| The worst may be over for commodities after the steepest rout since at least 1956. Gold rose above $900 an ounce, extending a rally. Platinum and copper also gained. Cosan SA Industria & Comercio said it will consider using shares to buy ''large'' rivals. Cotton gained the most since June while corn, soybeans and wheat climbed.
GENERAL COMMODITIES NEWS
Commodities Bottom as Speculators Vanish, U.S. Plan Spurs Demand
The worst may be over for commodities after the steepest rout since at least 1956 drove out speculators and the U.S. government unveiled a plan to end the worst credit-market seizure since the Great Depression.
Dow Chemical's Liveris Calls for 'Pro-Industrial' U.S. Policy
Dow Chemical Co. Chief Executive Officer Andrew Liveris said the U.S. needs to revitalize its industrial sector by reducing taxes and other corporate costs and boosting output of conventional and alternative energy.
Verso Falls After Merrill Lynch Says Magazine Demand Waning
Verso Paper Corp., North America's second-largest maker of coated paper, fell the most in more than four months in New York trading after Merrill Lynch & Co. said demand from magazine publishers is weaker than expected.
PRECIOUS METALS, GEMS
Gold Futures Extend Gains on Demand for Haven; Silver Advances
Gold rose above $900 an ounce, extending a rally after its biggest weekly gain in almost nine years, as investors shifted assets into precious metals as a haven from market turmoil. Gold rose $44.30, or 5.1 percent, to $909 an ounce in New York. Silver rose 97.5 cents, or 7.8 percent, to $13.45 an ounce.
Platinum Jumps Most Since 2000 as Dollar Drop Adds Hedge Demand
Platinum climbed the most in eight years as the dollar took its biggest drop against the euro since January 2001, spurring demand for the precious metal as an alternative to the U.S. currency. Platinum rose $88.80, or 7.7 percent, to $1,235.80 an ounce in New York. Palladium climbed $18.80, or 7.9 percent, to $255.75 an ounce.
Ecuador Has Revoked 1,664 Mining Concessions, Government Says
Ecuador, which halted most mine operations in April, has revoked at least 1,664 mining concessions since the ban, Mining Undersecretary Jose Serrano said.
INDUSTRIAL METALS, MINING
Paranapanema Agrees to Sell Tin-Mining Unit, Smelter to Minsur
Paranapanema SA, a Brazilian metals producer, will sell a tin-mining unit and smelter to Serra da Madeira Participacoes Ltda. for 850 million reais ($471 million).
Copper Gains on Speculation U.S. Treasury Plan Will Spur Demand
Copper rose to a two-week high on speculation that a $700 billion plan to help U.S. financial companies will revive growth and spur demand for metals. Copper gained 7.85 cents, or 2.5 percent, to $3.255 a pound in New York.
Vale, BHP Iron Outlook Dimmed by Financial Crisis, Analysts Say
Cia. Vale do Rio Doce, BHP Billiton Ltd. and Rio Tinto Plc, the world's top iron-ore producers, may win smaller-than-expected price increases next year as the global credit crisis prompts steelmakers to cut output, analysts said.
SOFT COMMODITIES
Cosan Says It Will Consider Using Shares to Buy 'Large' Rival
Cosan SA Industria & Comercio, the world's biggest sugar- cane processor, said it will consider using shares to buy ''large'' rivals as rising costs and credit-market turmoil place competitors in a ''precarious'' situation.
Sugar Gains as Energy Costs, Commodities Soar, Dollar Tumbles
Sugar closed at the highest price in more than six months as energy costs soared and the dollar slumped, sparking the biggest one-day commodity rally ever. Raw-sugar futures gained 0.62 cent, or 4.5 percent, to 14.26 cents in New York.
Cotton Rises Most Since June as Commodities Gain on Dollar Drop
Cotton rose the most since June in New York as the weaker U.S. dollar made commodities cheaper for buyers holding other currencies. Cotton rose 1.87 cents, or 3 percent, to 64.39 cents a pound.
Cocoa Rises to 3-Week High as Dollar Weakens, Commodities Gain
Cocoa reached the highest in three weeks amid a commodity rally spurred by the sliding dollar and on speculation that disease may harm West African crops. Cocoa climbed $36, or 1.3 percent, to $2,726 a metric ton in New York.
Coffee Rises as Dollar's Plunge Triggers Rally in Raw Materials
Coffee rose the most in almost four weeks as the dollar's plunge triggered the biggest commodity jump since April 2006. Arabica coffee rose 3.5 cents, or 2.6 percent, to $1.366 a pound in New York.
Orange Juice Rises Most in 2 Weeks as Dollar Falls, Storm Looms
Orange juice rose the most in two weeks as a weaker dollar made commodities cheaper for buyers holding other currencies and on concern a storm over Puerto Rico may threaten citrus groves in Florida. Orange-juice futures rose 3.05 cents, or 3.4 percent, to 92.95 cents a pound in New York.
AGRICULTURAL COMMODITIES
Corn, Soybeans Rise as U.S. Bailout Plan May Spur Inflation
Corn rose to the highest in almost a week and soybeans jumped the most in a month on speculation that a $700 billion U.S. plan to help lenders will widen the country's budget gap, weaken the dollar and increase commodity demand. Corn jumped 16.25 cents, or 3 percent, to $5.585 a bushel in Chicago. Soybeans rose 61.5 cents, or 5.4 percent, to $12.05 a bushel.
Wheat Gains on Speculation Dollar's Drop to Boost Commodities
Wheat rose to a two-week high as the dollar tumbled, spurring the biggest one-day jump ever in raw-material prices. Wheat rose 19.75 cents, or 2.8 percent, to $7.3775 a bushel in Chicago.
U.S. Corn, Soybeans Crops Immature, Vulnerable to Early Frost
U.S. corn and soybeans are well behind normal maturity rates after cool, wet weather early in the summer, leaving the nation's two biggest crops vulnerable to frost.
Meat, Fresh-Produce Costs Rising More Than Forecast, USDA Says
Meat and fresh-produce prices are rising more than forecast a month ago as higher expenses move down the food chain, fueling the biggest jump in U.S. nutrition costs since 1980, according to Department of Agriculture data.
Hogs Rise on Demand for Lower-Priced U.S. Pork; Cattle Gain
Hogs rose the most in six weeks on speculation that a sagging U.S. economy will spur demand for low-priced pork. Cattle also gained as commodities surged. Hog futures rose 1.3 cents to 67.35 cents a pound in Chicago. Cattle futures gained 0.65 cent, or 0.6 percent, to $1.039 a pound.
Pork-Belly Supply Rises 49% From Year Earlier; Beef Total Drops
The amount of pork bellies stored in U.S. warehouses rose 49 percent on Aug. 31 from a year earlier, according to a government report.
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