07312016Sun
Last update: Sun, 31 Jul 2016 05am

Australia

Markets - Commodities - Australia

Iron ore shipments to China up 1pc in Dec-Pilbara Ports SYDNEY: Iron ore shipments to China through Australia's Port Hedland rose 1 percent in December despite the spot price for the steelmaking ingredient dropping to its lowest on record and a gloomy outlook heading into the new year. Shipments to China from the port reached 32.17 million tonnes in December versus 31.73 million tonnes in November, Pilbara Ports Authority figures released on Wednesday showed. For all of 2015, shipments to China rose to 377.88 million tonnes from 343.41 million tonnes in 2014, according to Reuters calculations of port data. "The prospects for iron ore are looking darker than ever, but still more keeps coming out of the ground.It's self-defeating," said Gavin Wendt, an analyst for MineLife in Sydney. The port, the world's largest for exporting iron ore, is used by major suppliers to the sea-traded market such as BHP Billiton and Fortescue Metals Group. BHP is lifting output by 6 ...

Markets - Commodities - Australia

Australia wheat regains Asia market share on competitive prices SINGAPORE: Australian wheat is making a comeback in Asia, with buyers in the region locking in supplies for early 2016, as prices have dropped below that of cargoes from the United States and Canada.Asian buyers, including Indonesia - the region's biggest importer of the grain, have signed deals to take Australian wheat right up to February and are now in the market negotiating deals for March delivery, traders said on Monday."Australia is one of cheapest ...

Markets - Commodities - Australia

Iron ore shipments to China from Port Hedland rise 3pc in Nov-port SYDNEY: Monthly iron ore shipments to China through Australia's Port Hedland rose 3 percent in November amid a sharp weakening in prices for the raw material used in steel production, port data released on Monday showed. Shipments to China, the world's biggest importer, reached 31.73 million tonnes last month versus 30.73 million in October, according to the Pilbara Ports Authority. The port, the world's largest for exporting iron ore, is used by large producers such ...

Markets - Commodities - Australia

Wheat falls for third session as crop condition meets forecasts SYDNEY: US wheat fell for a third session in a row on Tuesday as the US Department of Agriculture found the condition of the winter crop to be in line with market forecasts, further fuelling expectations of ample global supply.Soybeans were unchanged, while corn edged lower.Chicago Board of Trade December wheat futures fell 0.4 percent to $4.92 a bushel after closing down 0.3 percent on Monday.Analysts attributed the weakness to the USDA forecast, coupled with ...

Markets - Commodities - Australia

Wheat set for biggest weekly fall since end-August SYDNEY/PARIS: US wheat dipped on Friday, putting the grain on track for its biggest weekly loss in 2-1/2 months as weak demand for US supplies and ample global stocks dragged on prices.Corn also fell and was poised for its biggest weekly loss in 14 weeks, while soybeans were set to record a fourth straight weekly loss.Chicago Board Of Trade December wheat was 0.20 higher at $4.99 but still 4.6 percent lower for the week, the ...

Markets - Commodities - Australia

London copper subsides below $5,000, eyes six-year low MELBOURNE: London copper lost ground below the $5,000 mark on Monday and was sliding towards six-year lows after China trade data underlined struggling growth in the world's top metals user. China's trade figures disappointed analysts expectations by a wide margin in October, reinforcing views that the world's second-largest economy will have to do more to stimulate domestic demand given softness in overseas markets. "Every week we come in, the prices are worse, the data is ...

Markets - Commodities - Australia

London copper firms on output cut; trade dwindles ahead of holiday MELBOURNE: London copper edged up on Wednesday as traders took heart from an output cut in Chile and a revival in Glencore shares, but volumes shrank ahead of a week-long break in top consumer China."Although individually this cut (in Chile) isn't meaningful, we're starting to see a few - maybe it's a reflection of financial stress in general in the big mining companies," said analyst Daniel Morgan of UBS in Sydney."It's a positive development. It ...