07242016Sun
Last update: Sun, 24 Jul 2016 04am

Markets - Commodities

Markets - Commodities - Asia

Copper slips for 2nd day on dollar, market eyes stimulus SINGAPORE: London copper fell for a second consecutive session on Monday, with a firmer dollar weighing on prices, although expectations of economic stimulus in top consumer China kept a floor under the market. The US dollar gained on the yen as investors unwound safe-haven trades in the wake of the failed coup in Turkey, while a giant takeover bid in the tech sector and the promise of central bank stimulus lent support to equities.Three-month copper on the London Metal Exchange slid 0.8 percent to $4,879.50 a tonne by 0718 GMT. The most-traded copper contract on the Shanghai Futures Exchange closed 1.5 percent down at 37,850 yuan ($5,650.86) a tonne."The price action today is more to do with investors taking profit and a stronger dollar weighing on prices," said Chunlan Li, an analyst at CRU in Beijing. "There is not much change in the fundamental situation, it is summer season and ...

Markets - Commodities - Asia

China steel-linked commodities futures tumble, on expectation gains outpacing physical demand SHANGHAI: Chinese steel-related commodities futures dived on Monday, erasing last week's rally as investors felt the previous gains outpaced physical demand for steel in China, the world's top producer. The October benchmark rebar contract on the Shanghai Futures Exchange and September iron ore contract on the Dalian Commodity Exchange deepened losses in the afternoon trading, hitting downside limit of 6 percent by close.Rebar was at a one-week low of 2,362 yuan ($352.61) a tonne and ...

Markets - Commodities - Americas

NY sugar to retest support at 19.16 cents SINGAPORE: New York Nov. sugar is expected to retest a support at 19.16 cents per lb, a break below which could cause a loss to the next support at 18.80 cents.The contract is riding on a wave C, the third wave of a three-wave cycle from the June 30 high of 21.22 cents. This wave is capable of traveling to 18.80 cents, its 100 percent projection level.A Fibonacci retracement on the uptrend from the June ...

Markets - Commodities - Asia

India's PEC issues tender to import 40,000 tones corn HAMBURG: Indian state-run trading company PEC has issued a new international tender to buy and import 40,000 tonnes yellow corn (maize), European traders said on Monday. The tender closes on July 22 and offers must remain valid up to July 29, they said.PEC had on Friday also issued a tender to buy 80,000 tonnes of yellow corn closing on July 21 and with offers remaining valid up to July 24, while the state-run Trading Corp ...

Markets - Commodities - Americas

NY coffee may fall to $1.4470 SINGAPORE: New York Sept. coffee may break a support at $1.4710 per lb, and fall more to the next support at $1.4470, as suggested by its wave pattern and a Fibonacci projection analysis.For a chart: http://tmsnrt.rs/29HrC7gA three-wave cycle from the June 27 low of $1.3460 has completed, as indicated by the deep fall from the July 15 high of $1.5480. A Fibonacci retracement analysis on the cycle reveals two supports, provided by the 38.2 percent ...

Markets - Commodities - Asia

South Korea's KOMIPO buys coal, WP passes for Sept-Oct SEOUL: South Korea's Korea Midland Power Co Ltd (KOMIPO) bought a total of 500,000 tonnes of coal, while Korea Western Power Co Ltd (WP) declined to purchase a combined 220,000 tonnes of coal due to high prices, sources from the utilities said on Monday.KOMIPO bought Australian coal for shipping between September and October, a source from the utility said without giving details of the price.It initially sought to purchase another 280,000 tonnes of low calorific ...

Markets - Commodities - Americas

CBOT soybeans may retest support at $10.40-1/2 SINGAPORE: CBOT soybeans November contract may retest a support at $10.40-1/2 per bushel, a break below which could cause a loss to the next support at $10.21.These supports are identified respectively as the 50 percent and the 61.8 percent Fibonacci projection levels of a downward wave C, the third wave of a three-wave cycle from the June 13 high of $11.86-1/4.At its full capacity, this wave could travel to $9.57-3/4, the 100 percent projection level. ...