Commodities News - Part 313

Copper rebounds after plunging on negative China PMI data

July 24, 2013 8:45 am

Copper fell during Asian and early European trading on Wednesday, followed by a rebound close to six-week highs as prices continued to draw support from Chinese governments intentions to boost economic growth and QE outlook. On the Comex division of the New York Mercantile Exchange, copper for September delivery traded at $3.210 a pound at […] Read more

Gold eases from 1-month high as higher prices spur sales

July 24, 2013 8:01 am

Gold touched a new 1-month high on Wednesday after which a decline followed as some market players decided to take advantage of the recent rally and sell. Silver and platinum gained, while palladium declined. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 342.55 an ounce […] Read more

Oil falls amid negative China data, losses remain limited on declining U.S. reserves, EIA in focus

July 24, 2013 6:56 am

Oil prices fell in the early European session as another batch of negative economic data from China spurred concern over demand prospects in the worlds second biggest consumer. However, losses were stemmed as the American Petroleum Institute reported on Tuesday U.S. crude, gasoline and distillate fuel stockpiles fell last week. EIAs report later today remained […] Read more

Natural gas rallies 2%

July 23, 2013 3:11 pm

Natural gas futures surged 2% during early U.S. trading following Mondays sell-off as investors returned to the market to seek cheap valuations. On the New York Mercantile Exchange, natural gas for August delivery traded at $3.741 per million British thermal units, up 1.73% on the day. Prices ranged between days high at $3.762 and low […] Read more

Soft futures mixed, sugar gains amid reduced supply prospects

July 23, 2013 1:23 pm

Soft futures were mixed on Tuesday with sugar, cotton and cocoa gaining, while robusta and arabica posted declines. On the ICE Futures U.S. Exchange, arabica coffee for September delivery traded at $1.2403 a pound at 13:15 GMT, down 0.82% on the day. The C contract settled 1.8% higher on Monday and extended last weeks 3.08% […] Read more

Copper falls, China economic outlook limits losses

July 23, 2013 11:56 am

Copper fell today after hitting a five-week high on Monday amid a broadly weaker dollar. However, the industrial metal was supported by speculation the Chinese government will step in and take action to boost economic growth. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at $3.174 a […] Read more

Grain futures mixed, corn extends losses on favorable weather conditions

July 23, 2013 9:59 am

Grain futures were mixed on Tuesday with soybeans marking a minor daily advance, while wheat and corn plunged. On the Chicago Board of Trade, corn futures for September delivery traded at $5.3438 at 9:45 GMT, down 1.04% on the day. Prices held in range between days high and low of $5.3925 and $5.3413 per bushel […] Read more

Gold eases off 1-month high on demand concern

July 23, 2013 8:35 am

Gold remained fairly steady but retreated from yesterdays one-month high as gaining prices threatened to curb demand. Meanwhile, India introduced further restrictions on gold imports. A weaker dollar supported the metal. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 330.25 an ounce at 8:33 GMT, […] Read more

WTI falls amid weak U.S. data, inventories report in sight

July 23, 2013 7:42 am

West Texas Intermediate fell on Tuesday, extending yesterdays steep drop as weak U.S. economic data fueled concern over stalling economic recovery and hurt demand prospects. Brent rose amid threats to supply from the Middle East and North Africa. Investors are looking ahead into APIs report on Tuesday and EIAs crude oil inventories statistics on Wednesday. […] Read more

Natural gas rebounds after biggest drop in three weeks

July 23, 2013 6:36 am

Natural gas gained on Tuesday and snapped a two-day losing cycle after posting the biggest intraday decline in three weeks on Monday amid forecasts for mild weather across the Midwest and Northeast U.S. On the New York Mercantile Exchange, natural gas for August delivery traded at $3.700 at 6:33 GMT, up 0.30% on the day. […] Read more