06292016Wed
Last update: Wed, 29 Jun 2016 02pm

Markets - Commodities

Markets - Commodities - Europe

Copper hits six-week high on optimism Britain will stay in EU LONDON: Copper prices rose to their highest in more than six weeks on Thursday as opinion polls indicating that Britons favour staying in the European Union boosted sentiment that was also reinforced by a weaker dollar.Benchmark copper on the London Metal Exchange (LME) gained 1.1 percent to $4,751 a tonne in official trading. It had earlier touched $4,780, its highest since May 9, on low volumes.The campaign to keep Britain in the European Union received a boost from two opinion polls published late on Wednesday, a few hours before voters begin to cast their votes in the historic EU membership referendum."The EU referendum has dominated things globally," said Cantor Fitzgerald analyst Asa Bridle. "The lower dollar helps, but copper is still ranging."Copper, mainly used in power and construction, has mostly traded in a $4,500 to $5,000 range this year and price movements in recent weeks have been largely related to ...

Markets - Commodities - Asia

Thailand's rice exports jump 11pc in the first half of 2016 BANGKOK: Thailand has exported about 4.71 million tonnes of rice worth 74.9 billion baht ($2.1 billion) since January, an 11.42 percent increase from the same period last year, the commerce minister said on Thursday.The government expects exports of Asia's staple food to rise in the second half of the year on strong demand from the Philippines and Indonesia, said Commerce Minister Apiradi Tantraporn. Thailand should easily meet its annual export target of 9.5 million tonnes, ...

Markets - Commodities - Middle East & Africa

Zambia expects copper output to double next year LUSAKA: Zambia's copper production will rise by 5.5 percent to 750,000 tonnes this year and output is expected to double to 1.5 million tonnes in 2017, Mines Minister Christopher Yaluma said on Thursday.Copper production in Africa's second-biggest producer stood at 711,515 tonnes in 2015."It has to do with mining companies trying to optimise their production. We will also maintain consistent mining policies," Yaluma told journalists on the sidelines of a mining conference.Zambia's frenzied royalty tax ...

Markets - Commodities - Asia

Palm draws late buying ahead of possible ringgit spike after British vote KUALA LUMPUR: Malaysian palm oil futures steadied in late trade on Thursday, recovering earlier losses as some traders bought palm before a possible spike in the ringgit if Britain votes to stay in the European Union.The ringgit and other emerging market currencies have been hit by recent volatility in global financial markets on nervousness about the economic impact if Britain votes to leave the EU in a referendum on Thursday.Final opinion polls were mostly too ...

Markets - Commodities - Europe

Gold hits two-week low as Britain votes on EU membership LONDON: Gold fell to a two-week low on Thursday as the last sweep of opinion polls before Britain's referendum on EU membership began gave the campaign to stay in the bloc a slight edge.Britons were voting on Thursday in the referendum that has divided the nation. The polling will close at 2100 GMT, with results expected early on Friday.Spot gold was down 0.2 percent at $1,263.26 an ounce by 1149 GMT, after hitting $1,258.25, its ...

Markets - Commodities - Asia

Asia Coffee-Indonesia harvest quickens; Asian 2016/17 output seen down HANOI: Coffee premiums in Indonesia were largely unchanged this week despite strong demand and the harvest picking up pace, while Vietnamese premiums eased slightly, traders said.However, prices in the world's third-largest robusta producer after Vietnam and Brazil are still unlikely to influence global rates as most of the Indonesian produce is sold locally, they added.Global production in 2016/2017 is forecast to rise 1.6 percent from this season to 155.7 million bags on higher arabica output, ...

Markets - Commodities - Asia

TOCOM ends flat after hitting two-week high; traders await UK vote TOKYO: Benchmark Tokyo rubber futures ended flat on Thursday, retreating from a two-week high hit earlier in the session on a weaker yen, as investors cautiously awaited the United Kingdom's vote on whether to stay in the European Union.Britons are voting on Thursday to decide the future of their country and Europe in a referendum on EU membership that has divided the nation and is being nervously watched by financial markets and politicians across the ...