09252016Sun
Last update: Sun, 25 Sep 2016 07am

Australia

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. payrolls report on Friday also in focus. A stronger dollar dents commodity demand by making the asset class less affordable for those paying with other currencies."The pullback in commodities is likely to continue in the short term with a stronger U.S. dollar and weaker fundamentals reducing investor appetite," ANZ said in a report.London Metal Exchange copper had climbed 0.1 percent to $4,612 a tonne by 0720 GMT, after plumbing its weakest since June 24 at ...

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 ...

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 ...