12082016Thu
Last update: Thu, 08 Dec 2016 05am

Australia

Markets - Commodities - Australia

London copper hovers near 2-week high; China data in focus MELBOURNE: London copper was holding near its highest level in a fortnight on Thursday, as investors took heart from encouraging signals in China's economy and as a softer dollar lent support.China's imports unexpectedly rose in August for the first time in nearly two years, boosted by coal and other commodities, suggesting domestic demand may be picking up and putting the world's second-largest economy on a more balanced footing.Metals markets largely dismissed as seasonal news that 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 a summer lull at factories and China producing more of its own refined metal.Instead, a persistently soft dollar lent support."Unexpectedly weak data in the U.S. non-manufacturing sector and a weaker U.S. dollar have lent buoyancy to metal prices," Commerzbank said in a report.London Metal Exchange copper little changed at $4,646 a tonne ...

Markets - Commodities - Australia

London copper hits two week top as US data drags on dollar MELBOURNE: London copper rose to the highest in two weeks on Wednesday as a falling dollar spurred demand for commodities given fading prospects of a US interest rate hike in September.US service sector activity slowed to a 6-1/2-year low in August amid sharp drops in production and orders, pointing to slowing economic growth that further diminished prospects for an interest rate hike from the Federal Reserve this month.A weaker dollar makes commodities more affordable for ...

Markets - Commodities - Australia

London copper near two-month low; outlook sluggish MELBOURNE: London copper hovered near its weakest in two months on Monday as the dollar gained ground and as investors bet that more mine supply would drag on prices for the rest of the year.A long weekend in the United States for the Labor Day holiday was set to keep trading in check."We are cautious about the near-term price outlook for copper and aluminium ... in view of the pending U.S. Fed rate hikes, slower-than-expected ...

Markets - Commodities - Australia

London copper faces 6pc monthly loss in August MELBOURNE: London copper edged up on Wednesday but was set for a monthly drop in August, pushing it into negative territory for the year, while zinc, tin and lead eyed monthly advances.Metals prices rose on limited bargain-hunting but were still under pressure, traders said, with the dollar hovering near a three-week high against a basket of currencies on Wednesday.Upbeat U.S. data enhanced expectations of a near-term rate hike by the Federal Reserve, with a U.S. ...

Markets - Commodities - Australia

Shanghai copper treads water near 2-month lows amid London holiday MELBOURNE: Shanghai copper was stuck near two-month lows on Monday, with the dollar pushed up after comments by the Federal Reserve left the door open to a rate hike this year, while a holiday in London drained the market of direction.The Fed is getting closer to raising interest rates again, the head of the U.S. central bank, Janet Yellen, and other policymakers said on Friday."The volatility seen post the Yellen speech is likely to continue ...

Markets - Commodities - Australia

Wheat drops for 6th session on ample supplies; Egypt demand eyed SYDNEY: US wheat fell for a sixth consecutive session and hovered near a three-week low on Monday, as ample global stocks and a regulatory clamp-down from the world's largest buyer of the grain dragged on prices.Egypt, the world's biggest wheat importer, reinstated on Sunday a controversial ban on wheat shipments containing even the slightest amount of a common grain fungus ergot, baffling traders who had returned to the Egyptian market just last month when the ...

Markets - Commodities - Australia

London copper mired near two-month low as supply mounts MELBOURNE: London copper hovered near a two-month low on Thursday on evidence of mounting supply while nickel weakened after lower shipments to China as markets marked time ahead of a key meeting of central bankers.The dollar was range-bound as major currencies continued to tread water ahead of the global central bankers' gathering in Jackson Hole, Wyoming, at which Federal Reserve Chair Janet Yellen may offer new clues on U.S. monetary policy.Three-month copper on the London ...