News Archives for Markets - 2021-05-21

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Commodities

Copper retreats on fears over Chinese price crackdown

Copper on the London Metal Exchange (LME) was set for its biggest weekly drop since September 2020 after a sizzling rally with near 40% gains since the start of the year to a record peak of $10,747.50 last week.
Three-month LME copper had slid 1.6% to a two-week low of $9,884 a tonne, down 3.5% on the week.

Published 21 May, 2021 08:20pm

Commodities

Gold eases as dollar gains on strong US data, but eyes weekly gain

US factory activity accelerated in early May.
Platinum set for second straight weekly decline.
Palladium eyes biggest weekly decline since week ending Jan. 29.

Published 21 May, 2021 08:17pm

Commodities

Russia may raise 2021/22 grain exports despite lower crop

Russia's 2021 grain crop seen down y/y to 127 mln tonnes.
Russia may purchase 3 mln tonnes of grain for stockpile.
Second half of each season may become subject to export quota.

Published 21 May, 2021 08:09pm

Commodities

Soy down 7-10 cents, corn down 5-7 cents, wheat down 4-6 cents

Wheat slid again overnight, poised for a fifth consecutive session of losses as a strong winter wheat outlook pressures the market and beneficial rains aid in crop development.
The CBOT's most-active wheat contract dipped below its 50-day moving average overnight.

Published 21 May, 2021 08:07pm

Commodities

Arabica heads back towards four-year highs on tightening supplies

July London cocoa rose 0.1% to 1,631 pounds per tonne.
July arabica coffee rose 0.5% to $1.5175 per lb, having set a four-year peak of $1.5365 on Thursday.

Updated 21 May, 2021 08:06pm

Commodities

Copper retreats on fears over Chinese price crackdown

Copper on the London Metal Exchange (LME) was set for its biggest weekly drop since January after a sizzling rally with near 40% gains since the start of the year to a record peak of $10,747.50 last week.

Published 21 May, 2021 04:45pm

Commodities

Palm clocks 11pc weekly fall on higher output hopes, lockdown fears

Palm logs 11% weekly drop, biggest in one year.
Palm hits lowest since May 4, down for 3rd session.
Stricter lockdown in Malaysia could curb consumption.

Published 21 May, 2021 04:35pm

Commodities

Philippines purchased about 40,000 tonnes Australian feed wheat, barley

The feed wheat was bought at just over $323 a tonne c&f for shipment in the second half of August.

Published 21 May, 2021 02:32pm

Commodities

NY cocoa to test support at $2,414

The rise from $2,317 observed closely a set of retracements of the downtrend from $2,728 to $2,317. After breaking $2,474, cocoa is expected to test the next support at $2,414.

Published 21 May, 2021 02:23pm

Commodities

Palm oil may fall more into 3,955-4,021 ringgit range

The target range has to be temporarily aborted, should the contract open above 4,117 ringgit on Friday and remain above it thereafter.

Published 21 May, 2021 12:28pm

Commodities

CBOT corn may retreat into $6.39-3/4 to $6.47-1/2 range

On the daily chart, the bounce over the past few days consists of a few candlesticks with very small bodies.

Published 21 May, 2021 12:25pm

Commodities

CBOT soybeans may test support at $15.11-3/4

On the daily chart, the contract is sliding towards $15.04-1/4.

Published 21 May, 2021 12:19pm

Commodities

Dalian iron ore set for worst week in 2 months as China flags further curbs

Despite the selling pressure on iron ore, prices especially of high-grade materials remain elevated, giving steel producers some headache including those outside China.

Published 21 May, 2021 12:00pm

Commodities

LME copper eyes worst week since Sept 2020 on China price curb fears

China, the world's biggest copper user, said on Wednesday it would strengthen its management of commodity supply and demand to curb "unreasonable" increases in prices, and prevent them being passed on to consumers.

Published 21 May, 2021 11:48am

Commodities

Palm hits two-week low on worries over demand, lockdown

Dalian's most-active soyoil contract fell 1.9%, while its palm oil contract was down 2.2%. Soyoil prices on the Chicago Board of Trade slid 0.4%.

Published 21 May, 2021 11:46am

Commodities

PMEX daily trading report

KARACHI: On Wednesday, at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 19.186...