01182017Wed
Last update: Wed, 18 Jan 2017 10am

Australia

Markets - Commodities - Australia

London copper falls after tepid China trade data MELBOURNE: London copper slipped on Thursday after China's September trade data showed a sharp decline in exports, raising fresh concerns about the health of the world's No.2 economy and biggest user of metals.China's September exports fell 10 percent from a year earlier, far worse than expected, while imports unexpectedly shrank after picking up in August, suggesting signs of steadying in the world's second-largest economy may be short-lived.The disappointing trade figures pointed to weaker demand both at home and aboard, and deepened concerns over the latest depreciation in China's yuan currency."It's not really a surprise for us to see a low number for September. The import numbers have mostly been shrinking since March, as China imported too much copper in the beginning of this year, mainly due to the arbitrage between ShFE and LME, and interest rates," said Chris Wu, analyst with CRU in Beijing.Wu said that China's credit-fuelled housing revival ...

Markets - Commodities - Australia

London copper hangs near Oct peak as US risk appetite improves MELBOURNE: London copper drifted on Tuesday as the dollar held strong after recent solid economic reports, although optimism that U.S. presidential candidate Hilary Clinton was pulling ahead in the polls fed appetite for risk, limiting losses.A stronger dollar makes commodities, priced in the U.S. currency, more expensive for buyers paying with other currencies. But as China's economic activity ramps up after a week of holidays, demand is expected to strengthen into year end."We have shifted ...

Markets - Commodities - Australia

Copper little changed, China holiday dampens market MELBOURNE: London copper was marking time on Wednesday, underpinned by a softer dollar and expectations that China's metal demand will slowly and steadily improve into the fourth quarter.Volumes were low with the top copper consumer China midway through a week of holidays."We do not expect to see much change in the metal markets given that China is out this week, but have to suspect that ... the recent collapse in gold and a reviving dollar ...

Markets - Commodities - Australia

Corn prices drop for first time in four sessions SYDNEY: US corn edged lower for the first time in four sessions on Wednesday on ample global supply, retreating from its highest in more than two months touched the day before.Soybeans were little changed after closing down 1 percent in the previous session, while wheat was steady.The most active corn futures on the Chicago Board of Trade fell 0.14 percent to $3.47-3/4 a bushel after closing up 0.65 percent in the last session. Prices on ...

Markets - Commodities - Australia

London copper below 4-week high ahead of central bank calls MELBOURNE: London copper eased on Wednesday from four-week highs as the dollar rose ahead of key decisions by the Japanese and U.S. central banks, but expectations of a pick-up in demand from China underpinned prices.The Bank of Japan is expected on Wednesday to make negative interest rates the centrepiece of a new policy framework - widely seen as a desperate attempt to show it still has the means to fight chronic stagnation.The U.S. Federal Reserve ...

Markets - Commodities - Australia

London copper, nickel slip after holiday gains MELBOURNE: London copper and nickel dipped on Tuesday as the dollar edged higher, but encouraging economic signals from China offered some support to prices.A real estate boom and stronger than expected factory activity over summer has brightened the outlook for metals, with copper also finding support from earlier than expected consumer restocking."With summer coming to a close, copper demand conditions in China have improved markedly," JP Morgan said in a report."Orders for low voltage copper ...

Markets - Commodities - Australia

London copper falls, nickel jumps as China returns from holiday MELBOURNE: London copper dropped nearly 1 percent on Monday while London nickel jumped in volatile trade as Chinese markets returned from an extended autumn break.China returned to a spate of encouraging readings of its economy. Business confidence among entrepreneurs has picked up for the second quarter in a row in 2016, while average new home prices in China's 70 major cities rose 9.2 percent in August from a year earlier.Higher property prices in China are ...