Nickel extended gains after surpassing $18,000 a metric ton for the first time in more than a year as the threat of sanctions against Russia and Indonesia’s ore export ban continued to stoke supply concerns.
China may stockpile more medium-to- heavy rare earths this year as the nation prepares to contest a World Trade Organization ruling against its export controls, said Peng Bo, an analyst at Huachuang Securities Co.
Gold demand in China, which overtook India as the largest user last year, will rise about 25 percent in the next four years as an increasing population gets wealthier, according to the World Gold Council.
Chinese soybean importers may default on as much as two million metric tons of shipments as some fail to obtain credit from banks to make planned purchases, according to the U.S. Soybean Export Council’s Beijing office.