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

Australia

Markets - Commodities - Australia

Shanghai aluminium hits 2-year high on coal price surge MELBOURNE: Shanghai aluminium jumped 4 percent to its highest in more than two years on Wednesday, tracking higher coal prices, and a broader reaction to China's steel capacity cuts, along with an improving outlook for the global economy.Coal shortages in China after government-led capacity cuts that shut down many mines spurred prices of the fuel, including coking coal and coke used in steelmaking.Chinese iron ore futures hit their highest in more than two years as a surge in coal prices lifted the demand for higher grade iron ore in order to boost efficiency and use less coal."Once the coal and steel prices rise, which is very closely related to real economy, then people start to say hey, what about the implication for the base metals?" said analyst Helen Lau of Argonaut Securities in Hong Kong.Lau said aluminium production costs were boosted by rising prices of input coal, and as tighter ...

Markets - Commodities - Australia

London copper looks through dollar strength; tight China market supports MELBOURNE: London copper climbed on Monday after supply in China's domestic market tightened, more than offsetting a stronger dollar and expectations of ample supply next year.Global markets are bracing for a slew of data this week that may yield more insight into metals demand, including third quarter U.S. GDP and purchasing managers' index (PMI) data from several developed economies."We may have a non-seasonal better pricing going into the end of the year because of the ...

Markets - Commodities - Australia

London copper marks time as US presidential debate unfolds MELBOURNE: London copper traded little changed on Thursday in trade marked by low volumes as the final US presidential debate got underway, while China's steps to cool its real estate market, a key metals user, also dampened buying interest.China's economy expanded at a steady 6.7 percent in the third quarter, partly fuelled by red-hot growth in property prices, which Beijing is now taking steps to cool down.China's Guangzhou city will step up its monitoring of ...

Markets - Commodities - Australia

LME copper drifts as China growth hits forecasts but property may cool MELBOURNE: London copper drifted on Wednesday, with China's economic growth meeting expectations in the third quarter but an impending slowdown in real estate growth painting a mixed outlook for metals demand. China's economy grew 6.7 percent in the third quarter from a year earlier, steady from the previous quarter, boosted by factors such as increased government spending. Real estate investment growth, a bellwether of metals demand, beat expectations, although cities' measures to restrict home sales ...

Markets - Commodities - Australia

London copper supported by dollar, deficit underpins nickel MELBOURNE: London copper edged higher on Tuesday as the dollar eased from seven-month highs, while nickel found some support from data that showed a drop in mine supply.Federal Reserve Vice Chairman Stanley Fischer said on Monday that economic stability could be threatened by low interest rates, but it was "not that simple" for the Fed to hike, helping to drag on the dollar."Copper is being driven more by the global macro at the minute, particularly ...

Markets - Commodities - Australia

London copper climbs off one-month low following Fed comments MELBOURNE: London copper held above a one-month low on Monday after remarks by the Federal Reserve chair suggested the U.S. central bank may stick with loose monetary policy for longer, which shored up investor appetite for commodities.Remarks by Federal Reserve Chair Janet Yellen on Friday suggested she may prefer to keep an easy monetary policy stance for a long time even if inflation exceeds its 2 percent target, inspiring a greater appetite for risk.That helped ...

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 ...