Commodity News
Metals & Mining Commodity News > WGC & ICBC to promote China's gold market
beijing, 1 April 2010
World Gold Council (“WGC”) and Industrial and Commercial Bank of China (“ICBC”) have signed a memorandum of understanding (MOU) for strategic cooperation within China’s gold market. This agreement will enhance the exchange of market information between WGC and ICBC to promote domestic demand for gold, encourage investment into China’s gold market, as well as jointly develop and market new gold investment products within the country.
Power & Energy Commodity News > Oil surges on optimism over global manufacturing
Source: Financial Times, 1st April 2010
Commodities prices surged on Thursday, with oil hitting a fresh 18-month high of $85 a barrel, and copper and iron ore posting multi-month peaks bolstered by signs of strong growth in manufacturing across the world, particularly in China.
Environmental Markets & Commodities News > TSE & TOCOM establish Emissions Trading Exchange company
Tokyo, 1 April 2010
Tokyo Stock Exchange Group, Inc. (TSE Group) and Tokyo Commodity Exchange, Inc. (TOCOM) announced today that they created a joint-company in order to prepare for the establishment of an emissions trading exchange based on the Memorandum of Understanding signed by both parties on October 29, 2009.
Read more: TSE & TOCOM establish Emissions Trading Exchange company
Metals & Mining Commodity News > EU returns to steel trade surplus as imports drop 48%
London, 1 April 2010
The European Union (27 countries) exported 30.1m tonnes of steel mill products (semis, long & flat products, tubes) to third countries in 2009. This was only 11% down on the 2008 level while global steel trade fell by 21%, according to forecasts by the Iron & Steel Statistics Bureau. The EU27 was the world’s second largest steel exporter in 2009, after Japan and ahead of Russia, Ukraine and China.Read more: EU returns to steel trade surplus as imports drop 48%
Power & Energy Commodity News > IEF members target oil volatility, plan annual meet
London, 1 April 2010
Oil producers and consumers plan to meet annually to discuss the outlook for energy markets as part of efforts to tackle price volatility dangerous to the economies of both groups.Read more: IEF members target oil volatility, plan annual meet
Power & Energy Commodity News > Iraq oil output goals unlikely to be met: report
Toronto, 31 March 2010
Iraq's ambitious plans to boost crude oil production to as much as 12 million barrels per day in coming years is not likely to be met due to a myriad of challenges, IHS Cambridge Energy Research Associates said in a report on Wednesday.Power & Energy Commodity News > OPEC adding to capacity amid concern supply will dampen oil prices
Singapore, 1 April 2010
OPEC member countries have resumed work on 35 new projects that will increase production capacity by 5 million barrels a day, adding to concerns that the increasing world capacity will dampen oil prices.Read more: OPEC adding to capacity amid concern supply will dampen oil prices
Commodity News > CFTC approves final rules for cleared OTC derivatives
Washington, 31 March 2010
The Commodity Futures Trading Commission (CFTC) approved final rules (Final Rules) that enhance certainty regarding protections under the Bankruptcy Code and CFTC regulation Part 190 with respect to Over-the-Counter (OTC) derivatives (and related collateral) that customers clear through a futures commission merchant (FCM) on or subject to the rules of a derivatives clearing organization registered with the CFTC (cleared OTC derivatives).Read more: CFTC approves final rules for cleared OTC derivatives
Metals & Mining Commodity News > Oyu Tolgoi Investment Agreement Finalised
Singapore, 31 march 2010
Finalisation of the landmark Investment Agreement between the Mongolian Government, Rio Tinto and Oyu Tolgoi LLC, the Mongolian subsidiary of Ivanhoe Mines Ltd. Rio Tinto announces satisfaction of Conditions Precedent to the Investment Agreement with the Government of Mongolia for the development of Oyu Tolgoi.Commodity News > Grain dips on bumper US planting forecast
Source: Financial Times, 31st March 2010
Agricultural commodities prices fell across the board on Wednesday after the US government said the country's farmers planned to seed a huge soyabean and corn crop this year.
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