01182017Wed
Last update: Wed, 18 Jan 2017 10am

Markets - Commodities

Markets - Commodities - Europe

Gold edges higher as dollar retreats from 14-year peak LONDON: Gold firmed on Wednesday as a retreat in the dollar from the previous session's 14-year peak prompted some buyers to hunt bargains after the metal's sharp slide from its November high.Gold had been hit hard by a surge in the dollar after the November US elections, and a more hawkish tone from the Federal Reserve after it hiked US interest rates for only the second time in a decade last month.Prices of the metal have fallen more than 11 percent since the elections before finding a floor at around $1,125 an ounce.Spot gold was up 0.2 percent at $1,133.90 an ounce at 1035 GMT, while US gold futures for February delivery were up $2.20 an ounce at $1,135.80."With what we're seeing in the dollar at the moment, there is no real driver to push gold lower," ABN Amro analyst Georgette Boele said."Because of that, we're seeing it taking a ...

Markets - Commodities - Asia

Marubeni predicts Japan aluminium premiums at $80-$140/T in 2017 TOKYO: The premiums that Japanese buyers pay for aluminium are projected to stay between $80 and $140 a tonne next year, with a gradual rise later in the year on the back of healthy global demand, Japanese trading house Marubeni said on Wednesday. Japan is Asia's top aluminium importer and the premiums for primary metal shipments it agrees to pay each quarter over the London Metal Exchange (LME) cash price set the benchmark for the ...

Markets - Commodities - Asia

Thailand, Vietnam markets quiet ahead of Christmas, New Year HANOI: Rice export prices in Vietnam widened this week while prices in Thailand were flat in a quiet market ahead of Christmas and New Year holidays, traders said on Wednesday. Prices of Vietnam's 5-percent broken rice widened to $335-$350 a tonne, FOB basis, from $338-$340 a week earlier."The market is quiet and we have not seen any moves from Philippine firms, which have been given quota to import rice," said an exporter based in Ho ...

Markets - Commodities - Asia

Japan to import 6,700 tonnes of feed wheat via tender TOKYO: Japan's Ministry of Agriculture said it would import 6,700 tonnes of feed-quality wheat for livestock use via a simultaneous buy and sell (SBS) auction that closed late on Wednesday.The ministry had sought 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley to be loaded by Feb. 3, 2017 and arrive in Japan by March 3, in the tender that is usually conducted weekly. It will skip a tender for at least the ...

Markets - Commodities - Asia

Palm rebounded from three-day fall as traders cover position KUALA LUMPUR: Malaysian palm oil futures edged up on Wednesday, breaking a three-day losing streak as traders look to square their positions ahead of the holidays.Benchmark palm oil futures for March delivery rose 0.65 percent on the Bursa Malaysia Derivatives Exchange to 3,113 ringgit ($695.33) a tonne by the midday break.Traded volumes stood at 32,451 lots of 25 tonnes each.A trader based in Kuala Lumpur said the market was covering its position in anticipation of ...

Markets - Commodities - Asia

TOCOM ends up 1.6pc on firm Shanghai futures TOKYO: Benchmark Tokyo rubber futures ended up 1.6 percent on Wednesday as investors bought back after two days of declines, supported by gains in Shanghai futures.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, were also supported by gains in oil prices on expectations of a U.S. crude inventory draw, but trading was slow ahead of year-end holidays, dealers said.The benchmark TOCOM rubber contract for May delivery finished ...

Markets - Commodities - Asia

India's natural rubber imports jump 22.4pc y/y in Nov MUMBAI: India's natural rubber imports in November jumped 22.4 percent from a year ago to 43,123 tonnes, even as production rose 19 percent, the state-run Rubber Board said in a statement on Wednesday.The country's production stood at 63,000 tonnes in the month, up from 53,000 tonnes a year ago. India's natural rubber consumption rose 13 percent to 88,000 tonnes, it said.India imports natural rubber mainly from Thailand, Indonesia, Vietnam and Malaysia.Copyright Reuters, 2016