News Archives for Markets - 2021-03-12

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Commodities

Gold drops over 1pc as rising bond yields, dollar dull appeal

Gold's key support area between $1,670-$1,690/oz – analyst.
Silver on track for first weekly gain in four.
Platinum set to post largest weekly gain in four weeks.

Published 12 Mar, 2021 09:29pm

Commodities

Soybeans down 6-9 cents; corn down 3-5 cents; wheat up 0-1 cents

CBOT wheat hovered near even overnight after a 1.5% drop Thursday, pressured by beneficial rains expected across the US Southern Plains.
China is scooping up supplies of US white wheat to feed livestock, pushing export forecasts for the grain usually used to make sponge cakes and noodles to a 27-year-high.

Published 12 Mar, 2021 09:14pm

Commodities

Trafigura CEO expects 10mn tonne supply deficit in copper market by 2030

"We see a significant deficit, possibly in the region of 10 million tonnes of additional copper is required to balance the market by 2030," he said.
London copper hit near 10-year highs this week on some near-term supply tightness.

Published 12 Mar, 2021 08:21pm

Commodities

Brazil govt concerned about rains disrupting second corn crop

Speaking at an online event organized by a bank, Dias reiterated the government's plan to increase Brazil's overall food production in a bid to boost internal supplies and rein in food price inflation.
"It is my perception that perhaps agriculture commodities prices will take another leap," she said.

Updated 12 Mar, 2021 08:08pm

Commodities

China pollution clampdown fuels copper demand concerns

Three-month copper on the London Metal Exchange was down 0.3% at $9,033 a tonne.
The contract has surged 46% since the beginning of 2020, hitting a 9-1/2-year high of $9,617 a tonne in February.

Published 12 Mar, 2021 07:00pm

Commodities

Japan futures end week higher after Biden signs US stimulus bill

Osaka Exchange's rubber contract for August delivery rose 1.3 yen, or 0.5%, to 276 yen per kg, ending the week 2.3% higher.
The rubber contract on the Shanghai futures exchange for May delivery rose 0.7% to finish at 15,265 yuan per tonne.

Published 12 Mar, 2021 06:25pm

Commodities

Gold dips 1pc as US dollar and yields regain footing

Silver heads for biggest weekly rise since mid-February.
Platinum on track to post largest weekly gain in four weeks.
Investors await US Federal Reserve meeting next week.

Published 12 Mar, 2021 05:47pm

Commodities

Asia Gold-More takers as prices dip, Indian premiums rise

Chinese premiums rise to $8-$10/oz.
Higher buying activity in China, Singapore, Japan.
Dealers charged premiums of $6 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales taxes, compared with last week's premium of $5.

Published 12 Mar, 2021 05:45pm

Commodities

Raw sugar falls, but losses limited by tight supplies

May raw sugar was down 0.9% to 16.21 cents per lb .
May arabica coffee fell 0.7% to $1.3145 per lb, having gained 1.1% on Thursday.
May London cocoa was flat at 1,777 pounds per tonne.

Published 12 Mar, 2021 05:43pm

Commodities

Wheat flat; set for second weekly drop as US weather improves

Losses in the soybean market were curbed by South American crop worries.

Published 12 Mar, 2021 12:17pm

Commodities

Benchmark iron ore futures head for weekly declines on demand worries

He said there is now "greater long-term risk to Chinese iron ore demand given the government wants to cut steel capacity and move towards scrap-intensive electric arc furnace production".

Published 12 Mar, 2021 11:39am

Commodities

London copper dips as demand growth slows, supply weighs

The premium of LME cash copper over the three-month contract fell to $11.50 a tonne, its lowest since Feb. 11, suggesting that the nearby supply tightness has eased.

Published 12 Mar, 2021 11:38am

Commodities

Palm set for best week in 5-1/2 years on tight supply, firm soyoil

Dalian's most-active soyoil contract rose 1.72%, while its palm oil contract gained 3.25%. Soyoil prices on the Chicago Board of Trade were up 0.4%.

Published 12 Mar, 2021 11:31am

Commodities

US white wheat growers cash in as China snaps up supplies

"That is more than usual. But we have had a pretty good run-up in prices," said Kress, who grows about 3,000 acres (12 square kilometers) of wheat each year in southeast Idaho.

Published 12 Mar, 2021 11:29am

Commodities

CBOT soybeans neutral in $14.04-1/2 to $14.20-1/2 range

Signals on the daily chart are a bit bearish as well, as the contract is zigzagging up in a rising channel, which suggests a further drop into $13.76-3/4 to $13.95 range.

Published 12 Mar, 2021 10:51am

Commodities

China’s soymeal futures tumble on African swine fever resurgence fears

BEIJING: China’s soymeal futures slumped on Thursday on growing concerns that a resurgence in African swine fever...