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Commodities

China Hongqiao profit hits record on high aluminium prices; output falls for 3rd year
Commodities

China Hongqiao profit hits record on high aluminium prices; output falls for 3rd year

  • Shandong-based Hongqiao posted annual net income of 10.5 billion yuan ($1.62 billion) last year, according to a filing to the Hong Kong stock exchange on Friday.
  • Revenues were up only 2.3% year-on-year to 86.14 billion yuan, however, with Hongqiao also attributing its bumper earnings to lower production costs and lower impairment losses compared with a year earlier.
Published 05 Mar, 2021 06:05pm
Raw sugar recovers
Commodities

Raw sugar recovers

LONDON: Raw sugar prices on ICE recovered on Thursday after hitting a one-month low as the dollar held strong and...
Published 05 Mar, 2021 05:17am
Gold rises in Europe
Commodities

Gold rises in Europe

MILAN/LONDON: Gold rose on Thursday, buoyed by lower US Treasury yields, but a firm dollar limited bullion’s...
Published 05 Mar, 2021 05:17am
US MIDDAY: Soyabeans jump
Commodities

US MIDDAY: Soyabeans jump

CHICAGO: US soyabean futures climbed on Thursday as adverse weather across South America fueled concerns about a...
Published 05 Mar, 2021 05:17am
Gold prices slump
Commodities

Gold prices slump

KARACHI: Gold prices on Thursday slumped greatly on the local market, traders said. Following a fall of Rs1900, the...
Published 05 Mar, 2021 05:17am
Nickel collapse triggers slide across industrial metals
Commodities

Nickel collapse triggers slide across industrial metals

  • Benchmark copper on the London Metal Exchange (LME), which hit a 10-year high of $9,617 a tonne last week, was on track for its worst day since October as it lost 4.2% to $8,720.
  • Nickel, meanwhile, tumbled for a second day. Having reached a seven-year high of $20,110 last week, it traded at $16,175 a tonne, down 7.1% and set for its biggest one-day loss since 2016.
Updated 04 Mar, 2021 09:51pm
Egypt's GASC receives offers in soyoil, sunflower oil tender
Commodities

Egypt's GASC receives offers in soyoil, sunflower oil tender

  • The lowest offer for 10,000 tonnes of sunflower oil also sought by the state agency was estimated to be $1,554 a tonne c&f, submitted by trading house Viterra and also seeking immediate payment.
  • Offers are still being considered and results are expected later on Thursday. The oils are both sought for May 1-15 arrival in Egypt.
Published 04 Mar, 2021 05:46pm
Mild winter dramatically improves condition of Russian winter grains
Commodities

Mild winter dramatically improves condition of Russian winter grains

  • The portion of winter grain sowings in poor condition was at a 7-year high of about 22% in early December as farmers in one of the world's largest wheat exporters planted in dry soil.
  • "One can breathe freely now. The situation has significantly improved," he said, adding that it was rare for winter to improve, rather than worsen, the condition of the grain crop in Russia.
Published 04 Mar, 2021 05:51pm