟰% for the 𝘆𝗲𝗮𝗿 (see graph). At the 𝗵𝗲𝗮𝗿𝘁 of the 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 is investment 𝗱𝗲𝗺𝗮𝗻𝗱 stemming from a confluence of 𝗴𝗲𝗼𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝗮𝗹 and 𝗲𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗳𝗮𝗰𝘁𝗼𝗿𝘀.
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𝗚𝟳 𝘀𝗮𝗻𝗰𝘁𝗶𝗼𝗻s and price caps hit 𝗥𝘂𝘀𝘀𝗶𝗮𝗻 𝗼𝗶𝗹 𝗿𝗲𝘃𝗲𝗻𝘂𝗲𝘀, but barrels are still 𝗳𝗹𝗼𝘄𝗶𝗻𝗴—mainly to 𝗖𝗵𝗶𝗻𝗮, 𝗜𝗻𝗱𝗶𝗮, and 𝗧𝘂𝗿𝗸𝗲𝘆. The market is adjusting, showing Russia remains a 𝗸𝗲𝘆 𝗽𝗹𝗮𝘆𝗲𝗿 despite 𝗪𝗲𝘀𝘁𝗲𝗿𝗻 𝗿𝗲𝘀𝘁𝗿𝗶𝗰𝘁𝗶𝗼𝗻𝘀.
𝗚𝟳 𝘀𝗮𝗻𝗰𝘁𝗶𝗼𝗻s and price caps hit 𝗥𝘂𝘀𝘀𝗶𝗮𝗻 𝗼𝗶𝗹 𝗿𝗲𝘃𝗲𝗻𝘂𝗲𝘀, but barrels are still 𝗳𝗹𝗼𝘄𝗶𝗻𝗴—mainly to 𝗖𝗵𝗶𝗻𝗮, 𝗜𝗻𝗱𝗶𝗮, and 𝗧𝘂𝗿𝗸𝗲𝘆. The market is adjusting, showing Russia remains a 𝗸𝗲𝘆 𝗽𝗹𝗮𝘆𝗲𝗿 despite 𝗪𝗲𝘀𝘁𝗲𝗿𝗻 𝗿𝗲𝘀𝘁𝗿𝗶𝗰𝘁𝗶𝗼𝗻𝘀.
𝗢𝗣𝗘𝗖 predicts 𝗿𝗶𝘀𝗶𝗻𝗴 𝗼𝗶𝗹 𝗱𝗲𝗺𝗮𝗻𝗱 through 𝟮𝟬𝟮𝟲, but 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 aren’t so sure. Analysts 𝘄𝗮𝗿𝗻 the outlook might be a bit 𝘁𝗼𝗼 𝗼𝗽𝘁𝗶𝗺𝗶𝘀𝘁𝗶𝗰, with peak demand 𝗹𝗼𝗼𝗺𝗶𝗻𝗴.
𝗢𝗣𝗘𝗖 predicts 𝗿𝗶𝘀𝗶𝗻𝗴 𝗼𝗶𝗹 𝗱𝗲𝗺𝗮𝗻𝗱 through 𝟮𝟬𝟮𝟲, but 𝗺𝗮𝗿𝗸𝗲𝘁𝘀 aren’t so sure. Analysts 𝘄𝗮𝗿𝗻 the outlook might be a bit 𝘁𝗼𝗼 𝗼𝗽𝘁𝗶𝗺𝗶𝘀𝘁𝗶𝗰, with peak demand 𝗹𝗼𝗼𝗺𝗶𝗻𝗴.
If 𝗢𝗣𝗘𝗖+ ramps up 𝘀𝘂𝗽𝗽𝗹𝘆, it’s all about 𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝗵𝗮𝗿𝗲. With low production costs and state-owned 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝘀, higher 𝘃𝗼𝗹𝘂𝗺𝗲𝘀 could keep 𝗽𝗿𝗶𝗰𝗲𝘀 𝗱𝗼𝘄𝗻 and shake up 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗼𝗶𝗹 𝗽𝗿𝗼𝗱𝘂𝗰𝗲𝗿𝘀.
If 𝗢𝗣𝗘𝗖+ ramps up 𝘀𝘂𝗽𝗽𝗹𝘆, it’s all about 𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝗵𝗮𝗿𝗲. With low production costs and state-owned 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝘀, higher 𝘃𝗼𝗹𝘂𝗺𝗲𝘀 could keep 𝗽𝗿𝗶𝗰𝗲𝘀 𝗱𝗼𝘄𝗻 and shake up 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗼𝗶𝗹 𝗽𝗿𝗼𝗱𝘂𝗰𝗲𝗿𝘀.
As whispers of a possible 𝟱𝟬𝟬,𝟬𝟬𝟬 𝗯𝗮𝗿𝗿𝗲𝗹𝘀 𝗽𝗲𝗿 𝗱𝗮𝘆 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 from 𝗢𝗣𝗘𝗖+ circulate, the market is 𝗮𝗯𝘂𝘇𝘇 with 𝘀𝗽𝗲𝗰𝘂𝗹𝗮𝘁𝗶𝗼𝗻.
As whispers of a possible 𝟱𝟬𝟬,𝟬𝟬𝟬 𝗯𝗮𝗿𝗿𝗲𝗹𝘀 𝗽𝗲𝗿 𝗱𝗮𝘆 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 from 𝗢𝗣𝗘𝗖+ circulate, the market is 𝗮𝗯𝘂𝘇𝘇 with 𝘀𝗽𝗲𝗰𝘂𝗹𝗮𝘁𝗶𝗼𝗻.
Our analyst 𝗩𝗶𝗻𝗲𝘀𝗵 𝗖𝗵𝗲𝘁𝘁𝘆 breaks down the latest on Brent crude: prices dip to $𝟲𝟱/𝗯𝗮𝗿𝗿𝗲𝗹 as seasonal demand drops and 𝗢𝗣𝗘𝗖+ adds more supply.
Our analyst 𝗩𝗶𝗻𝗲𝘀𝗵 𝗖𝗵𝗲𝘁𝘁𝘆 breaks down the latest on Brent crude: prices dip to $𝟲𝟱/𝗯𝗮𝗿𝗿𝗲𝗹 as seasonal demand drops and 𝗢𝗣𝗘𝗖+ adds more supply.
South African 95 octane petrol prices increased by 8c/l from Wednesday 1 October, although there was some relief for diesel (0.05% sulphur) consumers, with prices down 8c/l. A further decrease could be on the cards for November.
South African 95 octane petrol prices increased by 8c/l from Wednesday 1 October, although there was some relief for diesel (0.05% sulphur) consumers, with prices down 8c/l. A further decrease could be on the cards for November.
Australia has urged China to allow iron ore exports to continue without disruption following reports that China Mineral Resources Group, the state-owned buyer, instructed steelmakers to pause purchases of BHP shipments.
Australia has urged China to allow iron ore exports to continue without disruption following reports that China Mineral Resources Group, the state-owned buyer, instructed steelmakers to pause purchases of BHP shipments.