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 that Bernanke is not going to deviate too much from what they have said previously," said Victor Thianpiriya, commodities strategist at ANZ in Singapore. "He is likely to reiterate that any changes in the pace of their asset purchases will be data dependent."Three-month copper on the London Metal Exchange rose 0.1 percent to $7,013.25 a tonne by 0711 GMT, after falling on Tuesday to its lowest since May 3 at $6,965.The most-traded copper contract on ...
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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 that Bernanke is not going to deviate too much from what they have said previously," said Victor Thianpiriya, commodities strategist at ANZ in Singapore. "He is likely to reiterate that any changes in the pace of their asset purchases will be data dependent."Three-month copper on the London Metal Exchange rose 0.1 percent to $7,013.25 a tonne by 0711 GMT, after falling on Tuesday to its lowest since May 3 at $6,965.The most-traded copper contract on ...
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 ...
KUALA LUMPUR: Exports of Malaysian palm oil products for June 1-15 rose 15.7 percent to 707,148 tonnes, compared with 611,277 tonnes shipped during May 1-15, cargo surveyor Societe Generale de Surveillance said on Monday.Copyright Reuters, 2013 ...
