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Markets - Commodities

Thursday, May 6, 2021

Aluminium extends rally on growing supply fears
Commodities

Aluminium extends rally on growing supply fears

  • Prices have rocketed 25% this year as commodities and equities markets surged and investors anticipate that a crackdown on polluting smelters in China will constrain supply.
  • Adding impetus was China saying it would "indefinitely" suspend all activity under a China-Australia Strategic Economic Dialogue, deepening a crisis in relations.
Published 06 May, 2021 08:56pm
Japan futures jump to 6-week high on global commodity rally
Commodities

Japan futures jump to 6-week high on global commodity rally

  • Osaka Exchange's rubber contract for October delivery finished up 13.0 yen, or 5.3%, at 257.9 yen ($2.4) per kg. It hit the highest since March 25 of 258.0 yen earlier in the session.
  • "The OSE rubber prices are catching up with the rally in the global commodities amid expectations of higher inflation," a Tokyo-based dealer said.
Published 06 May, 2021 05:16pm
Palm oil closes at 13-year high as concerns over supply support
Commodities

Palm oil closes at 13-year high as concerns over supply support

  • The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange finished up 166 ringgit, or 4.1%, to 4,210 ringgit ($1,021.84) a tonne.
  • "Demand is better, with palm being the cheapest vis-a-vis other competing oils. Thus, we anticipate prices to remain both defensive and firmer," he added.
Updated 06 May, 2021 05:08pm
Palm oil targets 4,130-4,169 ringgit range
Commodities

Palm oil targets 4,130-4,169 ringgit range

  • On the daily chart, the contract managed to close above a resistance at 4,026 ringgit for three days. It has escaped from a consolidation range of 3,856-4,026 ringgit, which suggests a target of 4,400 ringgit.
Published 06 May, 2021 11:59am
Gold prices down in Asia
Commodities

Gold prices down in Asia

SINGAPORE: Gold prices edged lower in Asian trade on Wednesday as a stronger dollar and prospects of higher US...
Published 06 May, 2021 03:49am
Gold rises in Europe
Commodities

Gold rises in Europe

AMSTERDAM/LONDON: Gold prices inched higher on Wednesday as the US Treasury yield retreated from a session high,...
Published 06 May, 2021 03:49am
US MIDDAY: Gold surges
Commodities

US MIDDAY: Gold surges

NEW YORK: Gold firmed on Wednesday as the dollar and US Treasury yields eased, while palladium held near record ...
Published 06 May, 2021 03:49am
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