Commodities got off to a mixed start this morning as the DJ-UBS Commodity Futures index slipped 0.4% while the dollar weakened against most major currencies ahead of a busy economic calendar this week. In London, base metals were lower across the board this morning including softer LME official 3-mo. asking... read more
Davis Trading News
On Friday, better than expected Purchasing Managers’ Index figures out of China provided some early support to commodity prices although equity prices at the major exchanges in Europe were down in morning trading. In Shanghai, SHFE Jan copper settled 0.3% higher today and while in London LME 3-mo. copper and... read more
On Friday positive economic data out of China and a weaker dollar briefly provided support to industrial commodity prices as analysts re-assess their expectations for Fed tapering in the aftermath of the showdown over the debt ceiling and government shutdown. In London, LME 3-mo. copper and nickel reportedly traded as high... read more
On Friday, commodities remained under pressure while stocks rebounded as reports on U.S. consumer sentiment and retail sales came in below expectations. The DJ-UBS Commodities Future Index was down 0.45% early this afternoon amid weaker prices for gold, oil and most of the base metals. In London, LME 3-mo. copper... read more
On Friday, markets reacted to the jobs report from the Labor Department that in many respects came in below expectations but wasn’t sufficiently terrible as to have a clear impact on the Fed’s expected slowdown in asset purchases (aka “tapering”). The major stock indexes in the U.S. initially dipped on... read more
B.C.'s Electric Outdoor Power Equipment Recycling Program Exceeds Collection Site Target by 20 Per Cent for Year One VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2013) - The Outdoor Power Equipment Institute of Canada's (OPEIC) new recycling program for old or broken electrical outdoor power equipment has exceeded its... read more
On Friday, commodities and equities ended the month of August on a weak note as continued uncertainty about the Fed and Syria reportedly weighed on a range of prices heading into the long Labor Day weekend. The DJ-UBS Commodity Futures Index was off around 0.9% today as base metal, energy,... read more
On Friday, markets shrugged off a worse than expected reading on new home sales as the DJ-UBS Commodity Futures Index rose nearly 0.9% while the dollar slipped against most major currencies. With the exception of tin, base metal prices advanced on the LME today as LME 3-mo. copper and aluminum... read more
On Friday, base metal prices advanced despite mixed economic reports in the U.S. and a somewhat stronger dollar. In London, LME official 3-mo. asking prices were firmer across the board this morning including for copper $7,374.50/mt (=$3.345/lb.), aluminum $1,926/mt (=87.4 cents/lb.) and nickel $14,800/mt (=$6.71/lb.), and those gains were extended... read more
Commodities mostly added to last week’s gains following the better than expected Chinese trade and industrial production figures released last week. In Shanghai today, most actively traded SHFE Dec copper settled 1.1% higher and base metal prices were holding up in London and New York today. At the London Metal Exchange... read more