Commodities News and Market Data



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Sugar suffers as India raises output estimate
Sugar prices endure another pounding after estimates for India's production this season were revised higher

Queensland picks banks for A$7bn rail IPO
The Queensland state government has appointed five banks to run a A$7bn share float of Queensland Rail's coal and freight arm, expected to be Australia's biggest listing this year

Palm oil futures to be launched in Chicago
CME Group, the US derivatives marketplace, is to launch a US dollar-denominated, cash-settled crude palm oil futures contract on May 23

New money inflow set to make records
Palladium prices hit a two-year high but crude oil faltered after making early gains while gold moved lower as the dollar strengthened

Oil futures turn upside down
As the market flips even further an inverted price pattern is emerging in which we enter a world in which oil demand catches up with supply

BHP moves coking coal to short terms
Largest miner's decision could signal end of benckmarking prices

Shell and PetroChina offer to buy Arrow
Royal Dutch Shell and PetroChina move to take a lead role in Australia's burgeoning coal-bed methane gas sector after making a joint offer for Brisbane-based Arrow Energy

Nikkei jumps to six-week closing high
Asian stocks put in strong performances yesterday as investors responded to Friday's encouraging US employment report and a subsequent rally on Wall Street

Steelmaker sets the bar higher for coking coal
The latest contract marks a break with decades of tradition under which they were agreed on an annual basis

Glencore pledge to sell $1bn in assets
Glencore, the Swiss-based commodities trader, pledges to sell at least $1bn in assets over the next six months in order to placate concerns over the company's decision to spend about $2.5bn repurchasing a Colombian coalmine

There's money in stockpicking hills
It is a fair bet that fund managers will soon pay a lot more attention to selecting shares, as overlooked assets provide mover bargains

Gold
The US commodities markets regulator is to hold what should prove to be one of its more colourful hearings to address the gripes of an enthusiastic group of precious metals owners

Manila adds to pressure on sugar prices
Market uncertainty extends correction while oil retreats towards $80 a barrel and base metals fall

Energy prices rise but sugar stays volatile
Crude pushed above the $81 a barrel mark on Wednesday, brushing off a big jump in US stocks but sugar remained under pressure

Citi beefs up commodities business
Citigroup is planning a hiring spree in commodities over three years, boosting the number of traders and bankers by 40 per cent