02072016Sun
Last update: Sun, 07 Feb 2016 01am

Markets - Commodities

Markets - Commodities - Europe

Copper slides, spooked by weak China manufacturing data LONDON: Copper slipped on Monday alongside Chinese equities on news the country's manufacturing sector shrank at the fastest in more than three years, reinforcing fears of weaker demand in the top consumer of industrial metals.Benchmark copper on the London Metal Exchange ended down $4,560 a tonne from $4,561 at the close on Friday. The metal used in power and construction earlier touched a session low of $4,496.50.China's official Purchasing Managers' Index (PMI) fell to 49.4 in January from 49.7 in December. It is the weakest reading since August 2012 and marks the sixth consecutive month of contraction.The Shanghai Composite Index eased 1.8 percent, while the CSI300 index of the largest listed companies in Shanghai and Shenzhen lost 1.5 percent."After the Chinese PMI data it's not surprising to see copper and other industrial metals and China equities under pressure," said Commerzbank analyst Eugen Weinberg."The market is very much driven by sentiment ...

Markets - Commodities - Americas

Cocoa jumps 4pc on Ivorian weather concerns, sugar pivots lower NEW YORK/LONDON: Cocoa futures soared 4 percent in heavy volume on Monday, in a corrective rally spurred by crop weather concerns in top grower Ivory Coast and oversold market conditions, causing the New York market to make its biggest jump in 3-1/2 years.Raw sugar fell sharply to a four-month low on weak charts, after a mid-session rally stalled, while coffee prices were mixed.March New York cocoa settled up $107, or 3.9 percent, at $2,868 per ...

Markets - Commodities - Americas

Wheat falls on ample global supplies; corn, soy also sag CHICAGO: US wheat futures fell on Monday amid plentiful global inventories and poor export demand for US supplies, traders said.Corn and soybeans also fell as macroeconomic worries hung over the market and on some forecasts for much-needed rains in Argentina next week.At the CBOT as of 12:55 p.m. CST (1855 GMT), March wheat was down 7 cents at $4.72-1/4 per bushel.March corn was last down 2-1/4 cents at $3.74-1/2 per bushel and March soybeans were ...

Markets - Commodities - Americas

Gold climbs to 3-month high on weak economic data, dollar NEW YORK/LONDON: Gold rose to a three-month high on Monday, extending its recent rally on worries about global economic growth and hopes for easier monetary policy after weak factory data in Asia and Europe.China's official measure of manufacturing in January fell to the lowest since mid-2012, while factory growth across the euro zone slowed."That China data was disappointing, very weak in both manufacturing and non-manufacturing, which coupled with the ongoing turmoil on global markets and ...

Markets - Commodities - Asia

China govt has not yet decided on tin stockpiling -Yunnan Tin HONG KONG: Major tin producers in China and the industry body, China Nonferrous Metals Industry Association, are still asking the government to stockpile the metal and so far there has been no decision, a spokesman of the biggest producer Yunnan Tin Co Ltd said on Monday.Last month, nine producers proposed the government boost state stockpiling of tin, saying prices had fallen too far to reflect industry fundamentals.Copyright Reuters, 2016

Markets - Commodities - Asia

Gold extends gains as China stocks slip on weak PMI MANILA: Gold advanced at the start of the month on Monday, extending gains after ending January with its biggest monthly jump in a year, as poor Chinese manufacturing numbers underlined the weak outlook for the global economy.China's stocks fell after an official measure of manufacturing in the world's No. 2 economy hit its lowest since mid-2012.Inflows into the world's largest gold-backed exchange-traded fund were the strongest in a year last month as investors moved into ...

Markets - Commodities - Asia

Indian sugar mills lined up to sell 1 mn tonnes: trade body DUBAI: Indian sugar mills have been contracted to sell one million tonnes of sugar in the 2015/2016 season and another million tonnes are expected to be lined up, the president of an industry body said on Monday."One million tonnes have been contracted and another one million tonnes will be contracted," Tarun Sawhney, President of the Indian Sugar Mills Association told a conference in Dubai.Sawhney also said domestic sugar production would reach 26 million tonnes in ...