Fri, Apr 18, 2014
A A A
Welcome kbr175@gmail.com
RSS
Commodities Briefing 05.Oct 2012

Posted on 05 October 2012 by VRS |  Email |Print

A week after losing a major court battle in their bid to impose trading curbs on commodity speculators, U.S. regulators are gearing up to fend off another attack against their reforms.
On Friday, the Commodity Futures Trading Commission will face off in federal district court in Washington, D.C. against another pair of industry groups who sued earlier this year to block a rule that would require many investment funds to register with the agency………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Commodity traders are bidding adieu to the good old days. The industry is racing to diversify its sources of funding and shed non-core assets. It’s like Goldman Sachs’s decision to go public in 1999 – a change in the business model.
Louis Dreyfus is typical. The family-owned French commodity dealer tapped the public debt markets for the first time in its 160-year history last month, raising $350-million (U.S.) to help fund new acquisitions. On Oct. 4, Dreyfus sold its energy trading arm. It will use the proceeds to help with its $70-billion spending plan over the next five years, according to the Financial Times………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Metals and bulk commodities are returning to their longer-term pattern of “cyclicality” and “lower real prices”, analysts say, as the pace of China’s rapid industrialisation of recent years cools. After warning last August the iron ore price could drop to $US83 a tonne – which it almost hit in its recent slump – Morgan Stanley’s commodity team today revised lower their price forecasts, including sharp downgrades to iron ore and coal, Australia’s two largest exports.
It comes after Deutsche Bank this week made a raft of downgrades in their commodity review after the close of the third quarter, slashing their expectations for bulks 15 per cent over the next 18 months and 5 per cent to 10 per cent over the medium term………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Top oil-exporting nations Thursday sent conflicting signals to the oil market, with No. 1 exporter Saudi Arabia appearing to try to nudge prices lower while neighboring Iraq said it favors an oil price around the current level of $100 to $120 a barrel.
Both nations belong to the Organization of Petroleum Exporting Countries, which collectively produced more than a third of the oil consumed world-wide in the second quarter. But while key oil producers express differing views on where the oil price should be, major consumers are adamant that oil prices need to fall to avoid jeopardizing the global economy………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

The Minister of Petroleum and Mineral Resources, Ali Al-Naimi, stressed that Saudi Arabia and OPEC have made their contributions to ensure oil supplies in global markets and price control.
In a speech Wednesday at the opening ceremony of the 5th International Energy Conference here, Al-Naimi said: “My talk to you today is about three key areas: Economy, energy, and the close relationship growing between the Kingdom of Saudi Arabia and Turkey.”……………………………………….Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Analysts at a New York-based research firm believes that the Organisation of the Petroleum Exporting Countries’ (Opec’s) global oil reserve statements could be inflated by as much as 70%.
Global oil prices are expected to dramatically spike from the end of the decade as a result of depletion, and continue to dramatically rise into the future as a result of oil-producing countries being unable to replace reserves fast enough, research specialist Lux Research analysts told Mining Weekly Online on Thursday………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Gold traders are the most bullish in three weeks as investors’ bullion holdings expanded to a record after central banks pledged to do more to spur economic growth. Twenty of 32 analysts surveyed by Bloomberg expect prices to rise next week, nine were bearish and three were neutral. Investors are holding the most metal ever through gold-backed exchange-traded products after buying 85.4 metric tons last month, the most since July 2011.
Hedge funds’ bets on a rally are the biggest in seven months, U.S. Commodity Futures Trading Commission data show………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Gold rose to its highest price in 11 months on Thursday, with the market’s sights set firmly on $1,800 an ounce, as the inflation-hedge appeal of bullion was bolstered by signs the European Central Bank intends to keep borrowing costs low. Platinum group metals rallied as labor unrest in South Africa’s platinum mines showed little sign of abating, which could reduce output.
ECB President Mario Draghi said everything was in place for the bank to buy the bonds of troubled euro zone countries such as Spain and that conditions linked to such purchases need not be punitive. The ECB also kept its main refinancing rate steady at 0.75 percent, a record low, to stimulate economic growth……………………………………….Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Gold was up, up and away in September. But who was doing the buying? New data we released Wednesday here at BullionVault show that private households across Western Europe and the US continue to join the bull market. But their response to QE3 and the latest phase of the euro-zone crisis is more measured – you might even say complacent – than the recent price action alone suggests.
“There has until now been a lack of hard data on self-directed retail investors in gold,” said Marcus Grubb of the World Gold Council, which is a shareholder in BullionVault, at the launch here in London of our new Gold Investor Index………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

As a result of the recent barrage of aggressive central banking action, October gold futures are not only making new 2012 highs, but are also approaching a key technical level: While not a technical top, the $1,790-$1,800 region has acted as an area of strong resistance since November.
After bottoming around $1,530, gold moved in a sideways pattern in which a series of higher lows were made before the commodity broke out above $1,600 on QE3 speculation. Over the past three weeks, gold has been in another consolidation pattern between $1,760 and $1,780………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

The largest gold ETFs listed in the U.S. have attracted about $3 billion of inflows the past month, pushing the amount of bullion in metal-backed products to fresh highs. Investors are flooding into gold ETFs on fears the latest round of central bank easing will debase global currencies and stoke inflation.
The amount of gold held in bullion-backed exchange traded products stands at about 2,554 metric tons, a new record, according to Bloomberg………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Morgan Stanley’s talks with Qatar’s sovereign wealth fund over the sale of its commodities business have run into difficulty, and the deal may need to be reworked if it is to go ahead, banking sources said.
One of the top banks in commodity trading over the past 30 years, Morgan Stanley has been in discussion for more than a year with Qatar over the sale of at least a majority stake in the energy-focused trading business, the bankers said………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

The clearance of Forward Contracts Regulation Act (Amendment) Bill 2010 by the Union cabinet today is a boost for the much-needed policy reforms in the Indian commodity market, MCX MD and CEO Shreekant Javalgekar said in a statement here.
Javalgekar said the bill, once passed, will bring the Indian commodity trade on par with global practices. The amended FCRA will not only strengthen the Indian commodity market regulator, but also pave the way for introduction of new tools for hedging and price risk management, facilitate better price discovery, and create Indian benchmark prices for commodities which are widely produced or consumed in India, he added………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Higher trading limits in nine agricultural commodity markets remain in place despite a court ruling that knocked back regulators’ efforts to get tougher on speculation, futures exchanges said on Thursday.
The CME Group requested in April 2010 that so-called “legacy” position limits in markets including wheat and corn - which have been subject to speculative caps for decades - be increased to reflect the surge in trading volume and open interest as investors poured into the markets………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

Commodities climbed the most in two months as the euro rose against the dollar after the European Central Bank said it’s ready to buy bonds once necessary conditions are met. The Standard & Poor’s GSCI Spot Index of 24 raw materials increased 2.5 percent to 665.19, the biggest gain since Aug. 3. Oil futures in New York, which account for 30.25 percent of the GSCI index, rose 4.1 percent, the most since Aug. 3.
ECB President Mario Draghi said the bank is ready to start buying government bonds as soon as the conditions are fulfilled, putting the onus on Spain to decide whether it wants a bailout. ECB policy makers left the benchmark rate at a historic low of 0.75 percent………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

The eurozone crisis can be eased by bringing back the national currencies of troubled economies to run alongside the euro. The eurozone has worked itself into a corner from which it does not know how to get out. At stake is not only the economic wellbeing of Europe, but also its political stability.
On the one hand, most Europeans agree that a breakdown of the eurozone is to be avoided at all costs. On the other hand they recognise that the monetary union cannot survive much longer in its present form. Measures that translate into the likes of Germany having to pick up the bills, or the likes of Greece having to suffer harsh austerity measures in order to repay foreigners won’t be viable for long………………………………………..Full Article: Source

Posted on 05 October 2012 by VRS |  Email |Print

European Union’s draft plan to curb a glut of carbon permits may endanger the predictability of the bloc’s trading rules and Spain hasn’t decided whether to back the proposal, Environment Minister Federico Ramos de Armas said.
“What we’re asking for are clear rules for our companies that are not changing in an unexpected way,” he told reporters in Warsaw. “We’re studying the proposal, we don’t know the exact terms yet and we don’t know what our decision will be.”……………………………………….Full Article: Source

See more articles in the archive

banner
banner
April 2014
S M T W T F S
« Mar    
 12345
6789101112
13141516171819
20212223242526
27282930