06292016Wed
Last update: Wed, 29 Jun 2016 12pm

Markets - Commodities

Markets - Commodities - Europe

Strong whites demand buoys sugar refining premium LONDON: Sugar refining margins have surged on tighter supplies in whites than raws as well as buoyant demand in key markets such as China and northeast Africa.Traders on Tuesday quoted the premium of August white sugar over July raw sugar at $112-113 per tonne, a very comfortable level of profitability of raw sugar refining, compared with just under $100 per tonne in early June. "There are more shortages in whites than in raws, especially going into next year," one senior trader said. Another trade source said, "There is a fundamental tightness in white sugar through the end of the calendar year." Traders said an Indian sugar export tax had effectively removed offers of Indian white sugar on the world market, and that availability of Thai and Central American supplies was tight, underpinning the whites premium. "We're less likely to see Indian exports, which confirms the tight outlook for whites," the ...

Markets - Commodities - Europe

Gold slips as investors cash in gains from Brexit vote LONDON: Gold fell more than 1 percent on Tuesday as buyers cashed in gains from the biggest two-day rally since late 2008 after Britain's voted last week to quit the European Union.The metal jumped to its highest in more than two years at $1,358.20 an ounce on Friday after the referendum on EU membership, and to more than three-year highs in euro and sterling terms, but quickly retreated from that peak.Spot gold was down 1.2 ...

Markets - Commodities - Europe

Sugar rallies, robusta coffee firms on supply concerns LONDON: Raw sugar futures on ICE rallied on Tuesday, supported by a shift of the market into a deficit, while coffee rose, buoyed by a weaker dollar and expectations of a slowdown of Vietnamese robusta supplies to the world market.Sterling-based London cocoa steadied, pressured by a recovery of the pound after its slide to a 31-year low following Britain's vote to leave the EU.Raw sugar futures rose, buoyed by a tight supply outlook."We're back towards ...

Markets - Commodities - Europe

Copper hits 7-week high, stimulus hopes and soft dollar help LONDON: Copper prices climbed to their highest in more than seven weeks on Tuesday, boosted by growing expectations of monetary stimulus and a weaker dollar, but worries about demand in top consumer China are expected to limit gains. Traders said copper was taking its cue from equity markets and oil, which have bounced after clocking up large losses in the aftermath of the British vote to leave the European Union. Talk the US Federal Reserve ...

Markets - Commodities - Asia

India's coal imports fell 5pc in April-May NEW DELHI: India's annual coal imports fell by about 5 percent in April-May to 35.85 million tonnes on increased local production, Coal Secretary Anil Swarup said in a Twitter post. The country imported 37.72 million tonnes in April-May 2015, he said. The government saved 42.85 billion rupees ($631.21 million) equivalent of foreign exchange due to the lower imports in the first two months of the fiscal year to March 2017, Swarup said.Copyright Reuters, 2016

Markets - Commodities - Asia

TOCOM edges down in thin trade; Brexit worries continue TOKYO: Benchmark Tokyo rubber futures edged down in thin trade on Tuesday as an overnight slide in oil prices hurt market sentiment and investors continued to digest the implications of Britain's vote to leave the European Union.However, the losses were capped as crude futures rebounded on Tuesday as a looming strike in Norway threatened to cut output in western Europe's biggest producer.Crude prices tumbled nearly 3 percent on Monday, with Brent hitting seven-week lows, as ...

Markets - Commodities - Europe

Gold slips as investors cash in post-Brexit vote gains LONDON: Gold fell 1 percent on Tuesday as buyers cashed in gains from the metal's biggest two-day rally since late 2008, made in the wake of Britain's shock vote to quit the European Union last week.The metal jumped to its highest in more than two years at $1,358.20 an ounce on Friday after the referendum on EU membership, and to more than three-year highs in euro and sterling terms. It quickly retreated from that peak, ...