News Archives for Markets - 2021-02-10

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Commodities

Platinum hits 6-year peak; gold gains as dollar stumbles

China's auto sales surged 30% in Jan.
Dollar index at two-week low.

Updated 11 Feb, 2021 12:29am

Commodities

Steel demand in EU plus UK seen rebounding by 13.3pc in 2021

2020 is likely to be one of the worst years on record, even if we will see positive figures in the fourth quarter.
Apparent consumption is forecast to fall 13% in 2020 before bouncing back this year by 13.3% to 152 million tonnes.

Updated 11 Feb, 2021 12:30am

Commodities

Copper hits eight-year peak as bullish factors dominate

Benchmark copper on the London Metal Exchange (LME) traded 1.6% up at $8,274 a tonne in official rings.
The idea that US stimulus is going to lead to higher inflation has taken hold this week.

Published 10 Feb, 2021 08:27pm

Commodities

Jordan buys 60,000 tonnes wheat in tender

It was bought from trading house Ameropa at an estimated $270.50 a tonne c&f for shipment in the first half of September.
Three other trading houses participated in the tender, CHS which offered $273.43 a tonne c&f .

Published 10 Feb, 2021 08:04pm

Commodities

Soybeans down 15-18 cents; corn, wheat down 7-11 cents

The CBOT's most-active soft red winter wheat contract fell in overnight trading, following corn and soybeans lower despite a tighter global wheat stocks picture reported.
Ukraine's grain exports are down 20% from the same period last year, at 29.8 million tonnes.

Published 10 Feb, 2021 07:24pm

Commodities

Ivory Coast slashes cocoa quality premium to revive weak sales

The "country-differential" premium - so called because exporters pay it because of the high quality of cocoa from Ivory Coast.
The CCC is aiming to sell a total of 555,000 tonnes worth of contracts for the April-to-September mid-crop by the end of this month.

Published 10 Feb, 2021 07:03pm

Commodities

Raw sugar edges higher; cocoa, coffee also climb

May arabica coffee fell 0.1% to $1.2490 per lb.
May New York cocoa rose 0.7% at $2,446 a tonne.
March raw sugar rose 0.4% to 16.50 cents per lb.

Published 10 Feb, 2021 06:44pm

Commodities

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

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

Published 10 Feb, 2021 06:25pm

Commodities

Coca-Cola quarterly revenue falls 5pc on new pandemic restrictions

Organic sales, which strip out acquisition and currency impacts, fell 3% in the fourth quarter, the company said.
Unit case volume, a key demand indicator, fell 3%, compared with a 4% fall in the preceding quarter.

Published 10 Feb, 2021 06:18pm

Commodities

Silver will outshine gold as demand hits 8-year high in 2021

The coronavirus outbreak triggered a rush among investors to stockpile silver, which like gold is traditionally seen as a safe place to store money.
That impetus will continue, the institute said, predicting purchases of bars and coins would rise to a six-year high of 257 million ounces in 2021.

Published 10 Feb, 2021 06:17pm

Commodities

Turkey tenders to buy and import about 25,000 tonnes sunflower oil

Shipment is sought between Feb. 26 and March 20. Some 15,000 tonnes is sought for shipment to the Turkish port of Mersin and 10,000 tonnes to the port of Tekirdag.
The TMO reserves the right to buy up to 5% more or less than the tender volume at its own discretion.

Published 10 Feb, 2021 06:14pm

Commodities

Corn extends fall on higher-than-expected supply, wheat follows

Corn falls for 2nd session as USDA projects supplies above expectations.
Chicago wheat slides in the wake of corn.
Soybeans ease after strong rally in prices.

Published 10 Feb, 2021 05:53pm

Commodities

Platinum, palladium and rhodium all in deficit in 2020:-Johnson Matthey

The 10-million ounce a year palladium market saw a shortfall of 606,000 ounces, continuing a run of deficits stretching back to at least 2015, the company said in a report.
The 1 million ounce rhodium market, meanwhile, was undersupplied by 84,000 ounces.

Published 10 Feb, 2021 05:46pm

Commodities

Palm oil snaps 4-day rally as USDA reports upbeat soybean stock estimates

Agriculture (USDA) reported higher than expected soybean stocks estimates, but hopes of higher exports during Feb. 1-10 limited losses.

Published 10 Feb, 2021 11:52am

Commodities

Corn drops from 7-1/2 year top on higher-than-expected supply

The USDA only minimally trimmed its US end-of-season stocks outlook and raised its export forecast by less than many traders had anticipated following record-large sales to China.

Published 10 Feb, 2021 11:48am

Commodities

Gold firms on faltering dollar, stimulus hopes

Analysts largely expect Powell to reiterate the Fed's commitment to keep monetary policy accommodative.

Published 10 Feb, 2021 11:42am

Commodities

Iron ore rallies for fifth day, set for 6% weekly gain on demand hopes

"Australian miners' output is expected to lift only marginally, leaving the Brazilian giant, Vale, crucial to the overall recovery in supply," he said in a monthly outlook.

Published 10 Feb, 2021 11:36am

Commodities

Malaysia end-Jan palm oil stocks rise to 1.32mn tonnes

Crude palm oil production fell 15.5% from December to 1.13 million tonnes.

Published 10 Feb, 2021 11:29am

Commodities

London copper near 8-year high on stimulus hopes, tight supply

The three-month copper contract on the London Metal Exchange climbed as much as 1.6% to $8,275 a tonne, its highest since Feb. 15, 2013.

Published 10 Feb, 2021 11:05am

Commodities

Palm oil may retreat to 3,503 ringgit

On the daily chart, a retracement analysis on the uptrend from 2,691 ringgit to 3,888 ringgit reveals a similar resistance at 3,606 ringgit, the 23.6% level.

Published 10 Feb, 2021 10:50am

Commodities

Pakistan Mercantile Exchange - PMEX

ISLAMABAD: Pakistan Mercantile Exchange - PMEX (Formerly National Commodity Exchange Limited - NCEL) Trading Summary...