09282016Wed
Last update: Wed, 28 Sep 2016 08pm

Asia

Markets - Commodities - Asia

China blocks 15 coal-fired power plants projects BEIJING: China cancelled 15 new coal power plant projects, with a total capacity of 12.4 million kilowatt hours, the National Energy Administration (NEA) said on late Friday. The projects are located across several regions of China, including Shanxi and Shandong provinces in eastern China and Guangdong province in the South. In a strictly worded document, the NEA says it will crackdown on illegal coal power plant construction.Companies that break the rules will be punished by the suspension of bank loans or possibly banned from the power grid. Copyright Reuters, 2016 ...

Markets - Commodities - Asia

Palm falls on lower demand, profit-taking KUALA LUMPUR: Malaysian palm oil futures declined in trade on Friday, weighed down by lower demand and profit-taking, but posted their biggest weekly gain since mid-August.Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange were down 1.8 percent at 2,675 ringgit ($651) a tonne by the end of the trading day.The contract hit its highest since April 21 at 2,729 ringgit on Thursday, and has gained 3.1 percent this week in its ...

Markets - Commodities - Asia

Malaysian crude palm oil prices seen at 3,000 ringgit/tonnes PANAJI: Malaysian crude palm oil prices are expected to jump to 3,000 ringgit a tonne by the October-December quarter, leading edible oil analyst Thomas Mielke said on Friday. By the midday break, benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange were down 0.9 percent at 2,700 ringgit ($656) a tonne.Malaysia's palm oil output in 2017 is seen at 20.60 million tonnes against 18.10 million tonnes estimated for this year, Mielke told ...

Markets - Commodities - Asia

India's wheat imports rise above 1mn tonnes as mills boost purchases SINGAPORE: India's wheat imports in the year to June 2017 have risen above 1 million tonnes with mills stepping up purchases from Ukraine as the cost of imported wheat falls below domestic prices. Traders have booked close to 150,000 of Ukrainian wheat since the beginning of last week for shipment mainly in October at about $192-$193 a tonne, including cost and freight, two trade sources said.This includes purchases of 76,000 reported on Tuesday."Imported wheat is ...

Markets - Commodities - Asia

TOCOM rallies to four-month high, pares gains on profit-taking TOKYO: Benchmark Tokyo rubber futures rallied for a third straight session on Friday, breaking through the 170 yen mark for the first time in four months, due to technical buying, but pared gains as investors locked in profits ahead of the weekend. "Buying gathered momentum as the benchmark has moved away from a narrow range of 150 yen to 160 yen," said Hiroyuki Kikukawa, general manager of research at Nissan Securities."Behind the sharp gain this ...

Markets - Commodities - Asia

Palm oil climbs to five-month high in evening trade KUALA LUMPUR: Malaysian palm oil futures recorded a fourth session of gains in five on Thursday, supported by expectations of lower output and better than forecast export demand.Palm also climbed to a five-month high in evening trade on bullish comments from leading analysts at an industry conference. It had dropped in the previous session after three days of gains.Benchmark palm oil futures for December rose 1.8 percent to 2,725 ringgit ($664) a tonne at the ...

Markets - Commodities - Asia

Soybeans rebound as rains threaten US harvest, corn firms SINGAPORE: Chicago soybean futures bounced back on Thursday, rising for five out of six sessions, with prices buoyed by forecasts of more rains in the US Midwest that threaten to further delay the harvest.Wheat rose for a fifth consecutive session as Egypt's move to reverse its controversial zero-tolerance policy on a common grains fungus supported the market.Chicago Board Of Trade most-active soybean contract rose 0.5 percent to $9.80-3/4 a bushel by 0247 GMT, having closed ...