Pakistan Commodities_Surging dollar sends commodities lower, (AKD Daily, Sep 27, 2022)
Surging dollar sends commodities lower
Overall, WTI and Brent have fallen from their respective multi-year highs, down 38% and
37% respectively, still long-run fundamentals suggest that recent crude sell-off may be
relatively short-lived.
Global prices of diesel and petrol continue to fall sharply, down 43% and 34% respectively
from peaks in June’22, majorly due to rising concerns of a global recession emanating
from Western/European front, to stand at $US84/115 per bbl. for Gasoline/Gasoil respectively
Richards Bay coal prices have remained lower in Sep’22, currently hovering around
US$293/ton compared to FYTD/CYTD avg. of US$326/292/ton. Moreover, Tanzania and
Bostwana are also getting a lot of interest from European buyers as coal-based supplies
are gaining traction amidst higher natural gas prices.
International scrap prices have declined 8%MoM in Sep’22 and are currently hover
around US$360/ton compared to FYTD/CYTD avg. of US$383/480/ton. However, the decline
in scrap prices has been largely offset by rising energy costs for Electric Arc Furnace
producers across the globe.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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