06272016Mon
Last update: Mon, 27 Jun 2016 04pm

Markets - Commodities

Markets - Commodities - Americas

Chile's Codelco to decide on partner for lithium development in 2017 SANTIAGO: The world's No. 1 copper producer Codelco is expected to make its decision on who to partner with to develop its lithium assets in the first quarter of next year, Chile's Mining Minister Aurora Williams told Reuters on Thursday.Lithium is an important ingredient in rechargeable batteries and is used in electric cars. Annual demand for lithium is forecast to more than double by 2020 from 95,000 tonnes now.Most lithium is produced in Australia and Chile, with the bulk of the world's reserves straddling huge salt flats in Chile, Bolivia and Argentina.At the beginning of the year Chile's government asked Codelco to study the production potential of its Maricunga and Pedernales salt flats.With the study in hand "Codelco will be able to have a business model and look for a partner in the first quarter next year, which in practice will allow it to develop Maricunga and/or Pedernales," said Williams. ...

Markets - Commodities - Middle East & Africa

Egypt rejects US wheat shipment, ergot decree delayed ABU DHABI: Egypt's agricultural quarantine authority rejected a 33,000-tonne US wheat shipment for containing trace levels of the common grain fungus ergot, government documents showed. Documents from the ministries of health and agriculture seen by Reuters show the shipment contained an 0.006 percent level of ergot, well below the commonly accepted international standard of 0.05 percent that Egypt's prime minister said on Tuesday his country adopts. The shipment received its first rejection on June 12, ...

Markets - Commodities - Asia

Indian soybean futures drop on monsoon progress NEW DELHI: Indian soybean futures dropped on Thursday on hopes of higher output as monsoon rains covered almost the entire country, narrowing the deficit since the season started on June 8. The July soybean contract on the National Commodity & Derivatives Exchange ended down 0.94 percent at 3,812 rupees ($56.65) per 100 kg. Monsoon rains have remained 18 percent lower than average since June 8, but have made steady progress and helped quicken the planting ...

Markets - Commodities - Middle East & Africa

Zimbabwe to import 250,000 tonnes of maize from Mexico HARARE: Drought-hit Zimbabwean will import more than 250,000 tonnes of maize from Mexico to fill the shortfall caused by the severe drought sweeping through the southern Africa, the agriculture minister said on Thursday. Joseph Made said Zimbabwe would also import the staple crop from neighbours South Africa and Zambia, as well as from the Ukraine but did not give precise figures for these imports. Copyright Reuters, 2016

Markets - Commodities - Americas

CBOT Trends-Wheat up 1-2 cents, corn down 4-6, soybeans down 6-11 CHICAGO: Following are US trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Thursday. NOTE: Friday is the last trading day for CBOT July options. WHEAT - Up 1 to 2 cents per bushel Higher on short-covering and bargain buying after recent declines, with spot K.C. hard red winter wheat hovering near a 10-year low. Weaker dollar lends support, making ...

Markets - Commodities - Europe

Arabica coffee firms; London cocoa down on stronger pound LONDON: Arabica coffee on ICE firmed in technically driven dealings on Thursday, supported by a weaker dollar, while a stronger pound weighed on London cocoa.Raw sugar futures dipped as harvest weather conditions improved and port congestion eased in centre-south Brazil.Upside in arabica coffee was capped by an ample harvest now under way in top grower Brazil."If you look at the Brazilian (output) numbers, they're huge, but there is a big problem on the quality side ...

Markets - Commodities - Europe

Russia's Mechel Q1 steel output down 6 pct, coal up 3pc y/y MOSCOW: Russian coal and steel producer Mechel said on Thursday its first-quarter steel output fell 6 percent, while coal production rose 3 percent compared with the same period a year ago. Mechel, controlled by businessman Igor Zyuzin, said steel output reached 1.0 million tonnes, while coal production was at 5.7 million tonnes. Copyright Reuters, 2016