Tue, May 11, 2021
A A A
Welcome vaishu
RSS
Commodities Briefing 20.Apr 2012

Posted on 20 April 2012 by VRS |  Email |Print

Dhiren SarinThe CRB, a global commodities benchmark broke 300 level on Wednesday; this fall according to Dhiren Sarin, chief technical strategist - Asia-Pacific, Barclays Capital is concerning and shows weakness in commodities.
The downside driver for the CRB index has been base metals, he said. “If you look at the likes of copper and platinum, it seems to have broken down quite sharply, which is causing some drag on commodity markets.” Given this, he expects commodities especially, base metals to underperform in the near-term………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

Jan du PlessisGlobal miner Rio Tinto said it was more upbeat about the outlook for commodities as demand from China remained robust and the U.S. was recovering.
“Overall, we are somewhat more confident than six months ago,” chairman Jan du Plessis told a shareholders meeting on Thursday. “The world continues to face considerable uncertainty and we believe this will contribute to ongoing volatility.”……………………………………….Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

Morgan Stanley’s commodities trading risk rose more than that of Wall Street’s two other leading banks in the first quarter, indicated by its latest results which also reflected higher revenues from the business.
After a lackluster finish to 2011 that saw its commodities franchise lag those of key rivals JPMorgan and Goldman Sachs, Morgan Stanley has done better with the trade through March with risk levels that were about 11 percent higher on the average from the previous quarter……………………………………….Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

Iran’s oil minister on Thursday raised the prospect of more cutoffs in oil sales to the European Union if the bloc failed to show some flexibility toward Iran ahead of a second round of nuclear talks next month.
Oil Minister Rostam Ghasemi said that while Iran has cut sales to Britain and France, it continues selling crude to “other countries” in the world. The remarks were likely to stir up confusion since they appeared to contradict earlier government statements that Tehran had also cut exports to Greece and Spain………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

Iran Thursday accused Saudi Arabia of breaching a collective OPEC agreement, reviving fears that the producer group’s fractious meeting last year could be repeated.
Iran’s Oil Ministry website Shana quoted Rostam Ghasemi as saying the Organization of Petroleum Exporting Countries “should produce up to 30 million barrels per day [as a group], but some countries including Saudi Arabia don’t observe these regulations.”……………………………………….Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

Those pesky oil speculators. If only we could rein them in by making it more expensive to bet on oil prices. If only regulators had the firepower to track down market manipulators and impose tougher penalties on those they caught.
The price of oil would surely drop, right? If only it were that easy. One thing about the oil market: It is not prone to simple solutions………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

The year 2011 proved to be another good year for gold, marking the 11th consecutive year of gold price increase. During 2011, the US dollar price of gold rose by 9% ending the year at US$1,531/oz based on the London PM fix.
Gold outperformed all major assets during 2011, which was a year of high uncertainty and increased volatility. The major factors which supported the gold price rise during 2011 were EU sovereign debt crisis, US debt crisis, increased bets by market participants on a third phase of quantitative easing (QE3) by the US Federal Reserve (the Fed) putting negative pressure on the dollar and equity markets………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

In the past year, SPDR Gold Shares has returned 9.2%, while the Market Vectors Gold ETF has dropped 23.4%. The former is the largest physically backed gold ETF in the world, and the latter is the largest gold miners ETF, according to MarketWatch.
The difference in performance has been duly noted by both analysts and investors, and any bullish projection on the miners would be considered intrepid………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

China has been trying to diversify her foreign exchange reserves for some time. We are all familiar with the figures released by the likes of the World Gold Council about Chinese gold investment demand, as well as statistics showing official gold imports through Hong Kong into the Chinese mainland.
Chinese reserves contain only 2% gold, compared to nearly 10% for India and Russia, and figures in the 70th percentile for developed nations such as the United States and Germany………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

During a presentation Thursday morning in New York City to introduce the latest edition of the Silver Institute’s World Silver Survey 2012, Philip Klapwijk, global head of metals analytics for Thomson Reuters GFMS, said the group’s short-term forecast is that silver will trade between $28.70 to $32.90 per ounce in the second quarter, broadly shadowing gold.
“Before the end of 2012 a more decisive break-out to the upside is probable,” he said, “although a repeat of 2011’s high is less likely, as investors will be more cautious following last year’s extreme volatility.”……………………………………….Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

Palladium has been the weakest-performing precious metal so far this year, weighed by concerns over China; however, the palladium market is expected to be in deficit this year given expectations for reduced state stock shipments, as well as relatively healthy global demand for palladium.
China’s palladium imports over the first two months of the year are down 27% y/y, its lowest since February 2009 – the decline has started off the year on a weaker note in comparison to the auto sector………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

Global commodity exchange traded funds now hold a record high $189 billion in assets as investors continued to pour money into gold and cyclical commodities. Over the first quarter of 2012, commodity ETFs added $7.5 billion in new inflows, the largest quarterly rise in almost a year, reports Tatyana Shumsky for the Wall Street Journal.
Investors invested $3.6 billion into gold ETFs and $3.1 billion into non-precious metals ETFs, the largest increase in nearly two years………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

Commodity exchange-traded products see biggest quarterly rise in inflows in almost two years, driven not only by gold but also a wider range of commodities
Commodity exchange-traded products (ETPs) have led the rebound in commodity investment since the start of the year with inflows rising by $7.5 billion, the largest quarterly rise in almost two years, according to ETF Securities’ Global Commodity ETP Quarterly report………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

When Singapore Mercantile Exchange, the first pan-Asian commodity exchange, opened for business in February, it chose Ho Chi Minh City as the delivery benchmark for its pepper contract, constituting a fresh setback for India in its losing battle against Vietnam for supremacy as South-East Asia’s commodity hub.
Prices set on the Mumbai-based National Commodity and Derivatives Exchange Ltd (NCDEX) have traditionally moved the global pepper market, but now this edge is in danger of being lost………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

The Depository Trust and Clearing Corporation has gone live with the first global trade repository for commodities following a pilot programme that has been running since January.
The repository represents a joint venture with EFETnet, an independent company owned by the European Federation of Energy Traders, which was created to drive electronic data exchange standardisation………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

Hong Kong Exchanges and Clearing Ltd. plans to launch offshore yuan futures in the third quarter, a move that could give it a bigger role in the city’s burgeoning market for the Chinese currency.
The proposed contract, which still needs the approval of Hong Kong regulators, would allow investors to trade the yuan against the dollar. It would require delivery of dollars by the seller and payment settled in yuan in Hong Kong by the buyer at maturity………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

If running out of your own money wasn’t bad enough, policy makers are increasingly spending other peoples’ money to bail their country out. At the upcoming G-20 meeting, finance ministers from around the world will contemplate an increase to the resources of the International Monetary Fund (IMF).
At stake for politicians is whether they can continue to do what they know best – to play politics. In contrast, at stake for investors may be whether currencies will retain their function as a store of value………………………………………..Full Article: Source

Posted on 20 April 2012 by VRS |  Email |Print

The European Union Emissions Trading System (EU ETS), launched with much fanfare in 2005, is the world’s first and only major mandatory global emissions trading scheme.
Designed to combat climate change, it currently regulates more than 10,000 installations in the EU’s energy and industrial sectors, which together are responsible for close to half of its carbon dioxide emissions and some 40 percent of the continent’s total greenhouse gas emissions………………………………………..Full Article: Source

See more articles in the archive

banner
banner
banner
banner
May 2021
S M T W T F S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031