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Archive

Markets - Commodities

Tuesday, March 2, 2021

Chile's Codelco copper output jumps in January, Escondida dips
Commodities

Chile's Codelco copper output jumps in January, Escondida dips

  • The state-run Chilean Copper Commission (Cochilco) reported that production by Codelco, the world's largest miner of the red metal, rose 19.4% year-on-year to 142,000 tonnes in the month.
  • Collahuasi - a partnership between Glencore and Anglo American along with Japanese companies - posted a 6.5% year-on-year rise in production to 57,000 tonnes.
Published 02 Mar, 2021 09:41pm
Ivory Coast sells almost 100,000 tonnes of 2021/2022 cocoa at small discount
Commodities

Ivory Coast sells almost 100,000 tonnes of 2021/2022 cocoa at small discount

  • The regulator however maintained a $400/tonne premium known as the living income differential (LID) that was introduced this season to boost farmers' incomes.
  • A bumper crop and weak global demand caused by the pandemic, coupled with the introduction of the LID, left piles of unsold beans in warehouses in Ivory Coast.
Published 02 Mar, 2021 08:41pm
Wheat up 5-7 cents; corn, soybeans down 2-4 cents
Commodities

Wheat up 5-7 cents; corn, soybeans down 2-4 cents

  • Wheat futures rebounding from three straight days of declines, supported by deteriorating crop conditions in the US Plains.
  • The US Agriculture Department lowered its good-to-excellent ratings for wheat in Kansas, Texas and Oklahoma.
Published 02 Mar, 2021 08:30pm
Russia could reduce poultry import tax for Brazil: RIA reports
Commodities

Russia could reduce poultry import tax for Brazil: RIA reports

  • Moscow has imposed grain export curbs and other measures in an attempt to slow food inflation amid the COVID-19 pandemic and falling household incomes.
  • The possible tax cut was mentioned at a meeting of agriculture ministry officials and Russia's largest poultry producers on Tuesday, at which they discussed rising prices for poultry and eggs, RIA said.
Published 02 Mar, 2021 07:14pm
Philippines tenders for 145,000 tonnes of wheat
Commodities

Philippines tenders for 145,000 tonnes of wheat

  • Deadline for price submissions is believed to be Thursday, March 4.
  • The group is seeking 75,000 tonnes of feed wheat in two consignments for delivery between April and June. Another 70,000 tonnes of milling wheat is sought in two consignments for delivery in June.
Published 02 Mar, 2021 06:29pm
Copper's rally may be back on as prices steady above $9,000
Commodities

Copper's rally may be back on as prices steady above $9,000

  • Benchmark copper on the London Metal Exchange (LME) was up 1.2% at $9,150 a tonne.
  • On the Shanghai Futures Exchange (ShFE), speculators' net long reached 57.9% of open contracts on Friday, the most since 2003, before falling to 51.8% on Monday, Marex said.
Published 02 Mar, 2021 06:09pm
PMEX daily report
Commodities

PMEX daily report

On Friday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 21.918 billion and ...
Published 02 Mar, 2021 05:50am
Gold slips in NY
Commodities

Gold slips in NY

NEW YORK: Gold prices gave up gains of 1% on Monday as a stronger dollar and increased risk appetite among investors...
Published 02 Mar, 2021 05:50am