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Archive

Markets - Commodities

Monday, March 29, 2021

Gold falls 1pc as firm dollar, yields weigh
Commodities

Gold falls 1pc as firm dollar, yields weigh

  • Markets eye Biden's infrastructure spending plan on Wednesday.
  • Dollar firms near multi-month peak.
  • Palladium fell as much as 6% in the session.
  • Russia's Nornickel halts water inflow at two major mines.
Published 29 Mar, 2021 08:54pm
Copper slides as ship blocking Suez refloated
Commodities

Copper slides as ship blocking Suez refloated

  • Benchmark copper on the London Metal Exchange was down 0.9% to $8,883 a tonne.
  • "Copper prices lurched lower after we saw the news about the ship in the Suez Canal," a copper trader said. "There may still be a knock-on effect on costs and there is still a queue, but at least the canal isn't blocked any more."
Published 29 Mar, 2021 08:10pm
Raw sugar slumps to three-month low, coffee also down
Commodities

Raw sugar slumps to three-month low, coffee also down

  • May raw sugar fell by 0.12 cents, or 0.8%, to 15.07 cents per lb.
  • "The funds, who started the year in a very ebullient mood (on sugar), seem to be throwing in the towel as prices fall through key support levels," analyst Green Pool said in a weekly market update.
Published 29 Mar, 2021 06:46pm
Copper slides as ship blocking Suez partly refloated
Commodities

Copper slides as ship blocking Suez partly refloated

  • Benchmark copper on the London Metal Exchange traded down 0.3% to $8,937 a tonne in official rings. Prices are down 7% since hitting 9-1/2-year highs of $9,617 last month.
  • The blockage in the Suez Canal made people think about higher costs of transporting metal. It's not over yet, but the ship is moving.
Published 29 Mar, 2021 06:05pm
Copper falls on signs of slowing demand
Commodities

Copper falls on signs of slowing demand

  • Copper inventories in LME warehouses have risen 67% so far in March to 123,800 tonnes, their highest since Dec. 16, 2020. Stockpiles of the metal in ShFE warehouses were last at 188,359 tonnes, a high level unseen since September 2020.
Published 29 Mar, 2021 12:04pm