01252017Wed
Last update: Wed, 25 Jan 2017 12am

Asia

Markets - Commodities - Asia

China orders 2mn tonnes of Ukraine corn so far in 2015 SHANGHAI: China has ordered about 2 million tonnes of corn from Ukraine this year so far, two industry sources said, well above an earlier estimate of 600,000 tonnes.The corn was booked under a loan-for-grains deal signed between the two countries in 2012.Copyright Reuters, 2015 ...

Markets - Commodities - Asia

RUBBER-TOCOM ends up; posts 4pc weekly loss TOKYO: Benchmark Tokyo rubber futures closed up for the first time in three days on Friday, but posted a 4 percent loss for the week as market fundamentals stayed weak reflecting oversupply and worries over further weakening in Chinese demand, brokers said.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, and Shanghai futures have been grappling with dwindling prices, as sellers opted to hold on to stocks rather ...

Markets - Commodities - Asia

Gold-Tepid demand as price clings to $1,200, weak monsoon in India SINGAPORE/MUMBAI: Gold buying in Asia was slow this week as firmer spot prices turned off potential buyers, especially in China, and a weak monsoon threatened demand in India.Spot gold is trading just below $1,200 an ounce on Friday and not far below a seven-week high reached earlier in the week, frustrating Chinese buyers who were hoping for a steeper decline in prices."Nobody wants to buy gold when it's around $1,200," said Ronald Leung, chief dealer ...

Markets - Commodities - Asia

Palm firms on robust demand, but heads for biggest weekly drop in three KUALA LUMPUR: Malaysian palm oil futures firmed on Friday, snapping a three-day losing streak as robust export data lifted hopes that demand was improving, but prices were still headed for their biggest weekly loss in three.Despite ending a duty-free policy held since September, Malaysian exports of palm oil products in the first 10 days of April rose 24 percent to 324,545 tonnes from the corresponding period in March, as buyers booked more refined palm olein, ...

Markets - Commodities - Asia

CBOT wheat to fall to $5.11-1/4 SINGAPORE: CBOT May wheat may fall further to $5.11-1/4 per bushel as it has slid below support at $5.19.Support was at the 38.2 percent Fibonacci retracement on the rise from the March 6 low of $4.78-1/4 to the April 4 high of $5.44-1/4.The next support will be at $5.11-1/4, the 50 percent level, a break below which will open the way towards the 61.8 percent level at $5.03-1/2.A rise to $5.22 could signal the break ...

Markets - Commodities - Asia

Iron ore in fresh crisis as forward prices crumble SINGAPORE: Iron ore is veering to a new crisis as prices for future delivery of the commodity slide 30 percent in the space of a month, and its outlook is now more bearish than oil and more dire than ever for miners struggling to just stay in business. Prices of the steel-making ingredient for immediate delivery have slumped 60 percent over the past year as demand particularly from China slowed rapidly. Despite the crumbling cash ...

Markets - Commodities - Asia

China to cut iron ore tax in new blow to glut-hit prices SINGAPORE/SYDNEY: China has moved to prop up its struggling iron ore industry by slashing taxes, potentially expanding a global glut and undermining a strategy by mega miners to drive out high-cost competitors. Brazil's Vale and Australian miners Rio Tinto and BHP Billiton have sought to drive out higher cost and less efficient miners in China, to make way for a flood of new production.But China's cabinet said on Wednesday that it would cut the tax ...