Wednesday, 19 June 2013 14:05
Posted by Shoaib-ur-Rehman Siddiqui
SINGAPORE: London copper hovered near its lowest since early May on Wednesday, as investors looked to a Federal Reserve meeting for clues on the outlook for a US stimulus programme that has underpinned commodity prices.All eyes are on the two-day Fed meeting which ends on Wednesday with a policy statement and a news conference by Chairman Ben Bernanke, who said in May that stimulus could be scaled back if the economy gains momentum."Our view is ...
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SINGAPORE: London copper slid to an almost seven-week low on Thursday, dragged down by the US Federal Reserve's plan to start reducing its stimulus measures later this year and further evidence of slowing growth in China.Commodities came under pressure and Asian shares deepened losses after Fed Chairman Ben Bernanke said the central bank may reduce its bond-buying program with the goal of ending it in mid-2014 -- giving markets a more explicit timeline for the rollback than they had expected.Three-month copper on the London Metal Exchange stretched its losses into a fourth session, dropping 0.9 percent to $6,895 a tonne by 0234 GMT -- its lowest since May 3.The most-traded copper contract on the Shanghai Futures Exchange lost 1.6 percent to 49,950 yuan a tonne, also a near 7-week low."Every year we were using some kind of stimulus to kick start the economy and it looks like this year we ...
SINGAPORE: London copper hovered near its lowest since early May on Wednesday, as investors looked to a Federal Reserve meeting for clues on the outlook for a US stimulus programme that has underpinned commodity prices.All eyes are on the two-day Fed meeting which ends on Wednesday with a policy statement and a news conference by Chairman Ben Bernanke, who said in May that stimulus could be scaled back if the economy gains momentum."Our view is ...
MUMBAI: Indian gold futures edged lower on Wednesday tracking cues from a weak overseas market and as traders eye the US Federal Reserve for direction.Fed Chairman Ben Bernanke said last month the bank could scale back its $85 billion monthly bond purchases if the US economy strengthens, but a lack of clarity on the timing has unsettled markets. A policy statement from the central bank will be released on Wednesday after its meeting.At 0755 GMT, ...
SHANGHAI: Spot iron ore prices jumped for a fourth straight day to a three-week high as traders increased buying to lift the market, while weak restocking by Chinese steelmakers and tepid steel consumption are expected to cap the rally for the raw material.The increasing supply glut in China would keep denting steel prices that previously hit nine-month lows, although strong production means that high appetite for iron ore could support prices against a steep fall."Steel ...
CHICAGO: Chicago Mercantile Exchange live cattle futures rose on Monday driven in part by a five-year high in weekly US beef exports, traders and analysts said.The turnaround in wholesale beef values on Monday also contributed to futures' gains, they said.US Department of Agriculture on Monday reported last week's beef exports at roughly 27,000 tonnes, eclipsing the previous high of around 21,100 tonnes during the first week of February 2013. Monday's beef exports were the most ...
MUMBAI: Coffee prices in India, the world's fifth-biggest producer, rose a tad on export and domestic demand for selected varieties at a weekly auction.Arabica Plantation PB grade prices were higher by Rs 200-250 per 50 kg. AA, MNEB, A and C grade were sold at price levels as indicated below, but B grade remained unsold, auctioneer J. Thomas & Co Pvt Ltd said in a statement on Monday.Of the total of 213,370 kg for sale, ...
BANGKOK: Thailand's rice intervention scheme brought the government losses of 136 billion baht ($4.4 billion) in the crop year running from October 2011 to September 2012, a minister said on Monday.The government is still unable to give any figure for losses in the period after that, Varathep Rattanakorn, minister at the prime minister's office, told reporters.Copyright Reuters, 2013 ...
