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Commodities Briefing - Category | Trading more

Malaysia seeks to attract Western commodity traders as new hub

Posted on 17 April 2014 by VRS  |  Email |Print

A number of Western commodity companies are setting up new trading desks in Malaysia as the southeast Asian country introduces incentives in a bid to attract business away from the main regional trading hub Singapore.
Commodity houses Mercuria and Cargill have already set small desks in Kuala Lumpur, two sources said, and others are also studying the possibility………………………………………..Full Article: Source

FMC mulls centre-specific commodity forward trades

Posted on 17 April 2014 by VRS  |  Email |Print

The Forward Markets Commission (FMC) is considering permitting bourses to offer centre-specific, short-term forward trades in highly traded farm products as the regulator aims to increase delivery in the Rs 101- lakh crore commodity futures market, which is dominated by speculation and hedging.
Termed a “game changer” by Ramesh Abhishek, chairman, FMC, these contracts will allow traders to buy commodities like chana, rapeseed mustard, castorseed, etc, on commodity exchanges,where currently they can’t do so. This, Abhishek feels, could increase delivery by physical market traders on the six national bourses, which posted volumes ofRs 101-lakh crore in the fiscal year through March………………………………………..Full Article: Source

Banks tussle to join next generation of commodity dealers

Posted on 16 April 2014 by VRS  |  Email |Print

Facing low volatility, a lack of trading opportunities and compliance headaches, major global investment banks are pulling back from commodities. But at the same time, a number of smaller and regional players are actively seeking to increase their involvement.
A sinking feeling has pervaded Wall Street recently. During the past few years, commodity revenues have been falling at major global investment banks. Industry titans such as Deutsche Bank, JP Morgan and Morgan Stanley have decided to quit large parts of the commodities market, or leave it altogether………………………………………..Full Article: Source

Iran’s oil exports continue to surge despite sanctions cap: IEA report

Posted on 16 April 2014 by VRS  |  Email |Print

Irans global crude oil exports have far-exceeded the one-million barrel-per-day cap set by the West. The Israeli paper referred to a recent IEA report as saying that Irans global oil exports in February made the highest record since June 2012.
The IEA’s monthly report revised February’s global crude imports from Iran upwards by 240,000 barrels per day to 1.65 million barrels per day, the highest since June 2012………………………………………..Full Article: Source

EU promises ’strictest’ curbs on high-frequency trading

Posted on 15 April 2014 by VRS  |  Email |Print

Michel Barnier says new rules will stop market abuse through high-speed trading. The EU’s financial chief has promised some of the toughest curbs on controversial use of high-frequency trading highlighted by author Michael Lewis in Flash Boys.
The restrictions are part of EU market reforms that will be voted on by the European Parliament on Tuesday. Michel Barnier, the EU financial services commissioner, said on Monday: “With these rules the EU is putting in place one of the strictest set of regulations for high-frequency trading (HFT) in the world………………………………………..Full Article: Source

Global commodity traders get deal fever

Posted on 14 April 2014 by VRS  |  Email |Print

Big changes are under way among global energy and food commodity traders, with a flurry of first-quarter acquisitions and leadership moves that cover Asian, European and North American companies.
Last month, Swiss firm Mercuria Energy stepped closer to joining Vitol, GlencoreXstrata and Trafigura at the top of the independent energy and metals trading hierarchy, following its $US3.5 billion purchase of US investment bank JP Morgan’s physical commodity operation………………………………………..Full Article: Source

India: Commodity trading hours set to get a ‘break’

Posted on 14 April 2014 by VRS  |  Email |Print

Commodity derivative trading hours, on platforms such as MCX and NCDEX, may soon go in for a break. “We are planning to allow an hour or half-an-hour break for commodity trading as the trading hours are long,” Ramesh Abhishek, Chairman, Forward Markets Commission (FMC), told Business Line. FMC regulates futures trading in commodities.
Currently, commodity trading on various exchanges can be done between 10 a.m. and 11.30 p.m. However, for stock spot and futures trading, the timing is 9.15 a.m. to 3.30 p.m. with 15 minutes extra time before the start of trade for the pre-trading session………………………………………..Full Article: Source

China March commodity imports resilient despite slowing economy

Posted on 11 April 2014 by VRS  |  Email |Print

China’s imports of iron ore and copper soared in March from the previous month in anticipation of higher seasonal demand in the world’s top metals consumer, though crude oil shipments dropped after three months of high inbound volumes.
The double-digit monthly gains in iron ore and copper shipments came even as China posted weak trade data, raising doubts whether the high commodity import levels are sustainable and reinforcing forecasts that the world’s second-largest economy has slowed notably at the start of 2014………………………………………..Full Article: Source

Non-ferrous metal trade could suffer from US, EU sanctions on Russia

Posted on 11 April 2014 by VRS  |  Email |Print

The effects of any US and European Union (EU) sanctions on the non-ferrous metals trade with Russia could be significant, based on the volumes of metals traded.
The EU and the US agreed to work on the imposition of sanctions against Russia on Wednesday March 26. A four-party meeting involving the EU, US, Ukraine and Russia is to be staged next week to discuss the crisis………………………………………..Full Article: Source

IMF advises Ghana to diversify export commodities

Posted on 11 April 2014 by VRS  |  Email |Print

Division Chief of Research at the International Monetary Fund (IMF), Thomas Helbling, has asked managers of Ghana’s economy to diversify the country’s exports to minimize shocks that come with declining prices of gold and cocoa.
Ghana has lost about $1.5 billion over the last few years because of declining prices of gold and cocoa on the international market. According to the Bank of Ghana, earnings from gold exports dropped to $5 billion from 5.6 billion dollars for last year, while cocoa also declined to $1.6 billion from $2.2 billion in 2012………………………………………..Full Article: Source

Energy firms to Fed: Hands off banks’ commodity trading

Posted on 10 April 2014 by VRS  |  Email |Print

Energy companies are mounting a last-ditch effort to prevent the Federal Reserve from cracking down on physical commodity trading by major Wall Street banks, saying more restriction may further damage liquidity and raise hedging costs.
In a handful of early submissions on potential new rules, industry groups and big corporations like UPS and refiner Alon USA Energy Inc urged the Fed not to push banks out of physical markets. They warned that the unregulated commodity trading houses who are now expanding in the space may pose credit and counterparty risks that financial firms do not………………………………………..Full Article: Source

Precious metals trade: Dubai widens its role

Posted on 09 April 2014 by VRS  |  Email |Print

Dubai’s gold trade volumes should continue to grow so long as the emerging middle classes in Asia continue to grow and prosper, forecasts John Hathaway, US-based analyst and portfolio manager for Tocqueville Asset Management.
“Dubai is a distribution point to all parts of Asia and that level of flow is dependent on the prosperity of the emerging middle classes in various Asian economies. So, as long as that continues I can’t see anything stopping that flow,” added Hathaway………………………………………..Full Article: Source

India: Commodities futures trade volumes fall for second year

Posted on 09 April 2014 by VRS  |  Email |Print

Commodity futures trading volumes in India fell 40.49 percent in the year to March 2014, its second straight year of decline, the market regulator said on Tuesday.
In value terms, futures trading at commodity exchanges fell to 101.44 trillion rupees in the first twelve months from April 2013 from 170.46 trillion rupees a year ago, the Forward Markets Commission said in a statement on its website………………………………………..Full Article: Source

Iran ‘won’t wait for America’s permission’ to hike oil exports: minister

Posted on 08 April 2014 by VRS  |  Email |Print

Iran will continue its efforts to boost crude production and exports regardless of Washington’s opposition to increased international sales of Iranian oil, oil minister Bijan Zanganeh said Monday.
“Iran will use every possibility to increase the amount of oil exports and will not wait for America’s permission,” Zanganeh was quoted as saying by oil ministry news service Shana. “The sanctions do not ban Iran from increasing oil production and we have a big plan for increasing Iran’s oil production.”……………………………………….Full Article: Source

India’s gold imports rise in March

Posted on 08 April 2014 by VRS  |  Email |Print

Offering a space of breath to the Indian jewelers, the latest report revealed that the gold import in India surged nearly 50 tones in March, amid the RBI’s import restrictions. Since the RBI’s infliction of Gold import norms last year, gold import in the country was found to fade by volume, thereby creating drastic supply crunch for jewelries across the country.
The gold imported through illegal means have also increased due to the tightening of rules and enforcement of 10 % import duty because of which gold smugglers started experimenting on bizarre methods to sneak gold to India………………………………………..Full Article: Source

Dubai leading global hub for bullion trade with $75bln in 2013

Posted on 08 April 2014 by VRS  |  Email |Print

Dubai’s position as leading global bullion centre confirmed with almost 40% share of global gold trade volumes; a trade volume increase of 73% in comparison with 2012. Ahmed Bin Sulayem, Executive Chairman, DMCC, said: Dubai has quickly emerged as the leading global hub for the precious metals trade.
As a result of DMCC’s continuous efforts to realise the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, the Emirate has risen as the destination for global precious metals trading. In 2013 almost 40 per cent of the world’s physical gold trade came through Dubai and the value of total gold traded through Dubai grew to US $75 billion, compared to US $6 billion in 2003………………………………………..Full Article: Source

Traders turn optimistic on commodities

Posted on 04 April 2014 by VRS  |  Email |Print

Commodity trading executives tend to speak bluntly. This week has been no exception. The oil sector is “stuck in a rut”, metal producers must get their “shops in order” and the agriculture industry is “on a knife edge”.
Those are some of the messages at the FT Commodities Global Summit in Lausanne. That may not sound especially positive, at least for trading houses, which can thrive on volatility. But, after a tough 2013, when prices of major commodities fell amid concerns about global financial health, the mood among delegates about the world economy was cautiously optimistic………………………………Full Article: Source

US futures regulator to examine high-frequency traders

Posted on 04 April 2014 by VRS  |  Email |Print

The U.S. Commodity Futures Trading Commission is investigating high-frequency traders to see if they were breaching the derivatives regulator’s rules, its chief said Thursday.
“Staff (is) responding to concerns brought to us about certain practices, whether it be spoofing just to give one example, whether that’s running afoul of our rule,” Acting Chairman Mark Wetjen told reporters during a meeting. “And then whether or not it meets the definition of manipulative activity under our statute,” he said………………………………Full Article: Source

Gold premiums seen falling further on any ease in trade curbs

Posted on 04 April 2014 by VRS  |  Email |Print

Gold premiums in India are expected to fall from current levels of about $30 an ounce after the Reserve Bank of India (RBI) indicated it is considering removing some of the curbs to trade that have crippled imports.
India, the second biggest consumer of gold after China, last year imposed a record 10 percent import duty on the metal and said a fifth of all shipments should be re-exported as finished product to help narrow its current account deficit (CAD)………………………………Full Article: Source

Japan traders seen returning $3 bln on commodities fall

Posted on 02 April 2014 by VRS  |  Email |Print

The commodities boom is over and you can have some money back. For investors in Japan’s biggest trading houses, Mitsubishi Corp. and Mitsui & Co., the payoff in dividends and stock buybacks could be as much as 300 billion yen ($3 billion) in the financial year beginning today, according to analysts who follow them.
As the China-led, decade-long rally in commodity prices fades, the traders have been left with excess cash and the need to boost their attractiveness to investors………………………….Full Article: Source

Commodity traders: Is there still value?

Posted on 28 March 2014 by VRS  |  Email |Print

During boom times when commodity prices were high compared to mining costs, producers had no qualms about giving up some margin for the use of third party traders to act as middle men in brokering the deals between producer and end-user.
Since the 2008 global financial crisis, companies having become more discerning over their cost base, questioned the necessity of the trader. This question has become more imperative as falling grades, increased labour, transport and utility costs and deeper mines threaten producers’ margins. The trend among producers is to go direct………………………………Full Article: Source

OPEC to cut exports on lower Asian demand, Oil Movements says

Posted on 28 March 2014 by VRS  |  Email |Print

The Organization of Petroleum Exporting Countries will curtail exports through mid-April in response to lower seasonal demand from refiners in Asia, according to tanker-tracker Oil Movements.
OPEC, responsible for 40 percent of global oil supplies, will reduce shipments by 620,000 barrels a day, or 2.5 percent, to 23.78 million a day in the four weeks to April 12, the researcher said in an e-mailed note. The figures exclude two of OPEC’s 12 members, Angola and Ecuador………………………………Full Article: Source

Will the stagnant demand in commodities encourage hedging

Posted on 27 March 2014 by VRS  |  Email |Print

The commodity market, which had defied gravity during the last few years, is showing signs of slowing down. It is not a breather but a shift to a bear cycle. No doubt the “investors” have vanished and the herd mentality has gone out.
The standard explanation during the period of price surge was that the booming demand, particularly from China, was clashing with stagnant supply of energy, metals and agricultural produce. Talks of stagnant or falling demand are now in the favour…………………………………Full Article: Source

Spain’s oil deposits and fracking sites trigger energy gold rush

Posted on 27 March 2014 by VRS  |  Email |Print

Spain is already the world’s largest olive oil producer but now it’s looking to a very different kind of oil to pull it out of economic decline: petroleum. The discovery of two significant offshore deposits, and prospects for fracking in many areas, have triggered a black-gold rush, with demand for exploration permits up 35% since 2012.
A report published this week by Deloitte says the oil industry could create 250,000 jobs and constitute 4.3% of GDP by 2065. The report is based on an estimate of 2bn barrels of oil and 2.5bn cubic metres of gas…………………………………Full Article: Source

Are US weekly oil imports from OPEC nations finding support?

Posted on 27 March 2014 by VRS  |  Email |Print

Higher-grade crude yields larger volumes of premium products such as gasoline, but it doesn’t yield as many lower-value products due to chemical differences. In the past, refiners spent millions of dollars on equipment that would allow them to produce larger amounts of premium products from heavier and sourer crude.
As the economics maybe isn’t there to change existing capacity to accommodate lighter and sweeter crude, demand for crude from Kuwait, Colombia, Venezuela, and Saudi Arabia remains strong…………………………………Full Article: Source

U.S. shale oil could withstand big price correction: analyst

Posted on 26 March 2014 by VRS  |  Email |Print

U.S. oil production from shale formations such as the Bakken in North Dakota and Eagle Ford in Texas would remain economically viable even if world crude prices drop by as much as 30 per cent from today’s levels, a U.S. analyst says.
The industry that has revolutionized North American energy supply faces numerous risks, including the potential for weak markets, transport constraints and the inability of technology to keep up with demand, though none currently looks like it could force a halt in drilling for the light, tight oil, said Skip York, analyst at Wood Mackenzie, the international energy consultancy……………………………….Full Article: Source

Korea Exchange seeks cut of $3 bln illegal gold trade

Posted on 24 March 2014 by VRS  |  Email |Print

South Korea’s equity exchange will start offering physical gold trades for the first time today, as the government seeks to curb as much as $3 billion of black-market transactions.
Korea Exchange Inc., which has offered bullion futures since 1999, aims to gradually replace illegal sales that total as much as 70 metric tons annually and deprive the state of an estimated $280 million in taxes. Customs officers intercepted 360 kilograms last year as the number of busts more than doubled from 2012………………………………………..Full Article: Source

Carlyle’s commodity arm starts trading new gold and base metals fund

Posted on 21 March 2014 by VRS  |  Email |Print

Vermillion, the commodity arm of U.S. private equity group Carlyle Group LP, started trading a new gold and base metals fund this month as it seeks to rebuild market presence after losing more than half of its capital, people familiar with the matter said on Thursday.
In a regulatory filing dated Feb. 14, Vermillion’s chief operating officer, Christopher Zuech, said the Aeris Metals Fund had raised $122.5 million from 23 investors in total. The filing did not state the launch date………………………………………..Full Article: Source

Iran oil exports show steady increase as Asia buys more

Posted on 19 March 2014 by VRS  |  Email |Print

Iran exported more crude than allowed under Western sanctions for at least a fourth straight month in February, as ship loading data obtained by Reuters showed top clients again bought more than 1 million barrels per day (bpd) of Tehran’s oil.
The rise in sales to Iran’s main clients, mostly in Asia and including Turkey, comes after an agreement that eased some of the sanctions aimed at the OPEC member’s nuclear program. The November deal also freed up 4.2 billion US dollars in oil payments to Tehran, but it does not allow for shipments to increase………………………………………..Full Article: Source

OPEC to cut exports as refinery demand slows

Posted on 19 March 2014 by VRS  |  Email |Print

The Organisation of Petroleum Exporting Countries (OPEC) will cut crude exports this month to the lowest level since November as refinery demand slows in Europe and North America, according to tanker-tracker Oil Movements.
OPEC, responsible for 40 percent of global oil supplies, will decrease shipments by 1.1 million barrels per day (bpd), or 4.6 percent, to 23.6 million bpd in the four weeks to March 29, according to Oil Movements, reported Bloomberg………………………………………..Full Article: Source

Nickel moves over $16,000/mt on Indonesia raw material export ban

Posted on 19 March 2014 by VRS  |  Email |Print

Three-months nickel on LMEselect Tuesday breached $16,000/mt for the first time since April 2013 on the back of Indonesia’s decision to ban the export of raw materials, including nickel ore. The increase in nickel prices has seen the metal shift from the worst performing metal on the London Metal Exchange in 2013, to the best performing metal so far in 2014.
Three-months nickel on LMEselect has risen by around 22% this year, from a low of $13,334/mt in January to a year high of $16,230/mt in March. David Wilson, director of metals research and strategy at Citi Research, said technical issues are supporting nickel prices from a heightened interest in the metal due to the Indonesian ban on nickel ore exports………………………………………..Full Article: Source

Canada setting stage for oil exports beyond U.S.

Posted on 18 March 2014 by VRS  |  Email |Print

Canadian Natural Resources Minister Joe Oliver said his country is on the verge of becoming an energy superpower. While the United States mulls its options for energy hegemony, a recent free-trade deal with South Korea and pipeline developments suggest Canada may beat it to the punch.
The International Energy Agency said that, despite recent volatility, Asian economies are contributing to the bulk of macroeconomic growth. That, in turn, means global oil demand is expected to grow by 1.4 million barrels per day this year………………………………………..Full Article: Source

Will oil producers run into losses without crude exports?

Posted on 17 March 2014 by VRS  |  Email |Print

The chief operating officer at Continental Resources said that oil producers would be forced to cut back on production if the United States doesn’t allow for crude oil exports.
Is a problem of plenty brewing? Rick Bott — president and COO of Continental — said that crude oil prices will remain artificially depressed because domestically produced crude isn’t finding its way into the global markets. And this eventually lowers the incentive to keep up with production volumes. As evidence, he points out to the fact that the crude oil markets are heavily “backwardated.”……………………………………….Full Article: Source

Iraq’s oil output surges to highest level in over 30 years

Posted on 17 March 2014 by VRS  |  Email |Print

Iraq’s oil production surged to its highest level in over 30 years last month, surprising skeptics of the country’s efforts to restore its oil industry after decades of war and neglect, The Wall Street Journal said in news briefed by “Shafaq News”.
In its monthly oil report published Friday, the International Energy Agency said Iraq’s oil output jumped by half a million barrels a day in February to average 3.6 million barrels a day. The country hasn’t pumped that much oil since 1979, when Saddam Hussein rose to power………………………………………..Full Article: Source

China’s debt defaults to hit industrial metals as trading unravels

Posted on 17 March 2014 by VRS  |  Email |Print

All the warning signals are now pointing to a continuing slide in prices as the full extent of China’s economic problems emerges and bearish sentiment grips the large commodity trading houses.
Investors in vital industrial metals such as copper and iron ore will have their nerves tested again this week after China’s unfolding debt crisis caused volatility on commodity markets………………………………………..Full Article: Source

India: Right mix of speculation, hedging to deepen commodity exchanges: FMC

Posted on 17 March 2014 by VRS  |  Email |Print

Traders and physical market users who trade on domestic commodity futures exchanges may soon witness a deepening of the decade-old market.
To encourage more physical market users to hedge on domestic commodity bourses, regulator Forward Markets Commission (FMC) will soon write to the finance ministry, under which it functions, suggesting that it urge banks to ask their clients to trade on exchanges like MCX and NCDEX. ……………………………………….Full Article: Source

OPEC to cut exports as refinery demand slows, Oil Movements says

Posted on 14 March 2014 by VRS  |  Email |Print

The Organization of Petroleum Exporting Countries will cut crude exports this month to the lowest level since November as refinery demand slows in Europe and North America, according to tanker-tracker Oil Movements.
OPEC, responsible for 40 percent of global oil supplies, will decrease shipments by 1.1 million barrels a day, or 4.6 percent, to 23.6 million a day in the four weeks to March 29, Oil Movements said in an e-mailed note. The figures exclude two of OPEC’s 12 members, Angola and Ecuador………………………………………..Full Article: Source

Singapore, Dalian exchanges to collaborate on commodity trading

Posted on 13 March 2014 by VRS  |  Email |Print

The Singapore Exchange (SGX) and China’s Dalian Commodity Exchange have signed an agreement to collaborate on developing their commodities businesses, the Singapore bourse said on Monday.
The memorandum of understanding between the two exchanges will allow them to work together on developing commodity derivatives products and investor education, among other areas………………………………………..Full Article: Source

Currency traders mourn loss of volatility

Posted on 13 March 2014 by VRS  |  Email |Print

Political crises and central bank action have played havoc with emerging markets currencies since the start of the year. But for many investors in the foreign exchange market, the bigger problem has been the unnatural calm prevailing in major currency pairs.
Uncertainty over the pace of the US recovery, combined with the steady policy stance of the biggest central banks, has confounded fund managers and driven volatility in developed market currencies to lows barely seen since the “great moderation” that preceded the financial crisis………………………………………..Full Article: Source

Investment continues for Carbon Trade Exchange

Posted on 13 March 2014 by VRS  |  Email |Print

Carbon Trade Exchange (CTX) continues to expand both its team and operations in Australia and International markets, on Wednesday, announcing the appointment of Dan Jackson as Chief Technology Officer and Nicole Favretto as Marketing Manager, both effective immediately.
Dan has over 10 years’ experience with systems architecture, analysis and design in the IT industry, including significant experience in the development of software solutions for large-scale defence projects in both the intelligence and communications sector………………………………………..Full Article: Source

Chinese demand for gold, silver exploded in 2013 - FIA

Posted on 12 March 2014 by VRS  |  Email |Print

The biggest growth in trading activity of gold future contracts in the last five years has come from China, according to the latest information from the Futures Industry Association.
Monday evening the FIA released its annual report on global trends in the trading of futures and options; Gold futures on the Shanghai Futures Exchange saw the biggest increase volume in the last five years as 20.09 million contracts were traded in 2013, an increase of 416% from the 3.9 million contracts traded in 2008………………………………………..Full Article: Source

Could graphite be the ‘next big thing’ for commodity traders?

Posted on 12 March 2014 by VRS  |  Email |Print

Advances in automotive battery technology are making graphite the next big thing for commodity investors. Graphite is the critical material for the new generation of batteries, even more than lithium or rare earths.
Focus Graphite President and Chief Operating Officer Don Baxter explains the eyebrow-raising supply/demand picture of the graphite industry, the attractive financials of the Lac Knife project and the significance of the graphite industry’s first offtake agreement, including what it means to investors looking to understand an unfamiliar but well-positioned market………………………………………..Full Article: Source

Commodities trading jumped 23pct last year even as banks retreat

Posted on 11 March 2014 by VRS  |  Email |Print

Commodities derivatives trading jumped 23 percent last year, led by the U.S. and China, even as the biggest banks pulled back amid slumping revenues.
The increase in commodities trading, which accounted for 18 percent of volumes across all products, outpaced gains in interest rate and currency derivatives, the World Federation of Exchanges said in an e-mailed report today. Equity volumes fell 5.3 percent, it said………………………………………..Full Article: Source

Get all of your commodities in one basket

Posted on 11 March 2014 by VRS  |  Email |Print

Coffee is up 80 percent this year. Lean hogs are up 28 percent. Corn is up 13 percent. Gold is up 12 percent. Most of these same commodities were down last year, and any of them could fall at the drop of a hat. So how do rational investors participate in the upside for unpredictable commodities without losing their all-cotton shirts?
One approach is to invest in a diversified basket of commodities. That lowers the chance of a big loss and adds diversification to an investment portfolio, since commodities tend not to track the stock market. While there are 149 commodity ETFs, only a handful are broadly diversified. ……………………………………….Full Article: Source

China exports plunge, commodities worry

Posted on 11 March 2014 by VRS  |  Email |Print

Chinese exports plunged tanked by a shocking 18.1% leading to a 23 billion dollar trade deficit. The markets are trying to adjust to a shaky new Lunar New Year. Oh, sure, some blame the holiday but after getting one China company default it is possible that China is headed towards a very hard landing.
The reason why this is so shocking is just one month ago China trade expanded by 10.6%. We saw copper imports were soaring. Still China Copper Imports were up January through February was up 41.2% but in February fell 29%………………………………………..Full Article: Source

Commodities trade in Ukraine goes on

Posted on 10 March 2014 by VRS  |  Email |Print

Steel, grain and other commodity export deals are yet to be significantly affected by the growing crises in Ukraine which escalated on 6 March with a US restriction on visas for Russians and Ukrainians threatening Ukrainian sovereignty and the imposition of sanctions by the EU on 18 Ukrainians including ousted president Viktor Yanukovich, the former Prosecutor General, the Head of Security Service, Minister of Justice and some of their relatives or associates.
The presence of Russian troops in Crimea and in particular of Russian ships in the port of Sevastopol are a concern, particularly as Russia is now claiming sovereignty over Crimea and by extension, of all its ports………………………………………..Full Article: Source

OPEC to cut exports as Asian demand slows, Oil Movements says

Posted on 07 March 2014 by VRS  |  Email |Print

The Organization of Petroleum Exporting Countries will reduce crude exports this month as refiners in Asia prepare for seasonal maintenance, according to tanker-tracker Oil Movements.
OPEC, responsible for 40 percent of global oil supplies, will decrease shipments by 400,000 barrels a day, or 1.6 percent, to 24.2 million barrels in the four weeks to March 22, Oil Movements said in an e-mailed note. The figures exclude two of OPEC’s 12 members, Angola and Ecuador. Exports had climbed from January through early March on winter demand in the northern hemisphere and stockpile-building in China, according to the consultant………………………………………..Full Article: Source

FCA warns that Euro laws may curtail commodities

Posted on 07 March 2014 by VRS  |  Email |Print

Four incoming pieces of legislation from Brussels will increase regulation on investing in commodities and securities, replicating the movement of commodity prices, the FCA has warned.
In an eight-page document, Regulating the Commodity Markets: a Guide to the Role of the FCA, the City watchdog claimed that the European Markets Infrastructure Regulation (EMIR), MiFID II, the Market Abuse Regulation (MAR) and new benchmarks from the European Commission could create a stricter environment for trading and investing in commodities………………………………………..Full Article: Source

After buying up the world’s commodities, China gears up to trade more of them

Posted on 06 March 2014 by VRS  |  Email |Print

The Hong Kong Exchange is moving into commodity trading this year to cater to the changing needs of “China Inc.,” the bourse’s exuberant chief executive Charles Li told analysts and reporters in Hong Kong on March 4. “China’s commodity business needs to internationalize and we’ll be here,” he said, with “new products, new members and new partners,” including potential tie-ups with the mainland’s fast-growing commodity trading platforms.
His announcement is the latest sign that after investing heavily around the world to buy and mine the world’s raw materials, China’s next step is to plan an even bigger role in trading them………………………………………..Full Article: Source

Iraq returns as world’s fastest-growing oil exporter

Posted on 06 March 2014 by VRS  |  Email |Print

Iraq is reclaiming its rank as the world’s fastest-growing oil exporter, cushioning consumers from Libyan supply outages for now and, perhaps, reviving OPEC market share rivalries down the road.
Despite worsening violence due to spillover from the war in Syria, Iraq - already OPEC’s second-largest producer - is likely to post one of the biggest annual output jumps in its history as BP, Exxon Mobil and other companies tap its southern fields, which are untouched by the unrest………………………………………..Full Article: Source

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