Commodities Archive

Industrial metals (copper, aluminium, nickel, etc.) daily review (February 03, 2012)

Industrial metals fell more than 1 percent on Thursday, it's fourth down day in the past five trading sessions, as the market continued to retreat from its January rally amid Greek debt default jitters and signs of sluggish demand from top buyer China. Production of all main metals fell in Peru in 2011 from the previous year, the mining ministry said on Thursday, as depleted reserves and lower ore grades hit the major global producer.

Gold and silver daily review (February 03, 2012)

Precious metals rose to a two-month high on Thursday on a larger-than-expected fall in new U.S. claims for unemployment benefits, but analysts said bullion could pull back if Friday's U.S. jobs report disappoints. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1271.09 tonnes by Feb 01, remains unchanged from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (February 02, 2012)

Russia's gold and foreign exchange reserves rose to $504 billion in the week to Jan. 27 from $499.7 billion a week earlier, central bank data showed on Thursday. Copper miner Antofagasta aims to increase production by more than 9 percent this year, anticipating slower output growth after an almost 23 percent jump in 2011, when the miner topped its targeted range, thanks to the ramp up of its Esperanza mine.

Agricultural commodities daily review: India and other countries (February 02, 2012)

Soy oil ended higher by 0.20%. Palm oil ended higher by 0.88%. RM seed ended higher by 1.78%. Guar Seed ended higher by 3.49%. Guar Gum ended higher by 2.09%. Chana futures ended higher by 1.66%. Turmeric ended higher by 1.69%. Jeera ended lower by 1.97%. Pepper ended lower by 0.29%.

Agricultural commodities daily review: India and other countries (February 02, 2012)

Soy oil ended higher by 0.20%. Palm oil ended higher by 0.88%. RM seed ended higher by 1.78%. Guar Seed ended higher by 3.49%. Guar Gum ended higher by 2.09%. Chana futures ended higher by 1.66%. Turmeric ended higher by 1.69%. Jeera ended lower by 1.97%. Pepper ended lower by 0.29%.

Commodities daily update: precious metals, base metals, crude oil (February 01, 2012)

Copper miner Antofagasta aims to increase production by more than 9 percent this year, anticipating slower output growth after an almost 23 percent jump in 2011, when the miner topped its targeted range, thanks to the ramp up of its Esperanza mine. Workers of one union at Teck Resources Ltd's Chilean Quebrada Blanca mine, which produced 86,200 tonnes of copper in 2010, ratified strike action after contract negotiations with the firm, broke down, a union leader said late on Tuesday night.

Agricultural commodities daily review: India and other countries (February 01, 2011)

Soy oil ended lower by 0.87%. Palm oil ended lower by 0.41%. RM seed ended higher by 0.20%. Guar Seed ended higher by 4%. Guar Gum ended higher by 4%. Chana futures ended higher by 2.18%. Turmeric ended higher by 1.23%. Jeera ended higher by 2.06%. Pepper ended lower by 1.62%.

Oil and natural gas daily review (February 01, 2012)

Crude oil fell for a third straight day on Tuesday as weaker-than-expected business activity in the Midwest, flagging consumer confidence and lower home prices snuffed out early gains of more than $2 that were spurred by hopes of a debtrestructuring deal for Greece that would avoid a messy default.

Industrial metals (copper, aluminium, nickel, etc.) daily review (February 01, 2012)

Industrial metals fell for a third straight day on Tuesday, hit by currency-related selling and weak U.S. data that raised concerns about global growth and industrial metal demand prospects, already down from China's engineered slowdown and Europe's debt crisis.

Gold and silver daily review (February 01, 2012)

Precious metals rose in choppy trade on Tuesday, posting its biggest monthly rise since August on global economic unease and the U.S. Federal Reserve's long-term outlook for near-zero interest rates. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1271.09 tonnes by  Jan 31, remains unchanged from the previous business day.

Agricultural commodities daily review: India and other countries (January 31, 2012)

Soy oil ended lower by 0.17%. Palm oil ended higher by 0.02%. RM seed ended higher by 0.24%. Guar Seed ended lower by 1.16%. Guar Gum ended lower by 1.04%. Chana futures ended higher by 0.74%. Turmeric ended lower by 0.13%. Jeera ended lower by 2.67%. Pepper ended lower by 4%.

Oil and natural gas daily review (January 31, 2012)

Crude oil ended lower for a second straight session on Monday as stalled Greek debt restructuring talks pulled the dollar up against the euro, which prompted investors to pare holdings in risky assets such as oil. The EU's embargo on Iranian oil exports will add upward pressure to oil prices, OPEC's secretary general said on Monday, even though there is no shortage of oil on the market.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 31, 2012)

Industrial metals fell 1 percent on Monday, retreating further from a four-month high when strong Chinese buying did not materialize on the first session after a week-long holiday, and investors also worried about a lack of progress in talks to resolve Europe's debt crisis. Chile's copper output jumped in December from the same month a year earlier but clocked a 3.2 percent drop in 2011 from a year earlier as falling ore grades, labor woes and weather problems hammered the world's top producer, the government said on Monday.

Gold and silver daily review (January 31, 2012)

Precious metals fell on Monday as a sharp drop in the euro and losses in commodities triggered profit-taking after the metal's recent rally, but a positive technical outlook could underpin bullion in the near term. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund rose stood at 1271.09 tonnes by Jan 23, up by 15.42 tonnes from the previous business day.

Agricultural commodities daily review: India and other countries (December 30, 2011)

Soy oil ended lower by 1%. Palm oil ended lower by 0.75%. RM seed ended lower by 0.11%. Guar Seed ended higher by 3%. Guar Gum ended higher by 3%. Chana futures ended lower by 2.09%. Turmeric ended lower by 0.56%. Jeera ended lower by 2.31%. Pepper ended lower by 4%.

Agricultural commodities daily review: India and other countries (December 25, 2011)

Soy oil ended lower by 0.09%. Palm oil ended higher by 0.59%. RM seed ended lower by 0.67%. Guar Seed ended lower by 3.11%. Guar Gum ended lower by 4%. Chana futures ended lower by 1.42%. Turmeric ended lower by 0.43%. Jeera ended lower by 2.16%. Pepper ended lower by 0.21%.

Agricultural commodities daily review: India and other countries (December 24, 2011)

Soy oil ended higher by 0.46%. Palm oil ended higher by 0.04%. RM seed ended lower by 0.95%. Guar Seed ended higher by 4%. Guar Gum ended higher by 4%. Chana futures ended higher by 0.25%. Turmeric ended higher by 0.83%. Jeera ended higher by 1.39%. Pepper ended higher by 0.18%.

Oil and natural gas daily review (January 24, 2012)

Crude oil prices rose on Monday after the European Union agreed to ban imports of Iranian crude from July, Tehran threatened again to close  the Strait of Hormuz shipping channel, and on shipping channel, and on additional support from the weak dollar. A boom in shale oil production will raise U.S. domestic crude output by a fifth over the next decade, helping to slash the country's dependence on foreign oil imports, the U.S. Energy Information Administration said on Monday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 24, 2012)

Industrial metals climbed nearly 2 percent on Monday, as investors continued to gravitate toward riskier assets like industrial metals, with easing European debt woes and record refined Chinese copper imports bolstering demand prospects. The world refined copper market stood in a 296,000-tonne deficit during the first 10 months of last year, down from a deficit of 439,000 tonnes in the January to October period in 2010, an industry report showed on Monday.

Gold and silver daily review (January 24, 2012)

Precious metals rose 1 percent on Monday to a six-week high, boosted by technical buying and as the euro rallied ahead of the outcome of a euro zone meeting on Greek debt restructuring. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund fell to 1250.53 tonnes by Jan 23, down by 5.14 tonnes from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (January 23, 2012)

Gold demand in India, the world's biggest consumer of bullion, emerged after a gap as consumers made their wedding purchases with prices of the dollar-quoted yellow metal falling in the local market on the rupee's strength. Japanese copper wire and cable shipments rose 2.9 percent from a year earlier in December on robust demand from carmakers, though orders from utilities plunged to a 35-year low as they cut back on spending in the wake of the Fukushima nuclear crisis, an industry body said on Monday.

Oil and natural gas daily review (January 23, 2012)

Crude oil ended lower for a third straight day on Friday as investors awaited a debt-restructuring deal for Greece and as signs of weakness in Chinese factory activity stoked worries over demand. U.S. oil companies are bracing for a potential strike by refinery workers and have plans to keep plants operating if negotiations which began this week for a new labor deal break down.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 23, 2012)

Industrial metals retreated from a fresh 4-month peak on Friday, hit by a weaker euro and disappointing data from China that signaled a  sluggish start for the metal-consuming giant's manufacturing sector. Japanese copper wire and cable shipments rose 2.9 percent from a year earlier to an estimated 58,400 tonnes in December, an industry body said on Monday.

Gold and silver daily review (January 23, 2012)

Precious metals rise was eclipsed by a 4 percent surge in silver on Friday, with investors optimistic about the technical picture and prospects for a Greek deal soon with private bondholders. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund rose stood at 1255.67 tonnes by Jan 20, remains unchanged from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (January 19, 2012)

China accounted for 23 percent of global consumer demand for physical gold in the first three quarters of 2011, up from 19 percent in 2010 according to the World Gold Council (WGC). It's expected to overtake India as the world's top gold consumer in the next few years. Surplus European shipments are seen boosting copper stocks in Shanghai's bonded warehouses in the first quarter, but levels will be less than 2011's record highs as Chinese consumer demand returns after the Lunar New Year, traders said on Thursday.

Agricultural commodities daily review: India and other countries (December 19, 2011)

Soy oil ended lower by 2.02%. Palm oil ended lower by 1.19%. RM seed ended lower by 3.99%. Guar Seed ended higher by 4%. Guar Gum ended higher by 4%. Chana futures ended lower by 3.81%. Turmeric ended lower by 0.04%. Jeera ended lower by 1.99%. Pepper ended higher by 0.22%.

Oil and natural gas daily review (January 19, 2012)

Brent crude oil futures dropped back on Wednesday as a weak demand outlook overshadowed hopes the International Monetary Fund would be able to raise more money to help resolve Europe's debt crisis. The Obama administration, still grappling with how to punish a nuclear-ambitious Iran, is focusing on making countries cut purchases of Iranian oil, rather than allowing them to avoid U.S. sanctions simply by winning price cuts.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 19, 2012)

A two-day rally in the euro versus the dollar helped Industrial metals to stand firm near a 2- 1/2-month peak on Wednesday even as the broader market's risk appetite waned in front of a crucial round of Greek debt restructuring talks this week. Freeport-McMoRan Copper & Gold's Indonesian unit has restarted copper concentrate shipments after a threemonth strike ended in December, the  company said on Wednesday, a sign that work at the world's second largest copper mine was returning to normal.

Gold and silver daily review (January 19, 2012)

Precious metals rose on Wednesday, boosted by a higher euro, a U.S. equities rally and optimism that the International Monetary Fund will raise additional funds to help combat Europe's debt crisis. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund rose to 1255.67 tonnes by Jan 18, remains unchanged from the previous business day.

Oil and natural gas daily review (January 18, 2012)

Crude oil edged higher on Tuesday on lift from the weaker dollar and better-than-expected data from China, Germany and the United States, but concerns about Europe's economy after last week's credit downgrades limited gains. The European Union would ban the import of Iranian oil from July 1, giving member states nearly six months to wind up existing contracts, under a proposal by rotating EU presidency holder Denmark, EU diplomats said on Tuesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 18, 2012)

Industrial metals rallied on Tuesday to its highest price in nearly three months, as upbeat Chinese economic data fed hopes that officials in the world's top metals consumer will try to stimulate growth. Newmont Mining Corp said mining costs for gold and copper are expected to rise this year, mainly because of higher labor and power prices in Australia, and it forecast a drop in copper production because it was currently mining lowergrade ores in Indonesia.

Gold and silver daily review (January 18, 2012)

Spot gold climbed 1.5 percent to a one-month high on Tuesday, encouraged by revived risk appetite that lifted markets across the board, after China announced better than expected economic growth in the last quarter of 2011. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund rose to 1255.67 tonnes by Jan 17, up by 1.51 tonnes from the previous business day.

Agricultural commodities daily review: India and other countries (January 17, 2012)

Soy oil ended lower by 0.27%. Palm oil ended lower by 0.06%. RM seed ended lower by 0.22%. India oilseeds and soy oil futures ended lower on a rise in edible oil imports last month and tracking soft overseas markets, with prices were expected to continue their fall this week.

Oil and natural gas daily review (January 17, 2012)

Crude oil rose on Monday on growing tension between Saudi Arabia and Iran, after the Islamic state told its Gulf Arab neighbors not to make up any shortfall caused by an embargo on its crude oil exports. Saudi Arabia, the world's top oil exporter, said on Monday it can pump more oil at a moment's notice, the day after Iran warned Gulf oil producers not to compensate for any disruption to Iranian output.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 17, 2012)

Industrial metals rose on Monday as investors decided that S&P's downgrades of nine euro zone credit ratings late last week were largely priced in and focused instead on positive fundamentals while awaiting key growth data from China, due the following day.

Gold and silver daily review (January 17, 2012)

Precious metals firmed a touch on Monday in U.S. holiday-thinned trade, with firmer stock markets and a recovery in the euro from early lows taking some pressure off the metal, while traders digested last week's euro zone downgrades from Standard & Poor's.

Oil and natural gas daily review (January 16, 2012)

Crude oil fell for the third straight day on Friday on anticipation that Standard & Poor's would downgrade credit ratings of several euro zone countries, stoking fears deeper economic troubles for the region. Chinese Premier Wen Jiabao pressed Saudi Arabia to open its huge oil and gas resources to expanded Chinese investment, media reports said on Sunday against a backdrop of growing tension over Iran and worries over its crude exports to the Asian power.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 16, 2012)

Industrial metals capped its strongest weekly performance in six weeks with a whimper on Friday, dropping back after setting a fresh 2- month high as investor's dumped risk amid talk of imminent credit downgrades of euro zone countries.

Gold and silver daily review (January 16, 2012)

Precious metals fell 1 percent on Friday, after the dollar surged against the euro and fears about an imminent credit downgrade of euro zone countries prompted bullion investors to take profits on the recent rally. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1254.16 tonnes by Jan 13, remains unchanged from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (January 13, 2012)

Kazakhstan's refined copper output rose by 4.6 percent year-on-year in 2011 and refined zinc production grew by 0.3 percent, data released on Friday by the State Statistics Agency showed. Goldman Sachs said it expected upside in prices of oil, gold and copper this year, citing greater supply risks and stronger fundamentals. Aluminium stocks held at three major Japanese ports came to 247,300 tonnes at the end of December, up 12 percent from 221,500 tonnes at the end of November, trading house Marubeni Corp said on Friday.

Agricultural commodities daily review: India and other countries (December 13, 2011)

Soy oil ended higher by 0.41%. Palm oil ended higher by 0.30%. RM seed ended higher by 0.32%. Guar Seed ended higher by 4%. Guar Gum ended higher by 4%. Chana futures ended higher by 1.51%. Turmeric ended lower by 0.39%. Jeera ended higher by 3.84%. Pepper ended higher by 4%.

Commodities daily update: precious metals, base metals, crude oil (January 12, 2012)

China produced 32.61 tonnes of gold in November, up 2.7 percent from the previous month, the Ministry of Industry and Information Technology said on Thursday. Russia's gold and foreign exchange reserves rose to $498.0 billion by Jan. 6 from $498.0 billion seen at the end of 2011, central bank data showed on Thursday. Most of China's large aluminium smelters have no plans to cut production like the world's top global producers of the metal, with firm domestic prices encouraging steady output in the first quarter of 2012, smelter sources and analysts said on Thursday.

Agricultural commodities daily review: India and other countries (December 12, 2011)

Soy oil ended flat. Palm oil ended higher by 0.60%. RM seed ended higher by 0.32%. Guar Seed ended higher by 4%. Guar Gum ended higher by 4%. Chana futures ended higher by 0.55%. Turmeric ended lower by 0.09%. Jeera ended higher by 2%. Pepper ended higher by 0.70%.

Oil and natural gas daily review (January 12, 2012)

Crude oil fell on Wednesday after a government report showed inventories of crude oil and refined products rose last week and as re-emerging concerns about Europe's debt crisis pushed the euro to a 16-month low against the dollar. China gave no hint on Wednesday of giving ground to U.S. demands to curb Iran's oil revenues, rejecting Washington's sanctions on Tehran as overstepping even as Treasury Secretary Timothy Geithner lobbied for Beijing's support.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 12, 2012)

Industrial metals was steady on Wednesday, after  rallying more than 3 percent in the previous session, as Chinese consumers held back purchases ahead of the Lunar New Year holidays. Pan Pacific Copper, Japan's biggest copper smelter, said on Tuesday it suspended operations at its 200,000 tonnes per year Saganoseki smelter on Jan. 7 after a fire damaged an electric power substation on the site.

Gold and silver daily review (January 12, 2012)

Precious metals rose to a one-month high on Wednesday, breaking ranks with the euro and equities, as evidence of strong physical demand from China fueled fund buying after bullion's recent sell-off. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund fell to 1254.16 tonnes by Jan 10, down by 0.14 tonnes from the previous business day.

Agricultural commodities daily review: India and other countries (December 11, 2011)

Soy oil ended lower by 0.42%. Palm oil ended lower by 1.57%. RM seed ended lower by 1.21%. Guar Seed ended higher by 4%. Guar Gum ended higher by 4%.  Chana futures ended higher by 0.09%. Turmeric ended lower by 0.90%. Jeera ended lower by 1.42%. Pepper ended lower by 4%.

Commodities daily update: precious metals, base metals, crude oil (January 10, 2012)

China's copper imports hit a record high in December as arbitrage and financing opportunities burnished the metal's appeal, but imports may be weaker from now to June as the Lunar New Year holidays and slower manufacturing weaken demand. Pan Pacific Copper, Japan's biggest copper smelter, said on Tuesday it suspended operations at its 200,000 tonnes per year Saganoseki smelter on Jan. 7 after a fire damaged an electric power substation on the site.

Oil and natural gas daily review (January 10, 2012)

Crude oil fell for a third straight session on Monday as concerns about the weak euro zone economy overshadowed worries over supply disruption amid Iran's threats to shut the vital Strait of Hormuz shipping oil route. Saudi Arabia, the world's top crude exporter, will supply full contracted volumes of crude oil in February to at least two Asian term buyers, unchanged from January, industry sources familiar with the matter said on Tuesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 10, 2012)

Industrial metals fell on Monday, erasing gains in the previous session, as concerns over slowing growth in the euro zone strengthened the U.S. dollar, making commodities priced in the unit more expensive in other currencies. More aluminium makers will follow in Alcoa's footsteps in the next few months and cut production, helping to reduce oversupply and support prices. China's imports of copper rose 12.6 percent to 508,942 tonnes in December from 452,022 tonnes the previous month, data from the General Administration of Customs showed.

Gold and silver daily review (January 10, 2012)

Precious metals edged lower on Monday, as a firmer dollar and worries about the euro zone debt crisis dragged down the prices. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1254.57 tonnes by Jan 09, remains unchanged from the previous business day. Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 9516.75 tonnes by Jan 09, remains unchanged from the previous business day.

Agricultural commodities daily review: India and other countries (December 10, 2011)

Soy oil ended higher by 1.54%. Palm oil ended higher by 1.01%. RM seed Feb ended higher by 1.86%. Guar Seed ended higher by 4%. Guar Gum ended higher by 4%. Chana futures ended lower by 0.44%. Turmeric ended lower by 1.47%. Jeera ended lower by 1.99%. Pepper ended lower by 1.77%.

Oil and natural gas daily review (January 09, 2012)

Crude oil fell on Friday as a stronger U.S. dollar made the dollar-denominated asset costlier, but the fall was capped by supply concerns after Iran's threat to shut a key oil-shipping route. France's leading CGT union is discussing possible action after Swiss oil refiner Petroplus temporarily shut three of its European refineries, a senior CGT official said on Friday, but downplayed the prospect of a new nationwide strike.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 09, 2012)

Industrial metals rose on Friday, erasing declines from earlier this week, after jobs data pointed to a recovery in the U.S. economy which offset concerns that the euro zone crisis is dragging demand growth lower. Following a year of tumultuous highs and lows, copper prices are expected to improve from the depressed levels at the end of 2011 and steady in 2012, as the market begins to balance rising demand by addressing supply shortfalls.

Gold and silver daily review (January 09, 2012)

Precious metals eased on Friday, snapping a five-session winning streak, but trade was choppy as investors digested a report of better U.S. job growth and the unemployment rate near a three-year low. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1254.57 tonnes by Jan 06, remains unchanged from the previous business day.

Agricultural commodities daily review: India and other countries (December 09, 2011)

Soy oil ended lower by 3.04%. Palm oil ended lower by 1.45%. RM seed Feb ended lower by 0.17%. Guar Seed ended higher by 0.22%. Guar Gum ended higher by 0.30%. Chana futures ended higher by 0.26%. Turmeric ended lower by 1.16%. Jeera ended lower by 4%. Pepper ended lower by 0.70%.

Agricultural commodities daily review: India and other countries (December 06, 2011)

Soy oil ended lower by 2.09%. Palm oil ended lower by 0.87%. RM seed Feb ended lower by 1.41%. Guar Seed ended lower by 1.06%. Guar Gum ended lower by 1.32%. Chana futures ended higher by 1%. Turmeric ended lower by 1.23%. Jeera ended lower by 2.37%. Pepper ended lower by 3.22%.

Oil and natural gas daily review (January 06, 2012)

Crude oil dropped back drastically and U.S. crude deepened losses near the close on Thursday as investors took a second look at data showing a surprise build in U.S. stockpiles and the sharp rise in the dollar encouraged traders to jettison riskier assets. Japan's commercial crude inventories rose 1 percent last week, despite the highest weekly crude runs since March, implying that crude imports were robust in the final week of 2011, industry data showed on Friday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (January 06, 2012)

Industrial metals rose on Thursday, rebounding from its biggest decline in two weeks, as demand from China boosted prices although worries over the euro zone's funding ability limited gains. Workers at First Quantum Minerals' flagship Zambian copper mine have resumed work after a two-day strike, the mine workers' union and company said on Thursday. Peru's mining ministry said on Tuesday output of copper rose in November from the same month a year earlier, but that production of most metals slipped.

Gold and silver daily review (January 06, 2012)

Precious metals rose on Thursday, breaking ranks with the euro for a second straight day, as a rise in U.S. equity markets on economic optimism sent bullion to a fifth straight day of gains. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1254.57 tonnes by Jan 05, remains unchanged from the previous business day. Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust fell to 9516.75 tonnes by Jan 05, down by 30.24 tonnes from the previous business day.