01192017Thu
Last update: Thu, 19 Jan 2017 05am

Americas

Markets - Commodities - Americas

Aluminium producers seek Q1 premium of $95-$110/T from Japanese buyers TOKYO: Some big aluminium producers seek a premium of $95-$110 per tonne from Japanese buyers for primary metal shipments in the January to March period, up 27-47 percent from the previous quarter, five sources involved in pricing talks said on Friday. Japan is Asia's biggest importer of the metal 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 region.Any increase in the quarterly premiums would mark the first rise in three quarters, and reflect tightening supply, although buyers said the initial offers were too high, the sources said. For the October-December quarter, Japanese aluminium buyers agreed to pay a premium of $75 a tonne for the metal, down 17 percent to 19 percent from the prior quarter, on softer spot premiums amid a supply glut. Rio Tinto Ltd has offered Japanese buyers a ...

Markets - Commodities - Americas

CBOT soybeans to rise to $10.44-1/4 SINGAPORE: CBOT soybeans Jan. contract is expected to rise to $10.44-1/4 per bushel, as it has broken a resistance at $10.31.The resistance was established by the 61.8 percent Fibonacci projection level of an upward wave c, the third wave of a three-wave cycle from the Sept. 27 low of $9.40-1/2.The next resistance will be at $10.44-1/4, a break above which could lead to a further gain to $10.53-1/4. The break will be critical in confirming ...

Markets - Commodities - Americas

CBOT corn may test $3.52-1/4 SINGAPORE: CBOT Dec. corn may test a resistance at $3.52-1/4 per bushel, a break above which could lead to a gain to the next resistance at $3.57-1/2.These resistances are identified respectively as the 38.2 percent and the 50 percent Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the Aug. 31 low of $3.14-3/4.This wave may consist of five smaller waves. The most powerful wave 3 is driving ...

Markets - Commodities - Americas

CBOT wheat neutral in $3.96-1/2 to $4.02-1/2 range SINGAPORE: CBOT December wheat looks neutral in a range of $3.96-1/2 to $4.02-1/2 per bushel, and an escape could suggest a direction.The range is formed by the 76.4 percent and the 61.8 percent Fibonacci retracements of the uptrend from the Aug. 31 low of $3.86-3/4 to the Oct. 14 high of $4.28-1/4.After finding the support at $3.96-1/2, wheat approached $4.02-1/2. However, there is no guarantee that it could break $4.02-1/2. A break could lead to ...

Markets - Commodities - Americas

NY sugar to test support at 19.50 cents SINGAPORE: New York March sugar is expected to test a support at 19.50 cents per lb, a break below which could cause a loss to the next support at 18.79 cents.The first support is provided by the 38.2 percent Fibonacci retracement of the uptrend from the Sept. 24, 2015 low of 12.05 cents to the Sept. 29, 2016 high of 24.10 cents.The current drop also seems to be controlled by another set of Fibonacci retracements ...

Markets - Commodities - Americas

NY coffee to drop to $1.5590 SINGAPORE: New York March coffee is expected to drop to $1.5590 per lb, as it has broken a support at $1.6040.The support was established by the 61.8 percent Fibonacci retracement of the uptrend from the Oct. 7 low of $1.4860 to the Nov. 8 high of $1.7955. The next support will be at $1.5590, a break below which could cause a further loss to $1.5280.The chart pattern from Oct. 26 to Nov. 23 looks like ...

Markets - Commodities - Americas

ICE Canada canola futures jump with soyoil on US biofuels targets WINNIPEG: ICE Canada canola futures jumped 1.5 percent on Wednesday, hitting its highest most active price since May, taking strength from a soyoil rally after the United States boosted 2017 biofuels requirements.The US government issued final requirements for biofuel use for next year, saying energy companies must boost the amount of renewables in US fuel supply.January canola gained $7.80 at $528 per tonne.January-March canola spread traded 10,422 times.Chicago January soybeans rose following soyoil.NYSE Liffe February ...