Commodities News

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Mon, 12 May 2008 10:15:00 GMT

Rising wheat and flour prices flatten bakers

Rochelle de Kock HERALD REPORTER EASTERN Cape bakeries are struggling to keep afloat due to the constant increase in wheat and flour prices, and some say they may have to lay off workers. The wheat price has more than doubled in the past year, and
Mon, 12 May 2008 10:15:00 GMT

No wheat import this year: Pawar

New Delhi (PTI): India, which bought wheat from markets abroad for two years to feed its public distribution system, ruled out any imports this year as food grain procurement neared 20 million tons against the targeted 15 MT. 'Though we have a target
Mon, 12 May 2008 09:51:00 GMT

Barge line posts profit despite weather, oil and steel prices

American Commercial Lines Inc. today announced first quarter net profit of $2.3 million, compared to a net loss of $1.1 million for the first quarter of 2007 Revenue for the quarter increased 18.5 percent to $270.5 million from $228.2 million for the
Mon, 12 May 2008 09:43:00 GMT

South Africa: Dollar Lights a Fire Under Commodities

with platinum hitting a seven-week high and crude oil cruising to new records. In part the rush on commodity prices was due to a weakening dollar, which fell in response to the UK and Europe keeping their interest rates on hold. Simon Hudson-Peacock,
Mon, 12 May 2008 09:43:00 GMT

PT Timah Tbk to Acquire Tin Mines in Myanmar and Vietnam-Asia Pulse

Extract not available.
Mon, 12 May 2008 09:39:00 GMT

Bid to smuggle wheat foiled in Toba

Our Correspondent TOBA TEK SINGH: The district food controller along with a raiding team foiled an attempt to smuggle wheat worth Rs 2,50,000 from Toba to Faisalabad district on Sunday.On a tip-off, the raiding party caught a tractor trolley loaded with
Mon, 12 May 2008 09:33:00 GMT

Southern Lithoplate Earns PAGE Co-Op Platinum Supplier Designation

WAKE FOREST, N.C. -- Southern Lithoplate, Inc. has the distinction of being the only manufacturer of lithoplates to be recognized by the PAGE Cooperative's new Platinum Supplier Program. The Platinum Supplier award acknowledges outstanding achievement of
Mon, 12 May 2008 09:28:00 GMT

Australians open another Laos copper mine

Queensland-based Pan Australian Resources is the second Australian miner to develop a strong mining footprint in the relatively undeveloped South East Asian nation of Laos, following the footsteps of now well established Oxiana Ltd. PERTH - Veteran
Mon, 12 May 2008 09:28:00 GMT

Dollar lights a fire under commodities

with platinum hitting a seven-week high and crude oil cruising to new records. In part the rush on commodity prices was due to a weakening dollar, which fell in response to the UK and Europe keeping their interest rates on hold. Simon Hudson-Peacock,
Mon, 12 May 2008 09:23:00 GMT

Anglo American: Strike Begins At Skorpion Zinc Mine

LONDON Workers represented by the Mineworkers Union of Namibia are protesting over pay, he said. Skorpion is located north of Rosh Pinah in southern Namibia -By Andrea Hotter
Mon, 12 May 2008 09:14:00 GMT

More than half of oil and gas executives polled in a recent survey think oil prices will drop below $100 a barrel by the end of the year.

KPMG LLP's Global Energy Institute's annual survey, which was released May 9, shows that some 55 percent of the 372 financial executives polled in April think oil prices will begin to decline from early May's all-time high of $120 per barrel and beyond.
Mon, 12 May 2008 09:14:00 GMT

Building aluminium's appeal

The UK aluminium industry is courting designers, hoping to boost their use of the metal in everything from housing projects to high-end radiators. As demand for the metal in Europe is outpaced by China, the UK aluminium sector is promoting the metal as a
Mon, 12 May 2008 09:13:00 GMT

Overland Resources raises $10m for Andrew zinc deposit

Overland Resources Ltd has raised $10 million from Glencore International to advance its Andrew zinc deposit in Canada through a full feasibility study towards production. The company has also secured rights to sales and marketing of concentrates from
Mon, 12 May 2008 09:12:00 GMT

Commodities giant's high-wire act

(Fortune) -- You might assume the commodities boom has been an unalloyed good for Bunge, a nearly 200-year-old agriculture-industry titan with $38 billion in sales. The company, whose name is pronounced with a hard 'g' (BUNG-ee), is relatively unknown
Mon, 12 May 2008 08:51:00 GMT

Intl oil prices depict a microscopic fall

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Mon, 12 May 2008 08:49:00 GMT

Argentina sharply reduces wheat acreage

Extract not available.
Mon, 12 May 2008 08:41:00 GMT

Global's Zenith Fund eyes opportunities in commodities

Shailesh Dash, Head of Alternative Investments at Global pointed out that heavy energy demand that has been spurred by industrialization, especially in emerging economies where demand for oil has surpassed that of North America. Demand for industrial
Mon, 12 May 2008 08:38:00 GMT

Parabolic Move In Crude Oil Looks Extended

This is a bit of a stretch, but a comparison of the current price of crude oil futures and the Dow Industrials from 1987 would indicate that crude is getting a bit extended. The following shows a daily chart of crude oil futures hitting a DeMark
Mon, 12 May 2008 08:35:00 GMT

PetroVietnam To Form Crude Oil JV In Russia -Co Official

HANOI -(Dow Jones)- PetroVietnam Group plans to set up a joint venture with a Russian firm in May or June to produce crude oil in a northern region of Russia, a PetroVietnam official said Monday. 'PetroVietnam and a Russian firm have secured rights to
Mon, 12 May 2008 08:27:00 GMT

Qatar Oil Min Sees No Need For OPEC To Meet Before September

DUBAI (Zawya Dow Jones)--Qatar's oil minister Abdullah bin Hamad al Attiyah told Dow Jones Monday that he doesn't see the need for the Organization of Petroleum Exporting Countries to meet before their next scheduled gathering in September in response to
Mon, 12 May 2008 08:24:00 GMT

UPDATE:Qatar Oil Min Sees No Need For OPEC Meet Before Sept

(Adds background.) DUBAI (Zawya Dow Jones)--Qatar's oil minister Abdullah bin Hamad al Attiyah told Dow Jones Monday that he doesn't see the need for the Organization of Petroleum Exporting Countries to meet before their next scheduled gathering in
Mon, 12 May 2008 08:24:00 GMT

Europe up with commodities

LONDON (MarketWatch) - Stocks in Europe moved higher on Monday morning, with investors bidding up stocks geared to commodity price rises. The U.K. FTSE 100 index (UK:UKX: news, chart, profile) advanced 0.4% to 6,228.50, the German DAX 30 index
Mon, 12 May 2008 08:15:00 GMT

China April crude oil imports 14.24 mln tons vs 14.82 mln - customs

Extract not available.
Mon, 12 May 2008 08:11:00 GMT

No wheat import this year: Pawar

The government today ruled out importing wheat this year as procurement of the foodgrain is all set to reach 20 million tonnes against the targeted 15 million tonnes in the current marketing season. 'Though we have a target of 150 lakh tonnes, we will
Mon, 12 May 2008 07:58:00 GMT

HSBC fund division cuts exposure to commodities

London :One of HSBC's most actively managed fund divisions has been reducing its exposure to commodities, expecting a major correction in the high-flying sector. The $2.7 billion Absolute Return Service, part of HSBC Investments, now holds only around
Mon, 12 May 2008 07:58:00 GMT

Commodity prices could see some correction soon

Extract not available.
Mon, 12 May 2008 07:58:00 GMT

Provisions on Examination and Approval of Establishment of Import and Export Commodities Inspection and Appraisal Enterprises with Foreign Investment

(Promulgated by the State Administration for the Import and Export Commodities Inspection and the Ministry of Foreign Trade and Economic Cooperation on October 9, 1995) Article 1 These Provisions have been formulated in the light of relevant laws and
Mon, 12 May 2008 07:51:00 GMT

Oil prices hit new high despite rising U.S. inventories, stronger dollar, 05/07

Oil futures surged to break 123 U.S. dollars a barrel Wednesday, despite bearish data on U.S. crude inventories and stronger dollar against major currencies. Light, sweet crude for June delivery hit a all-time peak of 123.80 dollars a barrel on the New
Mon, 12 May 2008 07:51:00 GMT

Gold, silver moving downward; platinum remains firm

New York (Platts)--9May2008 Gold and silver prices came off significantly on the COMEX Friday morning due mainly to profit taking, according to trade sources, while platinum is holding steady just $5 shy of the $2,100/oz mark and less than $20 off its
Mon, 12 May 2008 07:45:00 GMT

PT Timah to acquire tin mines in Myanmar, Vietnam

Hundreds of people on Monday rallied in front of the Presidential Office on Jalan Merdeka Utara in Central Jakarta to protest against the government's plan to raise fuel oil prices and demand the lowering of food prices. Venezuela's proven crude oil
Mon, 12 May 2008 07:41:00 GMT