02102016Wed
Last update: Wed, 10 Feb 2016 03pm

Markets - Commodities

Markets - Commodities - Europe

Coffee prices rise as origin selling of robustas slows LONDON: Robusta coffee futures edged higher on Wednesday with its recent decline running out of steam as the pace of origin selling in Vietnam slowed while arabica coffee also bucked overall weakness in commodity markets.Raw sugar futures dipped to a three-month low and cocoa also slipped as commodities markets took their cue from crude oil prices that fell back after Tuesday's advance.Robusta coffee prices had been suppressed this month by heavy selling by Vietnamese traders, in part to finance next month's Tet holiday celebrations."The origin selling which has been keeping the market down has disappeared," one London dealer said.Vietnam is the world's second-largest coffee producer and top robusta grower.March robusta coffee was up $8, or 0.6 percent, at $1,398 a tonne by 1319 GMT. The second month had slumped to a more than 5-1/2 year low of $1,339 last week.Vietnam will export an estimated 155,000 tonnes (2.58 million 60 kg ...

Markets - Commodities - Asia

TOCOM edges up on short-covering ahead of Fed statement TOKYO: Benchmark Tokyo rubber futures edged up on Wednesday as investors unwound short positions ahead of a U.S. Federal Reserve policy statement due out later in the day while firmer Tokyo stocks also lent support, dealers said.The Tokyo Commodity Exchange rubber contract for July delivery finished 0.6 yen higher at 158.9 yen ($1.34) per kg.It rose above 160 yen in early trade, but worries about the Chinese equity market that had tanked over 6 percent ...

Markets - Commodities - Asia

Palm oil rises for 3rd session to 19-month top on tighter supplies KUALA LUMPUR: Malaysian palm oil futures rose for a third straight session on Wednesday to hit their highest level in 19 months on tighter supplies.The palm oil contract for April on the Bursa Malaysia Derivatives Exchange rose as much as 1.41 percent in afternoon trade to touch its highest level since June 25, 2014 at 2,510 ringgit ($590.17) per tonne, before settling up 1.1 percent at 2,502 ringgit.Traded volume stood at 62,044 lots of 25 ...

Markets - Commodities - Europe

Gold below 12-week top on investor caution before Fed statement LONDON: Gold steadied below a 12-week peak on Wednesday as investors remained cautious ahead of the Federal Reserve's first policy statement of the year, which is expected to give clues on interest rates.While the U.S. central bank is likely to keep key rates unchanged at the conclusion of its two-day meet later in the day, investors are keen to see its latest outlook on global economic headwinds."A potential further decline in equities and market uncertainty ...

Markets - Commodities - Europe

Copper slips off high as traders eye Fed meeting LONDON: Copper steadied on Wednesday after hitting its highest since Jan. 8 as oil resumed its fall and investors became cautious ahead of a Federal Reserve policy meeting later in the day.The metal was underpinned, however, by better than expected Chinese import data released a day earlier.Oil fell as rising inventories wiped out optimism about possible supply cuts, deterring investors from buying commodity basket funds that include copper.The Federal Reserve is expected to leave interest ...

Markets - Commodities - Europe

Wheat eases after one-month high on Russia export doubts PARIS/SYDNEY: US wheat edged lower on Wednesday to come off a one-month high as a renewed slide in oil and equities hurt overall markets sentiment, and a proposal by Russia's farm ministry to cut a wheat export tax tempered speculation about export restrictions.Corn and soybeans were little changed as traders weighed bearish outside markets against weather concerns in South America and southern Africa.Chicago Board of Trade front-month wheat fell 0.8 percent to $4.81 a bushel ...

Markets - Commodities - Asia

China zinc imports surge as local mines shut on high costs MELBOURNE: China's zinc imports surged in December as low prices have forced costly local mines out of business and as galvanisers hoovered up cheaper imported metal ahead of an expected shortfall later in the year, industry sources said.China's imports of the metal used to rust proof steel have shown fresh signs of life over the past three months, suggesting that local mine closures will sow the seeds of a price revival later in the year.The ...