By admin 
MARKET MOVEMENTS:
–Brent crude oil is up 0.9% at $74.06 a barrel.
–European benchmark gas is up 0.8% at 43.15 euros a megawatt-hour.
–Gold futures are down 0.8% at $2,687.00 a troy ounce.
–LME three-month copper futures are up 0.25% at $9,096.00 a metric ton.
TOP STORY:
The Solar Power Enthusiasts Importing Their Own Equipment From China
Fed up with high price quotes from solar companies, some homeowners are DIY-ing their transition to solar power. That can include buying their own components – and, in some cases, even working as a one-person importer, ordering panels and other equipment from China and greeting the shipments at U.S. ports.
After soliciting quotes from solar companies for a panel system at his upstate New York home, Nachshon Peleg grew frustrated with prices he thought were too high. That’s how he found himself renting a 20-foot U-Haul truck and driving to a port in Elizabeth, New Jersey, to receive a 5,500-pound shipment of solar-panel trackers directly from a seller in China.
The equipment had been loaded into a shipping container, hauled across the ocean, and unloaded into a warehouse by a logistics company. After completing some customs paperwork including tariff payments, Peleg waited while a forklift loaded the trackers – which move to orient solar panels towards the sun – onto his truck, then drove them the last hundred-plus miles to his home.
OTHER STORIES:
Iberdrola to Sell Stake in German Wind Farm For $157 Mln to Japan’s Kansai Electric
Iberdrola agreed to sell a 49% stake in its Windanker offshore wind project for around 150 million euros ($157 million) to Japan’s Kansai Electric Power.
The Spanish energy giant said late Thursday that the transaction values the entire Windanker enterprise at around 1.28 billion euros, without providing details on the calculation.
—
Canada to Consider Export Tax on Commodities as Part of Trump Tariff Response
The Canadian government is weighing an export tax on certain commodities to the U.S. if President-elect Donald Trump fulfills his pledge of slapping a 25% tariff on all Canadian imports, according to a person familiar with the matter.
Among the commodities that could be affected are energy products, most notably crude oil, potash and uranium, but no final decision has been made, the person said. Nearly all crude oil exported from Canada is bound for the U.S.
—
Pinnacle West Capital’s Guldner to Step Down as CEO
Pinnacle West Capital said that Jeffrey Guldner is stepping down as the company’s chief executive and chairman of the board on March 31 .
The utility holding company on Thursday said that it named Theodore Geisler replace Guldner as chairman, president and CEO, following a succession planning process.
—
Shares in Tullow Oil Drop on Early Takeover Talks With U.S. Rival
Shares in Tullow Oil dropped Friday after it said it is in preliminary talks regarding an all-share takeover of the company by its larger U.S. peer Kosmos Energy.
Tullow Oil traded 8.5% lower at 23.94 pence in early trading in London, widening the loss this year to 38%.
MARKET TALKS:
Gold Price Action to Be Driven by U.S. Interest Rates, BMI Says — Market Talk
1044 GMT – The size and number of U.S. rate cuts will be one of the main drivers of gold price action in the coming months, according to analysts at BMI. “With Trump’s victory, the resilience of the U.S. economy in 2025, combined with the potential for higher inflation via tariffs, will likely see the Fed take a more cautious approach to interest rate cuts,” the analysts say. “The larger and more frequent the rate cuts, the greater the upward pressure on gold prices due to its nonyielding characteristic.” Fitch’s research unit says prices are expected to be supported in the coming months, averaging $2,500 a troy ounce next year, but further upside is likely to be limited. Gold futures trade 0.7% lower at $2,689.30 a troy ounce, while spot gold is down 1.4% at $2,680.83/oz. ([email protected])
—
Palm Oil Edges Lower Amid Range-Bound Trading — Market Talk
1038 GMT – Palm oil ended lower amid range-bound trading as investors awaited further signals to determine its next direction, Phillip Nova says in a research note. It pegged palm oil’s support level at 4,860 ringgit and resistance at 4,980 ringgit. Production has entered the low season, supporting the vegetable oil’s prices, Galaxy Futures says in a note. But high prices have undermined demand for the commodity, it adds. The Bursa Malaysia Derivatives contract for February delivery dropped by MYR17 to MYR4,904 a ton. ([email protected])
—
Metals Face Volatile 2025 Amid Dollar Strength, U.S. Policy Shifts — Market Talk
1003 GMT – Metal prices are poised for volatility next year, pressured by projected dollar strength and policy changes under President-elect Donald Trump, according to market watchers. “A potential deceleration in energy transition amid Trump’s policy shifts might dampen, to some extent, the ‘green sentiment’ that bolstered prices in 2024, most notably for copper,” BMI analysts say. The sector’s outlook remains contingent on China’s economic momentum, with traders waiting for the effects of Beijing’s stimulus measures. “Any sustained pick up in metals prices will depend on the strength and speed of the rollout of the measures,” ING says. LME three-month copper trades 0.2% higher at $9,082 a metric ton, while aluminum falls 0.1% to $2,602 a ton. ([email protected])
—
Gold Slides on Stronger Dollar Ahead of Fed Meeting — Market Talk
0907 GMT – Gold prices fall 0.5% in early European trade, pressured by a stronger U.S. dollar ahead of the Fed’s monetary policy meeting next week. Futures fall to $2,695.30 a troy ounce after tumbling more than 1% in the previous session, as traders assess the latest U.S. inflation data. Markets are still widely expecting a 25-basis-point rate cut in December, but a stronger producer price index for November increased risks of a Fed pause in early 2025, according to analysts. Still, gold is on track for weekly gains as elevated geopolitical tensions in Eastern Europe and the Middle East spur safe-haven demand. “The main question for the gold market now is the pace at which the Fed will ease its policy following Donald Trump’s win in the U.S. presidential election,” ING analysts say. ([email protected])
—
Oil Headed for Weekly Gains as Sanctions Outlook Raises Supply Worries — Market Talk
0843 GMT – Oil prices are on track for weekly gains as prospects of tighter sanctions against Russia and Iran raise market concerns over supply disruptions. Brent crude and WTI are both up 0.2% at $73.57 and $70.20 a barrel, respectively. The benchmarks are up between 3% and 4% on the week, boosted by Treasury Secretary Janet Yellen saying the U.S. is looking for ways to curb Russia’s revenue, and Trump’s national security pick vowing a return to maximum pressure on Iran. Prices also find support in China’s pledge to adopt a moderately loose monetary policy and political turmoil in the Middle East. Still, futures remain in a tight range despite OPEC+’s decision to delay a planned output hike, with the IEA saying that global markets still face a supply glut next year. ([email protected])
—
Rio Tinto’s Lithium Strategy Taking Shape — Market Talk
0242 GMT – Rio Tinto’s lithium strategy continues to take shape, says RBC Capital Markets analyst Kaan Peker, as the miner approves US$2.5 billion for its Rincon project. Still, RBC is yet to include Rincon in its valuation of Rio Tinto. “Given the novel nature of technology, we will wait for the starter plant to achieve nameplate production sustainably and achieve battery-grade production,” Peker says. RBC has a sector perform rating and a target price of A$123.00 on the stock, which is down 2.9% in Sydney at A$120.56. ([email protected]; @RhiannonHoyle)
—
Iron Ore Drops Amid Weak Fundamentals — Market Talk
0232 GMT – Iron ore prices are lower in early Asian trade amid weak fundamentals. Chinese steel mills have started seasonal production cuts and are cautious about replenishing stocks, Nanhua Futures analysts say in a research note. Iron ore gained in recent sessions on China’s stimulus pledges, but its fundamentals have not improved amid high stockpiles, Baocheng Futures says. Investors should be cautious as the ferrous metal lacks of sustainable upward momentum, Baocheng adds. The most-traded iron ore contract on the Dalian Commodity Exchange is down 1.24% at CNY796.0 a ton. ([email protected])
—
Uranium Failed to Ignite in 2024. Next Year is Unlikely to be Different — Market Talk
0229 GMT – There are few reasons to believe uranium prices can rise in the near term, says UBS analyst Dim Ariyasinghe. This year “was a false dawn for the uranium market with the spot uranium price down 15% [year-to-date] as buyers remain on the sidelines and still without urgency to procure near-term,” Ariyasinghe says. UBS is positive on uranium in the medium and long term, but “we are less convinced that supply-demand impulse shifts materially in the immediate future,” he says. UBS cuts its 2025 price forecast by 9% to $78/pound, and its 2026 projection by 6% to $80/pound. ([email protected]; @RhiannonHoyle)
Write to Barcelona Editors at [email protected]
(END) Dow Jones Newswires
12-13-24 0719ET