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

Australia

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 Metal Exchange was little changed at $4,637 a tonne at 0727 GMT, following 1.7-percent loss in the previous session, when it fell to its weakest since July 24.Shanghai Futures Exchange copper slipped 1.2 percent, paring an early loss of 2 percent, to 36,370 yuan ($5,465) a tonne.LME copper stocks jumped by 14,625 tonnes, the latest data showed, bringing total stocks above 250,000 tonnes for the first time since November 2015. Stocks have shot up by ...

Markets - Commodities - Australia

Iron ore miner Fortescue eyes dividend rise as profit leaps SYDNEY: Australia's Fortescue Metals Group Ltd, the world No. 4 iron ore producer, reported a tripling of its annual net profit on Monday to nearly $1 billion and said it could shoulder a big jump in future dividend payouts. Fortescue surpassed analysts' forecasts by boosting its final dividend by 500 percent to A$0.12 ($0.90) a share for fiscal 2016, taking its total payout for the year to 36 percent of net profit.With iron ore prices ...

Markets - Commodities - Australia

London nickel sinks on profit-taking, copper steady MELBOURNE: London nickel fell on Thursday from a one-year high hit in the previous session as traders booked profits on the near completion of a Philippine mine review, while copper held steady not far from four-week lows.Nickel and zinc contracts on the London Metal Exchange rallied on Wednesday to their highest since 2015 as a weaker dollar and a greater risk appetite spurred buying in the metals that have the brightest fundamental outlooks for this ...

Markets - Commodities - Australia

Australia monthly wheat exports to soar, easing worries over slow sales SYDNEY: Australian wheat exports in August look set to hit an eight-month high as the lowest prices in a decade draw Southeast Asian millers to market, easing worries that the fourth-biggest seller would fail to meet official forecasts for the season. Exports will hit 1.4 million tonnes in August, port shipping data shows, a rise of nearly 30 percent from July and the largest business month since December 2015.The jump in Australian exports comes after ...

Markets - Commodities - Australia

Soybeans rise for fifth session on strong demand for US crop SYDNEY: US soybeans rose for a fifth straight session on Tuesday, lingering near a one-week high touched during the previous session, as recent strong export demand for US supplies supported prices.Corn firmed after the US Department of Agriculture (USDA) pegged the condition of the crop below market forecasts, while wheat edged higher.The most active soybean futures on the Chicago Board Of Trade rose 0.1 percent to $9.86 a bushel, after rising 1.1 percent on Monday ...

Markets - Commodities - Australia

Soybeans hit 1-week high on wave of US export deals SYDNEY: US soybeans rose on Monday for a fourth straight session, the longest unbroken rally in nearly four months, as strong export demand pushed the oilseed to a one-week high.Wheat rose more than 0.5 percent, extending gains made last week. Corn edged lower on ample supply expectations.The most active soybean futures on the Chicago Board Of Trade rose 0.8 percent to $9.82-1/4 a bushel by 0403 GMT, having earlier touched $9.89 a bushel - the ...

Markets - Commodities - Australia

Soybeans rise for a second session on demand for US supplies SYDNEY: US soybeans rose for a second session on Thursday, drawing support from international demand for US supplies, though favourable weather forecasts for key producing regions capped the rally.Corn was little changed, under pressure from expectations of silo-bursting supplies, while wheat rose for a second session.The most active soybean futures on the Chicago Board Of Trade rose 0.31 percent to $9.58-1/2 a bushel, having firmed 0.3 percent on Wednesday."The market will be tallying the net ...