Commodities Archive

Agricultural commodities daily review: India and other countries (September 26, 2011)

Soy complex ended lower on rise in production estimates. Soy oil ended 0.32% lower. Cottonseed ended higher by 0.27%.Guar Seed ended higher by 0.56%.. Guar Gum ended lower by 0.74%. Chana futures ended lower by 0.16%.Cardamom futures ended higher by 1.45%on profit taking. Jeera ended lower by 0.52% on higher arrivals in the spot market. Turmeric ended lower by 3.98% on low demand in the spot market.

Agricultural commodities daily review: India and other countries (September 23, 2011)

Soy complex ended lower on rise in production estimates. Soy oil ended 0.64% lower. Cottonseed ended lower by 1.14%.Guar Seed ended lower by 0.70% on profit taking. Guar Gum ended lower by 0.70%. Chana futures ended lower by 1.24%.Cardamom futures ended lower by 3.85%on profit taking. Jeera ended lower by 1.42% on higher arrivals in the spot market. Turmeric ended lower by 4% on low demand in the spot market.

Oil and natural gas daily review (September 23, 2011)

Crude oil fell more than 6 percent on Thursday as weak economic signals added to the increasing concerns about slowing economic growth and as a stronger dollar helped pressure dollardenominated oil prices.Deputy Prime Minister Igor Sechin, Russia's top oil official, has authorised a cut in oil export duty from October, a government source told Reuters on Thursday, although a permanent cut has yet to be enshrined in customs law. Syria's oil exports have come to a standstill due to sanctions and this may force a cut in production, weakening President Bashar al-Assad's ability to generate cash but not threatening his grip on power yet, traders and analysts say.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 23, 2011)

Industrial metals fell to a one-year low on Thursday, as the dollar rose against the euro and as economic fears escalated after news of manufacturing contraction in top consumer China combined with a grim outlook for the U.S. economy. Freeport-McMoRan Copper & Gold Inc is unlikely to meet third-quarter sales estimates because of a strike at its vast Grasberg mine in Indonesia, the company said on Wednesday. Romania plans to make an announcement on the sale of state owned copper mine Cupru Min Abrud later this month via a tender, Victor Cazana, head of the industry privatisation office told Reuters.

Gold and silver daily review (September 23, 2011)

Precious metals posted their steepest losses in a month on Thursday, dragged down by a global flight from risk that raises new questions about bullion's value as a safe haven and the sustainability of its long rally.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund rose to 1252.21 tonnes by Sep 22, remains unchanged from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust fell to 9868.49 tonnes by Sep 22, down by 30.29 tonnes from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (September 22, 2011)

Freeport-McMoRan Copper & Gold Inc is unlikely to meet third-quarter sales estimates because of a strike at its vast Grasberg mine in Indonesia, the company said on Wednesday, sending its shares down over 5 percent.South Korea's crude oil imports fell about 4 percent on the year in August, swinging from two months of year-on-year growth due to delayed maintenance shutdowns at some local refining units. Japan's commercial crude inventories rose 1.4 percent last week despite higher crude runs, while kerosene stocks hit their highest level since December 2009, industry data showed on Thursday.

Oil and natural gas daily review (September 22, 2011)

Crude oil ended more than 1 percent lower on Wednesday as analysts deemed new easing measures by the Federal Reserve insufficient to jump-start the stalling U.S. economy.U.S. crude oil stocks posted their biggest weekly drop in more than nine months last week as imports fell and refiners ramped up utilization rates, boosting gasoline stockpiles, according to government data on Wednesday.South Sudan is taking control of vast oil resources previously managed by the North but the poor, two-month-old state needs urgent funds to boost infrastructure, a top oil ministry adviser told Reuters on Wednesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 22, 2011)

Industrial metals fell to near the day's lows in late trade on Wednesday; erasing most of the session's gains after the U.S. Federal Reserve launched a widely expected $400 billion plan to buy long-term Treasuries while warning of "significant" dangers to the economy.Freeport-McMoRan Copper & Gold Inc is unlikely to meet third-quarter salesestimates because of a strike at its vast  Grasberg mine in Indonesia, the company said on Wednesday, sending its shares down over 5 percent.

Gold and silver daily review (September 22, 2011)

Precious metals fell 1 percent on Wednesday after the Federal Reserve opted, as widely expected, to tweak monetary policy to stir U.S. growth, disappointing some investors who  had hoped for stronger stimulus measures. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund rose to 1252.21 tonnes by Sep 21, up by 1 tonnes from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust fell to 9898.78 tonnes by Sep 21, down by 22.71 from the previous business day.

Oil and natural gas daily review (September 21, 2011)

Crude oil rose on Tuesday, in choppy trading as the October contract approached expiration and bouncing after sliding the previous session on hopes the Federal Reserve may act to stimulate the economy. A series of supply squeezes have helped keep oil strong this year but some of them have been short-term factors and could give way to longer-term weakness as the outlook for the world economy and global fuel demand dims.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 21, 2011)

Industrial metals closed at a new 9-1/2 month low on Tuesday on poor global demand prospects after the International Monetary Fund (IMF) cut its outlook for global growth.

Gold and silver daily review (September 21, 2011)

Precious metals jumped to its biggest gain in eight sessions on Tuesday, snapping back from steep day-ago losses as the anticipation of further U.S. stimulus mingled with new fears over global growth.

Agricultural commodities daily review: India and other countries (September 20, 2011)

Soy complex ended lower on rise in production estimates. Soy oil ended 0.16% lower. Cottonseed ended lower by 2.28%Guar Seed ended higher by 0.22% on steady demand in spot. Guar Gum ended higher by 1.09%. Chana futures ended higher by 2.94%.Cardamom futures ended higher by 2.21%on short covering. Jeera ended higher 2.21% on good spot demand. Pepper ended higher by 1.54%.

Oil and natural gas daily review (September 20, 2011)

Crude oil fell on Monday as mounting concerns about the euro zone debt crisis fueled investor fears about the demand outlook for commodities, pressuring equities and the euro and strengthening the dollar.OPEC producers that raised oil output to compensate for the shutdown of Libyan oilfields will certainly reduce production as the North African country's output recovers, OPEC Secretary General Abdullah al-Badri said on Monday.Leading oil exporter Saudi Arabia produced 9.606 million barrels a day (bpd) of crude in July, 207,000 bpd less than in June, according to the latest official data published by the Joint Data Initiative (JODI).

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 20, 2011)

Industrial metals crumbled on Monday to its  cheapest price since late November as investors, fearful about further tightening measures in China and an inability by policymakers to resolve Europe's debt crisis heavily, reduced their exposure to risky assets.Workers at Peru's Cerro Verde mine, which yields 2 percent of the world's copper, agreed to end an indefinite strike they began last week, but may go down tools again on Sept. 27, a union leader said Monday.A new copper mine in North Korea, majority owned by China's Wanxiang Resources, started production on Monday and is expected to supply up to 70,000 tonnes of copper concentrate per year to China.

Gold and silver daily review (September 20, 2011)

Precious metals tumbled nearly 2 percent on Monday, with the U.S. dollar and Treasuries trumping bullion as preferred safe havens for investors seeking shelter from euro zone woes.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund rose to 1251.91 tonnes by Sep 16, up by 10.6 tonnes from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 9926.32 tonnes by Sep 16, remains unchanged from the previous business day.

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

Soy complex ended lower on rise in production estimates. Soy oil ended flat. Cottonseed ended lower by 0.15%Guar Seed ended higher by 0.96% on firm spot demand. Guar Gum ended higher by 0.41%. Chana futures ended higher by 1.71%.Cardamom futures ended higher by 1.87%on short covering. Jeera ended higher 1.05% on good spot demand. Pepper ended higher by 0.89%.

Oil and natural gas daily review (September 19, 2011)

Crude oil fell more than 1 percent on Friday as uncertainties surrounding the euro zone debt crisis and gloomy consumer outlook in the United States prompted pre-weekend selling. Iran says international crude oil prices will not rise with the onset of the cold season due to the continuing global economic slump, state broadcaster IRIB quoted an official on Saturday as saying. The amount of oil leaked from ConocoPhillips' oilfield in northern China's Bohai Bay has risen, even though all operations have been shut down, state media Xinhua reported on Friday, citing the China's State Oceanic Administration.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 19, 2011)

Industrial metals ended down on Friday, shedding early gains to post its second straight weekly loss as the dollar strengthened and worries about Europe's debt crisis had investors fretting about the global economy and the demand outlook for industrial metals.Japan's copper refining capacity is expected to recover to its full capacity of 1.7 million tonnes by the end of September after being hit by an earthquake and tsunami in March, a senior industry analyst said on Friday.

Gold and silver daily review (September 19, 2011)

Precious metals rallied 1 percent on Friday in volatile trade, as the safe-haven bid for precious metals returned when a survey showed U.S. consumers gloomy about the economic outlook.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund rose to 1251.91 tonnes by Sep 16, up by 10.6 tonnes from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 9926.32 tonnes by Sep 16, remains unchanged from the previous business day.

Oil and natural gas daily review (September 16, 2011)

Crude oil gained on Thursday as major central banks acted to bolster funding for European banks and the region's top leaders voiced support for beleaguered Greece, easing worries about euro zone debt.Libyan oil firm Agoco is seeking up to 90,000 tonnes of gasoline for delivery in the first half of October, traders said on Thursday, in a further sign the country's oil industry is reviving.The International Energy Agency said on Thursday it was formally ending its release of oil from emergency reserves to help cover a shortfall caused by the loss of Libyan output, deeming the move successful.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 16, 2011)

Industrial metals closed higher on Thursday, lifted by bullish hopes a funding plan to help European banks would restore confidence in the global economy and boost spending on industrial commodities.Partial blackout hit Zambia's main copper mining region and the capital of Lusaka, the state-run power company said on Thursday, potentially disrupting production in Africa's top producer of the metal.JX Nippon Mining and Metals Corp, the parent of Japan's top copper smelter, said appetite for copper in China remains solid, helping ally concerns that a global economic downturn could dampen demand in the country and drive down the price of the industrial metal.

Gold and silver daily review (September 16, 2011)

Precious metals fell 2 percent to three-week lows on Thursday, as increasing efforts to contain the European debt crisis fueled another volatile session, further diminishing bullion's appeal as a safe haven.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1241.31 tonnes by Sep 15, remains unchanged from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust rose to 9926.32 tonnes by Sep 15, up by 0.29 tonnes from the previous business day.

Agricultural commodities daily review: India and other countries (September 15, 2011)

Soy complex ended higher on firm spot demand. Soy oil ended higher by 0.53%. Cottonseed ended lower by 0.66%Guar Seed ended marginally lower. Guar Gum ended lower by 1.27%. Chana futures ended higher by 1.35%.Turmeric futures ended lower by 3.98% on expectation of better crop. Mentha futures ended higher by 2.49%. Jeera ended lower by 0.52%.

Oil and natural gas daily review (September 15, 2011)

Crude oil ended lower on Wednesday in choppy trading after a government report showed rising refined products inventories and weak demand for gasoline, offsetting a bigger-than-expected drop in crude stocks. Libya will begin exporting crude oil from the eastern port of Tobruk within ten days and could be producing 1 million barrels per day (bpd) within six months, the chairman of the National Oil Corporation (NOC) told Reuters on Wednesday. U.S. drivers curbed travel this summer as high pump prices pushed gasoline use to an eight-year low, government data showed on Wednesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 15, 2011)

Industrial metals fell to within 2 percent o f its 2011 low on Wednesday, stung by a string of poor U.S. data that compounded concerns about Western world growth prospects already muddied by Europe's escalating debt crisis.Workers at Freeport McMoran's Peru copper mine Cerro Verde started an indefinite strike for better pay and benefits on Wednesday, but production had not been materially affected, company and union spokesmen said.Southern Copper, one of the world's largest producers of the metal, is looking to sell copper to China starting in 2013, its chief executive said.

Gold and silver daily review (September 15, 2011)

Precious metals fell on Wednesday as urgent efforts to end the euro zone crisis drew investors back toward riskier markets.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1241.31 tonnes by Sep 14, remains unchanged from the previous business day. Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust rose to 9926.03 tonnes by Sep 14, up by 30 tonnes from the previous business day.

Agricultural commodities daily review: India and other countries (September 14, 2011)

Soy complex ended lower on firm spot demand. Soy oil ended lower by 0.48%. Cottonseed ended lower by 0.74%. Guar Seed ended lower by 1.04%. Guar Gum ended lower by 0.99%. Chana futures ended higher by 0.72%. Cardamom futures ended lower by 0.67%. Jeera ended higher by 0.50%. Chilli futures fell by 0.47% on profit booking.

Commodities daily update: precious metals, base metals, crude oil (September 14, 2011)

Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund fell to 1241.31 tonnes by Sep 13, down by 0.61 from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 9926.03 tonnes by Sep 13, remains unchanged from the previous business day.Gold and gold receivables held by euro zone central banks rose by 1 million euros to 363.249 billion Euros in the week ending Sept. 9, the European Central Bank said on Tuesday.

Oil and natural gas daily review (September 14, 2011)

Crude oil rose on Tuesday, ending at the highest level in five weeks as the dollar weakened and forecasters called for weekly data to show a drawdown in crude stocks.U.S. crude stockpiles likely fell for the second consecutive time last week as preparations for Tropical Storm Lee disrupted production in the oil-rich Gulf of Mexico, an extended Reuter's poll showed on Tuesday.A leak from a shallow water crude oil pipeline in the Main Pass Area of the Gulf of Mexico has led Chevron to shut down its offshore Louisiana Main Pass pipeline network, the company said on Tuesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 14, 2011)

Industrial metals eked out a modest gain by the close on Tuesday, underpinned by weakness in the dollar but limited in its upside mobility by Europe's festering debt crisis and its negative implications for Western world demand prospects.Global copper mine output from top producers gathered steam last quarter, up the most in more than a year as new projects injected supply to a market strained by declining ore grades and labor disputes.Early indications of second-quarter mined copper output signal a budding trend of incremental mine supply growth from newer lines of production that could very well rebalance the supply/demand gap in the years ahead.

Gold and silver daily review (September 14, 2011)

Precious metals held steady on Tuesday, as investors flocked to bullion for safe haven  from fears of crisis contagion in Europe while technical weakness and a strong dollar weighed on prices.Holdings in the SPDR Gold Trust the  world's largest gold-backed exchange traded fund fell to 1241.31 tonnes by Sep 13, down by 0.61 from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 9926.03 tonnes bySep 13, remains unchanged from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (September 13, 2011)

Global nickel stockpiles are now rising slightly after declining for over a year-and a- half, putting pressure on prices, according to Norilsk Nickel, the world's largest nickel and palladium producer.World oil consumption will increase at a slower rate than expected this year and next as the pace of global economic growth declines, the International Energy Agency (IEA) said on Tuesday.Vietnam's Dung Quat oil refinery is  running at full capacity from Tuesday and all of its products will be absorbed by domestic markets.

Oil and natural gas daily review (September 13, 2011)

Crude oil rose on Monday, propped up by spread trading with Brent crude, which took a hit from concerns about the euro zone debt crisis that could weaken Europe's economy and dent oil demand. OPEC cut its forecast for global oil demand growth next year because of a worsening economic outlook and said a disappointing economic performance in top consumer the United States could further weigh on fuel use.U.S. crude stockpiles likely fell last week after Tropical Storm Lee disrupted oil production in the Gulf of Mexico, a preliminary Reuter's poll found on Monday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 13, 2011)

Copper ended down for a second straight day on Monday, dropping to its cheapest level in a month, as European debt worries escalated and demand prospects dimmed, undermining investor confidence in industrial metals. China's imports of copper rose 11.0 percent to 340,398 tonnes in August from 306,626 tonnes in the previous month, data  from the General Administration of Customs showed.Central Asia's largest producer of primary aluminium, Tajikistan Aluminium Company (TALCO), cut output of the metal to 189,838 tonnes in the January-August period, down 20 percent year on year, a company source said on Monday.

Gold and silver daily review (September 13, 2011)

Precious metals dropped 2.5 percent on Monday, falling further from last week's record highs, as mounting fears about the European debt crisis prompted investors to sell bullion to cover losses in equity markets.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1241.92 tonnes by Sep 12, remains unchanged from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust rose to 9926.03 tonnes by Sep 12, up by 78.75 tonnes from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (September 12, 2011)

China's imports of copper rose 11.0 percent to 340,398 tonnes in August from 306,626 tonnes in the previous month, data from the General Administration of Customs showed.Central Asia's largest producer of primary aluminium, Tajikistan Aluminium Company (TALCO), cut output of the metal to 189,838 tonnes in the January-August period, down 20 percent year on year, a company source said on Monday.Libyan oil firm the Arabian Gulf Oil Company (Agoco) said on Monday it has restarted production at the eastern oilfield of Sarir in an early sign the industry is coming back to life after six months of war.

Oil and natural gas daily review (September 12, 2011)

Crude oil fell on Friday as the euro and equities tumbled on increasing gloom over economic growth and reinforced worries about Europe's debt problems. Libya has started producing oil again, the country's interim prime minister said on Sunday, promising that more of it would come online in the "near future".China's key commodity imports, including crude oil, copper and iron ore, all climbed in August from the previous month, adding to evidence that demand in world's second-largest economy was still going strong despite the economic turmoil in the West.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 12, 2011)

Industrial metals capped its worst weekly performance in more than a month with a more than 3 percent plunge on Friday, as worries about slowing growth prospects in the Western world triggered an unrelenting wave of risk  reduction.China's imports of copper rose 11.0 percent to 340,398 tonnes in August from 306,626 tonnes in the previous month, data from the General Administration of Customs showed.Workers at Peru's No. 3 copper producer Cerro Verde were back on the job on Friday after a two-day pay strike but could launch an indefinite walkout next week, a union representative said.

Gold and silver daily review (September 12, 2011)

Precious metals slid on Friday, closing its worst week since June, as profit-taking by investors and a spike in the U.S. dollar outweighed the desire for a safer haven.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund rose to 1241.92 tonnes by Sep 09, up by 10.51 tonnes from the previous business day. Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 9847.28 tonnes by Sep 09, unchanged from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (September 09, 2011)

China is likely to have imported slightly more crude oil and copper in August, with data on Saturday expected to indicate that economic growth in the world's largest consumer of commodities remains on track despite global gloom. Vietnam has offered Chim Sao crude for loading in October, its second new grade in two months, as it reverses a slide in exports with new and expanded  production that could make it Southeast Asia's second-largest exporter by 2012.Chinese refineries processed 4.5 percent more crude oil in August versus the same month a year ago, or about 8.66 million barrels per day, the second-lowest daily processing rate this year, according to official output data released on Friday.

Oil and natural gas daily review (September 09, 2011)

Crude oil edged lower in choppy trading on Thursday as Wall Street fell and the dollar strengthened after the U.S. Federal Reserve Chief failed to outline new steps to spur economic growth in a speech. The International Energy Agency (IEA) will release emergency oil reserves only in case of a supply disruption and not to help the economy or lower prices, its new executive director said on Thursday.Protesters battled riot police with rocks and homemade bombs on Thursday in a protest against Colombia's fourth-largest oil producer, Petrominerales Ltd, forcing the Canadian firm to suspend output.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 09, 2011)

Industrial metals ended higher in choppy trade on Thursday as tight supplies underpinned values and a better performance on U.S. trade buoyed third-quarter growth prospects in the world's largest economy.Treatment and refining charges those Chinese smelters receive for converting concentrate imports into copper have fallen nearly 18 percent from July due to supply disruptions, traders said on Thursday.China is likely to have imported slightly more crude oil and copper in August, with data on Saturday expected to indicate that economic growth in the world's largest consumer of commodities remains on track despite global gloom.

Gold and silver daily review (September 09, 2011)

Precious metals rose 3 percent on Thursday, erasing the previous day's loss, as investors awaited President Obama's speech on the U.S. economy, after a dim outlook for the euro zone from the European Central Bank.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund fell to 1231.41 tonnes by Sep 08, down by 0.9 tonnes from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust fell to 9847.28 tonnes by Sep 08, down by 7.57 tonnes from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (September 08, 2011)

Russia's gold and foreign exchange reserves rose to $543.4 billion in the week to Sept. 2 from $541.8 billion a week earlier, central bank data showed on Thursday.Treatment and refining charges those Chinese smelters receive for converting concentrate imports into copper have fallen nearly 18 percent from July due to supply disruptions, traders said on Thursday.The International Energy Agency (IEA) will release emergency oil reserves only in case of a supply disruption and not to help the economy or lower prices, its new executive director said on Thursday.

Commodities daily update: precious metals, base metals, crude oil (September 07, 2011)

 Kazakhstan's central bank said on Wednesday it would be buying up the Central Asian nation's entire gold bullion output until at least 2014-15 to ease its exposure to the sagging dollar.A construction company building Zambia's Muliashi copper mine, owned by China Nonferrous Metals Co Ltd, said on Tuesday it would sack 1,200 striking workers if they did not return to work immediately. China's nickel ore imports are expected to slow in the second half compared with the first, an executive at the country's top nickel producer Jinchuan Group told Reuters on Wednesday.

Oil and natural gas daily review (September 07, 2011)

Crude oil fell for a second session Tuesday on worries that the euro zone debt crisis could stifle world economic growth, but a new weather disturbance in the Gulf of Mexico pared losses sharply.Mexico's largest oil refinery shut down on Tuesday after a power outage but the state oil monopoly Pemex said it expects operations to resume by the end of the day.China's steam coal demand growth will gradually ease over 2011-2015, as economic growth moderates and as Beijing restructures its economy, an official with China Electricity Council said on Wednesday.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 07, 2011)

Industrial metals slipped for a third day on Tuesday as the dollar rose against other major currencies and investors fretted about demand from the United States and Europe. Freeport McMoRan Copper & Gold's Indonesia mine workers are set to strike from Sept. 15 to Oct. 15 unless the firm meets their demands for a pay rise, Julia Parorongan, the firm's workers union spokeswoman, told Reuters on Tuesday.A construction company building Zambia's Muliashi copper mine, owned by China Nonferrous Metals Co Ltd, said on Tuesday it would sack 1,200 striking workers if they did not return to work immediately.

Gold and silver daily review (September 07, 2011)

Precious metals jumped to a record high on Tuesday after Switzerland pegged its currency to the euro, before closing down as investors took profits. Analysts said they still expect the precious metal to chart new peaks on worsening euro zone troubles.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1232.31 tonnes by  Sep 06, remains unchanged from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 9782.15 tonnes by Sep 06, remains unchanged from the  previous business day.

Commodities daily update: precious metals, base metals, crude oil (September 06, 2011)

Turkish gold imports rose to 17.14 tonnes in August from 10.5 tonnes a month earlier, according to Istanbul Gold Exchange data released on Monday.A new zinc mine in west Africa is due to start up in mid-2012, just as some of the world's largest deposits are winding down, creating the first window in years for new suppliers in a chronically oversupplied market. China's primary aluminium output may drop in September from a month ago as power shortages hit smelters in southwestern provinces of Guizhou and Guangxi, industry sources said on Tuesday.

Oil and natural gas daily review (September 06, 2011)

Crude oil fell more than 2 percent for a third successive day of losses on Monday, tumbling in tandem with other risk assets as European bank and debt jitters and doubts over global growth haunted traders. Several offshore oil and gas producers said on Monday that high winds and rough seas off Louisiana's coast prevented full-out restaffing and restarting Gulf of Mexico platforms that were shut and evacuated last week as Tropical Storm Lee approached. Libya's Benghazi-based oil firm the Arabian Gulf Oil Company (AGOCO) said on Monday it will restart its two refineries by late September, when production begins in the linked eastern oilfields of Sarir and Mesla.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 06, 2011)

Industrial metals traded at its lowest in more than a week on Monday after a historic low reading for China's services sector index and a disappointing U.S. jobs report last week stoked concerns of a slowdown in global economic growth.Schroders is targeting copper and coal miners in its natural resources equity fund given the tight supply, and believes a slowdown in the West would only encourage China to go on a buying spree, providing support for industrial commodities.

Gold and silver daily review (September 06, 2011)

Precious metals edged higher on Monday, retaining its gains from the previous session, when dismal U.S. job data triggered safe-haven buying to boost the precious metal more than 3 percent, and lingering worries about euro zone's debt crisis lent support.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1232.31 tonnes by Sep 05, remains unchanged from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust stood at 9782.15 tonnes by Sep 05, remains unchanged from the previous business day.

Oil and natural gas daily review (September 05, 2011)

Crude oil ended lower on Friday ahead of the Labor Day holiday weekend as a bleak jobs report stoked recession worries, outweighing production shut-ins in the Gulf of Mexico as Tropical Storm Lee formed near the Louisiana coast. More than half of U.S. crude oil output in the Gulf of Mexico was shut in on Sunday as Tropical Storm Lee hindered efforts to restaff and restart oil and gas platforms in the basin.The European Union imposed a ban on purchases of Syrian oil on Saturday and warned of further steps unless President Bashar al-Assad's government ends its fivemonth crackdown on dissent.

Industrial metals (copper, aluminium, nickel, etc.) daily review (September 05, 2011)

Copper fell on Friday after poor U.S. jobs data for August fuelled concerns about the health of the world's top economy while the threat of kinks in a constrained supply pipeline provided a floor for prices.Chile's Escondida copper mine, the world's biggest, said on Friday that it had lifted force majeure declared on concentrate shipments late last month amid a two-week strike. Copper capped its worst monthly performance in more than a year with a firmer close on Wednesday, as concerns about tightening supply and upbeat U.S. data steered the rally.

Gold and silver daily review (September 05, 2011)

Paralysis in the U.S. jobs market reinforced fears of recession on Friday, driving investors out of stocks and into the safety of bonds, gold and the Swiss franc. Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1232.31 tonnes by Sep 02, remains unchanged from the previous business day. Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust fell to 9782.15 tonnes by Sep 02, up by 35.35 tonnes from the previous business day.

Commodities daily update: precious metals, base metals, crude oil (August 30, 2011)

Japan's refined copper exports fell 26 percent in July from a year earlier to 33,254  tonnes, down for a 10th straight month, but the pace slowed from June's 39 percent drop, Ministry of Finance data showed on Tuesday.Japan's refined zinc exports for July fell 12 percent from a year earlier to 6,680 tonnes, a slower pace of decline than the previous month as production slowly recovers from the massive earthquake in March.China's demand for refined lead is picking up after a fall in consumption in the May to July period, as higher prices spur greater production of lead-acid batteries, industry sources said on Tuesday.

Oil and natural gas daily review (August 30, 2011)

Crude oil rose more than 2 percent on Monday as consumer spending posted its largest rise in five months in July, reinforcing views the economy was not sliding back into recession. European Union governments may impose sanctions on Syrian banks as well as energy and telecommunications companies within a week, along with a planned embargo on oil imports from the country, EU diplomats said on Monday. Brazil will cut the amount of ethanol biofuel it puts in its gasoline from October 1, the energy minister said on Monday, after a disappointing sugar cane crop too small to keep pace with growing demand.

Industrial metals (copper, aluminium, nickel, etc.) daily review (August 30, 2011)

Industrial metals finished lower on Monday, pressured by gains in the dollar after strong U.S. personal spending data.Japan's refined copper exports fell 26 percent in July from a year earlier to 33,254 tonnes, down for a 10th straight month, but the pace slowed from June's 39 percent drop, Ministry of Finance data showed on Tuesday. Production of copper, zinc and silver fell in July in Peru due to shrinking reserves at key mines and lower-quality ore, although gold output rose from the same month a year ago, the government said on Sunday.

Gold and silver daily review (August 30, 2011)

Precious metals remained lower into late trade on Monday, as Wall Street stocks added to their gains on increased investor risk tolerance, but bullion cut its decline to about 2.20 percent as some buyers bought dips.Holdings in the SPDR Gold Trust the world's largest gold-backed exchange traded fund stood at 1230.80 tonnes by Aug 29, remains unchanged tonnes from the previous business day.Holdings in the world's largest silver backed exchange-traded fund iShares Silver Trust fell to 9746.80 tonnes by Aug 29, up by 25.75 tonnes from the previous business day.