Copper Demand Rises, Here’s Why
Copper had its biggest rise in more
than a week following data released by the International Copper Group which
showed demand rising in China, India and Russia. Between January and
May 2005 demand rose by 8.8% in China, 12%
in India and 17% in Russia, while output fell by 165,000 tons.
Crude oil was little changed despite the suspension of exports
from Southern Iraq due to a power failure. All Iraq exports from the Persian
Gulf have been halted indefinitely. Iraq exports 1.61 Mln barrels per day and
stands to lose approximately $100 Mln for each day that exports are cancelled.
Reuters/Jefferies CRB Index Movers
| Commodity (symbol) |
Exchange (month) |
Price | Price Change | % Change |
| Corn (C) | CBOT (Dec 05) | 226.00 | +2.50 | +1.12 |
| Soybeans (S) | CBOT (Nov 05) | 617.25 | +9.75 | +1.60 |
| Wheat (W) | CBOT (Dec 05) | 336.75 | -1.50 |
-0.44 |
| Live Cattle (LC) | CME (Oct 05) | 81.80 | -0.30 |
-0.37 |
| Lean Hogs (LH) | CME (Oct 05) | 62.42 | +0.27 | +0.44 |
| Platinum (PL) | COMEX (Oct 05) | 893.10 | +3.80 | +0.43 |
| Gold (GC) | COMEX (Dec 05) | 443.00 | +0.80 | +0.18 |
| Silver (SI) | COMEX (Sep 05) | 706.00 | +5.20 | +0.74 |
| Copper (HG) | COMEX (Dec 05) | 164.10 | +2.90 | +1.80 |
| Cocoa (CC) | CSCE (Dec 05) | 1413.00 | +20.00 | +1.44 |
| Coffee (KC) | CSCE (Dec 05) | 100.70 | +0.25 | +0.25 |
| Sugar #11 (SB) | CSCE (Oct 05) | 9.60 | -0.07 |
-0.72 |
| Cotton (CT) | NYCE (Dec 05) | 48.86 | +0.30 | +0.62 |
| Orange Juice (JO) | NYCE (Nov 05) | 91.25 | -1.45 |
-1.56 |
| Crude Oil (CL) | NYMEX (Oct 05) | 65.65 | -0.14 |
-0.21 |
| Heating Oil (HO) | NYMEX (Oct 05) | 184.89 | -0.72 |
-0.39 |
| Natural Gas (NG) | NYMEX (Oct 05) | 9.61 | +0.45 | +4.95 |
Economic News
No economic data released today.
Ashton Dorkins