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Commodities Briefing 18.Mar 2011

Posted on 18 March 2011 by VRS |  Email |Print

Commodity prices will “pause for breath” this year and next as producers boost output amid higher prices, while gold, silver and coal are set to decline, Royal Bank of Scotland Group Plc said.
The Standard & Poor’s GSCI Total Return Index of 24 commodities this month reached the highest level since November 2008 as tension in the Middle East and North Africa boosted crude oil above $100 a barrel and pushed gold prices to a record……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Commodities markets pushed higher Thursday as traders grew more confident in Japan’s ability to recover from the earthquake and tsunami that ravaged the country.Oil futures rose above $100 a barrel after slumping along with global equities markets earlier this week, and were recently trading up $2.39, or 2.5%, to $100.37 a barrel on the New York Mercantile Exchange.
Copper, a key metal used for construction and other industrial sectors, rose 3.7%. Agricultural commodities surged higher on improving export data and a weaker U.S. dollar……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Sudeshna Andre, a product specialist with Amundi Asset Management, comments on the impact of last week’s earthquake and tsunami in Japan on commodity prices.
Amundi is a joint venture between France’s Credit Agricole SA and Societe Generale SA, with $950 billion under management……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Commodity prices are expected to remain high supported by supply constraints, continuous strong demand as well as Japan’s massive reconstruction after last week’s earthquake and tsunami. “The market is in a panic mode and the situation may continue in the short term.
“However, over the medium-term, Japan, after this terrible disaster, will need massive reconstruction and that will support demand for commodities for building, all kinds of commodities and specifically energy,” Amudi Asset Management product specialist, global resources, Sudeshna Andre said……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Agricultural commodity prices staged a dramatic rebound, sending US corn, cotton and pork up the maximum allowed by exchanges, spurred by signs of a resolution to Japan’s nuclear crisis and strong export data.
Wheat surged more than 8% in Chicago and Paris, while soybeans and New York sugar added 4%, as the run of bearish sentiment which brought crops to multi-month lows reversed……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

China accounts for almost half the global market for metals like steel and copper, whose mining drives the world economy. What happens when China slows down?
Today, the world is dancing to a new song with a potentially devastating ending, says Vikram Mansharamani, an equity investor, Yale lecturer, and author of the book Boombustology. That song is called “Commodities.”………………………………………Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Rising commodity prices and strong economy created more billionaires in Brazil, Russia, India and China in 2011, according to Forbes. These emerging economies produced world’s 214 new billionaires, double last year’s 97 news comers.
It was commodities boom that led to more billionaire s in Russia, Brazil while in India and China, strong economies helped create more billionaires……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Commodity markets really trembled on the tsunami impact with rubber prices the most affected, ofcourse, others like crude oil, soybean also followed suit. A natural catastrophe in one region cannot bring down the entire commodities complex down for the precise reason that overall fundamentals do not change all of a sudden.
And markets get adjusted to the new information: if Japanese refineries are shut it means that refineries in the neighbouring countries buy up more crude oil to refine as it will be bought by Japan, so market evens out after a gap……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

A couple of days a week, the Desktop is given over to market indicators, and Wednesdays belong to oil. Midweek, we highlight the key fundamental and technical indicators underlying crude oil and its essential refined products. The Wednesday oil roundup coincides with the U.S. Energy Department’s weekly release of national petroleum inventory data.
Given the interest shown in the Wednesday Desktop, we figure it’s time for a more thorough oil market backgrounder……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Crude oil prices have recovered from their Japan-related losses after surging on Thursday above $115 a barrel amid fears of an escalation of the conflict in Libya.
As the United Nations Security Council was nearing agreement to impose a no-fly zone on Libya, Tripoli said it would attack military and civilian targets in the Mediterranean in retaliation to any foreign strike……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

OPEC could meet to assess the crude demand and supply situation after the crisis in Japan, Nigeria’s foreign minister said on Wednesday, though the group’s Gulf members have said there was no need to meet before June.
Brent crude rose towards $110 on Wednesday, off a three-week low a day before when prices slumped 4.5 per cent, the biggest drop in more than a year, as Japan’s nuclear crisis slashed confidence across markets……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Generating energy from wind turbines at sea would be cheaper than building new atomic power plants, Europe’s climate chief has said, in the latest challenge to the crisis-stricken nuclear industry.
Connie Hedegaard, the EU climate change commissioner, said: “Some people tend to believe that nuclear is very, very cheap, but offshore wind is cheaper than nuclear. People should believe that this is very, very cheap.”………………………………………Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Reuters Jeffries CRB commodity price index hit afresh low level on Wednesday, tumbling nearly 1% to close at 635.19 as compared to 636.18 on Tuesday. The commodity market remained somewhat mixed, as markets continued to gyrate between various pieces of news.
Anxiety about Japan’s nuclear disaster at the Fukushima Daiichi plant and ongoing concerns about Bahrain, Libya and other countries in the Middle East and North Africa combined with Euro Zone peripheral bond tensions and mixed US economic data continued to have their differing impact on various commodity asset classes……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

It’s long been referred to as a “poor man’s gold”, but with prices striking record highs and continuing to outperform its more lustrous peer, could silver be about to give it a run for its money?
Silver proved the pick of the precious metals bunch last year, with prices rising by 80% - over twice the rise of gold and four times the rise of platinum……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Investing in cash ISAs to beat the taxman is a false economy and investors should put their money where it can earn a better return, it is claimed.
According to the UK’s leading gold investment service the ‘Best Buy’ label should only be used for products beating the rate of inflation and investors should consider gold bullion ownership as an alternative way to save……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Two weeks ago, my weekly ETF Pullback strategy was all-energy. Last week, it remained energy heavy but not quite as pure. Now, it’s pretty much across the board in terms of commodities with energy taking a minor role as precious metals and grains take center stage.
Here’s this week’s list:………………………………………Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Lingering differences between Nasdaq OMX Inc. and potential partner IntercontinentalExchange Inc. are among the issues delaying a move toward a counterbid for NYSE Euronext, people familiar with the matter said.
Financing for Nasdaq’s bid is also facing hurdles, as banks tighten terms because of uncertainty in global financial markets, these people said……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

The Group of Seven major economies agreed Friday on joint intervention to stabilise currencies following a huge earthquake in Japan, Tokyo said.
“The Bank of Japan strongly expects that Japan’s concerted action with G7 member countries in the foreign exchange market will contribute to the stable formation of foreign exchange rates,” Japan’s central bank said in a statement……………………………………….Full Article: Source

Posted on 18 March 2011 by VRS |  Email |Print

Markets that trade carbon pollution permits are meant to cut emissions. So why did the carbon dioxide vented in 2010 under Europe’s scheme go up? An update on the European Union’s Emissions Trading Scheme and just how loose the cap on emissions is now, following the economic crash …
The latest analysis from Bloomberg New Energy Finance shows that last year, carbon emissions from the energy, steel, concrete and manufacturing facilities in the ETS rose by an estimated 1.8%. Yes, rose, not fell……………………………………….Full Article: Source

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