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Commodities Briefing 12.Mar 2012

Posted on 12 March 2012 by VRS |  Email |Print

Mihir WorahHedge funds reduced bets on higher commodity prices for the first time in seven weeks after China cut its growth target, just as prices rallied on signs the U.S. economy is improving and Greece is containing its debt crisis.
Money managers reduced combined bullish positions across 18 U.S. futures and options by 1.1 percent to 1.17 million contracts in the week ended March 6, Commodity Futures Trading Commission data show. Investors cut bets on copper by the most in two months and those on oil by the most since December. China uses more copper and energy than any other nation………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Ole S. HansenIn a week where the dollar continued to recover and geopolitical tensions eased a bit and Greece finally got its second bailout package, commodities traded generally lower.
The Dow Jones-UBS indices headed for its second weekly loss returning -2.5 percent on the week with losses seen across all sectors, however with some individual gains seen in soft commodities primarily, according to a report prepared by Ole S. Hansen, head of Commodity Strategy, at Saxo Bank………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Better-off families face biggest drop in income, and the squeeze is set to continue with rising fuel and commodity prices. UK consumers face another year of falling disposable incomes as higher fuel and commodity prices push up inflation.
The Centre for Economics and Business Research warned on Monday that family incomes face a further squeeze, with the better-off facing the biggest drop in income, in percentage terms………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

China’s soft landing could have a bruising impact on Australia, bringing a much sharper fall in bulk commodity prices than anyone is expecting.
The Reserve Bank had predicted that improved world growth would put a floor under coal and iron ore prices and last month wrote back some of the fall in the terms of trade that it had anticipated during the depths of global gloom in November………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Europe’s debt crisis and an oil price rally are the biggest threats to global oil demand this year, OPEC said on Friday, adding it was still pumping above its target despite a slide in Iranian production.
The Organization of the Petroleum Exporting Countries (OPEC)retained its view that world oil demand will grow by 900,000 barrels per day (bpd) this year, unchanged from last month, but warned the weak pace of growth in developed economies could crimp global appetite for oil………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Oil consumption in Saudi Arabia is the highest in the world, despite the fact that the economy is not heavily industrialized. According to International Energy Agency (IEA), Saudi Arabia consumes about three million barrels a day or about one billion barrels each year.
If you divide that total by a population of 27 million people, oil consumption would amount to about (40) barrels per person each year, the highest per capita in the world………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Reporting a drop in earnings at its agricultural products division, a relatively small part of its business, the commodity trading giant noted it was seeing a “negative biodiesel production margin environment in Europe.”
In response, the company said it last year cut its biodiesel production volumes by 32pc against 2011 and mothballed its Schwarzheide plant in Germany. “The outlook in Europe remains challenging,” was the less than cheery conclusion………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

China’s demand for base metals is being blunted by slower economic activity, the latest production data showed on Friday, but expectations of policy easing in coming months had led steel mills to ramp up production.
Copper output in both January and February slumped to the lowest since the first quarter of 2011, with February output at 437,000 tons, up slightly from 433,000 tonnes in January, data from the National Bureau of Statistics showed………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

A critical or strategic material is a commodity whose lack of availability during a national emergency would seriously affect the economic, industrial, and defensive capability of a country.
The French Bureau de Recherches Géologiques et Minières rates high tech metals as critical, or not, based on three criteria: Possibility (or not) of substitution, Irreplaceable functionality and Potential supply risks……………………………………….Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

One of the typical questions that individuals ask is who should be investing in gold. There are a lot of people who would like to place their money in this asset, but the issue is that no one knows how much cash should be invested and in what form. There are various types of Gold and you can purchase this asset as an investment.
You can purchase it in the physical form. This is simply because of the fact that the physical gold is generally bought and sold. The only problem with this kind of investment is that you might have to check the purity of the asset each time. Also, there could be some loss of the yellow metal if you are not cautious………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Higher prices are seen for gold next week by a very slim majority of survey participants in the weekly Kitco News Gold Survey.
In to the Kitco News Gold Survey, out of 32 participants, 21 responded this week. Of those 21 participants, 11 see prices up, while six see prices down, and four are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

The Silver Institute says, “Sturdy investment demand has pushed the silver price up 20% in the first ten weeks of 2012, outperforming platinum, palladium and gold during the period.”
In a news release issued Thursday, the institute said silver-based ETFs now account for 586 million ounces of silver, up from 576 million ounces at the end of 2011. “Demand for physical silver bars is also strong. According to several precious metals dealers, silver bar sales continue to be brisk,” said the institute………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Silver prices have been boosted by investment and industrial demand this year, the Silver Institute has reported. They say that this is contributing to a “strong silver price over the course of this year”.
Sturdy investment demand has pushed the silver price up 20% in the first ten weeks of 2012, outperforming platinum, palladium and gold during the period………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Gold traders are the most bullish in four months after investors accumulated more metal than ever and hedge funds raised bets on gains to a five-month high. Sixteen of 23 analysts surveyed by Bloomberg expect prices to gain next week and one was neutral , the highest proportion since November 11.
Investors increased their holdings in exchange-traded products (ETP) backed by bullion for seven consecutive weeks and now hold 2,407 metric tonne valued at $131 billion, data compiled by Bloomberg show……………………………………….Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

ETF Securities launched fourteen new exchange-traded commodities (ETCs, which are also more commonly known as ETFs) on the London Stock Exchange. The newly launched investment vehicles offer sterling-hedged exposure to a various commodity benchmarks as measured by Dow Jones-UBS indices.
ETF Securities announced that all fourteen ETCs would be sterling-hedged on a daily basis in order to reflect as closely as possible the performance of the underlying commodities in terms of US dollars………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Let’s quickly cover something for those new to futures: In case you weren’t certain, “futures trading” and “commodities trading” are basically the same thing. Futures contracts cover the broad range of commodity markets energy, metals, agriculturals, softs, livestock though they also cover financial markets as well (indices, currencies, interest rates, single stock futures).
A futures contract is simply an agreement to buy or sell at a price set today, for a future delivery date of the commodity in question………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Rio Tinto is putting little credence in China’s proclamations that annual economic growth will slow to 7.5 per cent this year. The Anglo-Australian miner, which has Chinese aluminium giant Chinalco as its biggest shareholder, says it still expects Chinese growth to be higher than 8 per cent.
The comments, made by Rio’s head of business support and operations Bret Clayton at a conference in London on Thursday, indicate China’s easing of its annual growth target for the first time in a decade has not affected Rio’s publicly buoyant view on the world’s biggest commodities buyer………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Currency trading may have risen to a record $5 trillion a day in September, surpassing the peak reached before Lehman Brothers (LEHMQ) Holdings Inc.’s collapse in 2008, according to the Bank for International Settlements.
Trading then declined to about $4.7 billion a day in October and is likely to have fallen considerably in early 2012, the Basel, Switzerland-based bank said in a report………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Global wheat production is estimated to be around 690 million tons in 2012, second highest ever, according to United Nations Food and Agriculture Organisation (FAO).
On the back of favourable conditions, production in India and Pakistan touches record levels in2011-12. India is expected to produce around 88.3 million tons and in Pakistan, it is estimated to be around 24.4 million tons. China is the worlds largest wheat producer and the production is expected to be around 115.5 million tons………………………………………..Full Article: Source

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