News Archives for Markets - 2021-01-27

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Commodities

Copper to retreat from peaks as China demand eases

Copper seen averaging $7,600/T in 2021.
Aluminium surplus marked up to 1,110,000 T this year.
Analysts flip to 2021 nickel surplus from deficit in pvs poll.

Published 27 Jan, 2021 09:07pm

Commodities

Gold hits more than 1-week low on doubts over stimulus bill, firm dollar

Dollar scales over 1-week high.
Palladium hits over one-month low.
Platinum slips to over two-week low.

Published 27 Jan, 2021 09:05pm

Commodities

Wheat up 4-6 cents, corn up 10-15 cents, soy up 15-20 cents

CBOT March soft red winter wheat last traded up 4-3/4 cents at $6.70 per bushel. K.C. March hard red winter wheat rose 4 cents to $6.45 per bushel.
CBOT March corn was last up 10-1/4 cents at $5.42-1/2 per bushel.

Updated 27 Jan, 2021 11:24pm

Commodities

Argentina works to ensure ample domestic wheat supply amid export cap rumors

We will have a meeting today with the wheat value chain, including farmers, grains handlers and millers.
"We will also meet over the coming days with the government. They do not want to intervene in the market or limit wheat exports, but everything is on the table," Idigoras said.

Updated 27 Jan, 2021 11:31pm

Commodities

China corn imports seen at 25-27mn tonnes in 2020/21

Chinese corn imports could grow to up to 40 million tonnes per year in the coming years, driven by the rebuilding of the country's pig herd, he told the Paris Grain Day conference.

Published 27 Jan, 2021 08:16pm

Commodities

Zinc slides to two-month low as stocks surge, China demand wanes

Benchmark three-month zinc on the London Metal Exchange was down 1.6% at $2,613.50 a tonne.
Stocks in LME-registered warehouses have soared by 57% over the past two days to the highest levels since June 2017.

Updated 27 Jan, 2021 11:23pm

Commodities

Cocoa hits one week high after upbeat guidance from Barry Callebaut

March London cocoa was up 1.6% to 1,753 pounds per tonne.
March raw sugar rose 1.6% to 16 cents per lb.
March arabica coffee rose 0.4% to $1.2505 per lb.

Updated 27 Jan, 2021 11:23pm

Commodities

Jordan gets at least 4 participants in 120,000 tonne wheat tender

Participants were believed to be Cerealcom Dolj, Viterra, Ameropa and Nibulon.
No purchase has yet been made and results are expected later on Wednesday, traders said.

Updated 27 Jan, 2021 11:23pm

Commodities

South Africa's Richards Bay says coal exports fell in 2020

Although we probably could of done better, there is always more coal to move, but given the challenges the value chain faced this is a stellar performance in our eyes.
Africa's largest coal export facility said 92% of its exports went to Asia last year, with India and Pakistan being the largest takers.

Updated 27 Jan, 2021 11:23pm

Commodities

Corn hits 2-week high on China demand, soybeans rise as rains disrupt Brazil harvest

Rains disrupted harvest in Brazilian soybean-growing areas, slowing down field work in the world's largest soy producer and potentially delaying planting of the country's second corn crop.

Published 27 Jan, 2021 02:59pm

Commodities

CBOT soybeans may revisit Jan. 14 high of $14.35-3/4

This break is regarded as a convincing signal that the downtrend will be completely reversed. A drop to $13.78 could suggest the break was false, and the target has to be temporarily aborted.

Published 27 Jan, 2021 02:55pm

Commodities

Malaysia palm oil jumps over 2% on higher US soyoil prices

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose 82 ringgit, or 2.5%, to 3,348 ringgit ($827.89) a tonne by midday.

Published 27 Jan, 2021 02:53pm

Commodities

CBOT corn may rise into $5.46-1/2 to $5.51-3/4 range

A realistic target will be $5.46-1/2 or $5.51-3/4. Support is at $5.30-3/4.

Published 27 Jan, 2021 02:20pm

Commodities

SoftBank ties up with Iris Ohyama to recharge robotics ambitions

The joint venture, Iris Robotics, offered an ambitious forecast of 100 billion yen ($965 million) in sales by 2025, but provided little detail on future products at a press conference.

Published 27 Jan, 2021 01:28pm

Commodities

China industry body sees rising steel demand in 2021, eyes raw materials safety

As the recovery of steel demand and production in overseas markets still faces difficulties amid the pandemic, the steel association anticipated China's rising imports and falling exports to continue this year.

Published 27 Jan, 2021 01:14pm

Commodities

CBOT wheat may test resistance at $6.76-3/4

A break below $6.66-1/2, now a support, may cause a fall to $6.58-1/2. On the daily chart, the correction from $6.93 ended around $6.29, the 61.8% retracement.

Published 27 Jan, 2021 01:12pm

Commodities

Zinc hits over 2-month low on higher inventories, weak Chinese demand

Cash zinc on the LME has been trading at a discount to the three-month contract since June 2020, indicating abundant nearby supplies.

Published 27 Jan, 2021 01:03pm

Commodities

Dalian iron ore dips as China steel profit margins slump

Prices of key input iron ore remain elevated after last year's spikes driven by robust demand in China, which produced a record-high volume of steel despite the pandemic.

Published 27 Jan, 2021 12:46pm

Commodities

Palm oil may rise into 3,348-3,381 ringgit range

A hammer forming on Tuesday, signaling the completion of the drop triggered by the resistance at 3,290 ringgit. The contract is poised to break this resistance and rise towards 3,431 ringgit.

Published 27 Jan, 2021 10:10am

Commodities

Argentine soya, corn weather improving

BUENOS AIRES: Rains in Argentina have improved prospects for recently planted soya and corn, but worries about...