Commodities

Mitsui's investments in copper, such as at this mine in Chile, have resulted in major impairment losses due to a collapse in resource prices.

Resource price crash devastates Japan's trading houses

TOKYO -- Crashing natural resource prices have ravaged the bottom lines of Japan's trading giants, causing two long-established houses to sink into the red for the first time in the postwar era.Something unheard of happened at Mitsubishi Corp. and Mi...

  • Oil rally may lack legs, some say

    TOKYO -- Crude oil futures broke above the $50-per-barrel mark Thursday in New York for the first time in roughly seven months, but some observers expect prices to lose steam now that the threshold has been reached.Oil prices have been rising as of l...

  • Tokyo, Osaka lead global survey on office price growth

    TOKYO -- Office property here appreciated the most out of 14 major world cities in the six months from October, with Osaka logging the second-biggest gain, a study by the Japan Real Estate Institute has found.Investors seeking decent returns amid sag...

  • Oil prices top $50, Asian shares struggle on China worries

    TOKYO (Reuters) -- Brent crude oil rose above $50 a barrel for the first time in nearly seven months on Thursday but Asian shares struggled to gain traction, with worries about U.S. interest rates and China's slowing economy keeping many investors on...

  • Sluggish crude prices have oil industry changing tack

    NEW DELHI -- Saudi Arabia is looking to list state-owned oil company Saudi Aramco in a move to reduce its reliance on crude oil by investing proceeds from the sale of some shares in areas with growth potential. However, the government of an oil-produ...

  • DRAM prices dip 4% since April on rising inventories

    TOKYO -- Spot prices continue to fall for personal computer DRAM, or dynamic random access memory, chips as manufacturer inventories pile up.The price of bellwether 4-gigabit DDR3 DRAM was $1.62 to $1.65 on Wednesday, down about 4% from the end of Ap...

  • Drought squeezing farm output, economies in Asia, Oceania

    JAKARTA -- Bone-dry conditions are ravaging agricultural production in parts of Asia and Oceania, stunting growth in countries where farm goods are a major economic driver.In Vietnam, in the grip of its worst dry spell in a century, rice output has p...

  • Auto demand supports higher platinum prices

    TOKYO -- Platinum prices have remained around $1,000 per troy ounce since late April as investors expect stronger demand for automotive exhaust systems and other industrial uses thanks to tighter environmental controls.Platinum futures in New York ar...

  • Commodities eye

    Rising sugar price hits businesses

    BANGKOK -- Rising sugar prices, bolstered by the parched conditions across Asia's farming heartland, are beginning to affect a range of businesses including consumer goods companies and sugar production groups.Sugar was one of the few soft commoditie...

  • Malaysia palm oil

    Near-term shipments likely to spike on export tax hike

    KUALA LUMPUR (NewsRise) -- Malaysia has raised the export tax charge on crude palm oil from June in a move that analysts say could crimp shipments in the months ahead from the world's second-largest palm oil producer after Indonesia.Exports of crude ...

  • Oil rally suggests supply worries wane, but for how long?

    A rally in U.S. crude oil prices recently has put the market on its firmest footing since the rout started in 2014, with the spread between prices for near-term delivery and future delivery narrowing, suggesting the worst of the supply glut may be ov...

  • Asian shares recover after Apple, oil boost Wall St

    TOKYO (Reuters) -- Asian shares recovered from two-month lows on Tuesday after a rebound in technology giant Apple Corp and oil price gains boosted Wall Street.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent, extending the...

  • China Molybdenum heats up on Congo mine acquisition

    HONG KONG -- China Molybdenum shares surged here Monday after the company said it would take a majority interest in a Congolese copper and cobalt mine expected to bring brisk earnings growth.Trading on the company had been suspended in Hong Kong and ...

  • Commodities eye

    Crude looks tentative on new perch in mid-$40s

    Singapore -- Crude futures touched year-to-date highs in April and held on to most of their gains entering May, despite major OPEC and non-OPEC producers gathered in the Qatari capital of Doha April 17 failing to agree on a production freeze in a las...

  • Supply outages, US output cuts buoy oil prices

    TOKYO -- Benchmark West Texas Intermediate crude has been hovering around $46 a barrel, a six-month high, as U.S. oil production cutbacks shrink the supply glut and leave markets more sensitive to supply disruptions.State-run Saudi Aramco's decision ...

  • Nippon Steel lifting H-beam prices

    TOKYO -- Nippon Steel & Sumitomo Metal will raise the May contract price of H-beam steel for the retail market by 5,000 yen ($45.75) a ton, the first increase in 28 months, owing to fast-rising raw materials costs.The increase, announced Friday, appa...

  • In times of commodities turmoil, it pays to be agile

    TOKYO -- As the prices of resources plunged, independent commodities trading houses thrived in 2015. The winners had two things in common: They were not focused on upstream concessions, and they showed a knack for adjusting their strategies to market...

  • Malaysian market wrap

    Shares, ringgit gain tracking steadying crude prices

    KUALA LUMPUR (NewsRise) -- Malaysian shares and the ringgit rose Thursday, as an unexpected decline in U.S. crude inventories lifted oil prices to new 2016 highs.Data released today showed the nation's industrial production rose 2.8% in March, suppor...

  • Obama, Australia's Turnbull discuss global steel glut

    WASHINGTON/SYDNEY (Reuters) -- U.S. President Barack Obama and Australian Prime Minister Malcolm Turnbull on Thursday discussed by telephone the global glut in steel supply, which many blame on chronic overcapacity at Chinese producers of the constru...

  • Commodities eye

    Ethylene supply to remain tight due to plant upkeep

    TOKYO -- Ethylene prices remain at high levels lately in Asian markets, nearly 40% higher than a recent low in early February.Demand for ethylene is solid, but the supply-demand conditions have tightened, with Asian ethylene producers entering their ...