News Archives for Markets - 2021-03-05

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Commodities

Gold holds near 9-month low as yields, dollar gain further

US jobs increased more than expected in February.
US 10-year yield rises to 1.625%.
Gold down 2% so far this week.
Silver on track for worst week since late November.

Published 05 Mar, 2021 09:56pm

Commodities

Nickel firms but remains set for biggest weekly loss since 2011

The metal is mainly used in stainless steel, but demand for battery grade nickel for electric vehicles is expected to boom in as the world moves towards a lower-carbon economy.
Benchmark three-month nickel edged up 1.5% to $16,379 a tonne in official trading but was still on track for a weekly loss of about 11%, its biggest since September 2011.

Published 05 Mar, 2021 09:15pm

Commodities

Robusta coffee prices weaken, cocoa also down

May robusta coffee was down $13, or 0.9%, at $1,393 a tonne.
May London cocoa fell by 13 pounds, or 0.7%, to 1,793 pounds a tonne, extending its retreat from a three-month high of 1,822 pounds set on Wednesday.

Updated 05 Mar, 2021 08:19pm

Commodities

Platts to launch 'green' aluminium prices in April

The metals sector has struggled with adopting common standards for low-carbon aluminium as rival producers fight for market share among consumers who are under pressure to cut their own emissions footprints.
S&P Global Platts said it would start issuing daily prices for both low-carbon and zero-carbon aluminium on April 6.

Published 05 Mar, 2021 06:53pm

Commodities

South Korea's MFG buys about 130,000 tonnes of feed wheat

The feed wheat was purchased in two 65,000 tonne consignments at an estimated $282.86 a tonne c&f for arrival in South Korea around Aug. 24 and at $275.14 a tonne c&f for arrival in South Korea around Sept. 24.
If the August arrival consignment is sourced from the US Pacific Northwest coast, Australia or Canada, shipment is sought between July 21 and Aug. 9.

Published 05 Mar, 2021 06:42pm

Commodities

Pakistan believed to pass in 300,000 tonnes wheat tender

Offers in the tender from the Trading Corporation of Pakistan (TCP) which closed on Tuesday were regarded as too high at a time when Pakistan's own grains harvest is starting, a trader said.
Wheat prices have risen since Russia announced grain export taxes to reduce its overseas shipments and cool Russian domestic prices.

Published 05 Mar, 2021 06:25pm

Commodities

China Hongqiao profit hits record on high aluminium prices; output falls for 3rd year

Shandong-based Hongqiao posted annual net income of 10.5 billion yuan ($1.62 billion) last year, according to a filing to the Hong Kong stock exchange on Friday.
Revenues were up only 2.3% year-on-year to 86.14 billion yuan, however, with Hongqiao also attributing its bumper earnings to lower production costs and lower impairment losses compared with a year earlier.

Published 05 Mar, 2021 06:05pm

Commodities

Gold slides to 9-month low as high yields, dollar dull appeal

US 10-year yields hold above 1.5%.
Gold down 2% on the week.
Silver on track for worst week since late-November.

Published 05 Mar, 2021 05:19pm

Commodities

Palm oil firms for third day, rising stocks forecast caps gains

Palm has gained 1.4% so far this week.

Published 05 Mar, 2021 11:16am

Commodities

Soybeans up for 4th week as LatAm weather supports prices

Most Ukrainian winter grain crops are in excellent condition thanks to favourable weather that could lift the 2021 harvest to a record high above 75 million tonnes, a senior government official said on Thursday.

Published 05 Mar, 2021 11:06am

Commodities

Most base metals fall as dollar firms; LME nickel set for worst week since 2011

LME nickel, despite rebounding 0.6% to $16,230 a tonne, was on track for its biggest weekly loss since September 2011 after shedding a combined 14% in the previous two sessions.

Published 05 Mar, 2021 11:01am

Commodities

China steel, iron ore futures fall sharply as demand optimism wanes

"On top of that, the seasonal restocking cycle of national steel inventories is drawing to a close, with the growth in stocks slowing this week, meaning that some mills will soon start to moderate capacity utilization rates," he said.

Published 05 Mar, 2021 10:39am

Commodities

EU rapeseed futures surge close to record high

PARIS: European rapeseed futures rose 2.5% on Thursday as signs of tightening stocks in the European Union helped ...