News Archives for Markets - 2021-02-23

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Markets - Commodities - 2021-02-23

Commodities

Ivory Coast to launch agricultural commodities exchange in March

The agricultural commodities exchange will provide a price benchmark that serves as a basis for negotiating national and international commercial contracts.
The exchange also expects to eventually list natural rubber and palm oil, but has not indicated any plans for Ivory Coast's top export, cocoa, which is traded on international markets.

Published 23 Feb, 2021 08:53pm

Commodities

Sugar extends rally, hitting highest in nearly four years

March raw sugar edged up 0.3% to 18.84 cents per lb.
May arabica coffee edged up 0.3% to $1.3530 per lb.
May London cocoa firmed by 0.1% to 1,839 pounds a tonne.

Published 23 Feb, 2021 07:39pm

Commodities

Jordan buys about 60,000 tonnes feed barley in tender

It was bought at an estimated $264.50 a tonne c&f for shipment in the first half of September. Seller was believed to be trading house Viterra.

Published 23 Feb, 2021 07:17pm

Commodities

Paris wheat pauses after rally, rapeseed hits near 8-year high

May milling wheat, now the most active contract on Paris-based Euronext, was down 0.25 euro, or 0.1%, at 229.00 euros ($278.12) a tonne.
The contract earlier equalled Monday's one-month high of 229.75 euros but again failed to breach resistance at 230 euros.

Published 23 Feb, 2021 07:07pm

Commodities

Copper's spectacular rally slows at 9 1/2-year highs

Benchmark copper on the London Metal Exchange was up 0.2% at $9,112 a tonne. *Prices have shot up 16% in February, the biggest monthly rise since November 2016, taking gains since the start of 2020 to around 50%.

Published 23 Feb, 2021 05:49pm

Commodities

Palm oil gains 2% as crude, soyoil rise

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange rose 74 ringgit, or 2.1%, to 3,618 ringgit ($895.32) a tonne during early trade.

Published 23 Feb, 2021 12:09pm

Commodities

Copper extends rally on tight supply, strong demand outlook

Three-month copper on the London Metal Exchange rose 1.3% to $9,214 a tonne by 0252 GMT, having hit a 9-1/2-year high of $9,269.50 a tonne in the previous session.

Published 23 Feb, 2021 12:06pm

Commodities

Wheat eases after rally; near 3-week high on cold weather worries

Still, showers on Argentina's Pampas grains belt in recent weeks have helped make up for the dryness that parched soybean and corn crops from the middle of last year, weather experts said on Monday.

Published 23 Feb, 2021 12:01pm

Commodities

Philippines says 2020 nickel output up 3%, warns outlook uncertain

Quarantine restrictions had prompted mining companies to reduce working hours and manpower, it said.

Published 23 Feb, 2021 11:59am

Commodities

China iron ore futures retreat as Tangshan city sounds pollution alert

"The strong pick-up in steel demand in 2021 amidst a robust and broad economic recovery will impede prices from crashing and will help them average at elevated levels this year," according to Fitch Solutions.

Published 23 Feb, 2021 11:49am

Commodities

Palm oil may retest support at 3,465 ringgit

On the daily chart, the contract closed below a resistance at 3,581 ringgit. It is still likely to drop to 3,411 ringgit.

Published 23 Feb, 2021 11:04am

Commodities

Gold prices slightly up

KARACHI: Gold prices on Monday gained some momentum on the local market, traders said. An increase of Rs 400 in the...