Latest news with #supplydemand
CTV News
6 days ago
- Business
- CTV News
As real estate market across Canada sees ‘gradual recovery' prices in Ontario will remain ‘under pressure:' report
The Toronto Real Estate Board reported the highest number of home sales for the month of July since 2021 last week. Canada's housing market is likely to continue a 'gradual recovery' in the second half of the year but a glut of listings in Ontario and British Columbia will likely 'keep prices under pressure' in those markets until 2026, a new report from RBC suggests. RBC's report says that 'supply-demand conditions have shifted in buyers' favour,' in Ontario. The province has more homes for sale than it has since June 2010. The report suggests that Ontario's large inventory and competition among sellers will cause prices to drop at steeper rates than other provinces before the market begins to 'stabilize' in early 2026. In contrast, Ontario and B.C. will continue to face challenges with 'imbalances in condo markets in Toronto and Vancouver likely spilling into other segments.' 'Prices will vary significantly across the country. Balanced supply-demand conditions in the Prairies, Quebec, and parts of Atlantic Canada are expected to support modest price gains in 2025 and 2026,' the report states. Condo conundrum continues The average selling price for a condominium in the GTA fell by 5.9 per cent in the second quarter to $685,961, data from the Toronto Regional Real Estate Board shows. A separate report from Urbanation, a real estate analysis firm, also showed that new condo sales were down 69 per cent last quarter after just 502 units changed hands. RBC highlighted the federal government's immigration cooldown saying it will 'primarily affect rental demand.' Immigrants generally rent for five to 10 years after entering Canada, the bank says, and without them rental demand will slump. Rental prices are already dropping according to a report from with one and two-bedroom rentals down 6.4 and 8.8 per cent from last year. Lower interest rates 'unlock pent-up demand' RBC says that lower interest rates 'have made homeownership the most affordable it's been in three years.' But in Ontario, with its high prices, affordability continues to be a challenge, the bank says. The Toronto Real Estate Board reported the highest number of home sales for the month of July since 2021 last week. The average selling price across all property types decreased 5.5 per cent year-over-year to $1,051,719. Prices, however, remain soft. 'Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales. More relief is required, particularly where borrowing costs are concerned, but it's clear that a growing number of households are finding affordable options for homeownership,' said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule. RBC is predicting that the Bank of Canada will keep its key lending rate at 2.75 per cent through 2026 which the report says is 'encouraging more buyers to act.' However, since the portion of household income needed to pay ownership costs remains 'well above pre-pandemic levels,' affordability will continue to be a challenge for Ontario. RBC said that unsold housing inventory has reached decade highs and that 'buyers now have more options and feel less urgency to act.' RBC is predicting Ontario home prices to decrease by one percent in 2025 and 1.4 per cent in 2026. It is anticipating a marginal increase in home prices nationally over the remainder of 2025 of 0.7 per cent.
Yahoo
7 days ago
- Business
- Yahoo
Micron Jumps After Raising Revenue Forecast
Micron raised its earnings outlook after a disappointing forecast in June, Bloomberg's Jake Silverman says high bandwidth memory is accounting for more of the company's revenue and contributing to a better supply-demand balance.
Yahoo
11-07-2025
- Business
- Yahoo
World oil market may be tighter than it looks, IEA says
By Alex Lawler VIENNA (Reuters) -The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency said on Friday, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialised countries, expects global supply to rise by 2.1 million barrels per day this year, up 300,000 bpd from the previous forecast. World demand will rise by just 700,000 bpd, it said, implying a sizeable surplus. Despite making those changes, the IEA said that rising refinery processing rates aimed at meeting summer travel and power-generation demand were tightening the market and the latest supply hike from OPEC+ announced on Saturday had not had much effect. "The decision by OPEC+ to further accelerate the unwinding of production cuts failed to move markets in a meaningful way given tighter fundamentals," the agency said in a monthly report. "Price indicators also point to a tighter physical oil market than suggested by the hefty surplus in our balances." Earlier this week, ministers and executives from OPEC nations and bosses of Western oil majors said the output increases are not leading to higher inventories, showing that markets are thirsty for more oil. Next year, the IEA sees demand growth averaging 720,000 bpd, some 20,000 bpd lower than previously thought, with supply growth rising by 1.3 million bpd, also implying a surplus. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
10-07-2025
- Business
- Globe and Mail
President Trump's Proposed Copper Tariffs are Unlocking a Unique Investment Opportunity
Copper prices are at record highs on President Trump's announcement that he will impose a 50% tariff on copper imports in an attempt to boost domestic production. That, in addition to a massive supply-demand imbalance is creating substantial opportunity for Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF), Freeport-McMoRan (NYSE: FCX), Southern Copper Corp. (NYSE: SCCO), Taseko Mines (NYSEAMERICAN: TGB) (TSX: TKO) and BHP Group (NYSE: BHP). In addition, copper inventories have been severely depleted, raising even more concerns about a global supply shortage outside of the United States. Plus, copper is experiencing historic backwardation, according to All thanks to falling copper inventories, and potential U.S. tariffs. 'Backwardation occurs when the price of a near-month contract is higher than that of a longer-term contract, an indication of tightening supply,' added All of which is creating an incredible opportunity for copper companies. Look at Troilus Gold Corp. (TSX: TLG) (OTCQX: CHXMF): A Copper-Gold Company in Québec Troilus Gold Corp. is advancing one of North America's largest undeveloped gold-copper deposits towards production. Positioning itself as a key future supplier of critical metals in a Tier 1 jurisdiction, they have defined an impressive M&I resource of 4.9 billion pounds of copper equivalent (or 11.2 million ounce of gold equivalent) at its property since they began drilling about five years ago. In another major step forward, the company just agreed to indicative commercial offtake terms with Boliden Commercial AB for the sale of copper-gold concentrate expected to be produced from the Company's Troilus Project in north-central Quebec, Canada. Boliden is a leading global base and precious metals company that operates seven mines and five smelters throughout Sweden, Finland, Norway, Ireland and Portugal. This agreement now marks Troilus Gold's second offtake agreement, following its agreement with Aurubis AG (see June 18, 2025, press release). Together, these partnerships further validate the quality of Troilus' anticipated concentrate and highlight the Project's strategic importance within the European critical minerals supply chain. The final binding offtake agreements with both Boliden and Aurubis are expected to be executed in connection with the completion of the Project's broader US$700 million debt financing package, announced on March 13, 2025. In addition, the company also just officially filed the Environmental and Social Impact Assessment for its flagship Troilus Copper-Gold Project with both the provincial and federal regulators, expecting approval for both by the end of 2026. Other related developments from around the markets include: Freeport-McMoRan reported first-quarter 2025 net income attributable to common stock of $352 million, $0.24 per share, and adjusted net income attributable to common stock of $358 million, $0.24 per share. Kathleen Quirk, President and CEO, said, 'Our team remains focused on providing metals essential for the economy and everyday life. Our work to produce our products and grow safely, efficiently and responsibly has never been more important. We remain vigilant in our efforts to reduce costs, improve efficiencies and carefully manage operating, administrative and capital spending in this uncertain macroeconomic environment. Freeport is well positioned for the future with large-scale production of copper, gold and molybdenum, a highly qualified and experienced team with a proven track record, a portfolio of attractive organic growth opportunities and a strong balance sheet and financial position.' Southern Copper's Chairman of the Board, German Larrea recently commented 'on the Company ´s progress and current circumstances, said: "This quarter, SCC's net earnings totaled $946 million, which represented a 29% jump in net earnings compared to 1Q24. This positive result was driven by higher sales and lower unit costs. Sales increased 20%, registering growth in sales volumes for copper (+4%), zinc (+42%), silver (+14%) and molybdenum (+10%). Over the period, we had better prices for copper (+11%), zinc (+16%) and precious metals (+38%). In addition to the good sales volumes and prices, the Company cash cost decreased from $1.07 to $0.77 per copper pound (-28%), driven by a drop in the operating cost and by growth in by-product revenues for molybdenum, silver and zinc. Recently, the copper market has been affected by instability, which has risen on the back of a shift in trade policies in the world's major economies. We believe SCC's commitment to balancing operational discipline and cost efficiency at current operations with our growth profile will allow us to weather short-term difficulties in coming months.' Taseko Mines reported first quarter 2025 Adjusted EBITDA of $34 million and Earnings from mining operations before depletion and amortization and non-recurring items of $39 million. Revenues for the first quarter were $139 million from the sale of 22 million pounds of copper and 364 thousand pounds of molybdenum. The Company recorded a Net loss of $29 million ($0.09 loss per share) and an Adjusted net loss* of $7 million ($0.02 loss per share). Gibraltar produced 20 million pounds of copper and 336 thousand pounds of molybdenum in the first quarter at Total operating costs (C1) of US$2.26 per pound of copper produced. Mill throughput averaged 87,800 tons per day, which was above design capacity. Copper grades in the quarter averaged 0.19% and copper recoveries were 68%. BHP Group will establish its first Industry AI Hub in Singapore to accelerate digital transformation and AI adoption in the mining and resources sector. The Hub will focus on solving BHP enterprise-wide challenges using AI technologies to improve safety and lift productivity. Once established this month, the hub of BHP AI specialists will look at further integration of data-driven decisions, intelligence and automation into the company's core operations. With the support of Enterprise Singapore, and in partnership with AI Singapore (AISG), BHP selected Singapore to further develop its AI capabilities for its vibrant innovation ecosystem, strong digital infrastructure and alignment with BHP's ambitions to scale technologies that deliver operational value. The Hub will support the growth of BHP's digital capabilities in Singapore and the region, with plans for a number of AI specialists to lead collaboration between BHP teams and local AI partners to solve business problems. Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Troilus Gold Corp by Troilus Gold Corp. We own ZERO shares of Troilus Gold click here for disclaimer. Contact:
Yahoo
07-07-2025
- Business
- Yahoo
Oil Prices Expected to Stay Under $70
Despite heightened tensions in the Middle East, oil prices are likely to remain capped below $70 per barrel for the rest of the year amid ample supply and uncertainties about demand. Unless actual supply disruptions occur in and around the hotspots in the Middle East, the price of oil will be a function of supply and demand, analysts and investment banks say. Growing supply from the OPEC+ group, although not as high as the monthly headline figure of 411,000 barrels per day (bpd) suggests, is set to create an oversupply on the market going into autumn, even if summer demand holds strong. On the demand side, peak summer travel season may justify higher supply, but lingering trade and economic uncertainties may cap upside to prices. As a result, most analysts expect oil prices to hover around the current levels in the mid-$60s per barrel and average below $70 a barrel for 2025. Currently, oil's 'normal' price would be in the $70s range, but the market oversupply is keeping prices in the $60s, Rob Thummel, senior portfolio manager of Tortoise Capital, told BNN Bloomberg this week. 'In order for oil prices to return to what we think is the $70s, kind of normal price, you need the market to really rebalance,' Thummel said. 'What that means is either oil production in other locations is going to fall, and, or effectively, demand for oil is probably going to rise more than what people expect in the second half of the year.' According to Ole Hansen, Head of Commodity Strategy at Saxo Bank, crude oil may face headwinds in the second half of the year amid rising output and economic growth concerns. 'OPEC8+ continues to ramp up production in an effort to punish overproducing quota cheaters, and to reclaim market share from higher-cost producers which may eventually have to dial down production amid lower price expectations,' Hansen said in a weekly commodities commentary. Major investment banks, including Goldman Sachs, Morgan Stanley, and JPMorgan, expect Brent crude prices to average $66.32 a barrel and WTI Crude to average $63.03 per barrel this year, according to a June survey by The Wall Street Journal. The responses in June were slightly higher compared to those in the May poll, but the analysts continue to see fundamentals as key for prices, and right now these fundamentals point to an oversupply amid uncertain economic prospects with the U.S. tariff policies. The Reuters survey of 40 analysts and economists in June also saw a slight increase in the price forecasts. Brent is seen averaging $67.86 per barrel in 2025, up from $66.98 a barrel expected in May. WTI is expected to average $64.51, up from $63.35 per barrel in May. However, analysts concur that the glut would cap rallies unless the Middle East conflict broadens and leads to more volatility and price spikes. In case an oversupply overwhelms the market if summer demand disappoints, OPEC+ is likely to act swiftly to put a floor under prices by pausing production increases. 'We expect OPEC+ to exert caution in raising production, even putting plans on hold indefinitely at the first signs that prices may fall significantly,' Matthew Sherwood, lead commodities analyst at EIU, told Reuters. Next week could remove some uncertainty over the global economy and oil demand as July 9 is the end of President Trump's 90-day pause on the so-called 'reciprocal' tariffs. 'We could see tariff increases reinstated on some US trading partners if trade deals are not concluded. This leaves a fair amount of uncertainty going into next week,' ING strategists Warren Patterson and Ewa Manthey wrote in a note on Thursday. The oil market is full of uncertainties, but current supply and demand balances point to an oversupply and subdued oil prices in the coming months, barring a supply disruption in the Middle East. By Tsvetana Paraskova for More Top Reads From this article on Sign in to access your portfolio
