Copper prices slumped to the lowest in two months on Tuesday on worries about the impact of incoming U.S. President Donald Trump on the economy of top metals consumer China. Three-month copper on the London Metal Exchange (LME) CMCU3 fell 2.2% to $9,125 per metric ton in official open-outcry...
Commodity News
Palm falls weighed by rival vegetable oils
Malaysian palm oil futures tumbled onTuesday after closing at their highestsince mid-June 2022 in the previous session, trailing weakness in soyoil prices. The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange lost 165 ringgit,or 3.18%, its biggest...
https://www.hellenicshippingnews.com/palm-falls-weighed-by-rival-vegetable-oils/
France raises wheat, maize crop estimates, cuts sugar beet
France’s farm ministry on Tuesday raised its estimate of the country’s 2024 soft wheat output to 25.56 million metric tons from 25.43 million last month, still one of the smallest soft wheat harvests since the 1980s. Repeated heavy rain in France, the European Union’s largest grain producer,...
https://www.hellenicshippingnews.com/france-raises-wheat-maize-crop-estimates-cuts-sugar-beet/
Japan’s October aluminium stocks down 0.5% m/m, Marubeni says
Aluminium stocks at three major Japanese ports AL-STK-JPPRT fell to 311,400 metric tons by the end of October, down about 0.5% from the previous month, Marubeni Corp 8002.T said on Tuesday. Marubeni collects data from the ports of Yokohama, Nagoya and Osaka. Source: Reuters (Reporting by Ashitha...
https://www.hellenicshippingnews.com/japans-october-aluminium-stocks-down-0-5-m-m-marubeni-says/
Ukraine’s rolled steel output, exports rise so far in 2024, union says
Ukrainian steel makers have increased rolled steel production by 20.6% so far in 2024 and boosted exports by 53.5%, local steel producers’ union Ukrmetprom said. The union said late on Monday that rolled steel output reached 5.3 million tons in January-October versus 4.4 million tons a year...
Indian wheat prices hit record high on strong demand, supply crunch
Indian wheat prices have jumped to a record high due to strong demand, limited supplies, and a delay in the government releasing stocks from its warehouses to augment supplies, industry officials said on Tuesday. The record prices are likely to lift retail inflation that surged to a 14-month high...
ASIA WHEAT OCT ROUNDUP: Australian harvest kicks off; markets digest Trump win
Australian wheat prices were rangebound in October as price support from slow grower selling was balanced by bearish pressure from healthy early harvest yields. Australian wheat rangebound, early harvest yields decent Australian wheat prices were at $262/mt and $252/mt for Australian Premium White...
WASDE update: Soybean yield revisions tighten up market
US corn exports left unchanged despite surge in export sales The USDA has lowered its 2024/25 US corn ending stock estimates from 1,999m bushels to 1,938m bushels – but this was still above market expectations of around 1,921m bushels. Yield estimates were cut slightly, which saw production...
https://www.hellenicshippingnews.com/wasde-update-soybean-yield-revisions-tighten-up-market/
Copper falls to two-month low on stronger dollar, weak China demand
Copper prices slid to a two-month low on Tuesday, as the U.S. dollar strengthened and weak demand prospects in top metals consumer China continued to weigh on the market in the wake of recenteconomic stimulus measures. Three-month copper on the London Metal Exchange (LME) CMCU3 was down 1.7%to...
US soybean trade with China already strained before Trump’s return
Uncertainty increased for U.S. soybean exporters this week with Donald Trump’s election win, since shipments to top customer China were severely curbed when a trade war began during Trump’s first presidency. However, U.S. soybean trade to China was already going poorly prior to Tuesday’s election,...