Commodities

Fundamentals and price point to ‘cast iron future’

23 May 2012 | Brendon Lau

PRINT: 24 May 2012 | PAGE 4 | Fundamentals, price point to ‘cast iron future’

Iron ore stocks have taken the brunt of the latest sell-off as the commodity’s price tumbled following the European debt crisis and Chinese slowdown. But experts believe there is too much pessimism priced into shares.

Gold extends losses ahead of EU summit

23 May 2012 |

Gold edged lower on Wednesday, extending sharp losses made in the previous session as hopes faded that an informal European Union meeting later in the day would yield steps to help with the region's debt crisis.

Crude prices drop on Iran talks, euro concerns

23 May 2012 |

US crude fell on Tuesday, extending Tuesday's losses as a potential deal between Iran and the UN nuclear watchdog eased oil supply worries, while concerns about Europe continued to pressure prices.

Cautious on copper as metals steady

23 May 2012 |

Base metals have closed mixed on the LME, boosted later in the session by stronger-than-expected homes sales data from the US, but still trading cautiously ahead of a much-anticipated European Union summit the following day.

Gold falls ahead of European summit

23 May 2012 |

Gold traded near intraday lows with selling accelerating on low volumes as the euro lost further ground ahead of a much-anticipated European summit.

Oil falls as IAEA sees deal with Iran

23 May 2012 |

Oil fell on Tuesday in choppy trading as indications a deal may be near on Iran’s nuclear program eased worries about oil supply disruptions, countering supportive US home resale data.

Uptick in 2013 – but not for property

22 May 2012 | Jacob Greber

PRINT: 23 May 2012 | PAGE 1 | An uptick in 2013 but not for property

The Organisation for Economic Co-operation and Development has upgraded its forecast for economic growth in Australia next year but warns the negative effects of the mining boom may hurt the property market.

Don’t be sure about gold’s future

22 May 2012 | Stephen Wyatt

The gold bubble will burst. It’s just a matter of when and how far the price will fall.

Crude edges up, stays above $US92; Iran talks eyed

22 May 2012 |

US crude inched up on Tuesday, extending gains from the previous session when prices snapped out of a six-day losing streak on hopes Beijing would take action to stimulate growth.

Gold flat, investors await euro zone meeting

22 May 2012 |

Gold traded little changed on Tuesday, as investors await a European Union summit that is expected to discuss fresh action to solve the region's debt crisis that has been threatening global growth.

Vale: iron ore sales brisk despite China

22 May 2012 |

Brazilian miner Vale is selling iron ore about as fast as it can mine it despite a slowdown in the economy of China, its top customer, the company’s head of investor relations said on Monday.

Gold falls back as investor anxiety rises

22 May 2012 |

Gold futures have pulled back, the first loss in three trading sessions, as a lack of a new economic-policy response to Europe's debt woes limited demand for the precious metal as an alternative asset.

Gold eases after failing to breach $US1600/oz

22 May 2012 |

Gold prices slipped on Monday after early buying failed to lift prices past $US1600 an ounce, with investors still cautious about the precious metal,

Oil price flat despite G8’s attempts to stir

21 May 2012 |

US crude prices were flat above $US91 per barrel on Monday as concerns about the European economy continued to weigh on prices.

Oil keeps falling, while gold rebounds

21 May 2012 |

Investors have take a shine to precious metals as gold, silver and platinum regained strength on Friday. But oil is sinking to its lowest price in months as markets remain pessimistic.

Hope is gone, but China’s still going

21 May 2012 | Stephen Wyatt

PRINT: 21 May 2012 | PAGE 26 | Bubble of hope explodes, but China’s still strong

The “hope premium” that has been priced into resource markets over the past three years is being ruthlessly stripped away right now.

Bullion meets resistance at $US1597 an ounce

19 May 2012 |

Gold rose more than 1 per cent on Friday, on track for its largest two-day gain since October, boosted by investors’ consolidation of positions ahead of the weekend and a stronger euro.

US wheat posts biggest weekly gain in 16 years

19 May 2012 |

US wheat surged on Friday to post its biggest weekly gain in 16 years, adding about 17 per cent to prices and notching an eight-month high as hot and dry weather stoked fears about production losses.

BHP, Rio shareholders advised to stay calm

19 May 2012 | Ayesha de Kretser

PRINT: 19 May 2012 | PAGE 3 | BHP, Rio shareholders advised to stay calm

It’s been a rough ride for shareholders invested in mining stocks this week but there’s no sign yet that anyone should be racing for the exits.

Land of the rising sum

18 May 2012 | Stephen Wyatt

PRINT: 18 May 2012 | PAGE 1 |

There may well be a new pillar of support for Australian resources and the Australian economy – Japan, which is seeing growth at last.

Gold ticks higher after largest one-day gain in three months

18 May 2012 |

Gold ticked up on Friday, after posting its largest one-day gain in more than three months, but prices were on track to drop for a third straight week on mounting worries over the euro-zone debt crisis.

US crude ends lower a 5th straight day

18 May 2012 |

US crude futures fell for a fifth straight session on Thursday as US economic data and ongoing worries about the euro zone and Greece's political and debt crisis pressured oil prices.

Copper steady but near four-month lows

18 May 2012 |

Copper steadied after hitting four-month lows the previous session, but sentiment was cautious given worries Spain might be hard hit if Greece leaves the euro and defaults on its debt.

Gold rises as bargainers start buying

17 May 2012 |

Gold rose 0.5 per cent on Thursday as bargain hunters resurfaced after prices tumbled to another four-and-a-half-month low in the previous session and the euro rebounded.

Investors abandon oil and key metals

17 May 2012 |

Oil and a range of metal prices extended their downward slide Wednesday over fears that debt-crippled Greece will exit the euro, wreaking havoc in the euro zone.

Five million hungry in South Sudan oil row

17 May 2012 |

Almost five million people in South Sudan - more than half of the population - face increasingly severe food shortages after their government ceased oil exports in a row with Sudan.

Additional Wheatstone stake to be sold

17 May 2012 | Angela Macdonald-Smith

PRINT: 17 May 2012 | PAGE 1 | Wheatstone stake sale

US oil major Chevron is set to sell an additional stake in its $29 billion Wheatstone liquefied natural gas project in Western Australia to a group of Japanese companies, including struggling Tokyo Electric Power Co. (Tepco), strengthening supply security for the energy-strapped nation.

Gold hits 4-1/2 month low as $US strengthens

16 May 2012 |

Gold extended losses on Wednesday and slipped to its lowest since December after Greece's failure to form a government prompted investors to cut their exposure to the precious metal, which is now behaving like other risk assets.

London copper slips to 4-mth low on Greece woes

16 May 2012 |

London copper fell to a four-month low on Wednesday, extending losses to a fourth consecutive session after Greece said it would hold a second round of elections.

China fear sinks resource stocks

16 May 2012 | Ayesha de Krester

PRINT: 16 May 2012 | PAGE 5 | China fear sinks resource stocks

Australian resources stocks were sold to their lowest level since October 2009 after commodity prices plunged on fears about slowing Chinese growth and the deepening European crisis.

Steep costs mean gold price must rise

15 May 2012 |

Sharp increases in mining costs mean gold will need to reach $US3000 an ounce in five years for the industry to stay profitable, said the World Gold Council.

Investors turn from gold, seeking safety

15 May 2012 |

Gold on Tuesday briefly dropped to its lowest since late December as the euro sank against the US dollar on worries crisis-hit Greece could leave the euro zone.

‘Risky’ copper hits four-month low

15 May 2012 |

London copper hit fresh four-month lows on Tuesday as investors steered clear of riskier assets with no resolution in sight to Greece's political distress that is compounding investor concerns about a slowing Chinese economy.

Yes, the resources boom is over

15 May 2012 | Stephen Wyatt

Commodities are falling as fears build that Greece will leave the euro zone.

Oil prices to double by 2022, IMF paper warns

15 May 2012 | Angela Monaghan

Oil prices could double over the next decade with sweeping implications for the global economy, according to a report commissioned by the International Monetary Fund.

Oil, gold, copper fall as worry grips investors

15 May 2012 |

Oil and key metal prices have slumped as the US dollar strengthens against the euro on mounting investor worries over Europe’s debt crisis, traders said.

Iranian oil tankers lie idle as sanctions hit

15 May 2012 |

Tighter sanctions have paralysed Iran’s tanker fleet, forcing more than half of the country’s vessels to lie idle in the Gulf because there are no buyers for their oil.

Video | APPEA: Emissions and Saudi Arabia

14 May 2012 |

The Minister of Petroleum and Mineral Affairs says Australia and Saudi Arabia need to take responsibility for reducing the greenhouse gas emissions.

Brent nears $US111 on euro zone worries

14 May 2012 |

Brent crude slipped towards $US111 on Monday, continuing to drop for a third straight session, after talks to form a new government in Greece failed.

Copper firms after China makes a move

14 May 2012 |

London copper futures edged higher on Monday, bouncing back from the previous session’s loss, after top consumer China cut its bank reserve requirement ratio for a third time in six months to boost a slowing economy.

Gold ticks up, off 4-month low on Nikkei

14 May 2012 |

Updated | Gold edged up on Monday after an early rebound in Japanese stocks ignited bargain hunting, but gains were capped by inconclusive election results in Greece raised the risk the country could exit the euro.

So much depends on Beijing’s mandarins

14 May 2012 | Stephen Wyatt

PRINT: 14 May 2012 | PAGE 5 | So much depends on mandarins

The warning signals are building. Commodities are on the precipice and they may have toppled over if not for China moving to ease monetary policy.

Worley looks to LNG logistics opportunity

14 May 2012 | Jenny Wiggins

PRINT: 14 May 2012 | PAGE 2 | Worley looks to LNG logistics

The veteran head of Australia’s biggest engineering firm claims the country is already pricing itself out of design and other work on big resource projects such as liquefied natural gas.

Chevron upbeat about Asian LNG take-up

14 May 2012 | Angela Macdonald-Smith

PRINT: 14 May 2012 | PAGE 3 | Chevron upbeat about Asian take-up

Chevron has brushed aside concerns about competition from North America in liquefied natural gas supply, speaking bullishly of the prospects for expansion at its Wheatstone project.

Qatar to buy major stake in Royal Dutch Shell

12 May 2012 |

Gas-rich Qatar is ploughing more of its commodity wealth back into the sector with the purchase of a major stake in Royal Dutch Shell, while also reportedly eyeing a chunk of Italian oil major ENI.

Copper eases as investors eye China data

11 May 2012 |

Copper prices eased a touch on Friday, reversing gains from the previous session ahead of the release of China’s industrial output data that is expected to shed light on the health of its economy.

The great haul of China

11 May 2012 | Stephen Wyatt

If Chinese data hits forecasts it will cushion the negative trade story, but any shocks will send commodities crashing.

Base metals close mixed on LME

11 May 2012 |

Base metals have closed mixed on the London Metal Exchange (LME), stabilising in line with the stock markets and the euro after US jobless data came in lower than expected.

Saudi to supply full contract volumes to world

11 May 2012 |

Saudi Arabia will keep supplying crude oil to its customers in June at the same volume as May as ample supplies of competing grades keep pressure off refiners to replace Iranian barrels.

Canada farms getting bigger, but fewer

11 May 2012 |

The average Canadian farm grew to a record size in 2011, even as the number of farms shrank to a record low, helping level the field for bulked up farm operations.

Beats us, Mirabela’s boss says as scrip falls

11 May 2012 | Ayesha de Kretser

PRINT: 11 May 2012 | PAGE 25 | Beats us, Mirabela’s boss says as scrip falls

Mirabela Nickel fell even further in trading yesterday but chief executive Ian Purdy says the company’s debt structure is “rock solid”.

China trade falls on Europe weakness

11 May 2012 | Victoria Ruan

PRINT: 11 May 2012 | PAGE 3 | China trade drops on weak Europe

China’s exports and imports rose less than estimated in April as weakness in Europe and a domestic slowdown weighed on trade, adding pressure on the government to ease policies to spur expansion.

Rio cautious on Europe, China data disappoints

10 May 2012 | Peter Wells

Rio Tinto might be more positive on the global outlook, but its chairman is wary of the outlook for Europe, which is already starting to trouble some pure plays. Meanwhile, China’s export and import growth disappoints.

Gold tumbles despite euro carnage

10 May 2012 | Dan Hall

PRINT: 10 May 2012 | PAGE 2 | Gold languishes despite euro carnage

Gold is typically treated as a safe haven in times of economic stress, so why has it failed to take heart from Europe’s woes?

Mirabela slump triggers mining boom fears

10 May 2012 | Ayesha de Kretser

PRINT: 10 May 2012 | PAGE 1 | Mirabela dives for cover as materials index slashed

A dramatic fall in Mirabela Nickel’s share price has sparked fears that the resources boom is faltering as weakening European demand and China’s slowing growth continue to weigh on investors.

Get set for Beijing’s numbers game

10 May 2012 | Robert Guy

PRINT: 10 May 2012 | PAGE 2 | Get set for Beijing’s numbers game

Guy | It’s a big week for resource executives and investors as Beijing begins its monthly parade of economic data.

Soft commodity plays go against the grain

09 May 2012 | Peter Wells

Grain stocks manage to escape the sharemarket sell-off amid further signs of global consolidation in the agribusiness sector.

Gold’s rex appeal problem

09 May 2012 | Peter Wells

Would you start to get the feeling gold is out of favour when a man wants to do away with it as his surname? Admittedly, changing one’s surname to Tyrannosaurus Rex does sound tempting.

China politics a matter of concern

09 May 2012 | Stephen Wyatt

PRINT: 10 May 2012 | PAGE 1 | China politics a matter of concern

Eyes popped in the commodities world when reports emerged that China was possibly going to delay its five-yearly congress.

Guatemala’s coffee trees decimated by fungus

09 May 2012 |

A mutant strain of one of the world’s most devastating coffee diseases is attacking crops in Guatemala, putting farmers on high alert for a wider outbreak across Central America.

Gold falls toward 2012 lows on Greece

09 May 2012 |

Gold fell more than 2 per cent, approaching this year’s lows and briefly breaking below $US1600 an ounce as fresh concerns over the euro zone debt crisis triggered a technical selloff.

Snapshot: US crude futures extend losses

09 May 2012 |

US crude oil futures fell for the fifth straight day on Tuesday as Europe’s political and economic troubles deepened on post-election uncertainty in Greece.

The case against austerity

09 May 2012 | Stephen Wyatt

PRINT: 09 May 2012 | PAGE 24 | The case against austerity

Risk assets, including commodities, showed extraordinary resilience as the euro debt crisis exploded back to life, reflecting continued expectations of a soft landing in China.

Oil falls below $US113 on slowdown, higher output

08 May 2012 |

Brent crude oil fell below $US113 a barrel on Tuesday in a fifth day of losses as economic slowdown on both sides of the Atlantic deepened fears of lower oil demand at time of ample supply from major oil producers.

Gold dragged down by weak euro

08 May 2012 |

Gold edged lower on Tuesday as a backlash by voters in Greece and France against austerity measures weighed on the euro, although prices were supported by bargain hunters lurking around the lower end of the metal's recent range.

Brent crude holds above $US113 after 4-day drop

08 May 2012 |

Brent crude held steady above $US113 a barrel on Tuesday, recovering slightly from steep losses in the previous four sessions caused by fears that the slowing economies of the United States and the euro zone would reduce oil demand.

China daily steel output hits record in April

08 May 2012 |

China's daily crude steel output hit a record high of 2.026 million tonnes in April, industry data showed on Tuesday, as the country's steelmakers sustained high production despite a slow recovery in demand.

China eyes pricing upper hand with iron ore platform

08 May 2012 |

PRINT: 08 May 2012 | PAGE 1 | RPT-China eyes upper hand in pricing with iron ore platform

China's first physical iron ore trading platform began trading on Tuesday, helping the world's biggest buyer of the commodity boost its price-setting influence.

Gold pressured by euro; China, India demand helps

08 May 2012 |

Gold held steady on Tuesday as a backlash by voters in Greece and France against austerity measures continued to weigh on the euro, while upbeat prospects for demand in India and China lent some support.

Crude steady near $US98 ahead of US stock data

08 May 2012 |

US crude futures were barely changed in early trade on Tuesday, supported by steady financial markets after European election results sparked concerns on the region's debt crisis.

Austerity? Non, merci

08 May 2012 | Stephen Wyatt

PRINT: 08 May 2012 | PAGE 1 |

Risk assets, including commodities, showed extraordinary resilience as the euro-debt crisis exploded back to life.

Commodities markets summary

08 May 2012 |

Copper futures have risen and oil prices have ended mixed, amid a muted reaction across markets to the French and Greek elections over the weekend.

Oil leads fall as French, Greek polls counted

07 May 2012 |

Oil hit multi-month lows and other commodities slid on Monday as French and Greek elections led to more uncertainty for an economically fragile region and fuelled a resurgence of bearish sentiment for risk assets that emerged after last week’s US jobs data.

Germans’ top investment destination

07 May 2012 | Lucy Gao

China has become German companies’ top foreign investment destination for the first time, securing $US1.36 billion in investment by the end of last year.

Oil extends losses in Asian trade

07 May 2012 |

Oil prices have extended losses in Asian trade, as French and Greek election results stoked investor concerns over the euro zone debt crisis, while disappointing US economic data also weighed.

Gold off 1-1/2 week low on US data, Europe elections

07 May 2012 |

Gold edged down on Monday, as sluggish US jobs data fuelled hopes for more monetary easing, while elections in Europe added to worries on the euro zone debt crisis.

Downside surprises not a shock

07 May 2012 | Stephen Wyatt

PRINT: 07 May 2012 | PAGE 31 | Downside surprises should be a shock to no one

Poor US employment creation and recession in Europe are putting commodity markets under pressure.

Swan’s epic budget task faces economic reality

07 May 2012 | Jacob Greber

PRINT: 07 May 2012 | PAGE 25 | Swan’s epic budget task constrained by reality

With all eyes this week on Treasurer Wayne Swan’s plan to engineer a record budget turnaround, a flood of reports may underscore the size of the challenge.

Barclays commodities chief moves to Mercuria

05 May 2012 |

Barclays has lost its commodities trading chief Roger Jones to Swiss trader Mercuria, one of the biggest in a series of moves by commodities traders from banks to less-regulated trading operations.

Glencore says Canada clears buy of Viterra

05 May 2012 |

Glencore International said on Friday that Canada’s Competition Bureau has sent the company a letter saying it will not oppose Glencore’s $C6.1-billion friendly takeover bid for grain handler Viterra.

Gold rises on renewed safe-haven bet

05 May 2012 |

Gold rose on Friday as investors selling crude oil and equities bought the metal after a weak US nonfarm payroll report boosted bullion’s investment appeal.

Copper falls as global outlook doubts rises

05 May 2012 |

Copper fell to its lowest level in more than a week on Friday as a second-straight month of soft US employment growth fed worries about the health of the global economy.

Sugar futures extend their rebound

05 May 2012 |

Raw sugar futures extended their rebound on Friday on short-covering following several days of heavy selling and on expectations consumer demand may pick up.

US corn jumps on firm cash prices

05 May 2012 |

US corn futures turned sharply higher in nearby contracts on Friday, shaking off early losses as shrinking grain supplies sparked a rally in cash prices.

Keystone pipeline takes second shot at US approval

05 May 2012 |

TransCanada is taking its second shot with the contentious Keystone XL oil pipeline, betting that a new route through Nebraska and a post-election decision will push the project forward.

Oil set for biggest 3-day rout since August

05 May 2012 |

Oil plunged more than 3 per cent on Friday, with US crude below $US100 a barrel for the first time since February, as an abrupt slow-down in US hiring soured economic sentiment.

Constellation has no plans to increase wine prices

05 May 2012 |

The US economy remains too delicate for Constellation Brands to lead any attempt to raise wine prices, even as a smaller harvest is expected to make grapes more expensive.

US sets new rules for fracking on federal lands

05 May 2012 |

The Obama administration unveiled long-awaited rules on Friday to bolster oversight of “fracking” on public lands, seeking to allay environmental concerns over the technology.

Gold slides below $US1630

04 May 2012 |

Gold prices fell in Europe on Friday and were on track for their biggest weekly loss in seven, as traders took to the sidelines ahead of key payrolls data later in the day, and as the euro weakened ahead of elections in France and Greece this weekend.

Snapshot: Oil under $US116

04 May 2012 |

Oil slipped under $US116 per barrel on Friday, ahead of a US payrolls report, and was poised for its steepest weekly fall since December due to concerns over the health of the global economy and easing fears over supply disruption.

Gold heads for biggest weekly drop in a month

04 May 2012 |

Gold fell on Friday and was on track for its biggest weekly drop in a month, reflecting caution among investors ahead of a key US payrolls report after a slew of weak economic data drove bullion down in the last three sessions.

Brent steady above $US116

04 May 2012 |

Brent crude held above $US116 per barrel on Friday ahead of a key US payrolls report, with the benchmark poised for its steepest weekly fall since December due to concerns over the health of the global economy and easing supply disruption fears.

Sharemarket puckers but no passionate rally

04 May 2012 | Stephen Calder

The S&P/ASX 200 sharemarket index puckered up to the 4400 level on Monday, ahead of the rate cut, and kissed it on Tuesday. Then there was a long embrace and some dancing at that level, but no consummation in the form of a firm rally, and by the end of the week it all went soft again.

LME copper edges off 1-week low ahead of US data

04 May 2012 |

London copper edged up on Friday, after touching one-week lows in the previous session, although the modest gains reflect caution ahead of Friday’s US jobs report.

Blind activist turns up the tension

04 May 2012 | Stephen Wyatt

If the impact from blind activist Chen Guangcheng’s escape deepens into political instability, commodities will collapse.

Gold falls 1pc, US payrolls eyed

04 May 2012 |

Gold fell 1 per cent on Thursday as tumbling crude oil prices and weak US service-sector data sent bullion prices to their biggest one-day drop in a month ahead of a key US nonfarm payrolls report.

World briefs

04 May 2012 |

PRINT: 04 May 2012 | PAGE 41 | World briefs

International travellers face disruption at airports and ports across Britain next week after unions representing border guards announced a one-day strike.

Goose running out of feathers

04 May 2012 | Matthew Stevens

PRINT: 04 May 2012 | PAGE 1 | Goose running out of feathers

The miners keep telling our leaders that phase one of the boom is over. The only way forward then is a big step up in volume.

Will the mighty dollar ever fall?

04 May 2012 | Jacob Greber

PRINT: 04 May 2012 | PAGE 37 | Rising dollar spreads pain to resources sector

Now even the world’s second-biggest mining company is complaining about the high Australian dollar.

Miners say there’s plenty of fish in the sea

04 May 2012 | Ayesha de

PRINT: 04 May 2012 | PAGE 2 | Plenty of fish in the mining sea

As regulations and labour prices rise in Australia, miners say costs are starting to outweigh the sovereign risk posed by competing nations.

Gold eases ahead of euro zone rate decision

03 May 2012 |

Gold eased on Thursday, under pressure from a decline in the euro ahead of a rate decision from the European Central Bank, while concern about Spain's ability to finance itself simmered after yields shot up at a debt auction.

Expensive CBOT prices to boost China state soy sales

03 May 2012 |

Some Chinese soy crushers could turn to cheaper government stockpiles as Chicago Board of Trade prices soar and supplies from South America dwindle, traders said on Thursday.

Palm oil at 6-week low on global economic woes

03 May 2012 |

Malaysian palm oil futures extended losses to a six-week low on Thursday, as disappointing economic data from the United States and Europe cast doubts on global economic recovery and commodity demand.

OPEC says supply ample, speculation driving price

03 May 2012 |

Oil supply will be more than sufficient to meet demand this year and beyond, OPEC's Secretary General said on Thursday, but added the price of fuel is being driven higher by speculation.

Oil sags on inventory build, soft data

03 May 2012 |

Crude oil futures have fallen, pressured by a sixth straight weekly build in US crude inventories and weak economic data from the United States and Europe.

Gold extends losses for second session

03 May 2012 |

Gold fell on Wednesday as weak physical demand and losses in equities and other commodities following disappointing US private-sector jobs data.

India move sinks global sugar prices

03 May 2012 |

India has removed any limit on sugar export volumes for now, a government source said on Wednesday, adding pressure to global prices.

Alumina eyes China opportunity

03 May 2012 | Ayesha de Kretser

PRINT: 03 May 2012 | PAGE 3 | Alumina eyes China opportunity

Alumina will continue to monitor developments in Indonesia with a view to exporting bauxite from Australia to Chinese refineries, chief executive John Bevan said yesterday.

Gold retreats as US data lifts greenback

02 May 2012 |

Gold prices retreated towards $US1650 an ounce in Europe on Wednesday after a downbeat reading of euro zone manufacturing activity contrasted with stronger data from the United States, pushing the euro lower versus the dollar.

Rain hits wine grape production

02 May 2012 |

Australian production of wine grapes is set to sink to a five-year low this year after two wet summers damaged vines.

Yield-chasers leave commodities behind

02 May 2012 | Stephen Wyatt

PRINT: 03 May 2012 | PAGE 38 | Shares soar as investors chase yields

US equities are roaring and on the cusp of reaching record highs; commodities are not­.

Gold edges down as US data eases economic worries

02 May 2012 |

Gold edged down on Wednesday, off a two-week high hit in the previous session as upbeat US manufacturing data soothed worries about the economy and dampened hopes of more monetary easing.

US news prompts BNP Paribas gold downgrade

02 May 2012 | Dan Hall

PRINT: 02 May 2012 | PAGE 1 |

Precious metals analyst have substantially downgraded gold price forecasts following the US Federal Open Market Committee’s statement on monetary policy last week.

Crude steady near $US106, US data supports

02 May 2012 |

US crude futures held steady near $US106 on Wednesday, after sharp gains a day earlier on faster-than-expected manufacturing growth in the United States, the world's top oil consumer.

CME will expand grain trading hours

02 May 2012 |

CME Group confirmed on Tuesday it will expand trading hours for grain futures starting the same day that rival IntercontinentalExchange is slated to launch competing contracts.

Gold falls as easing prospects diminish

02 May 2012 |

Gold fell on Tuesday, snapping a five-day winning streak as better-than-expected US manufacturing data further diminished chances of additional US monetary easing.

Oil rises on brighter US outlook

02 May 2012 |

Oil prices turned higher on Tuesday after data showing the US manufacturing sector expanded at its fastest pace in 10 months in April eased concerns about slowing economic growth.

Times are ripe for a record cotton crop

01 May 2012 |

Australia, the world's No. 3 cotton exporter, will harvest a record 4.4-4.5 million bales this season thanks to good growing conditions and increased acreage encouraged by firm global prices, industry body Cotton Australia said on Tuesday.

Copper hovers near $US8400, China data supports

01 May 2012 |

Copper steadied near $US8400 a tonne on Tuesday as brisk manufacturing data in top consumer China helped counter concerns about a recession in Spain and a fragile US economy.

Gold hits 2-week high as US data weighs on US dollar

01 May 2012 |

Gold inched up to a two-week high on Tuesday, supported by weakness in the US dollar after latest data indicated the US economic recovery might be losing steam.

Brent holds above $US119 as China offsets Europe, US gloom

01 May 2012 |

Brent crude held steady above $US119 a barrel on Tuesday as Chinese manufacturing grew, providing a bright spark amid a gloomier economic outlook in the euro zone and the United States.

Crude steady near $US105 as market awaits China PMI

01 May 2012 |

US crude futures held steady near $US105 on Tuesday as the market looks ahead to data from China for signs of a rebound in its manufacturing activities.

Smooth transition, steady growth needed

01 May 2012 | Stephen Wyatt

PRINT: 01 May 2012 | PAGE 1 |

Chinese political instability poses a threat not just to commodities, but to the commodity dependent Australian economy and dollar.

Oil dips on Spain, weak US data

01 May 2012 |

Oil prices edged lower on Monday in tug-of-war trading as Spain’s fall into recession and slowing US Midwestern business activity countered supportive expectations for more Federal Reserve action.

Gold reverses early losses, ends up

01 May 2012 |

Gold prices edged up on Monday on a better technical outlook, but the precious metal finished slightly lower for April.

Snapshot: Brent crude closes down

01 May 2012 |

Brent crude oil futures ended lower on Monday, as Spain relapsed into recession and weak US economic data spurred demand worries.

Snapshot: Oil steady on US stimulus hopes

30 April 2012 |

Oil prices held steady above $US119 per barrel on Monday as the prospect of a third round of liquidity stimulus by the United States and a weaker dollar continued to support commodities despite slower economic growth around the globe.

China to export copper to LME

30 April 2012 |

Large Chinese copper smelters and trading firms will export refined copper cathodes to the London Metal Exchange warehouses over the next two months to help ease tight global supplies and trim near-record stockpiles at home.

HKEx confirms interest in LME auction

30 April 2012 |

The operator of Hong Kong stock exchange on Monday confirmed its interest in the auction process for London Metal Exchange (LME), which is estimated to be worth between £500 million ($775.86 million) and £1.5 billion.

Palm oil edges down in thin trades

30 April 2012 |

Malaysian palm oil futures edged lower on Monday as slower US growth raised fears of a weaker global economic outlook, although losses were curbed by strong palm oil export numbers and a tight global oilseed supply situation.

Crude edges down as US growth slows

30 April 2012 |

Brent crude edged lower towards $US119 per barrel on Monday as economic woes in developed economies stoked fears of lower fuel demand.

Brent edges down towards $US119

30 April 2012 |

Brent crude edged lower towards $US119 per barrel on Monday as economic woes in developed economies stoked fears of lower fuel demand, although the prospect of a third round of monetary easing by the United States limited its decline.

Gold near 2-week high on $US weakness

30 April 2012 |

Gold held near a 2-week high on Monday, with the $US under pressure from weaker-than-expected US economic data and speculation the Federal Reserve could ease policy further to boost growth.

Gold near 2-week high on $US weakness, US data

30 April 2012 |

Gold held near a 2-week high on Monday, with the $US under pressure from lower-than-expected US GDP growth and speculation the Federal Reserve may ease policy further.

Strange indeed: bad news is good news

30 April 2012 | Stephen Wyatt

PRINT: 30 April 2012 | PAGE 32 | Strange days indeed: bad news is good news

Wyatt | Commodities are rallying. Investors are pinning hopes on another massive injection of liquidity by the world’s central banks.

China takes a global gamble on yuan

30 April 2012 | Yu Yongding

PRINT: 30 April 2012 | PAGE 13 | China takes a global gamble on yuan

After the Chinese government launched its yuan trade settlement scheme in 2009, efforts to internationalise the currency have made impressive headway.

Oil closes flat in tug of war trading

28 April 2012 |

Oil prices were little changed on Friday in very light, tug-of-war trading, as concerns about economic growth were countered by hopes for additional easing by the Federal Reserve.

Copper rises for second straight week

28 April 2012 |

Copper rallied to its highest level in three weeks on Friday, with a weak dollar and growing signs of supply-side tightness helping it extend a strong recovery from Monday’s near 2-per cent plunge.

Gold posts biggest weekly rise since late Feb

28 April 2012 |

Gold rose for a fourth consecutive session on Friday and posted its biggest weekly gain since late February, on disappointing US growth and European debt jitters.

Biggest one-day US corn sale since ‘91

28 April 2012 |

The US Department of Agriculture on Friday confirmed the largest one-day sale of US corn since 1991 totaling 1.56 million tonnes, with grain traders saying that the bulk of it was bound for China.

ShFE to cut some fees from June 1

27 April 2012 |

Shanghai Futures Exchange (ShFE) said it will cut trading commission for various contracts from June 1 in a move to support liquidity.

Gold inches down after Spain downgrade

27 April 2012 |

Gold struggled to make headway on Friday as the downgrading of Spain's credit rating fuelled concerns about the debt-stricken euro zone, and a stronger dollar after the latest easing move by the Bank of Japan added to the pressure.

Brent slips toward $US119 on euro zone fears

27 April 2012 |

Brent crude dropped on Friday to trade just above $US119 a barrel on renewed fears about the state of the debt-ravaged euro zone economies following a downgrade of Spain's credit rating.

Brent crude slips as Spain is downgraded

27 April 2012 |

Brent crude dropped on Friday to trade just above $US119 a barrel on renewed fears about the state of the debt-ravaged euro zone economies following a downgrade of Spain’s credit rating.

Argentina smooths way for oil nationalisation

27 April 2012 |

Argentina has stepped toward nationalising its biggest oil company after an expropriation bill sailed through the Senate and a lower house committee, setting the stage for final approval next week.

Gold struggles after Spain downgrade

27 April 2012 |

Gold struggled to make headway on Friday as the euro came under pressure after S&P downgraded Spain's credit rating, while investors waited for a monetary policy decision by the Bank of Japan.

Oil futures rise on US home data

27 April 2012 |

Crude oil futures rose as a solid pick-up in US home sales added to economic optimism following the US Federal Reserve’s vow on Wednesday that it was prepared to take further stimulus action.

Global wobble may unbalance Swan

27 April 2012 | Jacob Greber

PRINT: 27 April 2012 | PAGE 1 | Global wobble may undo Swan

Treasurer Wayne Swan’s target for a budget surplus faces renewed threats after disappointing economic news from the UK, Europe and the US.

Oil steady above $US119

26 April 2012 |

Oil inched above $US119 a barrel on Thursday, as optimism over a recovery in the US economy offset the impact of rising global supplies.

Gold rebounds as $US slips to 3-week low

26 April 2012 |

Gold prices rose towards $US1650 an ounce in Europe on Thursday as the US dollar sank to a three-week low against the euro, coming under pressure after the Federal Reserve opted to keep US interest rates at rock bottom.