Archive for February 15th, 2010
Copper Goes Up on Growing Demand; Wheat Falls
Copper rose in London on outlook for increasing demand in Japan, the fourth biggest buyer of the metal in the world. Japan’s gross domestic product grew 4.6 percent in the fourth quarter. Imports of the metal in China declined as much as 546,000 metric tons. Yet analysts say that this decline can be more than offset by rising global demand.
Wheat futures fell in Paris on speculation that rising global stockpiles will decrease prices. The U.S. Department of Agriculture reported that global wheat stockpiles will increase from 164 million metric tons a year earlier to 195.9 million tons by the end of May as supply exceeds demand for a second year. Prices may yet go up with farmers’ reluctance to sell at current prices and good European Union exports. March delivery for milling wheat fell 0.4 percent to 125.25 euros ($170.35) per metric ton today on NYSE Liffe.
Commodity Prices — February 15th 2010
Latest commodity prices (ICE, NYMEX, CME) as of 18:11 GMT:
Oil (Brent) — $72.46
Gold — $1,100.43
Silver — $15.54
Palladium — $418.50
Platinum — $1,510.90
Copper — $6,880.00
Aluminum — $2,065.00
Nickel — $19,339.00
Zinc — $2,200.00
Cocoa — $3.103.00
Sugar — $26.33
Corn — $373.25
Soybean — $954.00
