12042016Sun
Last update: Sun, 04 Dec 2016 02am

Asia

Markets - Commodities - Asia

China gold output rises over 5 pct in 2014 BEIJING: China's gold output climbed 5.5 percent last year to nearly 452 tonnes, making the country the world's biggest producer for the eighth straight year, the China Gold Association said on Friday.Total consumption reached around 886 tonnes over the year, down 24.7 percent on a year earlier, the association said in a separate notice."Although 2014 gold consumption fell by a large margin, the (longer-term) trend of increasing demand has not changed," the association noted, saying that last year's fall came after a very rapid increase in gold purchases in the second half of 2013 as a result of declining prices.Copyright Reuters, 2015 ...

Markets - Commodities - Asia

CBOT corn may retest resistance at $3.88 SINGAPORE: CBOT March corn may retest a resistance at $3.88 per bushel, driven by a wave C.This is the third wave of a three-wave cycle that developed from the Jan. 30 low of $3.65-3/4. It may eventually travel to $4.02-1/4, its 100 percent Fibonacci projection level, based on the strength of the first wave labelled A.The resistance at $3.88, the 38.2 percent level, has temporarily disrupted this wave and caused a shallow correction, which seems ...

Markets - Commodities - Asia

China rebar futures head for weekly loss on tepid demand SHANGHAI: Chinese steel futures edged up on Friday after falling for the previous four days, but was still set to post a weekly loss as sluggish demand and a supply glut weighs on prices in the world's biggest producer.Apparent steel consumption in China, also the world's biggest consumer of the alloy, fell 4 percent to 740 million tonnes last year, as the country's economy grew at its slowest pace in almost a quarter of a ...

Markets - Commodities - Asia

Malaysia's Jan palm stocks to hit 6-month low, output lowest since Feb 2011 KUALA LUMPUR: Malaysia's January palm oil end-stocks probably dropped to their lowest level in six months after flooding in the Borneo region coupled with seasonally low yields reduced output to the lowest level since February 2011.The tighter inventories may fuel a rally in palm prices , which on Thursday surged over 5 percent to notch their biggest gain since Oct. 2010, buoyed by hopes that Indonesia's proposal to increase biodiesel subsidies will make blending profitable.The ...

Markets - Commodities - Asia

Iraq tenders to buy minimum 50,000 tonnes of wheat BAGHDAD: Iraq issued a new international tender to buy at least 50,000 tonnes of wheat to be sourced from the United States, Canada, Australia or Russia, the trade ministry said on Thursday.The tender closes on Feb. 15 and offers must remain valid until Feb. 19, a statement on the ministry's website said.Volumes in Iraq's wheat tenders are nominal and the country frequently buys more than it tenders for.Copyright Reuters, 2015 ...

Markets - Commodities - Asia

Gold extends gains on Greece uncertainty, US data eyed SINGAPORE: Gold rose for a second session on Thursday, supported by uncertainty in Greece that has cut investor interest in risky assets and China's efforts to spur its slowing economy.But bullion was largely trading in a narrow range ahead of Friday's U.S. employment data that may provide more clues on when U.S. interest rates would rise this year, the first hike in nearly a decade.The European Central Bank said it will no longer accept Greek ...

Markets - Commodities - Asia

TOCOM ends down 1.2pc on oil's fall TOKYO: Benchmark Tokyo rubber futures closed 1.2 percent lower on Thursday, marking the first decline in four sessions as steep falls in crude oil prompted some profit-taking following gains of more than 6 percent in the past three sessions.The Tokyo Commodity Exchange (TOCOM) rubber contract for July delivery finished 2.5 yen lower at 206.4 yen per kg, after gaining 6.5 percent in the past three sessions.The losses were limited after China took steps to pour ...