Nasdaq Commodities

In trading on Friday, shares of Alpha Metallurgical Resources Inc (Symbol: AMR) crossed below their 200 day moving average of $290.42, changing hands as low as $289.00 per share. Alpha Metallurgical Resources Inc shares are currently trading off about 3.3% on the day. The char

FXEmpire.com - Natural Gas Weekly Technical Analysis As I take a look at the natural gas markets on the weekly time frame, and well, we did it. We broke above the $2 level. We are showing a little bit of weakness on Friday, but overall, this has been a very strong week, and we co

FXEmpire.com - Natural Gas Technical Analysis You can see we initially did try to rally a bit during the trading session on Friday but gave back gains to show hesitation. That’s not a huge surprise considering how much momentum and energy has been expended to break out and above

FXEmpire.com - Futures Fluctuate Amid Mixed Signals Natural gas futures experienced fluctuations as the market grappled with mixed signals from recent developments in LNG operations and storage levels. Despite an uptick in Freeport LNG feed gas flows and a bullish report on stora

FXEmpire.com - Market Overview Oil prices are set to conclude the week with a 2% gain, bolstered by encouraging signs from China and a softening dollar, despite geopolitical

Magnesite, an industrial metal, plays a key role as a refractory material in steel fabrication, as a catalyst and filler in the production of synthetic rubber and as a material in the production of magnesium chemicals and fertilizers. The global magnesite market had an estimated value of US$12.37 billion in 2023, and is projected to reach US$14.9 billion in 2028 on rising demand from the construction, chemical, metallurgical and automotive industries.The US Geological Survey estimates that worldwide magnesite reserves stand at 7.7 billion metric tons (MT). Worldwide, magnesite production reached 22 million MT in 2023, mostly on par with the previous year.While Russia dominates in terms of magnesite reserves, China leads the world in magnesite production. Here the Investing News Network looks at the top countries for magnesite mining. 1. China Mine production: 13 million MTChina is the world's top country for magnesite mining by far, accounting for roughly 60 percent of worldwide output. The country's production saw no growth compared to last year's output. The Asian nation is also the principal exporter of the material to the US and many other markets across the globe. In 2023, China's magnesite exports to India grew by 9 percent due to increased demand for steel fabrication to supply the latter's infrastructure projects. China represents a major market for magnesite in its own right, accounting for about 65 percent of total global consumption. However, strict environmental regulations in the country have resulted in the closure of several key magnesite mines. 2. Turkey Mine production: 1.8 million MTNext is Turkey, whose magnesite output came to 1.8 million MT in 2023, just 20,000 MT fewer than it produced in 2022. Magnesite production in the country has significantly decreased in recent years, falling from 2.7 million MT in 2017.Turkey has a long history of magnesite mining, both for export and for use at domestic refractories. Akdeniz Mineral Resources, a joint venture with private company Grecian Magnesite, is a large producer and exporter of caustic calcined magnesite products. 3. Brazil Mine production: 1.7 million MTBrazil's magnesite production has remained relatively flat in recent years. A critical point in Brazil's magnesite industry came in 2017 with the merger of RHI of Austria and Magnesita Refratários of Brazil to form RHI Magnesita, which then became the world's largest refractory materials producer. RHI Magnesita is also reported to own the largest magnesite reserve outside of China. 5. Russia Mine production: 950,000 MTRussia's magnesite-mining output has dropped significantly in recent years, sinking from 1.5 million MT in 2020 to 950,000 MT in 2023. The country hosts the largest reserves of magnesite in the world, coming in at 2.3 billion MT.One of the key players in the Russian magnesite space is Magnezit Group, which is actively working to expand production capacity at its Kirgiteiskoye and Talskoye deposits by overhauling existing facilities and building new facilities. 5. Australia Mine production: 860,000 MTAustralia's magnesite production has risen steadily in the past few years, moving it up from near the bottom of the list of top magnesite-mining countries to the second spot in 2021 with 2.7 million MT. However, the nation recorded a dramatically-reduced magnesite-mining output of 860,000 MT in both 2022 and 2023. Private company Queensland Magnesia is responsible for the bulk of Australia's magnesite production. QMAG Pty Ltd, part of the Refratechnik group, is mining one of the world's largest magnesite mines, the Kunwarara deposit in central Queensland. An examples of a magnesite-focused junior mining companies operating in Australia is Lachlan Star (ASX:LSA) with its Princhester magnesite project also in Queensland. 6. Austria Mine production: 810,000 MTAustria's magnesite mining output has remained relatively flat in recent years, with levels in a range of 760,000 MT to 810,000 MT. Austrian magnesite producer Styromag operates five mines in the country; it produces roughly 120,000 MT of material per year."In January 2023, an Austria-based magnesia and refractories company acquired a leading refractory producer in China, allowing it to expand production in China and the east Asia region," reported the USGS. 7. Spain Mine production: 670,000 MTSpain's magnesite output has more than doubled since 2016, coming in at 670,000 MT in 2022. Spain's Magnesitas Navarras is a leading European magnesia producer. In early 2024, the company received government approval for a project that will allow it to operate a new mine in the Erdiz region for 25 years. 8. Slovakia Mine production: 510,000 MTSlovakia produced 510,000 MT of magnesite in 2023, a slight decrease of 2,000 MT versus what it produced a year earlier. Slovakian producer SLOVMAG is majority owned by Russia's Magnezit Group. It specializes in mining magnesite ore and producing refractory products from sintered magnesia. 9. Greece Mine production: 380,000 MTGreece produced 380,000 MT of magnesite in 2023, on par with the year before. The country is home to one of the top magnesia producers in the world, Grecian Magnesite, which has facilities in Spain, Turkey and the Netherlands. Greece's magnesite mines and production facilities are located in the Chalkidiki peninsula in Northern Greece.The Turkish subsidiary of the Greece-based magnesia producer is slated to construct a new rotary kiln in 2024, which the USGS says is expected to double "its current production capacity of caustic-calcined magnesia to around 50,000 tons per year." 10. Saudi Arabia Mine production: 340,000 MTRounding out the list, Saudi Arabia put out 340,000 MT of magnesite in 2023, displacing Iran for the tenth spot on this list. The country's major producer is Ma’aden Industrial Minerals Company which produces caustic calcined magnesite from its a high-grade magnesite mine at Al Ghazalah. Don't forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural gas triggered a bullish continuation today as it rallied above the prior trend high of 2.27. It is on track to possibly close above that price level and confirm the breakout. It will be a clearer sign of strength if it does close above 2.27. Resistance for

FXEmpire.com - Natural Gas Natural Gas 090524 Daily Chart Natural gas gains ground as traders react to the EIA report, which indicated that working gas in storage increased by 79 Bcf from the previous week, compared to analyst consensus of +87 Bcf.

FXEmpire.com - Gold Gold 090524 Daily Chart Gold gains ground as U.S. dollar declines after the Initial Jobless Claims report, which indicated that 231,000 Americans filed for unemployment benefits in a week.

FXEmpire.com - On May 9, 2024, EIA released its Weekly Natural Gas Storage Report. The report indicated that working gas in storage increased by 79 Bcf from the previous week, compared to analyst consensus of +87 Bcf.

FXEmpire.com - Natural Gas Technical Analysis We rallied a bit during the early hours on Thursday as we continue to dance around the $2 level in the natural gas markets. We have broken out of a massive consolidation rectangle, so it does make a certain amount of sense that we are

FXEmpire.com - U.S. Natural Gas Market Update U.S. natural gas prices are putting in a mixed performance on Thursday, with the market eyeing the upcoming Energy Information Administration (EIA) weekly storage report, due to be released at 14:30 GMT, expected to post an 87 billion

FXEmpire.com - Market Overview Oil prices increased slightly in Asian markets on Thursday after mixed trade data from China and as geopolitical tensions in the Middle East re

FXEmpire.com - Additional consolidation around this week’s high of 2.26 continues in natural gas today as it tests support around 2.17. The 2.17 price level was busted last week on the rally to the 38.2% Fibonacci retracement target zone and now is showing minor support. Further

FXEmpire.com - Natural Gas Natural Gas 080524 Daily Chart Natural gas pulls back as traders take some profits off the table after the recent rebound.

FXEmpire.com - Gold Gold 080524 Daily Chart Gold gains some ground as traders wait for catalysts. Treasury yields are moving higher, but this move does not put pressure on gold markets.

(RTTNews) - After reporting a sharp increase in U.S. crude oil inventories in the previous week, the Energy Information Administration released a report on Wednesday showing crude oil inventories pulled back in line with estimates in the week ended May 3rd.

FXEmpire.com - Natural Gas Technical Analysis Natural gas markets have probed a little bit higher during the early hours on Wednesday, but I do think that we are getting a bit stretched at this point. However, on a short-term pullback, we will have to wait and see whether or not

FXEmpire.com - US Natural Gas Futures Gain on Rising Demand and Supply Concerns U.S. natural gas futures climbed significantly on Wednesday, driven by robust investor interest and key market developments. The prices moved beyond the pivotal 50-day moving average to establish a ne

FXEmpire.com - Market Overview Oil prices decreased in early Asian trading on Wednesday due to growing U.S. crude and fuel inventories and weaker demand, which signal potenti