Markets - Commodities
4 
NEW YORK: Cotton futures edged down on Wednesday to a three-week low, under pressure from spread-related dealings and forecasts of rains in Texas that could ease supply concerns in the top producing state in the United States, dealers said.The most-active July cotton contract on ICE Futures US fell 0.44 cent, or 0.5 percent, to settle at 83.42 cents per pound, down for a third straight session.Prices touched 83.32 cents a lb, the front-month contract's lowest price since May 2.The December contract on ICE, which represents the new crop, closed up 0.24 cent, or 0.3 percent, at 84.39 cents a lb.The December/July spread widened to 0.97 cent, up from 0.29 cent the previous session. December moved into a premium against July on Tuesday for the first time in almost two weeks."We're seeing some increased spread trading that's putting some carry back into the market," said Peter Egli, director of risk management ...
LONDON: Gold rose on Wednesday as the dollar fell after Federal Reserve officials allayed investor concerns that the US central bank would soon reduce its bond-buying programme, while Chinese physical demand also lent some support to prices.On Tuesday, New York Federal Reserve Bank President William Dudley and St. Louis Fed chief James Bullard said that further economic progress was needed before they would support curtailing bond purchases.Spot gold reversed Tuesday's 1.3 percent losses and rose ...
SINGAPORE: Spot iron ore prices climbed off their lowest level for the year after a higher-than-expected sale of an Australian cargo suggested demand from Chinese mills may be picking up, although a soft steel market could limit further gains.Shanghai rebar futures steadied on Wednesday after plumbing eight-month lows last week, struggling to rebound with demand in top consumer China curbed by a tepid economic recovery.Benchmark 62-percent grade iron ore rose half a percent to $123.60 ...
SINGAPORE: London copper held near a two week-high on Wednesday, supported by indications the US Federal Reserve would continue its bond-buying scheme, a key driver of investment in global commodities.Concerns that the world's No.2 copper mine in Indonesia, Freeport McMoRan Copper & Gold Inc's Grasberg mine, could face a prolonged closure after one of the country's worst-ever mining disasters also supported prices."Fundamentally, the supply side is strong enough to stabilise copper, but not strong enough ...
MUMBAI: Indian sugar futures fell on Wednesday on profit-taking from their highest level in more than two months, although rising demand from bulk buyers and concerns over production in 2013/14 due to lower acreage limited the downside.The key June contract on the National Commodity and Derivatives Exchange was down 0.61 percent at 3,077 rupees ($55.66) per 100 kg at 0753 GMT, after rising to 3,104 rupees in the previous session, the highest level since March ...
NEW DELHI: India's cable makers face a severe shortage of copper and potential manufacturing delays after the closure of the country's two biggest copper smelters, which has pushed up prices and led to a spike in imports.India's biggest smelter, owned by Sterlite Industries , was shut on March 30 after local residents complained of emissions that led to breathing difficulties, forcing top copper users to rely on rival Hindalco Industries for almost all their copper ...More Articles...
| |||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||
