FAQs

• Weather and cost of production have the biggest impact on nut supply.
• Nuts are seasonal crops, where new supply comes to market generally twice a year; one season for the northern hemisphere, one for the southern hemisphere.
• Tree nuts specifically are permanent crops – supply cannot be ramped up quickly, and is expensive to ramp down.

Steel is generally traded through long-term contracts, spot markets, and, increasingly, on commodities exchanges—such as the Shanghai Futures Exchange (SHFE) and the London Metal Exchange (LME)—using steel futures or options.

Steel prices can change quickly due to shifts in raw material prices, government policies, demand fluctuations (especially from the construction and automotive sectors), and global supply disruptions.

Key influences include:

• Raw material costs (iron ore, coking coal, scrap)
• Global economic conditions and construction activity
• Supply and demand fundamentals
• Trade policies (tariffs, quotas)
• Energy costs
• Environmental regulations

• Hot-rolled coil (HRC)
• Cold-rolled coil (CRC)
• Rebar
• Steel billets
• Wire rod
• Stainless steel

Aluminum prices can be highly volatile because of energy cost swings, supply chain disruptions, global trade developments, and shifts in industrial demand.

Recycled aluminum requires up to 95% less energy to produce than primary aluminum and represents a significant portion of total supply, helping to temper price and environmental impacts.

• Key factors include:

  • Global economic growth and industrial activity
  • Supply disruptions (strikes, energy shortages, sanctions)
  • Energy costs (aluminum production is energy-intensive)
  • Exchange inventories
  • Currency fluctuations (especially USD/CNY rates)
  • Trade tariffs and policies

Aluminum is traded in the form of ingots, billets, or primary aluminum on commodity exchanges, mainly the London Metal Exchange (LME), as well as regionally on the Shanghai Futures Exchange (SHFE) and the Chicago Mercantile Exchange (CME).

Aluminum is vital for industries such as:

• Aerospace and aviation
• Construction
• Packaging (cans and foil)
• Automotive and transportation
• Electrical applications

Copper prices are typically quoted in US dollars per metric ton (LME) or per pound (COMEX).

• Producers: Chile (largest), Peru, China, Democratic Republic of Congo, United States
• Consumers: China (by far the largest), United States, Germany, Japan

Key drivers include:

• Global economic growth and industrial demand (especially from construction and electronics)
• Supply disruptions (strikes, mine closures, geopolitical events)
• Inventory levels at major exchanges
• Currency fluctuations (especially the USD)
• Technological developments (electric vehicles, renewable energy)

In most international markets, wheat prices are quoted per metric ton or per bushel – commonly in US dollars.

As an agricultural product, wheat prices are sensitive to unpredictable factors like weather, geopolitics, supply disruptions, and sudden changes in demand.

Wheat prices are affected by:

• Weather events (drought, floods, frost)
• Global supply and demand
• Crop diseases and pests
• Government policies and trade restrictions
• Currency fluctuations
• Energy and transportation costs

Major types include:

• Hard Red Winter (HRW) Wheat
• Soft Red Winter (SRW) Wheat
• Hard Red Spring (HRS) Wheat
• Durum Wheat
• Soft White Wheat

Weight and application. The female gender (hen) tends to be package for retail sale as a whole bird, bone in breast and parts. The male gender (tom) tends to be cut up or deboned for meats and parts destined for grinding or further processing.

Either pack is acceptable, and for the most part priced similarly until extenuating circumstances prevail.

Delivered.

Small= This size product is normally marketed bone-in into fast food and food service sectors

Medium= This size product is normally marketed into the retail grocery sector

Large/Jumbo= This size product is normally marketed either into the retail grocery sector in tray pack and IQF form or is further processed

Expana will be launching a “Value Added” report which will include observations of party wing pricing

Key price discovery platforms and exchanges include:

• Global Dairy Trade (GDT) auction (New Zealand)
• Chicago Mercantile Exchange (CME) (USA) for butter, cheese, and milk futures
• European Energy Exchange (EEX) (Europe) for European dairy products

The main globally traded dairy commodities are:

• Skimmed Milk Powder (SMP)
• Whole Milk Powder (WMP)
• Butter
• Cheese
• Whey powder