Published: 2014/02/14
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CURRENCY CONVERTER
KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives moved higher yesterday on improved export demand and expectations of lower output this month due to the seasonal low production of oil palm trees.
A weaker ringgit and a firm Chicago Board of Trade soya oil may also push up prices.
February 2014, March 2014 and April 2014 rose RM21 to RM2,649, RM2,652 and RM2,656 a tonne, respectively, while May 2014 was up by RM23 to RM2,653 a tonne.
On the physical market, February South surged RM120 to RM2,660 a tonne.
OIL
LONDON: Brent crude oil slipped towards US$108 (US$1.00 = RM3.28) a barrel yesterday, easing for the first time in three sessions ahead of an expected dip in demand during the refinery maintenance season.
Brent crude oil futures for March delivery were down 39 cents at US$108.40 a barrel by 1224GMT, after closing up 11 cents in the previous session. The April contract was trading down 30 cents at US$108.05 a barrel.
US crude, also known as West Texas Intermediate, was 62 cents lower at US$99.75 per barrel, after hitting an almost four-month high above US$101.
RUBBER
KUALA LUMPUR: The Malaysian rubber market closed slightly higher yesterday on positive sentiment, dealers said.
A dealer said the statement by the International Rubber Consortium urging producers not to sell at unreasonably low levels was a factor.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 rose 1.5 sen to 640.5 sen a kg, while latex-in-bulk increased 46 sen to 462 sen a kg.
However, the unofficial sellers' closing price for tyre-grade SMR 20 declined one sen to 639 sen a kg, while latex-in-bulk up 1.5 sen to 462 sen a kg.
GOLD
LONDON: Gold hovered below a three-month high yesterday, struggling to break above US$1,300 as investor caution ahead of a series of United States economic figures offset support from a sharply lower dollar and weaker equity markets.
Spot gold was up 0.1 per cent at US$1,291.40 an ounce by 1238GMT, having hit a three-month high of US$1,295.91 on Wednesday.
Silver was unchanged at US$20.23 an ounce. Platinum was trading down 0.7 per cent at US$1,392.74 an ounce, while palladium lost 0.3 per cent to US$722.20 an ounce.
TIN
KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) rose by US$320 to close at US$22,350 yesterday, propped up by low offerings and buying by Japanese traders, a dealer said.
He said the metal price on the local market also moved up in tandem with the sharp increase on the London Metal Exchange (LME), which closed at US$22,500 a tonne, up by US$335.
However, he said, some buyers withdrew when the price increased sharply, adding that the higher price exacted some selling.
At the opening bell on the KLTM, bids amounted to 110 tonnes, against offers of 49 tonnes. Turnover increased to 70 tonnes from 35 tonnes on Wednesday with Japanese, European and local traders dominating trading.
The premium between the KLTM and the LME narrowed to US$245 per tonne from US$260 per tonne on Wednesday. - Agencies
Read more: Palm futures Up on export demand http://www.btimes.com.my/Current_News/BTIMES/articles/cp13/Article/#ixzz2tHqswQEi
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Friday, 14 Feb, 2014
Palm Futures Up on Export Demand
KUALA LUMPUR: Crude
palm oil futures contracts on Bursa Malaysia Derivatives moved higher
yesterday on improved export demand and expectations of lower output
this month due to the seasonal low production of oil palm trees.
A weaker ringgit and a firm Chicago Board of Trade soya oil may also push up prices.
February
2014, March 2014 and April 2014 rose RM21 to RM2,649, RM2,652 and
RM2,656 a tonne, respectively, while May 2014 was up by RM23 to RM2,653 a
tonne.
Turnover rose to 37,896 lots from 36,895 lots while open interest gained 234,528 contracts from 227,333 contracts.
On the physical market, February South surged RM120 to RM2,660 a tonne.
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