Commodities

Slow start

Japan market reports first LNG forward contract trade

TOKYO -- The first forward contract for liquefied natural gas changed hands Friday on a Japanese over-the-counter commodities exchange created roughly 11 months ago. A nondeliverable forward contract for September delivery of about 5,000 tons, th...

  • Petrochemical glut

    Propylene price falls on weak demand, excessive output in China

    TOKYO -- The Asian price of a key petrochemical material, propylene, has slipped amid tepid demand and overproduction in China. The East Asian spot price of the main feedstock for polypropylene stood at around $880 a ton, down 16% from a recent h...

  • Commodities eye

    Sun setting on gold

    Gold has lost its sheen recently. Improving macroeconomic fundamentals and persistently low inflation are not aiding the precious metal's cause. In Asia, China and India are unlikely to help pick up the slack despite consistently slumping prices. Eve...

  • Strong dollar reverberations

    Speculators cut their gold, oil net long positions

    TOKYO -- Investment funds and other speculative investors are pulling out of the commodity market as the strong dollar has made commodities more expensive and concern grows over China's economic slowdown. In the U.S. commodities market, speculato...

  • Market sea change

    Commodity prices tumble as decadelong supercycle ends

    TOKYO -- After a decade on the rise, commodity prices are entering what will likely be a long correction phase. Gold, oil and other commodities are coming under severe selling pressure due to speculation about a U.S. rate hike, the stronger dolla...

  • China slides again, Europe follows

    LONDON (Reuters) -- European stocks and major commodity prices fell hard on Monday as concerns over China dominated financial markets in the wake of the biggest drop in Shanghai shares in eight years. The dollar was weak ahead of the week's main ...

  • Metal meltdown

    Gold markets trip on Fed news, stay down amid Chinese selloffs

    TOKYO -- World gold markets tumbled sharply this week on news of vastly smaller than expected Chinese central bank holdings of the precious metal and growing prospects of a U.S. interest rate hike this year. The benchmark New York gold futures pr...

  • After the deal

    Iran getting ready to export more oil

    DUBAI, United Arab Emirates -- Iran is preparing to release its crude oil reserves into the international market as the West lifts economic sanctions, a move seen putting downward pressure on oil prices. Iranian oil tankers are loaded with around...

  • Chain reaction

    Iran sanctions relief to deepen oil glut

    TOKYO -- The deal between Iran and a U.S.-led group of six world powers may expand the global oil glut over the long term. The arrangement, finalized earlier this month, places a set of restrictions on Tehran's nuclear program in exchange for lif...

  • Oil prices dip below $50 on ample supply, strong dollar

    NEW YORK (Reuters) -- Oil futures fell on Monday and U.S. crude slipped below $50 a barrel intraday as ample supply, the prospect of more Iranian crude for export and a strengthening dollar combined to pressure prices. U.S. refined-products futur...

  • Gold plunges to 5-year lows after early Asia rout

    NEW YORK/LONDON (Reuters) -- Gold prices plunged more than 4 percent to five-year lows on Monday as a sudden bout of selling across Shanghai and New York markets during the illiquid early Asian trading hours triggered a mini flash crash, deepening bu...

  • Commodities eye

    Rio Tinto cranks up Mongolia mine as copper plummets

    BANGKOK -- Mining giant Rio Tinto finally got some long-sought relief in May on one of its most adventurous and expensive projects, the $10 billion-plus Oyu Tolgoi copper and gold mine in Mongolia's Gobi Desert. Faced with a choice of scrapping t...

  • Cautious China

    Asian LNG spot prices tumble 30%

    TOKYO -- Spot prices for liquefied natural gas in Asia have been sluggish, tumbling 30% on the year to around $7 per million British thermal units. As China remains cautious about LNG purchases due to decreased demand and new LNG projects have st...

  • Commodities fall

    Chinese oversupply hurting steel, chemical prices

    TOKYO -- Chinese overproduction is driving down international prices of such materials as steel, aluminum and textiles and starting to erode the profitability of Japanese exports. China produced 820 million tons of crude steel in 2014, roughly ha...

  • Still slumping

    LCD panel prices down 10% since start of year

    TOKYO -- Sluggish sales of consumer electronics are pushing down the price of LCD panels used in them, making it difficult for panel makers to turn a profit in some product segments. The price of a 32-inch open cell LCD panel -- semifinished prod...

  • Iran to return to oil market with maximum capacity -Shana

    DUBAI (Reuters) -- Iran will return to the global oil market with maximum capacity once the sanctions against the country are lifted following Iran's nuclear deal with world powers, a deputy oil minister was quoted as saying on Tuesday. Iran view...

  • Oil prices tumble as Iran, global powers reach nuclear deal

    LONDON (Reuters) -- Oil prices tumbled more than $1 on Tuesday after Iran and six global powers reached a landmark nuclear deal that would see an easing of sanctions against Tehran and a gradual increase in its oil exports. The agreement, which c...

  • Palm oil market

    Malaysian heavyweights plant seeds of growth abroad

    JAKARTA/KUALA LUMPUR -- With commodity prices sagging, Malaysian palm oil producers are taking a two-pronged approach to expand earnings: add more plantations to prepare for demand when prices recover and increase downstream business. Land satura...

  • Gaining agility, clout

    A new day in commodities trading

    TOKYO -- State-run trading houses from emerging nations are making bulk purchases of crude oil and other commodities, going on acquisition sprees and poaching talent. Their goal is to gain agility and clout in international commodities markets. ...

  • Shanghai stock link

    Chinese hedge funds warp copper market

    TOKYO -- Though falling copper prices in London owe mainly to sluggish demand in China, the largest user of the metal, Chinese hedge funds creating correlations between commodity and stock prices have been playing a much larger role in the market. ...