09272016Tue
Last update: Tue, 27 Sep 2016 12am

Asia

Markets - Commodities - Asia

China Aug copper imports sink to one-year low of 350,000 T BEIJING: China's imports of copper fell 2.8 percent from a month ago to 350,000 tonnes in August, the lowest in one year, due to slow seasonal demand and China producing more of its own refined metal, data showed on Thursday.The August figure was 10,000 tonnes lower than imports for July, but was in line with monthly imports seen across June, July and August last year, data from the General Administration of Customs showed.China's copper ore and concentrate imports, in contrast, have jumped 34.6 percent for the first eight months of the year to 10.86 million tonnes, the data showed."China does produce a lot of refined copper and we can see refined copper imports are down, but concentrate imports are up," said Amy Li, Economist, National Australia Bank in Melbourne."Looking beyond the seasonal fluctuations, the manufacturing sector growth in China is still slowing," Li said."I don't think we'll see any meaningful ...

Markets - Commodities - Asia

TOCOM slides to 1-week low on higher yen TOKYO: Benchmark Tokyo rubber futures slid to a one-week low amid light trade on Wednesday, as a surge in the yen against the U.S. dollar after data on the U.S. services sector fell well short of expectations sparked profit taking.The U.S. Institute for Supply Management's non-manufacturing purchasing managers' index fell to 51.4 last month, far short of economists' expectations and the largest one-month drop since November 2008, giving the U.S. Federal Reserve reason to delay ...

Markets - Commodities - Asia

Soybeans up for 4th day on weather concerns, strong demand SINGAPORE: Chicago soybeans rose for a fourth consecutive session on Wednesday, with prices underpinned by strong demand and concerns over excessive wet weather delaying the US harvest.Corn prices remain under pressure as farmers start gathering a record-sized US crop, while wheat ticked up after closing marginally lower on Tuesday.The most-active soybean contract on the Chicago Board of Trade had risen 0.1 percent to $9.61 a bushel by 0306 GMT, having firmed 0.8 percent on Tuesday ...

Markets - Commodities - Asia

Palm extends losses after forecast for higher output KUALA LUMPUR: Malaysian palm oil futures dropped for a second straight session on Wednesday, coming off a near three-week high as the market took profits following forecasts for a rise in production.A recent Reuters poll showed output in Malaysia, the world's second-biggest palm oil producer after Indonesia, likely rose to 1.74 million tonnes for August, up almost 10 percent from July levels and the strongest since October 2015.Benchmark palm oil futures for November on the ...

Markets - Commodities - Asia

Sri Lanka July tea output down 19pc on low prices, poor fertiliser use COLOMBO: Sri Lanka's tea output in July fell 19 percent from a year earlier to a 15-year low due to poor application of fertiliser, low market prices and a government ban on pesticides, the state-run Tea Board said on Monday.Production in the first seven months fell 12 percent, the Board said."There are several reasons like poor application of fertiliser, government banning pesticides and also lower market prices," S.A. Siriwardena, director general at the Sri Lanka ...

Markets - Commodities - Asia

Palm climbs to near 3-week high, tracks firmer Dalian palm olein KUALA LUMPUR: Malaysian palm oil futures hit their highest in nearly three weeks on Monday, rising for a second session, as tight supplies and a firmer overseas palm olein market underpinned prices.Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange rose by 1.9 percent to 2,644 ringgit ($650) per tonne at the end of the trading day, off the day's high of 2,658 ringgit - the strongest since Aug. 17.Traded volumes stood ...

Markets - Commodities - Asia

Shanghai steel bounces off 1-month low as market braces for peak season MANILA: Chinese steel futures advanced on Monday, supported by expectations that seasonal demand in the world's top steel consumer will pick up this month along with construction activity.The end of the G20 summit in China may also spur restocking of the building material among end-users that had been cut off from some suppliers over the past few weeks. Steel mills around the eastern city of Hangzhou were closed ahead of the gathering of world leaders ...