Coffee at a 14-Week Low, Sugar Coiling, KGHM’s 2055 Plan, Aluminium Cools

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This week scarcity showed up right where consumers feel it. US coffee stocks fell for a 14th straight week (−55.8% s/s), and while sugar looks soft on the FAO index, EU output is set to crash 15% on beet disease and drought: I explain why I think raw sugar breaks back above 16.00¢. On the metals side, KGHM laid out its “Strategy 2055+” (12bn PLN EBITDA, 730 kt copper a year), while aluminum handed back a third of its rally as Hormuz normalizes and a war-damaged smelter restarts.

I also dig into the gas contradictions (Russia is now the #4 LNG exporter despite an EU ban; Qatar’s force majeure possibly lasting five years) and the bigger current underneath it all: the widening China–US power gap, data centres, and the battery-storage boom.

Read the full breakdown on my Substack → [CLICK]

If you want my commodity and macro read every week before the move, that’s where I publish first.

Coffee at a 14-Week Low, Sugar Coiling, KGHM's 2055 Plan, Aluminium Cools