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CPO futures ease as investors cut positions
by hlk Fri 29 Jul 2011, 08:28
CPO FUTURES
CRUDE palm oil futures on Bursa Malaysia Derivatives closed lower yesterday as concerns over the global debt crisis prompted investors to reduce positions, dealers said.
August 2011 and September 2011 fell RM11 each to RM3,119 and RM3,122 a tonne respectively while October 2011 fell RM14 to RM3,116 and November 2011 slid RM15 to RM3,117.
Turnover slipped to 17,833 lots from 18,512 lots on Wednesday while open interest narrowed to 131,812 contracts from 132,527 previously.
On the physical market, August South was RM10 lower at RM3,150 a tonne.
OIL
LONDON: Brent oil rose above US$118 (US$1.00 = RM3.00) yesterday as a storm heading towards the Gulf of Mexico raised the threat of supply disruption and wary traders waited to see whether the US could break a political deadlock over its debt limit.
Brent gained 68 cents to US$118.11 a barrel by 1122 GMT.
US crude was up 2 cents to US$97.42. The front-month contract hit a seven-session low of US$96.51 earlier after data on Wednesday showed a rise in US inventories.
Traders said the market was rangebound and that volumes were subdued by protracted uncertainty over the health of the world’s biggest economy and top oil user.
RUBBER
RUBBER prices closed mixed yesterday amid lack of buying interest and concern over the health of the global economy, dealers said.
The market was bearish at its close in line with falling futures prices on the Tokyo Commodity Exchange and unfriendly news from the eurozone.
At noon, the Malaysian Rubber Board’s official physical price for the SMR 20 rose ½ sen to 1,385.5 sen a kg while latex-in-bulk was up 1 sen at 890.5 sen.
The unofficial closing price for tyre-grade SMR 20 fell 9.5 sen to 1,383 sen while latex-in-bulk slipped 7 sen to 887 sen a kg.
TIN
THE Kuala Lumpur Tin Market (KLTM) closed higher yesterday in line with the higher price on the London Metal Exchange (LME), dealers said.
The price on KLTM rose by US$350 to US$28,730 per tonne.
On the LME, it rose by US$150 to US$28,750 per tonne.
At the opening bell on the KLTM, bids were made for 140 tonnes while offers were at 31 tonnes.
Turnover fell to 40 tonnes from 57 tonnes on Wednesday with participation from Japanese, local and European traders.
The premium between the KLTM and LME widened to US$385 per tonne from US$185 on Wednesday. - Agencies
CRUDE palm oil futures on Bursa Malaysia Derivatives closed lower yesterday as concerns over the global debt crisis prompted investors to reduce positions, dealers said.
August 2011 and September 2011 fell RM11 each to RM3,119 and RM3,122 a tonne respectively while October 2011 fell RM14 to RM3,116 and November 2011 slid RM15 to RM3,117.
Turnover slipped to 17,833 lots from 18,512 lots on Wednesday while open interest narrowed to 131,812 contracts from 132,527 previously.
On the physical market, August South was RM10 lower at RM3,150 a tonne.
OIL
LONDON: Brent oil rose above US$118 (US$1.00 = RM3.00) yesterday as a storm heading towards the Gulf of Mexico raised the threat of supply disruption and wary traders waited to see whether the US could break a political deadlock over its debt limit.
Brent gained 68 cents to US$118.11 a barrel by 1122 GMT.
US crude was up 2 cents to US$97.42. The front-month contract hit a seven-session low of US$96.51 earlier after data on Wednesday showed a rise in US inventories.
Traders said the market was rangebound and that volumes were subdued by protracted uncertainty over the health of the world’s biggest economy and top oil user.
RUBBER
RUBBER prices closed mixed yesterday amid lack of buying interest and concern over the health of the global economy, dealers said.
The market was bearish at its close in line with falling futures prices on the Tokyo Commodity Exchange and unfriendly news from the eurozone.
At noon, the Malaysian Rubber Board’s official physical price for the SMR 20 rose ½ sen to 1,385.5 sen a kg while latex-in-bulk was up 1 sen at 890.5 sen.
The unofficial closing price for tyre-grade SMR 20 fell 9.5 sen to 1,383 sen while latex-in-bulk slipped 7 sen to 887 sen a kg.
TIN
THE Kuala Lumpur Tin Market (KLTM) closed higher yesterday in line with the higher price on the London Metal Exchange (LME), dealers said.
The price on KLTM rose by US$350 to US$28,730 per tonne.
On the LME, it rose by US$150 to US$28,750 per tonne.
At the opening bell on the KLTM, bids were made for 140 tonnes while offers were at 31 tonnes.
Turnover fell to 40 tonnes from 57 tonnes on Wednesday with participation from Japanese, local and European traders.
The premium between the KLTM and LME widened to US$385 per tonne from US$185 on Wednesday. - Agencies
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