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

Asia

Markets - Commodities - Asia

Copper drifts as trade volumes dwindle ahead of holiday MELBOURNE: London copper edged back towards one-month lows hit earlier this week on Thursday as the upcoming Christmas holidays drained markets of liquidity and direction.The tone in wider markets was subdued. Asian shares struggled, taking their cues from a lacklustre day on Wall Street as investors locked in gains ahead of the break while China soothed worries of a year-end liquidity crunch.At least one Chinese state lender provided liquidity support worth several billion yuan to fund management firms via short-term lending tools on Wednesday, two sources with knowledge of the matter said."Trading is slowly grinding to a halt ahead of the upcoming Christmas break and we expect more of the same through year-end," said analyst Ed Meir of INTL FCSTONE in a report.Three-month copper on the London Metal Exchange slipped by 0.3 percent to $5,498 a tonne by 0325 GMT. Prices fell to the lowest since Nov. 21 on Monday ...

Markets - Commodities - Asia

Wheat falls for fourth sessions, hits 3-week low SYDNEY: US wheat edged towards its lowest in nearly three weeks on Thursday, falling for a fourth consecutive session on ample global supply.Corn prices were little changed, while soybeans were flat, lingering near a one-month low.The most active wheat futures on the Chicago Board of Trade dropped 0.31 percent to $3.98-1/4 a bushel - the lowest since Dec. 2. Wheat closed down 0.93 percent on Wednesday."There is ample global supply of wheat, while the concerns ...

Markets - Commodities - Asia

Palm edges up on lower output expectations, but gains limited  KUALA LUMPUR: Malaysia palm oil futures ticked up on Thursday, supported by an estimated drop in production this year, but gains were capped by expectations that output would recover next year.Benchmark palm oil futures for March delivery on the Bursa Malaysia Derivatives Exchange rose 0.3 percent to 3,122 ringgit ($697.81) per tonne by the midday break.Traded volumes stood at 10,196 lots of 25 tonnes each."There is lack of participation ahead of the long weekend," said ...

Markets - Commodities - Asia

China top coal province Jan-Nov output down 15pc on year BEIJING: China's top coal producing province Shanxi recorded a 15.2 percent fall in output of the fossil fuel to 738.22 million tonnes in the first 11 months this year versus a year earlier, China News Service said on Wednesday. - The output figures are tallied at producers with so-called sizeable scales. - The province closed down 25 coal mines in 2016, with total capacity cut by 23.25 million tonnes, the largest cut by province. Copyright ...

Markets - Commodities - Asia

China's top corn producer to cut toll fees to ease congestion BEIJING: China's top corn producing province Heilongjiang will cut highway toll fees for trucks carrying corn, following last week's move by neighboring Jilin province to relax trucking rules in an effort to ease logjams and high costs.Trucks transporting corn out of Heilongjiang, located in China's northeast corn belt, will be exempt from or get lower highway toll fees, according to China's National Grain and Oils Information Center, the country's grains council, citing an official document.The ...

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 ...