Gold Price Today: Yellow bullion opens flat at Rs 71,350/10 grams; silver at ...
Tuesday, May 7,2024,01:19
In the US, spot gold rose 1% to $2,324.94 per ounce by 2:00 p.m. ET (1800 GMT). U.S. gold futures for June delivery settled 0.9% higher at $2,331.2 per ounce. .. read more..
Gold prices tick higher on US rate cut bets
Monday, May 6,2024,22:29
Data on Friday showed job growth in the U.S. slowed more than expected in April, while the increase in annual wages fell below 4.0% for the first time in nearly three years. .. read more..
Oil edges up after Israel strikes Gaza, while truce talks continue
Monday, May 6,2024,22:24
Brent crude futures were up 46 cents, or 0.55%, at $83.79 per barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 46 cents, or 0.59%, to $78.94 a barrel. .. read more..
Rich Chinese beef consumers are becoming more aware of traceability and Amazo...
Monday, May 6,2024,16:24
A survey conducted in Beijing and Shanghai between two renowned academic groups in China and Brazil, revealed that some Chinese consumers are willing to pay more for beef, provided it is not linked to deforestation in the Amazon and have a budding interest in traceability. .. read more..
Cooperfarms ponders cereal-based ethanol production in Northeast Brazil
Monday, May 6,2024,12:47
Brazilian agribusiness cooperative Cooperfarms plans to build what could be Bahia's first cereal-based ethanol plant, aiming to use corn and sorghum as feedstocks instead of the more traditionally employed sugarcane. Ethanol from corn has been on the Brazilian market for years, but not in the Northeast, where most regional producers turn to sugarcane as a primary feedstock source to manufacture... .. read more..
Asian rice exporters brace for possible Bulog tender in May
Monday, May 6,2024,10:37
Top Asian rice exporters are bracing for a possible tender from Indonesian state purchasing agency Bulog in May that could support prices in the short term. In calendar year 2024, Bulog has so far announced four tenders, purchasing 1.4 million mt. Vietnam, Thailand, Myanmar and Pakistan have been the top suppliers to Bulog this year. The Indonesian state purchasing agency... .. read more..
COT: Commodities correction spurs muted selling response
Monday, May 6,2024,05:15
Our weekly Commitment of Traders update highlights future positions and changes made by hedge funds and other speculators across commodities and forex during the week to last Tuesday, April 30 Key points: Commitment of Traders report highlighting futures positions and changes made by speculators across forex and commodities during the week to 30 April Emerging profit taking on dollar long positions ahead three-day slump Buying of grains offsetting reductions elsewhere, most notably in metals and softs COT on forex Weeks of dollar strength that recently lifted the non-commercial dollar long position against eight IMM futures to near a five-year high showed signs of running out of momentum ... .. read more..
Gold Price Today: Yellow metal rises to Rs 70,876/10 grams, silver at Rs 81,7...
Monday, May 6,2024,00:21
Gold Price Today: Gold prices firmed on Monday as expectations that the Federal Reserve will start cutting interest rates later in the year and tensions in the Middle East boosted the allure of the non-yielding bullion. .. read more..
INTERVIEW: Singapore's Kenoil to test biobutanol marine fuel with its engines...
Sunday, May 5,2024,22:43
Singapore's Kenoil Marine Services will begin testing biobutanol blends with its current engines later this year, using biofuel produced from a pilot production plant its partner had invested in, its director said in an interview with S&P Global Commodity Insights. The pilot plant – located in Johor, Malaysia – is expected to deliver its first biobutanol this month, produced from... .. read more..
Gold dips as dollar edges higher, investors seek more Fed cues
Sunday, May 5,2024,22:15
Data on Friday showed that U.S. job growth slowed more than expected in April, reinforcing expectations that the Fed will start cutting interest rates later this year. .. read more..
Oil nudges higher after Saudi Arabia hikes prices
Sunday, May 5,2024,22:14
Brent crude futures climbed 28 cents, or 0.3%, to $83.24 a barrel at 0119 GMT, while U.S. West Texas Intermediate crude futures were at $78.40 a barrel, up 29 cents, or 0.4%. .. read more..
Campaign in several US states to ban sale of lab-grown "cultivated" meat
Sunday, May 5,2024,08:03
Several US states, spear headed by Florida are on a campaign to ban the sale and distribution of lab-grown or "cultivated" meat. The process of making cultivated meat involves extracting cells from an animal, which are then fed with nutrients such as proteins, sugars and fats, and they were first cleared for consumption in the US in 2022. The end product is genetically indistinguishable from traditionally produced meat. .. read more..
Inflation concerns weigh on gold as yellow metal ends with second weekly decl...
Sunday, May 5,2024,04:21
Spot gold closed $2 down at $2301 in a highly volatile market Friday. US nonfarm payroll and ISM services data fell short of forecast; however, inflationary pressure continues to build up. .. read more..
Learn with ETMarkets: How to safeguard gold, silver portfolio in volatile mar...
Sunday, May 5,2024,03:12
In the unpredictable world of gold and silver trading, volatility is a constant companion, posing both opportunities and risks for investors. .. read more..
Japanese PM discusses Mercosur FTA with Paraguay's President
Saturday, May 4,2024,06:59
Paraguayan President Santiago Peña and Japan's Prime Minister Fumio Kishida met Friday in Asunción to strengthen bilateral ties as well as to further discuss a free trade agreement (FTA) with the Southern Common Market (Mercosur). Peña, who holds the group's rotating presidency, expressed in a statement his “fervent desire” to “move forward with a free trade agreement between Mercosur and Japan.” .. read more..
Oil settles down on US jobs data, steepest weekly loss in 3 months
Saturday, May 4,2024,00:43
Brent crude futures for July settled 71 cents lower, or 0.85%, to $82.96 a barrel. U.S. West Texas Intermediate crude for June fell 84 cents, or 1.06%, to $78.11 a barrel. .. read more..
Gold resumes retreat despite soft jobs report as traders book profits
Saturday, May 4,2024,00:43
Prices quickly gave up gains after jumping as high as $2,320.78 immediately after the release of data showing U.S. nonfarm payrolls increased by 175,000 jobs last month, lower than economists' forecast of 243,000. .. read more..
Weather-related boost to grains as softs and energy correction extends to a s...
Friday, May 3,2024,09:00
The commodity sector reversed some of the strong gains seen during the past two months after the general sentiment was weighed down by an uncertain economic outlook, not least in the US Key points Commodity Sector Sentiment : Uncertain economic outlook, particularly in the US, leads to reversal of recent gains in commodity sectors, impacted by Federal Reserve's delicate balance between economic data and inflation concerns. Sector Performance Overview : Energy and precious metals sectors experience setbacks, while grains sector sees gains driven by weather conditions in key regions. Industrial metals pause amid signs of short-term softness in Chinese demand. Crude Oil Market Dynamics : Ste... .. read more..
Bunker supplies return to Indian ports; Sri Lanka markets stable in April: tr...
Friday, May 3,2024,07:36
Indian bunker markets are now amply suppled with very low sulfur fuel oil after four months of shortages , according to traders, with VLSFO prices declining accordingly Platts, part of S&P Global Commodity Insights, assessed 0.5% marine fuel oil delivered to Mumbai at $683/mt CFR on May 2, down $22/mt week on week, while in Kochi prices fell to $668/mt,... .. read more..
Russian oil product exports slump to post-pandemic low as drone hits resume
Friday, May 3,2024,07:20
Russian oil product exports slumped to a post-pandemic low in April, according to tanker tracking data, as Moscow battles to repair its Western refineries which remain under siege from Ukrainian drones. Seaborne Russian export loadings of diesel, fuel oil, naphtha and other refined products picked up slightly in the second half of April to average 1.94 million b/d, according to... .. read more..
Malaysia looks to tap palm oil biomass for producing advanced fuels
Friday, May 3,2024,02:30
Malaysia will focus on using biomass created by the palm oil industry as a feedstock for new and advanced fuels, Deputy Minister of Investment, Trade and Industry, YB Liew Chin Tong, said May 2. The government is looking to bolster the biomass sector by attracting investments and to see biomass as "a necessary enabler for new and high value-added industries,"... .. read more..
Gold Price Today: Yellow metal opens at Rs 70,634 per 10 grams; Silver at 81,...
Friday, May 3,2024,00:58
Amid easing Middle East tensions, safe haven buying in bullion seems to be diminishing as gold prices on MCX for June futures contracts fell by Rs 102 or 0.14% on Friday to trade at Rs 70,634 per 10 grams while MCX July silver contracts were down by Rs 44 or 0.05% to Rs 81,319 per kg. .. read more..
Gold flat ahead of US payrolls data, set for 2nd weekly drop
Thursday, May 2,2024,22:49
The U.S. central bank held interest rates steady on Wednesday and indicated it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming. .. read more..
Oil steadies, heads for weekly drop on U.S. economy worries
Thursday, May 2,2024,22:48
Brent crude futures for July rose 16 cents to $83.83 a barrel by 0008 GMT. U.S. West Texas Intermediate crude for June was up 19 cents to $79.14 per barrel. .. read more..
US chicken leg quarter values rise in March even as exports continue to decli...
Thursday, May 2,2024,17:57
The US exported its lowest amount of frozen chicken leg quarters in almost five years in March, but sellers managed to reach the highest value for the product since the third quarter of 2022, according to US Department of Agriculture data released May 2. The USDA's Foreign Agricultural Service reported about 106,000 mt of frozen chicken leg quarters -- the... .. read more..
Global rice market stable but weather risk remains, Louis Dreyfus exec says
Thursday, May 2,2024,17:00
Global rice supplies have stabilised after last year’s rally, although the market remains vulnerable to risks from dry weather caused by the El Nino, a senior executive at commodity merchant Louis Dreyfus Co (LDC) said. Rice prices in key Asian export hubs RI-THBKN5-P1, RI-VNBKN5-P1 have eased in recent weeks after climbing last year to their ... .. read more..
Turkish steel market gripped by bearish 2024 finished steel outlook: Irepas
Thursday, May 2,2024,17:00
Market participants voiced a bearish outlook for the Turkish steel and scrap markets in 2024, market sources told S&P Global Commodity Insights during the 90th International Rebar Producers and Exporters Association, or Irepas, conference held in Berlin over April 28-30. Sources pointed to mills contending with uncertainty around high global interest rates, the threat of ... .. read more..
ArcelorMittal Q1 earnings top forecast, keeps outlook
Thursday, May 2,2024,17:00
ArcelorMittal, the world’s second-largest steelmaker, on Thursday reported first-quarter earnings ahead of analyst expectations and reiterated it expects global steel demand outside China to increase 3-4% this year. The Luxembourg-based company said its first quarter core profit (EBITDA) was $1.96 billion, higher than the average forecast in a company poll of $1.81 billion, but lower ... .. read more..
Coal India production increases 7.3% to 61.8 million tonnes in April
Thursday, May 2,2024,13:00
State-owned CIL on Wednesday said its production increased 7.3 per cent to 61.8 million tonnes (MT) in April. The company had produced 57.6 MT of coal in the corresponding month of the previous fiscal, Coal India Ltd (CIL) said in a filing to the BSE. CIL accounts for over 80 per cent of domestic coal ... .. read more..
Oil edges back towards 7-week low after resilient US jobs data
Thursday, May 2,2024,12:34
Brent crude futures for July were up 40 cents, or 0.5%, at $83.84 a barrel by 1332 GMT, having earlier touched a session peak of $84.44. U.S. West Texas Intermediate (WTI) crude for June was 27 cents, or 0.3%, firmer at $79.27, off a high for the day of $79.90. .. read more..
Commodity Tracker: 5 charts to watch this week
Thursday, May 2,2024,09:00
It is a crucial year for renewable hydrogen as Asian buyers are set to launch tenders for their future needs for environment-friendly fuels. In shipping, a joint study by S&P Global Commodity Insights and S&P Global Market Intelligence showed that the size of “shadow” tanker fleet involved in transporting oil from sanctioned countries has grown. ... .. read more..
Gold climbs Rs 500; silver jumps Rs 400
Thursday, May 2,2024,08:45
Gold prices climbed Rs 500 to Rs 72,350 per 10 grams in the national capital on Thursday amid a rally in precious metal rates in the global market, according to HDFC Securities. In the previous session, it had closed at Rs 71,850 per 10 grams. .. read more..
Copper's rally, fueled by momentum, halts amid weakening fundamentals
Thursday, May 2,2024,07:00
Copper trades lower as the month-long momentum-driven rally shows signs of running out of steam, primarily due to softness in the short-term demand outlook in China Key points Copper's momentum-driven rally halted by deteriorating short-term fundamentals Our long-term price supportive outlook has not changed Rising China stockpiles and drop in import premiums point to short-term demand softness Hedge funds resilience may determine the size of the correction Copper trades lower for a third day as the month-long momentum-driven rally shows signs of running out of steam, primarily due to softness in the short-term demand outlook in China, combined with the risk of long liquidation from hedge... .. read more..
Copper smelters in leading buyer China wary of Anglo American tie-up
Thursday, May 2,2024,05:00
Chinese smelters, the world’s biggest buyers of mined copper, are concerned they will lose power to negotiate prices if BHP Group, known locally as “the big miner”, succeeds in its bid for rival Anglo American. BHP, the world’s largest listed mining group, is fine-tuning an offer that could make it the biggest producer of copper, ... .. read more..
Copper rises to trade near $10,000/T on softer dollar
Thursday, May 2,2024,05:00
Copper prices rose on Thursday and hovered near a key resistance level of $10,000 a metric ton, supported by a softer dollar, although an analyst said weak demand could limit further gains. Three-month copper on the London Metal Exchange (LME) CMCU3 rose 0.5% to $9,944.50 per ton by 0650 GMT, aluminium CMAL3 edged up 0.2% ... .. read more..
First project methodologies of carbon credits to be approved by June: Integri...
Thursday, May 2,2024,04:01
Carbon credits with a high-integrity label are set to appear on the market not long after the first decisions on project methodologies are made in June, the Integrity Council for the Voluntary Carbon Market said May 2. Carbon crediting programs with a 98% share of the market now meet the high-integrity Core Carbon Principles labels, the governance body said in... .. read more..
Ukraine's grain exports to drop in MY 2024-25 amid lower supply, smaller outp...
Thursday, May 2,2024,01:50
Ukraine's grains exports will likely decrease in marketing year 2024-25 (July-June) because of lower supply as a result of reduced production volumes, with the Ukrainian Grain Association estimating the country's total grain exports to reach 35.5 million mt in MY 2024-25 on March 12. The USDA's Foreign Agricultural Service's Kyiv (Ukraine) attaché also estimated on April 15 lower wheat and... .. read more..
Gold Price Today: Yellow metal opens above Rs 71,000/10 grams, while silver a...
Thursday, May 2,2024,00:56
Gold prices increased as the Federal Reserve indicated a less aggressive stance on interest rate hikes, leading to lower U.S. treasury yields and a weaker dollar. The softening dollar, coupled with market speculation about Japan intervening to support the yen, further helped boost gold prices. .. read more..
Gold prices drift higher as Fed stands pat on key interest rate
Wednesday, May 1,2024,22:29
The Fed held interest rates steady on Wednesday, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming. .. read more..
Oil prices pick up on prospect of US replenishing strategic reserve
Wednesday, May 1,2024,22:25
"The oil market was supported by speculation that if WTI falls below $79, the U.S. will move to build up its strategic reserves," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities. .. read more..
Green premium remains for renewable hydrogen after EU's 1.5-GW auction result
Wednesday, May 1,2024,11:20
The low clearing price for the EU's inaugural European Hydrogen Bank auction, with funding for 1.5 GW of electrolysis across seven successful projects, shows a willingness to pay a "green premium" by offtakers, industry representatives said. The first auction under the European Hydrogen Bank mechanism cleared well below the ceiling price on April 30, with the seven winning projects bidding... .. read more..
Oil falls for a third day on Middle East ceasefire hopes
Wednesday, May 1,2024,10:24
Oil fell more than 1% on Wednesday, losing ground for a third straight session, sapped by the prospect of a ceasefire agreement in the Middle East and persistent U.S. inflation dampening the expected pace of interest rate cuts. .. read more..
Removal of export duty may lift demand for Russian thermal coal
Wednesday, May 1,2024,07:36
Russian thermal coal may see higher demand following its government's decision to temporarily remove the duties on its export of thermal coal and anthracite from May 1 to Aug. 31, market sources told S&P Global Commodity Insights. The top five consumers of Russian thermal coal, barring Taiwan, have seen a drop in imports from Russia as a result of various... .. read more..
ECSA WATCH: Atlantic dry bulk market strength likely to wane in May on higher...
Wednesday, May 1,2024,06:34
Market participants in the East Coast South America region maintained a slightly bearish tone for the Atlantic Panamax dry bulk market amid concerns on deteriorating fundamentals, citing an oversupply of ships despite a healthy cargo book extending through May. The ECSA region is a crucial support pillar within the Atlantic Panamax dry bulk market during the peak grain season. Grain... .. read more..
Russia's Ryazan refinery targeted in second drone strike: reports
Wednesday, May 1,2024,06:11
A fire broke out at Russia's Ryazan refinery after an overnight drone strike, according to local reports May 1, with the Rosneft-owned plant targeted by suspected Ukrainian attacks again just weeks after returning to full capacity. Russian media reported that the refinery was ablaze after an attack on the site, circulating videos of the fire in the early hours of... .. read more..
Gold’s correction extends to Rs 3000/10 gram in April. Has it made a near ter...
Wednesday, May 1,2024,02:17
Can we expect the trends to reverse or a top has been made? This is what multiple experts tell ETMakets as they spell out their trading strategy. .. read more..
Hogs Mixed Around at the Tuesday Close
Wednesday, May 1,2024,01:26
Lean hogs closed out the Tuesday session with contracts anywhere from 45 cents lower to 62 cents and the summer months the weakest. USDA’s National Average Base Hog negotiated price was up $2.40 from the day prior on Tuesday afternoon at $92.03. The CME Lean Hog Index was back down... .. read more..
Cotton Falls on Turnaround Tuesday
Wednesday, May 1,2024,01:26
Cotton futures collapsed on Tuesday, with contracts down 128 to 309 points across the front months and deferreds 31 to 79 points lower. Price limits are back to 3 cents due to nearby futures getting back to the 70 cent level. Crude Oil was down $1.09 per barrel, with the... .. read more..
Cattle Extends Slide on Tuesday
Wednesday, May 1,2024,01:26
Live cattle closed out the Tuesday session with contracts fading off another $2.17 to $2.72 as April rolled off the board. Cash trade has yet to develop this week, with last weeks was $182-183 in the South, steady to $1 higher. Northern trade was reported at $184-186, steady to $2... .. read more..
Wheat Falls into Month End
Wednesday, May 1,2024,01:26
The wheat market fell flat into month end on Tuesday. Kansas City led the way with losses of 6 to 15 ¼ cents and in delivery May down 21. Chicago contracts were down 3 to 7 ¼ cents across the nearbys and up 1 ¼ to 3 ¼ cents in... .. read more..