News Archives for Markets - 2021-06-16

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Commodities

China aluminium exports have likely peaked, CRU says

Now we're in a situation where Europe and the US have pretty comprehensive anti-dumping measures against Chinese imports and China is going out to the rest of the world and seeing if it can replace those markets.

Published 16 Jun, 2021 06:55pm

Commodities

Wheat up 5-10 cents, corn up 5-8 cents, soybeans down 4-5 cents

MGEX spring wheat posting biggest gains on concerns about dryness in North Dakota hampering crop development.

Published 16 Jun, 2021 06:31pm

Commodities

Copper hits 7-week low as China to sell strategic stockpiles

No doubt that Chinese efforts to curb prices is playing out and having a negative impact on otherwise bullish price sentiment. It highlights a market that has lost momentum.
Three-month copper on the LME slipped 0.3% to $9,538 a tonne in official trading after earlier touching its lowest since April 23 and slumping by 4% on Tuesday.

Published 16 Jun, 2021 06:15pm

Commodities

Bangladesh gets offers in tender to buy 50,000 tonnes rice

Offers are still being considered and no purchase had yet been reported.
A total five trading houses submitted offers with the lowest price submitted by Bagadia Bros.

Published 16 Jun, 2021 06:00pm

Commodities

Arabica coffee steadies, cocoa falls on surplus

September arabica coffee edged up 0.4% to $1.5380 per lb, having hit its lowest since late May on Tuesday at $1.5280.
September London cocoa fell 0.7% to 1,621 pounds per tonne.

Published 16 Jun, 2021 05:31pm

Commodities

Palm falls more than 4pc tracking weak US soyoil

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed 4.1% lower, to 3,398 ringgit a tonne.
Soyoil contract on the CBOT fell 2.4%. Soybean oil prices on the Dalian dropped 1.9%, while its palm contract fell 1.6%.

Published 16 Jun, 2021 05:26pm

Commodities

Corn steadies, soybeans slip again as Midwest weather watched

Market weighs better weather forecast, recent Midwest dryness.
Soybeans pressured by May crush data, fresh veg oil slide.
Wheat steadies after slide on global harvest outlook.

Published 16 Jun, 2021 05:12pm

Commodities

Gold subdued as market awaits Fed stimulus strategy

US retail sales drop 1.3% in May.
Federal Reserve policy statement due at 1800 GMT.
Talk of QE tapering in future could be on Fed agenda – analyst.

Updated 16 Jun, 2021 05:03pm

Commodities

China May aluminium output slips mth/mth on power curbs

The world's top producer of the metal churned out 3.32 million tonnes in May, the National Bureau of Statistics said.

Published 16 Jun, 2021 12:38pm

Commodities

CBOT wheat may retest support at $6.48-1/4

Confirmation of the reversal will be when wheat climbs above $6.79.

Published 16 Jun, 2021 12:31pm

Commodities

Palm loses more than 2% on weaker soyoil prices

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange dropped 2.51% to 3,453 ringgit ($838.72) a tonne.

Published 16 Jun, 2021 11:10am

Commodities

Palm oil may rise into 3,691-3,757 ringgit range

The bounce on Tuesday was so strong that it may extend to the target zone on Wednesday to fill a gap forming on Monday.

Published 16 Jun, 2021 11:06am

Commodities

CBOT corn may bounce further to $6.86-3/4

On the daily chart, the consolidation is taking the shape of a wedge, the lower trendline suggests a target around $6.26-3/4.

Published 16 Jun, 2021 11:02am

Commodities

CBOT soybeans may test support at $14.45-1/4

A break above $14.87-1/4 could lead to a gain to $15.13-1/4.

Published 16 Jun, 2021 11:00am

Commodities

China to release copper, aluminium and zinc reserves to stabilise commodity prices

Moreover, demand in most economies is continuing to recover from pandemic slumps, albeit at an uneven pace.

Published 16 Jun, 2021 10:27am

Commodities

ICE canola extends losing streak

CHICAGO: ICE canola futures fell for the fourth straight day on Monday, pressured by plummeting soyoil prices and...