05282016Sat
Last update: Sat, 28 May 2016 05am

Australia

Markets - Commodities - Australia

London copper edges lower; China optimism, oil lend support MELBOURNE: London copper slipped on Tuesday, but losses were limited as a slew of supportive economic signals out of China painted an encouraging picture for demand, and risk appetite improved after a strong performance by the oil market.China's leaders sound more confident that the world's second-largest economy has arrested a slide in growth to quarter-century lows, after industrial and housing gauges most recently surprised to the upside last week."There seems to be a general wave of more positive sentiment across the commodity asset class as a whole, largely driven by generally positive data in China, and also interestingly by moves in markets like oil," said analyst Mark Keenan of Societe Generale in Singapore."There seems to be a widespread consensus that the low in the oil market is in place, and that is quite an important foundation in the asset class for people to start to considering increasing allocation to commodities," ...

Markets - Commodities - Australia

London copper heads for biggest weekly rise in six weeks MELBOURNE: London copper was steady on Friday, but was on track to post its biggest weekly rise in six weeks on signs that growth in China could be stabilising after first quarter growth hit forecasts and other indicators surprised to the upside. China's economy grew 6.7 percent in the first quarter from a year earlier, meeting expectations and providing additional evidence that a slowdown in the world's second-largest economy may be bottoming out. "It's another ...

Markets - Commodities - Australia

Copper edges back from 2-week highs, China optimism supports MELBOURNE: London copper eased on Thursday, but prices did not stray far from near two-week highs on the back of this week's better-than-expected Chinese trade data, which has raised hopes that the world's No. 2 economy may be stabilising. Asian markets were still basking in the afterglow of Chinese exports that jumped 11.5 percent year-on-year in March, the first increase since June and well above market forecasts. "The proof is in the pudding. We've seen ...

Markets - Commodities - Australia

London copper hits highest in nearly 2 weeks as China imports surge MELBOURNE: London copper hit its highest in almost a fortnight on Wednesday and Shanghai metals surged as strong Chinese copper imports in March built on gains fueled by a falling dollar. China's March exports blew past analyst expectations, rising 11.5 pct from a year earlier, the first increase since June and the largest rise since Feb 2015, adding to encouraging signals in the world's second-biggest economy. China's copper imports shot up by more than a ...

Markets - Commodities - Australia

London copper hits one-month low as support crumbles MELBOURNE: London copper dropped to a one-month low on Thursday, as simmering demand concerns undermined prices that, having broken a key chart support, came under further selling pressure.Prices fell through support around $4,770 a tonne to the weakest since early March. Traders and analysts said there was no clear reason behind the move, but break-in support had triggered technical selling."Copper fell below $4,750 which triggered further selling pressure," said analyst Eugen Weinberg at Commerzbank.Copper prices ...

Markets - Commodities - Australia

London copper hits more than two-week low on slowdown worries MELBOURNE: London copper slipped to a more than two-week low on Wednesday on simmering concerns over global economic growth, although a softer dollar after the U.S. Federal Reserve chair stressed the need for caution on interest rate hikes checked losses.Fed Chair Janet Yellen said the U.S. central bank should proceed only cautiously as it looks to raise rates, pushing back on a handful of her colleagues who suggested another move may be just around the ...

Markets - Commodities - Australia

London copper slips but signs of China housing recovery support MELBOURNE: London copper edged lower on Wednesday as the dollar held firm but was underpinned by signs of a revival in China's housing market, with trade beginning to tail off ahead of Easter holidays later this week.Asian markets were consolidating gains on the back of a brightening economic outlook, despite a spike in risk aversion after several bomb blasts in Brussels.On a fundamental basis, supply cuts by firms like Glencore and Freeport McMoRan will help ...