07022016Sat
Last update: Sat, 02 Jul 2016 12pm

Markets - Commodities

Markets - Commodities - Asia

Brent holds above $59, up more than 3pc on week BEIJING: Benchmark Brent crude held above $59 in Asia on Friday, up more than 3 percent this week as news of deeper industry spending cuts and a sinking US dollar revived buying.Brent crude for April delivery was trading up 48 cents at $59.76.March Brent futures, which expired overnight, rose more than 4 percent to $57.05 on Thursday, following a 3-percent loss in the previous day's session.US crude futures were up 55 cents at $51.76, following similar swings earlier in the week."Brent April 15 seem to be trending very near to the resistance of $60.40 suggesting that it would more likely trend downwards as prices consolidate after yesterday's rise," Daniel Ang of Phillip Futures in Singapore wrote in a note.Wang Tao, a market analyst at Reuters, said Brent would test resistance at $63.40.Preliminary quarterly gross domestic product (GDP) figures for Germany and the Eurozone are due on Friday, and could support ...

Markets - Commodities - Asia

Asia Rubber-Prices rise on tighter supply; buyers scarce ahead of lunar holiday SINGAPORE: Prices for rubber cargoes in Asia picked up this week amid shorter supply of raw material in Indonesia and expectations of tightness elsewhere, while buyers were scarce in top consumer China ahead of the Lunar New Year break, traders said.Wintering has begun in North Sumatra, a key rubber producing region in Indonesia, a period when rubber trees become drier, said a trader from the Indonesian province of Riau. Wintering in that region usually lasts ...

Markets - Commodities - Europe

BHP to lose 60,000-70,000 Tonnes copper output from Olympic Dam mine SYDNEY: Copper output from BHP Billiton's Olympic Dam mine in Australia will be cut by 60,000-70,000 tonnes this year, or more than a third of the targeted output levels, due to repair and maintenance work, the miner said on Friday.The lower production would wipe out more than a quarter of the year's global copper surplus, estimated at 221,000 tonnes by analysts polled by Reuters, supporting metal prices that are down almost 9 percent so far ...

Markets - Commodities - Americas

Brazilian coffee farmers sell 79pc of 2014 crop SAO PAULO: Brazilian coffee producers sold 79 percent of the estimated 48.9 million bag harvest of 2014 by Feb. 6, surpassing the 75 percent average for this time of year, local crop analysts Safras e Mercado said on Thursday. In December, producers had sold 72 percent of their harvest and by Feb. 6, 2014, they had sold 70 percent, Safras said."The rise in prices in early February, due to the appreciation of the dollar and ...

Markets - Commodities - Europe

Copper gains on dollar, Ukraine deal, but Greek worries weigh LONDON: Copper rose on Thursday, underpinned by a cease-fire in Ukraine and a weak dollar, although gains were kept in check by caution over a deadlock in talks between Greece and its international creditors.Three-month copper on the London Metal Exchange (LME) closed up 2.4 percent at $5,736 a tonne after touching $5,754, the highest in a week. Helping gains was a drop in the dollar against a basket of currencies, which makes commodities priced in ...

Markets - Commodities - Europe

European vegoils: Palm oil prices lifted by Malaysian export tax PARIS: Palm oil prices on the European vegetable oils market rose on Thursday, mainly supported by the announcement that Malaysia will resume taxing palm exports. The world's second-largest producer will re-start taxing exports of crude palm oil in March, a minister said on Thursday, after scrapping the duty for five months in a bid to spur demand and reduce bloated stockpiles. The tax rate would depend on palm oil prices, he said, adding that the ...

Markets - Commodities - Americas

US Cash Soymeal: Offers steady to firm in truck market CHICAGO: Cash basis offers for soymeal were steady to firm at truck market processors around the US Midwest on Thursday, supported by steady demand and slow country movement of soybeans, dealers said.Farmer sales of soybeans have slowed to a trickle, leaving processors with thin crushing supplies.Offers were flat on the rail market. A broker said that nearby demand was strong.On the export front, a trader said that soymeal sold in combination with other commodities for ...