Benchmark three-month copper on the London Metal Exchange was up 0.2% to $14,465 per metric ton as of 0930 GMT and on course for a monthly rise of around 1.2%. It has gained around 8.2% in the third quarter, having hit a record high of $14,875 on September 10.

Activity in China’s copper-intensive manufacturing sector improved in September, with the official purchasing managers’ index rising to 50.1 from 49.8 in August. A private RatingDog survey showed factory activity expanded at a faster pace: its PMI measure rose to a five-month high of 52.1 from 51.5.

Pre-holiday demand continued to drain copper in Shanghai Futures Exchange warehouses, as stocks declined by 17.8% from last week to 38,744 tons, the lowest since January 2024.

The ShFE will close from Thursday for China’s National Day holiday, reopening on October 8.

Copper is finding support from expectations of a relatively tight market balance over the coming quarters, said ING commodities strategist Ewa Manthey.

“While uncertainty around global growth and trade policy remains a consideration, structural demand trends and constrained supply growth should help keep prices well supported through Q4,” she added.

The domestic premium for physical copper in China has slipped from last week’s peak of 1,375 yuan ($205) a ton to 1,050 yuan a ton, but the Yangshan premium a gauge of appetite for imported copper – rose slightly to $119 a ton.

Elsewhere, aluminium edged up 0.1% to $3,217 a ton, zinc fell 0.3% to $3,856.50, lead lost 0.3% to $1,893, nickel climbed 0.5% to $16,030 and tin dipped 0.1% to $54,005.

The surge in sunflower oil imports is expected to reduce soyoil purchases by 10.7% to 5 million tons in the next marketing year starting from November 1, said Angshu Mallick, president of the Solvent Extractors’ Association of India (SEA).

“Because of the duty cut, sunflower oil is now more affordable for consumers. The duty reduction is expected to boost consumption,” Mallick said on the sidelines of the Globoil conference.

India last week cut the basic import duty on crude sunflower oil to zero from 10%.

India’s August soyoil, palm oil imports rise on stocking

Palm oil imports in the new year are likely to remain steady at around 8 million tons, although purchases could be affected by rising prices amid concerns over supplies due to the El Niño weather pattern, he said.

Palm oil could trade at a premium to soyoil in 2027 as El Niño threatens production and rising biodiesel demand in top exporter Indonesia tightens supplies, Eddy Martono, chairman of the Indonesian Palm Oil Association, said on Tuesday.

India meets nearly two-thirds of its vegetable oil demand through imports, mainly palm oil, soyoil and sunflower oil from Malaysia, Indonesia, Argentina, Russia and Ukraine.

India’s total vegetable oil imports are likely to remain largely steady at 16.5 million to 17 million tons in the 2026/27 marketing year, although purchases could rise by 1 million tons if lower rainfall affects the domestic rapeseed crop, he said.

Rapeseed is the main winter-sown oilseed crop in India with an oil content of nearly 40%, and typically plays a key role in determining the country’s edible oil supplies.

The northwestern state of Rajasthan, which accounts for nearly half of India’s rapeseed production, received 22% less rainfall than average during the June-September monsoon season.

According to the report, two of Pakistan’s LNG import terminals have been mostly idle since March, as flows from Qatar have halted due to the ongoing conflict in the Middle East.

It said existing regulations make it difficult for buyers, other than state-owned Pakistan LNG Limited, to procure cargoes from the spot market.

Pakistan secures another Qatari LNG cargo

According to Bloomberg, the Petroleum Division of the Ministry of Energy has submitted a proposal to greatly increase the scope to auction unused capacity at the terminals and allow private companies to import LNG directly.

Pakistan is currently facing significant challenges in securing LNG deliveries due to geopolitical disruptions and high spot market prices.

Pakistan heavily depends on its long-term supply deals with Qatar for stable and more affordable LNG.

However, renewed hostilities in the Strait of Hormuz led to the cancellation of a Qatari LNG shipment scheduled for July 2026 and prompted Qatar to declare force majeure, disrupting LNG imports. This situation forced Pakistan to seek emergency supplies and look for alternative fuels or expensive spot cargoes.

Earlier this month, Pakistan’s Petroleum Minister Ali Pervaiz Malik warned that the price of fuel could rise to Rs1,000 per litre if a shortage develops, while saying there was currently no fuel shortage in the country.

Benchmark three-month copper on the London Metal Exchange rose 0.23% to $14,471 a metric ton by 0330 GMT, while the most-traded November copper contract on the Shanghai Futures Exchange gained 0.21% to 109,530 yuan ($16,340.20) a ton, set to end a week shortened by the upcoming long holiday 0.52% lower.

China’s official manufacturing purchasing managers’ index rose to 50.1 in September from 49.8 in August.

A private RatingDog survey showed factory activity expanded at a faster pace: its PMI measurerose to a five-month high of 52.1 from 51.5.

Trading was subdued before China’s National Day holiday.

SHFE will close from Thursday and reopen on October 8.

Physical copper demand also eased heading into the break.

The domestic premium continued to weaken from the peak set on Tuesday to 1,050 yuan a ton.

But the Yangshan copper premium, a gauge of Chinese consumers’ appetite for imported materials, rose slightly to $119 a ton.

The US dollar remained firm, heading for a roughly 2% monthly rise, supported by higher US yields.

A stronger dollar makes greenback-priced metals more expensive for holders of other currencies. Oil also traded firm, with Brent crude hovering above $100 a barrel, keeping inflation concerns and expectations of another rate hike by the US Federal Reserve alive.

Among other LME metals, aluminium edged up 0.09%, zinc fell 0.23%, lead was flat, nickel gained 0.23% and tin dropped 0.93%.

On the SHFE, aluminium fell 0.35%, zinc lost 0.26%, lead declined 0.12%, nickel dropped 1.00% and tin was flat.

China is set to lower tariffs on a broad range of US farm products, but soybeans, its biggest US agricultural import, were excluded from the tariff reduction list following the talks between Chinese President Xi Jinping and US President Donald Trump.

Private oilseed processors in China, the world’s biggest soybean importer, have covered most of their needs through the Lunar New Year in early February with supplies from Brazil, Argentina and state reserves, traders and crushers said.

“We have booked for all of October and much of November shipments from Brazil and Argentina,” said a senior executive at a Chinese oilseed processing company.

“Most of these cargoes will arrive around the high demand Chinese New Year period. We are not interested in making further purchases as these will incur losses.”

Chinese state-run companies have bought around 13.7 million metric tons of US soybeans, which are currently being harvested, following a trade deal between the two countries in May, said three Asia-based agricultural traders who spoke on condition of anonymity.

However, private crushers have taken only South American shipments, the traders said.

US soybeans still face an additional 10% tariff since the start last year of a trade war between Beijing and Washington, making them uneconomical for commercial buyers.

Brazilian soybeans were quoted this week at par with US cargoes, excluding the tariffs, at around $590 per ton, including cost and freight, according to the senior Chinese crushing executive and an Asian-based trader.

Brazilian beans typically have a higher oil content, making them more attractive to crushers, they said.

Benchmark Chicago soybean futures are down 1.5% so far this week with the market expected to face further losses as the US harvest increases toward its peak with China set to slow its purchases.  

Sluggish demand, weak margins

Crushing margins for soybeans scheduled for November shipment from the US Pacific Northwest and the US Gulf are 120 yuan ($17.90) to 200 yuan ($29.83) per ton in the red and about minus 120 yuan per ton for Brazilian soybeans, said Rosa Wang, an analyst at Shanghai JC Intelligence.

Crushers in China’s main processing hub of Rizhao were making a loss of 33.54 yuan processing a ton of soybeans on Tuesday, according to LSEG data. Import demand has weakened as crushing plants hold high inventories and anticipate softer fourth-quarter feed demand, with sow herds shrinking amid government efforts to curb overcapacity in the hog industry.

Soybean inventories at 111 Chinese crushing plants reached 7.96 million tons in the week of September 25, according to consultancy Mysteel, the highest in at least 15 years.

In Sinograin’s latest auction of imported soybeans, only 37.3% of the 514,000 tons offered were sold, Mysteel data showed, underscoring weak buying appetite in the market.

Chinese buyers booked around 50 soybean cargoes in the first three weeks of September, the fewest in four years, said Eduardo Vanin, senior agriculture strategist at Marex in Curitiba, Brazil, adding that state-run COFCO and Sinograin accounted for about 30 US cargoes, while private buyers booked the rest from Brazil and Argentina. “Unless margins recover, commercial buyers are unlikely to book more cargoes from overseas,” said Johnny Xiang, founder of AgRadar Consulting based in Beijing.

“If supplies tighten, buyers are more likely to turn to reserve auctions or idle plants for maintenance than import more beans.”

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange rose 5 ringgit, or 0.11%, to 4,629 ringgit ($1,135.67) a metric ton by 0236 GMT, after posting its lowest close in 10 weeks on Tuesday.

The contract has fallen 5.4% so far this month.

The highest activity was recorded in Gold (PKR 27.170 billion) followed by COTS (PKR 5.409 billion), Crude Oil (PKR 4.320 billion), Silver (PKR 3.037 billion), NSDQ100 (PKR 2.575 billion), Copper (PKR 1.440 billion), SP500 (PKR 701.441 million), Platinum (PKR 554.386 million), Brent (PKR 279.568 million), Natural Gas (PKR 199.678 million), DJ (PKR 172.704 million), Palladium (PKR 101.441 million), Japan Equity 225 (PKR 73.547 million) and Aluminium (PKR 2.856 million).

In Agricultural commodities, a total of 145 lots were traded, amounting to PKR 1.033 billion.

Copyright Business Recorder, 2026

The Baltic Exchange’s dry bulk freight index fell to a near one-month low on Tuesday, pressured by weaker rates across larger vessel categories.

The main Baltic index, which tracks rates for capesize, panamax and supramax vessels, fell 90 points, or 2.75percent, to 3,178 points, its lowest level since September 1.

The capesize index dropped 248 points, or 4.63percent, to 5,103 points, its lowest since August 26. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, including iron ore and coal, decreased by USD2,249 to USD42,775.

The panamax index shed 12 points, or 0.50percent, to 2,390 points. Average daily earnings for panamax vessels, which usually carry 60,000 to 70,000 tons of coal or grain, fell by USD113 to USD21,507. Among smaller vessels, the supramax index inched up 7 points, or 0.39percent, to 1,797 points, touching its highest level since August 2022.

The Osaka Exchange rubber contract for March delivery was down 0.9 yen, or 0.2percent, at 444.1 yen (USD2.82) per kg. The rubber contract on the Shanghai Futures Exchange for January delivery fell 445 yuan, or 2.29percent, to 19,010 yuan (USD2,835.41) per metric ton. The most active November butadiene rubber contract on the SHFE lost 65 yuan, or 0.42percent, to 15,460 yuan per ton.

The market is undergoing a correction after an unusually rapid rise, bringing prices back to a more normal level, a Singapore-based trader said. Chinese tyre manufacturers extended production halts beyond scheduled inspections into an extended holiday shutdown in mid-to late September, as persistent losses curbed output, analysts from broker Everbright Futures said in a note.

Rising oil prices, however, limited losses. Oil prices rose for a second successive session as lingering concern over Middle East supply disruption brought about by the US-Israeli war on Iran outweighed signs of recovering crude exports from the region. Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. The front-month rubber contract on Singapore Exchange’s SICOM platform for December delivery last traded at 243.8 US cents per kg, down 1.3 percent as of 0700 GMT.

Wheat firmed after falling to a six-week low in the previous session on optimism that diplomatic efforts could ease disruptions to Black Sea grain exports.

“China’s plans to keep tariffs on US soybeans will limit demand for US cargoes just as harvest is starting,” said an oilseed trader in Singapore.

The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.2percent at USD12.90-1/2 a bushel by 0252 GMT. The contract hit its weakest point since August 31 on Monday. Wheat edged 0.1percent higher to USD6.89-1/4 a bushel, having dropped to its lowest point since August 19 in the previous session. Corn rose 0.3percent to USD5.24-1/4 a bushel.

China is set to lower tariffs on a broad range of US agricultural products, including corn, wheat, meat and dairy, but soybeans, its biggest agricultural import from the US, were omitted from a tariff-reduction list jointly issued by China’s commerce ministry and the White House.

The announcement implies that US soybeans will still face an additional tariff of 10percent, which traders have warned is too high for private importers to absorb, even as Chinese state buyers have stepped up purchases.

The wheat market remained focused on diplomatic efforts to ease disruptions to Black Sea exports, traders said, even as daily attacks continued in Russia’s 4-1/2-year war with Ukraine.

Ukrainian President Volodymyr Zelenskiy said on Friday that India, Turkey, Egypt and other Middle Eastern countries were taking part in talks on unblocking shipping in the Black Sea, while Turkey has submitted proposals to Moscow on the security of shipping.

Russia could quickly restart up to 80percent of its grain terminal capacity in the Black Sea if diplomatic efforts to halt mutual attacks result in a ceasefire, a Reuters analysis of industry data showed.

US farmers have harvested 18percent of the corn crop and 17percent of soybeans, matching their average pace over the past five years, the US Department of Agriculture said on Monday.

Crop-monitoring service MARS lowered its yield forecasts on Monday for maize and sugar beet in the European Union, citing that rainfall had returned too late to reverse damage from summer heat and drought in the bloc.

COFFEE Arabica coffee edged 0.1percent lower at USD2.8845 per lb

at 0933 GMT, after closing up 3.6percent on Monday. Brazil’s coffee exports are on track to set a record in September, with shipments to date 34percent higher than a year ago.

Brazil is wrapping up what is set to be a record 2026 coffee harvest, which is putting coffee under pressure overall. However quality concerns mean actual availability might disappoint, while technical signals are also prompting some selling. Robusta coffee slipped 0.5percent to USD3,370 a metric ton. COCOALondon cocoa rose 0.8percent to £4,211 pounds per ton, having closed down 0.7percent on Monday. Heatwaves in Europe this summer and higher chocolate prices dented demand, Lindt & Spruengli said as it cut its 2026 sales forecast for a second time this year.

A Kuala Lumpur-based trader noted, “Bearish market sentiment on expectations of high endstocks due to high production with lower export figures for September.” Exports of Malaysian palm oil products for September 1-25 likely fell between 15.1percent and 24.3 percent from a month earlier, cargo surveyors Intertek Testing Services and AmSpec Agri Malaysia said.

Malaysian palm oil inventory in August-end had climbed to the highest level in eight months. Dalian’s most-active soyoil contract fell 0.09percent, while its palm oil contract shed 1.14percent.

Soyoil prices on the Chicago Board of Trade were up 0.44percent. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market.

The contract still targets a range of 4,588 ringgit to 4,622 ringgit per ton, as suggested by a projection analysis, Reuters technical analyst Wang Tao said.

Palm oil could trade at a premium to soyoil in 2027 as El Niño threatens production and rising biodiesel demand in top exporter Indonesia tightens supplies, a senior industry official told Reuters on Tuesday.

Indonesia’s palm oil exports in July stood at 3.19 million tons, down 9.87percent from a year earlier, palm oil association GAPKI said.

Spot gold was up 1.1percent at USD4,157.39 per ounce as of 9:30 a.m. ET (1330 GMT).

The session low for Tuesday was USD4,112.97, just over USD2 above the more than seven month-low of USD4,110.55 hit on Monday. US gold futures gained 0.5percent to USD4,189.60.

Today’s move is “just a correction from yesterday’s losses. I still think there’s some fairly significant headwinds for gold out there,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.

Gold fell nearly 4percent in the previous session, and was at its lowest level since August 5, pressured by a higher dollar, Treasury yields, energy prices, and inflationary concerns that reinforced rate hike expectations.

“The heightened expectations for more Fed rate hikes are keeping the dollar up, yields remain elevated. I think the upside might be somewhat limited today and market’s going to stay focused on the PCE inflation data tomorrow and the jobs data on Friday,” Grant said. The dollar rose, testing several-month highs, underpinned by volatile oil prices and a recent rapid climb in Treasury yields.

A higher dollar makes greenback-priced bullion more expensive for overseas buyers, while higher Treasury yields increase the opportunity cost of non-yielding gold.

Rising energy prices, meanwhile, can feed into inflation and force central banks to keep interest rates higher to combat price pressures.

Gold is traditionally considered an inflation hedge, but tends to lose its appeal to yield-bearing assets in a high-interest-rate environment.

Markets currently see a 70percent probability of a Fed rate hike in October and a 95percent chance of an increase in December, according to the CME’s FedWatch Tool.

Investors await key economic data, including ADP employment and the PCE data due on Wednesday, and non-farm payrolls on Friday. Among other metals, spot silver eased 0.1percent to USD60.89, platinum slipped 1.9percent to USD1,684.95, while palladium lost 0.3percent to USD1,210.70.

Similarly, 10-gram gold was sold at Rs378,631 after it accumulated Rs3,686, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Tuesday, gold price per tola reached Rs437,336 after a decline of Rs800 during the day.

The international rate of gold increased by $43 to reach $4,191 per ounce.

Meanwhile, the price of silver also increased by Rs20 to reach Rs6,578 per tola.

Benchmark three-month copper on the London Metal Exchange edged down 0.1percent to USD14,394 per metric ton by 0915 GMT. It lost 1.4percent on Monday, hitting its lowest since September 17 on weak Chinese industrial profits data.

Falling industrial metal prices are reflecting signs of deteriorating economic growth because oil above USD100 a barrel is hurting activity everywhere, said Panmure Liberum analyst Tom Price, adding that investors were realising that the Iran war is not going away. “Copper is the only one that’s holding up with some sort of upside risk. And that’s really because the global market has been starved of inventory because it continues to be transferred into the US,” Price said.

LME copper stocks dipped by 875 tons to 251,350 tons, although only around half are available to the market. In the US, COMEX inventories have risen for six straight days to over 700,000 tons for the first time as the possibility of an import tariff next year remains. The dollar index hovered near a two-month high, making greenback-denominated metals more expensive for investors using other currencies. Markets were pricing in more than a 70percent chance of another Federal Reserve rate increase in October, which would be negative for copper.

Traders are also awaiting China’s manufacturing purchasing managers’ data due later this week for further signals on metals demand. Restocking activity ahead of China’s week-long National Day holiday, set to begin on Thursday, has largely been completed, analysts at Chinese broker Galaxy Futures said.

Among other LME metals, aluminium fell 0.5percent to USD3,236 a ton, zinc slipped 0.1percent to USD3,848.50, lead lost 0.2percent to USD1,898, nickel shed 0.8percent to USD16,050, touching its lowest since September 17, and tin was flat at USD53,570.

Benchmark three-month copper on the London Metal Exchange was up 0.2% to $14,447 per metric ton in official open outcry activity. It lost 1.4% on Monday, hitting its lowest since September 17 on weak Chinese industrial profits data.

Despite signs of deteriorating economic growth due to the Iran war and oil above $100 a barrel, copper still has some upside risk, said Panmure Liberum analyst Tom Price.

“And that’s really because the global market has been starved of inventory because it continues to be transferred into the US,” Price said, adding that underperforming production in Chile was a secondary driver.

LME copper stocks dipped by 875 tons to 251,350 tons, although only around half are available to the market. In the US, COMEX inventories have risen for six straight days to over 700,000 metric tons for the first time as the possibility of an import tariff next year remains.

In Chile, workers at two unions at Antofagasta’s Centinela copper mine rejected a collective contract offer on Monday, paving the way for a strike. Meanwhile, one of the unions at the giant Escondida mine last week rejected BHP’s attempt to delay contract talks.

The dollar tested several-month highs on Tuesday, making greenback-denominated metals more expensive for investors using other currencies. Markets were pricing in more than a 70% chance of another Federal Reserve rate increase in October, which would be negative for base metals.

Traders are also awaiting manufacturing purchasing managers’ data in China this week for further demand signals. Restocking ahead of the country’s week-long National Day holiday from Thursday has largely been completed, analysts at Galaxy Futures said.

Aluminium fell 0.6% to $3,231 a ton, zinc gained 0.5% to $3,870, lead edged up 0.2% to $1,906, nickel shed 0.7% to $16,065, touching its lowest since September 16, and tin added 0.4% to $54,025.

Similarly, 10-gram gold was sold at Rs374,945 after it fell by Rs686, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Monday, gold price per tola reached Rs438,136 after a decline of Rs12,800 during the day.

The international rate of gold declined by $8 to reach $4,148 per ounce.

Meanwhile, the price of silver also decreased by Rs20 to reach Rs6,558 per tola.

Benchmark three-month copper on the London Metal Exchange rose 0.34% to $14,461.50 a metric ton, while the most-traded copper contract on the Shanghai Futures Exchange edged up 0.09% to 109,530 yuan ($16,335.08) a ton by 0332 GMT.

LME copper fell 1.4% on Monday, touching $14,343, its lowest in more than ten days, after weak Chinese industrial profits data added to pressure from rising oil prices and a stronger dollar.

Traders are also awaiting China’s manufacturing purchasing managers data due later this week for further signals on metals demand.

Meanwhile, restocking activities before China’s seven-day National Day holiday that’s set to begin on Thursday are slowing, adding to demand worry.

“Downstream copper users in China have largely completed pre-holiday restocking and are buying only as needed after the recent price decline,” analysts at Chinese broker Galaxy Futures said.

Oil prices and the US dollar traded strong.

Brent crude hovered above $106 a barrel, extending gains as concerns over Middle East supply disruptions persisted.

Higher oil prices have strengthened inflation concerns and expectations that US interest rates could stay higher for longer.

The dollar index hovered near a two-month high, supported by rising Treasury yields.

Markets were pricing in more than a 70% chance of another Federal Reserve rate increase in October.

Higher interest rates associated with slower economic activity typically crimp demand for copper.

Among other LME metals, aluminium rose 0.43%, zinc gained 0.26% and lead added 0.34%, while nickel and tin both slipped 0.09%.

On the SHFE, aluminium rose 0.02%, zinc gained 0.42%, lead advanced 0.43% and tin climbed 0.49%, while nickel dropped 0.73%.

Wheat firmed after falling to a six-week low in the previous session on optimism that diplomatic efforts could ease disruptions to Black Sea grain exports.

“China’s plans to keep tariffs on US soybeans will limit demand for US cargoes just as harvest is starting,” said an oilseed trader in Singapore.

The most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.2% at $12.90-1/2 a bushel by 0252 GMT.

The contract hit its weakest point since August 31 on Monday.

Wheat edged 0.1% higher to $6.89-1/4 a bushel, having dropped to its lowest point since August 19 in the previous session.

Corn rose 0.3% to $5.24-1/4 a bushel.

China is set to lowertariffs on a broad range of US agricultural products, including corn, wheat, meat and dairy, but soybeans, its biggest agricultural import from the US, were omitted from a tariff-reduction list jointly issued by China’s commerce ministry and the White House.

The announcement implies that US soybeans will still face an additional tariff of 10%, which traders have warned is too high for private importers to absorb, even as Chinese state buyers have stepped up purchases.

The wheat market remained focused on diplomatic efforts to ease disruptions to Black Sea exports, traders said, even as daily attacks continued in Russia’s 4-1/2-year war with Ukraine.

Ukrainian President Volodymyr Zelenskiy said on Friday that India, Turkey, Egypt and other Middle Eastern countries were taking part in talks on unblocking shipping in the Black Sea, while Turkey has submitted proposals to Moscow on the security of shipping.

Russia could quickly restart up to 80% of its grain terminal capacity in the Black Sea if diplomatic efforts to halt mutual attacks result in a ceasefire, a Reuters analysis of industry data showed.

US farmers have harvested 18% of the corn crop and 17% of soybeans, matching their average pace over the past five years, the US Department of Agriculture said on Monday.

Crop-monitoring service MARS lowered its yield forecasts on Monday for maize and sugar beet in the European Union, citing that rainfall had returned too late to reverse damage from summer heat and drought in the bloc.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was down 35 ringgit, or 0.75%, at 4,629 ringgit ($1,134.56) a metric ton by the midday break.

A Kuala Lumpur-based trader noted “bearish market sentiment on expectations of high endstocks due to high production with lower export figures for September.”

Exports of Malaysian palm oil products for September 1-25 likely fell between 15.1% and 24.3% from a month earlier, cargo surveyors Intertek Testing Services and AmSpec Agri Malaysia said.

Malaysian palm oil inventory in August-end had climbed to the highest level in eight months. Dalian’s most-active soyoil contract fell 0.23%, while its palm oil contract shed 1.04%.

Soyoil prices on the Chicago Board of Trade were up 0.72%.

Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market.

Oil prices rose for a second successive session as lingering concern over Middle East supply disruption brought about by the US-Iran conflict outweighed signs of recovering crude exports from the region.

Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.

Palm oil still targets a range of 4,588 ringgit to 4,622 ringgit per ton, as suggested by a projection analysis, Reuters technical analyst Wang Tao said.

Indonesia’s palm oil exports in July stood at 3.19 million tons, down 9.87% from a year earlier, palm oil association GAPKI said.

The yellow metal prices reached Rs438,136 per tola and Rs375,631 per 10 grams after the fresh plunge by Rs12,800 and Rs10,973, respectively, All Pakistan Sarafa Gems and Jewellers Association said.

World gold bullion market lost USD 128, falling significantly to USD 4,156 per ounce while silver registered a notable decline of USD 3.25, settling at USD 61 per ounce, it added.

Domestic market was also affected by the global bullion recession, where silver was trading for Rs6,578 per tola and Rs5,639 per 10 grams, down by Rs325 and Rs279, respectively, the association said.

It is worth noting that the open market may sell gold and silver at different prices as compared to those announced by the association according to the interbank exchange rates.

Copyright Business Recorder, 2026

The Osaka Exchange (OSE) rubber contract for March delivery was down 7.1 yen, or 1.57percent, at 445 yen (USD2.82) per kg. The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery fell 150 yuan, or 0.77percent, to 19,275 yuan (USD2,870.31) per metric ton.

The most-active November butadiene rubber contract on the SHFE rose 140 yuan, or 0.91percent, to 15,515 yuan per ton. Tyre demand will keep declining during maintenance shutdowns over China’s long holiday, keeping rubber demand weak in the short term, analysts from broker Huatai Futures said in a note.

Rubber prices broke through multi-year highs last week, though the 14-day relative strength index at 73.4percent signals overbought conditions and occasional corrections are expected, Japan Exchange Group said in a report on Monday.

Brent crude rebounded more than 3percent on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz, keeping tensions in the Middle East elevated.

The Baltic Exchange’s dry bulk freight index fell to a near four-week low on Monday, pressured by weaker rates across larger vessel segments.

The main Baltic index, which tracks rates for capesize, panamax and supramax vessels, fell by 158 points, or 4.61percent, to 3,268 points, its lowest level since September 1.

The capesize index dropped 433 points, or 7.49percent, to 5,351 points. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, including iron ore and coal, decreased by USD3,930 to USD45,024. The panamax index shed 5 points, or 0.21percent, to 2,402 points.

Average daily earnings for panamax vessels, which usually carry 60,000 to 70,000 tons of coal or grain, fell by USD42 to USD21,620 Among smaller vessels, the supramax index inched up 4 points, or 0.22percent, to 1,790 points.

Russian wheat export prices declined, in line with global trends last week; analysts have again made revised up estimates for September shipments from Russia, citing increased activity at Baltic ports.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 9 ringgit, or 0.19percent, to 4,663 ringgit (USD1,142.05) a metric ton at closing. The contract traded in a tight range between 4,642 ringgit and 4,720 ringgit, after dropping 4.61percent last week.

A Kuala Lumpur-based trader said the contract was supported by strong crude oil and a weaker ringgit —its currency of trade — “but weak Dalian and Chicago oils cap gains.”

Dalian’s most-active soyoil contract fell 0.84percent, while its palm oil contract lost 1.6percent. Soyoil prices on the Chicago Board of Trade ticked down 0.24percent. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market.

Brent crude rebounded more than 3percent on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit, palm’s currency of trade, eased 0.25percent against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies.

Palm oil may extend losses into a range of 4,588-4,622 ringgit per ton, as suggested by a projection analysis, Reuters technical analyst Wang Tao said.

Exports of Malaysian palm oil products for September 1-25 likely fell between 15.1percent and 24.3percent from a month earlier, cargo surveyors Intertek Testing Services and AmSpec Agri Malaysia said. Indonesia’s palm oil exports in July stood at 3.19 million metric tons, down 9.87percent from the same period of last year, palm oil association GAPKI said on Monday.

China’s industrial profit growth slowed further in August as strength in technology manufacturing amid the AI boom was outweighed by persistently weak domestic demand.

“The key data point weighing on sentiment is China’s August industrial enterprise profits … underscoring that the recovery remains narrow and concentrated in AI-linked and export sectors rather than broad industrial demand,” Britannia Global Markets said in a note.

“For base metals, this matters as it signals that downstream manufacturing appetite remains constrained.” On the technical front, copper’s drop below the 21-day moving average around USD14,430 could mean further losses. The next support level is at the 50-day moving average around USD14,175.

Brent crude oil climbed more than 2percent after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz.

With oil prices nearing USD110 a barrel, traders said the market is focusing on the damage to growth and inflationary pressures which would mean higher interest rates, another headwind for economies. Looking ahead, traders expect surveys of purchasing managers in China’s manufacturing sector due this week to shed light on demand for industrial metals.

Elsewhere, concerns about copper supplies on the LME have again created a premium for the cash over the three-month forward. The premium briefly slipped into a discount earlier this month after a Reuters report raised doubts about whether Trump would impose tariffs on copper imports.

Overall, a rising US dollar, which makes dollar-priced metals more expensive for holders of other currencies, was also weighing on the metals complex.

Aluminium was down 0.5percent at USD3,251.5 a ton, zinc dropped 1.2percent to USD3,851, lead fell 1percent to USD1,910.5, tin retreated 0.7percent to USD53,940 and nickel firmed 0.1percent to USD16,340.

Spot gold was down 3.1percent at USD4,155.67 per ounce, as of 1031 GMT, hitting its lowest since August 5. US gold futures for December delivery fell 3.1percent to USD4,188.10.

The dollar held firm, making greenback-priced bullion more expensive for holders of other currencies, while US Treasury yields extended gains.

“Higher oil prices and the increased probability of further US rate hikes being priced in by market participants are the main drivers behind gold’s recent weakness,” said UBS analyst Giovanni Staunovo. “This backdrop could keep US real yields and the US dollar elevated, raising the opportunity cost of holding non-yielding gold and contributing to further near-term volatility in the precious metal.” Brent crude oil rebounded after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz, keeping tensions in the Middle East elevated. Rising energy costs tend to drive inflation higher by lifting prices across the economy.

Traders see a 70.3percent chance of a Fed rate hike in October, CME’s FedWatch Tool showed. The US central bank earlier this month lifted rates by a quarter percentage point and indicated that additional increases are likely.

On Friday, Cleveland Fed chief Beth Hammack said she is concerned that persistently high inflation risks could condition the American public to accept elevated prices as the norm, adding the central bank cannot let that happen.

Focus is now on a series of US economic releases scheduled for this week, including job openings, the ADP employment report, Personal Consumption Expenditures (PCE) readings and nonfarm payrolls.

Among other metals, spot silver fell 4.6percent to USD61.32 per ounce, platinum declined 2.4percent to USD1,735.95, and palladium lost 3.4percent to USD1,224.39.

The highest activity was recorded in Gold (PKR 24.081 billion) followed by COTS (PKR 4.689 billion), Crude Oil (PKR 3.561 billion), Silver (PKR 2.694 billion), NSDQ100 (PKR 2.284 billion), Copper (PKR 1.262 billion), SP500 (PKR 697.006 million), Platinum (PKR 588.471 million), Natural Gas (PKR 252.221 million), DJ (PKR 172.890 million), Brent (PKR 95.279 million), Japan Equity 225 (PKR 36.850 million) and Aluminum (PKR 1.921 million).

In Agricultural commodities, a total of 262 lots were traded, amounting to PKR 1.456 billion.

Copyright Business Recorder, 2026

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 9 ringgit, or 0.19%, to 4,663 ringgit ($1,142.05) a metric ton at closing. The contract traded in a tight range between 4,642 ringgit and 4,720 ringgit, after dropping 4.61% last week.

A Kuala Lumpur-based trader said the contract was supported by strong crude oil and a weaker ringgit —its currency of trade — “but weak Dalian and Chicago oils cap gains.”

Dalian’s most-active soyoil contract fell 0.84%, while its palm oil contract lost 1.6%. Soyoil prices on the Chicago Board of Trade ticked down 0.24%.

Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market.

Brent crude rebounded more than 3% on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz.

Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.

The ringgit palm’s currency of trade, eased 0.25% against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies.

Palm oil may extend losses into a range of 4,588-4,622 ringgit per ton, as suggested by a projection analysis, Reuters technical analyst Wang Tao said.

Exports of Malaysian palm oil products for September 1-25 likely fell between 15.1% and 24.3% from a month earlier, cargo surveyors Intertek Testing Services and AmSpec Agri Malaysia said.

Indonesia’s palm oil exports in July stood at 3.19 million metric tons, down 9.87% from the same period of last year, palm oil association GAPKI said on Monday.

The offer was believed to have been submitted for around 60,000 tons by trading house Bunge, they said.

The state agency Trading Corporation of Pakistan (TCP) is still considering the offers and no purchase has been reported, traders said, adding a decision is expected in coming days.

Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.

The tender comes at a difficult time for importers, with fighting bringing seaborne Black Sea exports of cheap Russian and Ukrainian wheat to a virtual stop with supplies from alternative origins more expensive.

TCP finalises deals for wheat import

Earlier this month, TCP bought 365,000 tons at $348.83 a ton c&f in a previous tender seeking up to 750,000 tons, before issuing the current tender for another 185,000 tons.

Traders said trading houses submitted the following offers in the latest tender, with tons offered and initially estimated prices in dollars a ton c&f:

Similarly, 10-gram gold was sold at Rs375,631 after it fell by Rs10,973, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Saturday, gold price per tola reached Rs450,936 after a decline of Rs2,100 during the day.

The international rate of gold declined by $128 to reach $4,156 per ounce.

Meanwhile, the price of silver also decreased by Rs325 to reach Rs6,578 per tola.