KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday on profit-taking by speculators.
Interband Group Senior Palm Oil Trader Jim Teh said recent gains in the local market attracted some selling, despite positive export data by the Malaysian Palm Oil Board (MPOB) for September 2013.
Malaysia's palm oil stocks in September edged up to 1.78 million tonnes, a smaller-than-expected rise as output of palm oil grew slower than anticipated and exports remained healthy, according to data released by MPOB yesterday.
Spot month October 2013 was down RM10 to RM2,380 a tonne, November 2013 fell RM10 to RM2,379, December 2013 dropped RM11 to RM2,380, and January 2014 declined RM10 to RM2,384.OILLONDON:
Brent crude oil fell below US$111 (US$1.00 = RM3.23) yesterday, pressured by an improved supply picture, which offset optimism for an end to the United States government shutdown.
The supply outlook improved as the IEA Energy Agency said non-Opec supply will rise by an average of 1.7 million bpd in 2014.
Brent oil was 77 cents lower at US$111.03 per barrel at 1415GMT. The benchmark was still up roughly two per cent for the week and set for its biggest weekly gain in six weeks.
US crude was down US$1.75 at US$101.26 a barrel, on track for its fourth weekly decline in five weeks.RUBBERKUALA LUMPUR:
The Malaysian rubber prices ended higher yesterday in tandem with the Tokyo rubber futures market as progress in United States debt talks encouraged buying.
A dealer said the market was firmer as concerns had eased.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 rose 0.5 sen to close at 747.50 sen a kg while latex-in-bulk gained 1.5 sen to 536.50 sen a kg.
The unofficial closing price for tyre-grade SMR 20 increased 11 sen to 749.50 sen a kg while latex-in-bulk decreased 1.5 sen to 532 sen a kg.
LONDON: Gold was on course for a second weekly decline yesterday as signs the United States budget impasse might be heading towards a resolution lifted the dollar and curbed the metal's safe-haven appeal.
Spot gold was steady at US$1,285.60 an ounce by 1009GMT, after dropping for three straight sessions. The metal was down 1.9 per cent on the week and headed for its sixth weekly decline in seven weeks.
Silver fell 0.6 per cent to US$21.49 an ounce yesterday. Spot platinum was little changed at US$1,381.29 an ounce.
Spot palladium rose 0.7 per cent to US$710.95 an ounce.
KUALA LUMPUR: Tin price on the Kuala Lumpur Tin Market (KLTM) closed unchanged at US$23,500 a tonne yesterday on sellers' reserve despite the lower London Metal Exchange (LME), dealers said.
A dealer said the LME was down US$90 to US$23,360 a tonne.
"Buyers were cautious and wanted to see how the LME would fare today.
"However, today's price was supported by scattered buying and low offerings," he added.
At the opening bell, bids stood at 26 tonnes, while sellers offered 22 tonnes. Turnover fell to 22 tonnes from 46 tonnes on Thursday, with the participation of European, Japanese and local buyers.
The premium between the KLTM and the LME widened to US$540 a tonne from yesterday's US$450 a tonne. - Agencies