09292016Thu
Last update: Thu, 29 Sep 2016 04am

Asia

Markets - Commodities - Asia

Vietnam Coffee-Trading expected to slow next month HANOI: Trading in Vietnamese coffee is expected to slow next month as stocks with farmers thinned and exporters are reluctant to sell on expectation of a delay in harvest, traders said on Tuesday.Vietnam, the world's largest producer of bitter beans used for making soluble coffee, will start its 2016/2017 crop year next month, with adverse weather expected to delay harvesting in the key growing province of Daklak."Farmers have very thin stocks, while exporters are not selling much as they anticipate a late start to the harvest," said a trader with a foreign firm in Ho Chi Minh City.Another trader said growers in the Central Highlands coffee belt were estimated to be holding less than 10 percent of the 2015/2016 crop output.A rise in local prices on Tuesday also failed to boost sales, as sellers held onto their holdings on expectation prices would rise further.Robusta prices rose to between 40.8 million ...

Markets - Commodities - Asia

TOCOM soars to near 4-month high following Shanghai surge TOKYO: Benchmark Tokyo rubber futures soared nearly 5 percent to its highest in almost four months on Tuesday as a jump in Shanghai futures prompted a flurry of fresh buying, helping the Tokyo benchmark break through a key ceiling of 160 yen."A sudden surge in China's commodity prices including rubber led to panic buying in Tokyo, although there were no fresh fundamental factors to support the gain," a Tokyo-based dealer said.The Tokyo Commodity Exchange (TOCOM) ...

Markets - Commodities - Asia

Shanghai copper still targets 37,780 yuan  SINGAPORE: Shanghai copper still targets 37,780 yuan per tonne, as suggested by Fibonacci retracement analysis.The analysis, on the uptrend from the Nov. 24, 2015 low of 33,150 yuan to the July 13 high of 39,210 yuan, reveals that copper has broken a resistance at 36,900 yuan and is heading towards the next resistance at 37,780 yuan.A correction from the current level could be limited to 36,900 yuan, now a support. The next support at 36,180 ...

Markets - Commodities - Asia

Vietnam's coffee prices at $1,840/T, near 19-month high HANOI: Robusta coffee prices in Vietnam, the world's biggest producer of the bitter variety, rose to between 40.8 million to 41 million dong ($1,830-$1,840) a tonne on Tuesday, their highest in nearly 19 months, traders said.Prices in the top growing province of Daklak rose to 41 million dong, which is a 15 percent jump since the start of the 2015/2016 season ending this month, according to Thomson Reuters data. The price is the highest since ...

Markets - Commodities - Asia

Soybeans up for 4th day as wet weather slows US harvest SINGAPORE: Chicago soybeans rose for a fourth straight session on Tuesday as excessive rains in parts of the US Midwest delayed harvest and raised concerns about crop quality.Corn eased although the decline was limited by worries about the US crop facing rains during harvest, while wheat dipped amid continued concerns about top importer Egypt's ban on cargoes with ergot fungus, a common grain fungus.Chicago Board Of Trade most-active soybean contract rose 0.7 percent to $9.79-1/4 ...

Markets - Commodities - Asia

Soybeans hit 1-week top, corn up 2nd day on US rains SINGAPORE: Chicago soybeans climbed more than one percent on Monday to a one-week high and corn gained more ground, with prices underpinned by rains in parts of the US Midwest that delayed the harvest.Wheat rose on spillover strength from corn, although the market's focus is on top buyer Egypt banning foreign shipments with any traces of ergot fungus.Chicago Board of Trade most-active soybean contract rose as much as 1.2 percent to $9.78 a bushel by ...

Markets - Commodities - Asia

China steel falls to lowest since June amid property curbs MANILA: Chinese steel prices dropped to their lowest in nearly three months on Monday on worries that fresh efforts to curb home purchases could slow demand in the top global steel consumer.Financial markets reopened in the country on Monday after closing on Thursday and Friday for China's Mid-Autumn Festival.Home prices there rose at a faster pace in August, data showed, with the buying frenzy spilling over from first-tier cities to other parts of the country. ...