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12.49
Precious Metal Commodity Asset Fell, Investors Commodity Outflow
Written By mine on Minggu, 23 Oktober 2011 | 12.49
Precious metals commodity assets under management fell to $174 billion in September, when gold futures touched a record $1,923.70 an ounce, from $192 billion the previous month, according to Barclays. Industrial metals assets declined to $17.8 billion from $21.5 billion, agriculture assets slipped to $92 billion from $103 billion and energy assets were at $110 billion compared with $130 billion in August.
Money managers cut combined net-long positions across 18 U.S. commodity futures and options to 656,691 contracts in the week ended Oct. 11, from 1.272 million in the period to Aug. 30, Commodity Futures Trading Commission data show.
Raw materials rose 0.5 percent this year, heading for the weakest annual performance 2008, as Europe?s debt crisis curbed demand. While gold is up 16 percent, copper has slipped 26 percent on the London Metal Exchange. The MSCI All-Country World Index of equities declined 9.8 percent and Treasuries returned 7.8 percent, a Bank of America Corp. index shows.
?Copper could benefit most from an improvement in the financial market outlook as prices are trading a long way below fair value,? Cooper wrote. ?We also continue to favor crude oil, corn and aluminum as commodities with the most constructive medium-term fundamentals, while gold looks set to benefit from the renewed concerns over inflation and currency debasement that any cure for Europe?s ills will inevitably fuel.?
Commodity investor outflows of almost $10 billion in September were the most since at least the beginning of 2009 as prices slumped, Barclays Capital said.
The outflow was double the amount for the third quarter of 2008, when the worst global recession since World War II cut raw materials demand, the bank said in a report e-mailed today. Commodity assets under management fell to $393 billion last month from $447 billion in August. The drop includes the outflow plus price depreciation. Investments fell for consecutive quarters for the first time since 2008, Barclays said.
The Standard & Poor?s GSCI gauge of 24 commodities slid 12 percent last month, the most in almost three years, and about $5 trillion was wiped off the value of global stocks on speculation growth was slowing. Traders have cut wagers on higher prices by 48 percent since the end of August. Still, commodity prices are up 7.5 percent this month.
The outflow ?was a reflection of jittery market sentiment and investors? rather fickle mood,? New York-based analyst Suki Cooper wrote in the report. The ?contrast between bearish sentiment, but positive macro-economic and fundamental trends in many commodities suggests that if the financial market gloom does clear, a swift rebound in most commodity prices is likely.?
Money managers cut combined net-long positions across 18 U.S. commodity futures and options to 656,691 contracts in the week ended Oct. 11, from 1.272 million in the period to Aug. 30, Commodity Futures Trading Commission data show.
Raw materials rose 0.5 percent this year, heading for the weakest annual performance 2008, as Europe?s debt crisis curbed demand. While gold is up 16 percent, copper has slipped 26 percent on the London Metal Exchange. The MSCI All-Country World Index of equities declined 9.8 percent and Treasuries returned 7.8 percent, a Bank of America Corp. index shows.
?Copper could benefit most from an improvement in the financial market outlook as prices are trading a long way below fair value,? Cooper wrote. ?We also continue to favor crude oil, corn and aluminum as commodities with the most constructive medium-term fundamentals, while gold looks set to benefit from the renewed concerns over inflation and currency debasement that any cure for Europe?s ills will inevitably fuel.?
Commodity investor outflows of almost $10 billion in September were the most since at least the beginning of 2009 as prices slumped, Barclays Capital said.
The outflow was double the amount for the third quarter of 2008, when the worst global recession since World War II cut raw materials demand, the bank said in a report e-mailed today. Commodity assets under management fell to $393 billion last month from $447 billion in August. The drop includes the outflow plus price depreciation. Investments fell for consecutive quarters for the first time since 2008, Barclays said.
The Standard & Poor?s GSCI gauge of 24 commodities slid 12 percent last month, the most in almost three years, and about $5 trillion was wiped off the value of global stocks on speculation growth was slowing. Traders have cut wagers on higher prices by 48 percent since the end of August. Still, commodity prices are up 7.5 percent this month.
The outflow ?was a reflection of jittery market sentiment and investors? rather fickle mood,? New York-based analyst Suki Cooper wrote in the report. The ?contrast between bearish sentiment, but positive macro-economic and fundamental trends in many commodities suggests that if the financial market gloom does clear, a swift rebound in most commodity prices is likely.?
05.32
Global Stock Market Showing Data Commodity Prices Fall
Written By mine on Senin, 26 September 2011 | 05.32
Global stock market showing data of commodity prices fall, the US Federal Reserve warned of significant downside risks to the American economy, sparking a fierce selloff on global markets.
Sugar commodities: sugar prices, which have recently retreated on expectations that the 2011/12 season would see the first major surplus in three years, sharply accelerated losses.
"The macro picture has also caught up with the sugar market and it could be argued that the debt problem in Europe affecting bank capital and potential exposure, and the worsening economic prospects in the US are also a factor," said Sucden brokers analyst Nick Penney.
"All in all, a negative market in a negative economic backdrop. The fall has been swift as speculators and funds go into no risk mode."
By Friday on NYBOT-ICE, the price of unrefined sugar for delivery in March stood at 24.30 US cents a pound compared with 29.06 cents for the October contract a week earlier.
On LIFFE, the price of a tonne of white sugar for December plummeted to ?623.30 from ?708 the previous week.
Coffee commodity: Coffee prices fell further. By Friday on NYBOT-ICE, Arabica for delivery in December dropped to 239 US cents a pound from 262 US cents the previous week.
On LIFFE, Robusta for November declined to $2,019 a tonne from $2,043 a tonne.
Rubber commodity: Rubber prices dropped as traders remained on the sidelines in anticipation of further losses ahead owing to a weak demand outlook.
The Malaysian Rubber Board's benchmark SMR20 slipped to 443.65 US cents a kilo from 462.75 US cents the previous week.
Gold commodity: Gold prices slumped to below $1,700 an ounce, despite the precious metal's status as a safe-haven investment in times of economic turbulence.
Gold had hit a record high of $1,921.15 an ounce on September 6.
London Bullion Market, gold plunged to $1,689 an ounce from $1,794 the previous week.
Silver commodity: Silver dived to $32.90 an ounce from $39.97.
On the London Platinum and Palladium Market, platinum retreated to $1,651 an ounce from $1,798.
Palladium decreased to $659 an ounce from $732.
Oil commodity: World oil prices slumped on fears of a fresh global economic downturn which would slash global demand for energy, with New York crude diving by more than five dollars on Thursday alone.
"Oil prices have been on a very gradual downward trend since April and have been brought down by the continuous poor economic reports, from the US, eurozone and China," said Nick Campbell, an analyst at energy consultancy Inenco.
"This week, the spotlight has been on the US Federal Reserve and the G20 meeting to provide confidence to the market, and there were expectations of further monetary policy from the US and eurozone to boost economic growth.
"Unfortunately the announcements from both parties have had the opposite effect," he added.
The US Federal Reserve on Wednesday unveiled a $400-billion stimulus plan to reduce long-term interest rates but investors chose to focus on its warning about the outlook for the world's biggest economy and oil consumer.
The Fed painted a grim picture of the economy, strapped with slow growth, high unemployment and a depressed housing market.
"There are significant downside risks to the economic outlook, including strains in global financial markets," the central bank said.
The United States has yet to fully recover from the 2009 recession, which was the country's worst since the Great Depression in the 1930s.
By late Friday on London's Intercontinental Exchange, Brent North Sea crude for delivery in November retreated to $104.60 a barrel from $113.43 a week earlier.
On the New York Mercantile Exchange, West Texas Intermediate (WTI) or light sweet crude for November, dropped to $80 a barrel from $88.11.
Copper commodity: Copper prices tumbled to a 13-month low under $8,000 an ounce, extending their run lower since reaching record highs in February, as weaker Chinese manufacturing data added to global demand concerns.
Aluminium, lead, tin and zinc also hit their lowest levels for around a year, while nickel struck a near two-year trough.
On the London Metal Exchange, copper for delivery in three months struck $7,115 a tonne -- the lowest level since August, 2010.
Copper prices have slumped 30 percent since hitting a record-high $10,190 a tonne on February 15, when markets were extremely optimistic about economic recovery.
However in recent months the outlook for growth has turned extremely sour and was further dented on Thursday when data showed that manufacturing activity in commodities-hungry China contracted for a third month running in September.
The HSBC preliminary purchasing managers' index (PMI) fell to a two-month low of 49.4 in September from a final reading of 49.9 in August, the British banking giant said in a statement.
A reading above 50 indicates the sector is expanding, while a reading below 50 suggests contraction.
"On the back of the plentiful bearish news and the further rise of risk aversion, it is not surprising that metal prices have come under strong pressure," Commerzbank analyst Daniel Briesemann said on Thursday.
By late Friday on the London Metal Exchange (LME), copper for delivery in three months dived to $7,488 a tonne from $8,793 the previous week.
Three-month aluminium slid to $2,241 a tonne from $2,381.
Three-month lead dropped to $2,046 a tonne from $2,404.
Three-month tin decreased to $19,700 a tonne from $23,450.
Three-month zinc retreated to $1,968 a tonne from $2,198.
Three-month nickel fell to $18,355 a tonne from $21,700.
Cocoa commodity: Prices hit two-year lows in London, at ?1,745 a tonne.
By Friday on LIFFE, London's futures exchange, cocoa for delivery in December dropped to ?1,760 a tonne from ?1,813 the previous week.
In New York on the NYBOT-ICE, cocoa for December slid to $2,669 a tonne from $2,796.
Sugar commodities: sugar prices, which have recently retreated on expectations that the 2011/12 season would see the first major surplus in three years, sharply accelerated losses.
"The macro picture has also caught up with the sugar market and it could be argued that the debt problem in Europe affecting bank capital and potential exposure, and the worsening economic prospects in the US are also a factor," said Sucden brokers analyst Nick Penney.
"All in all, a negative market in a negative economic backdrop. The fall has been swift as speculators and funds go into no risk mode."
By Friday on NYBOT-ICE, the price of unrefined sugar for delivery in March stood at 24.30 US cents a pound compared with 29.06 cents for the October contract a week earlier.
On LIFFE, the price of a tonne of white sugar for December plummeted to ?623.30 from ?708 the previous week.
Coffee commodity: Coffee prices fell further. By Friday on NYBOT-ICE, Arabica for delivery in December dropped to 239 US cents a pound from 262 US cents the previous week.
On LIFFE, Robusta for November declined to $2,019 a tonne from $2,043 a tonne.
Rubber commodity: Rubber prices dropped as traders remained on the sidelines in anticipation of further losses ahead owing to a weak demand outlook.
The Malaysian Rubber Board's benchmark SMR20 slipped to 443.65 US cents a kilo from 462.75 US cents the previous week.
Gold commodity: Gold prices slumped to below $1,700 an ounce, despite the precious metal's status as a safe-haven investment in times of economic turbulence.
Gold had hit a record high of $1,921.15 an ounce on September 6.
London Bullion Market, gold plunged to $1,689 an ounce from $1,794 the previous week.
Silver commodity: Silver dived to $32.90 an ounce from $39.97.
On the London Platinum and Palladium Market, platinum retreated to $1,651 an ounce from $1,798.
Palladium decreased to $659 an ounce from $732.
Oil commodity: World oil prices slumped on fears of a fresh global economic downturn which would slash global demand for energy, with New York crude diving by more than five dollars on Thursday alone.
"Oil prices have been on a very gradual downward trend since April and have been brought down by the continuous poor economic reports, from the US, eurozone and China," said Nick Campbell, an analyst at energy consultancy Inenco.
"This week, the spotlight has been on the US Federal Reserve and the G20 meeting to provide confidence to the market, and there were expectations of further monetary policy from the US and eurozone to boost economic growth.
"Unfortunately the announcements from both parties have had the opposite effect," he added.
The US Federal Reserve on Wednesday unveiled a $400-billion stimulus plan to reduce long-term interest rates but investors chose to focus on its warning about the outlook for the world's biggest economy and oil consumer.
The Fed painted a grim picture of the economy, strapped with slow growth, high unemployment and a depressed housing market.
"There are significant downside risks to the economic outlook, including strains in global financial markets," the central bank said.
The United States has yet to fully recover from the 2009 recession, which was the country's worst since the Great Depression in the 1930s.
By late Friday on London's Intercontinental Exchange, Brent North Sea crude for delivery in November retreated to $104.60 a barrel from $113.43 a week earlier.
On the New York Mercantile Exchange, West Texas Intermediate (WTI) or light sweet crude for November, dropped to $80 a barrel from $88.11.
Copper commodity: Copper prices tumbled to a 13-month low under $8,000 an ounce, extending their run lower since reaching record highs in February, as weaker Chinese manufacturing data added to global demand concerns.
Aluminium, lead, tin and zinc also hit their lowest levels for around a year, while nickel struck a near two-year trough.
On the London Metal Exchange, copper for delivery in three months struck $7,115 a tonne -- the lowest level since August, 2010.
Copper prices have slumped 30 percent since hitting a record-high $10,190 a tonne on February 15, when markets were extremely optimistic about economic recovery.
However in recent months the outlook for growth has turned extremely sour and was further dented on Thursday when data showed that manufacturing activity in commodities-hungry China contracted for a third month running in September.
The HSBC preliminary purchasing managers' index (PMI) fell to a two-month low of 49.4 in September from a final reading of 49.9 in August, the British banking giant said in a statement.
A reading above 50 indicates the sector is expanding, while a reading below 50 suggests contraction.
"On the back of the plentiful bearish news and the further rise of risk aversion, it is not surprising that metal prices have come under strong pressure," Commerzbank analyst Daniel Briesemann said on Thursday.
By late Friday on the London Metal Exchange (LME), copper for delivery in three months dived to $7,488 a tonne from $8,793 the previous week.
Three-month aluminium slid to $2,241 a tonne from $2,381.
Three-month lead dropped to $2,046 a tonne from $2,404.
Three-month tin decreased to $19,700 a tonne from $23,450.
Three-month zinc retreated to $1,968 a tonne from $2,198.
Three-month nickel fell to $18,355 a tonne from $21,700.
Cocoa commodity: Prices hit two-year lows in London, at ?1,745 a tonne.
By Friday on LIFFE, London's futures exchange, cocoa for delivery in December dropped to ?1,760 a tonne from ?1,813 the previous week.
In New York on the NYBOT-ICE, cocoa for December slid to $2,669 a tonne from $2,796.
