05272016Fri
Last update: Fri, 27 May 2016 03am

Europe

Markets - Commodities - Europe

Copper up on short covering but higher dollar limits rise LONDON: Copper rose on Tuesday as traders and funds reversed bets on lower prices though gains were capped by a stronger dollar and uncertainty over demand growth in top consumer China.Benchmark copper on the London Metal Exchange traded up one percent at $4,610 a tonne in official rings, having last week touched a three-month low at $4,540.Copper's failure to fall below support in the $4,525/$4,575 area was the trigger for cutting short positions and going long, traders said. They expected the upside to be capped at $4,630/$4,640, near the high seen on May 20.Growing expectations the U.S. Federal Reserve will raise rates in June have boosted the dollar, making commodities priced in the U.S. currency more expensive for buyers using other currencies.The focus is also on China, which accounts for nearly half of global copper demand estimated at about 22 million tonnes this year."In the short term, copper will depend ...

Markets - Commodities - Europe

Copper hangs near three-month lows as dollar holds strong MELBOURNE: London copper held near its lowest in three months on Tuesday, pressured by a firmer US dollar following comments by Federal Reserve officials that have bolstered expectations of a June rate hike. The Fed is on track to raise rates in June or July, and will continue with even more hikes next year given US economic strength, a top Fed official said on Monday."In addition to a less accommodative rate environment that should continue ...

Markets - Commodities - Europe

EU crop monitor holds wheat yield forecast steady PARIS: The European Union's crop monitoring service on Monday left unchanged its forecast for above-average yields in this year's EU soft wheat harvest, pointing to broadly favourable growing conditions despite some cold, wet spells. The MARS service kept its estimate of the soft wheat yield in the 28-country bloc at 6.11 tonnes per hectare (t/ha).This was 2.6 percent below the level seen last year, when the EU reaped a record harvest, but 4.8 percent above ...

Markets - Commodities - Europe

Copper slips as US rate rises come into view LONDON: Copper prices fell on Monday towards the three-month lows hit last week as expectations that the US Federal Reserve will raise interest rates in June reinforced worries about weak demand growth in top consumer China. Benchmark copper on the London Metal Exchange closed down 0.4 percent at $4,562 a tonne, having last week touched $4,540, its lowest since the middle of February. Higher US rates could mean a stronger dollar, which has a negative ...

Markets - Commodities - Europe

Brazil sugar flows to Myanmar seen rising as Indian exports abate LONDON: Brazilian low quality white sugar flows are expected to increase to Myanmar, believed to be a gateway for sugar smuggled into China, as Indian sweetener exports fall. Surging domestic sugar prices in India mean that Indian mills will increasingly spurn the export market, traders say. Availability of Thai sugar is also thin due to hefty recent Chinese demand for Thai whites and prolonged dry weather in the number 2 exporter which cut yields, boosting ...

Markets - Commodities - Europe

North Sea Crude-Forties slides as French strikes shut refineries LONDON: Forties differentials slid to their lowest in over a week on Monday, under pressure from the amount of unwanted crude in the region and from a strike in France that knocked out much of the country's refining capacity. France's Total, which operates five of the eight refineries in the country, has started the process of shutting down three - at Normandy, Donges and Feyzin. The FO union said on Monday its members had voted ...

Markets - Commodities - Europe

EU wheat eases with US prices, crop weather watched PARIS: Paris wheat futures edged down on Monday as lower US prices outweighed weakness in the euro that was supporting strong end-of-season export demand for European wheat. Volumes on Euronext were light and prices held in their recent range as the traders monitored weather news and awaited a clearer picture for this summer's harvests. September milling wheat on Paris-based Euronext settled down 0.50 euro, or 0.3 percent, at 163.00 euros a tonne. It remained within ...