KUALA LUMPUR: Crude palm oil futures prices closed mostly lower yesterday despite better shipment data released by two independent cargo surveyors, a dealer said.
According to Intertek Testing Services, exports of local palm oil products between September 1 to 25, rose 6.5 per cent to 1,238,312 tonnes from the 1,162,884 tonnes shipped during August 1 to 25.
October 2013 rose RM13 to RM2,324 a tonne, while November 2013 and December 2013 fell RM7 each to RM2,299 and RM2,294 respectively.
January 2014 declined RM9 to RM2,296. Volume rose to 25,376 lots from 24,678 lots yesterday, while open interest improved to 175,248 compared with 174,771 contracts previously.
On the physical market, October South rose RM10 to RM2,340 a tonne.OILLONDON:
Oil prices climbed towards US$110 (US$1.00 = RM3.26) a barrel yesterday as expectations faded that new talks over Iran's nuclear programme would bring a rapid thaw in relations with the United States.
Brent crude oil futures rose more than US$1 to reach US$109.84 at 1232GMT.
Meanwhile, US crude gained 72 cents to US$103.85, after four days of losses that drove it to seven-week lows in the previous session.
"It is higher probably because talks with Iran are not going so well," said Christopher Bellew, senior commodities and oil trader at Jefferies Bache.RUBBERKUALA LUMPUR:
Local rubber prices closed slightly lower yesterday on the back of a bearish market, a dealer said.
He said market players stayed on the sidelines, reflecting a negative sentiment in the market as scepticism rises over stimulus measures to tackle the uncertainties of the US economy.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR20 slipped 1.5 sen to 760.5 sen a kg while latex-in-bulk declined three sen to 554 sen a kg.
At 5pm, the unofficial closing price for tyre-grade SMR20 added half-a-sen to 762 sen while latex-in-bulk eased one sen to 554 sen.GOLDLONDON:
Gold was little changed yesterday, struggling to hold gains in the previous session as lack of clarity over the outlook for US economic stimulus offset concern over budget talks in Washington, that could boost the metal.
Spot gold was down 0.1 per cent at US$1,321.20 by 1211GMT. In the meantime, US gold rose US$5.40 to US$1,321.70 after a three-day decline.
In other metals, silver fell 0.4 per cent to US$21.60. Spot platinum rose 0.3 per cent to US$1,423.99 and spot palladium edged up 0.2 per cent to end the day's trading at US$718.25 an ounce.TINKUALA LUMPUR:
Tin price on the Kuala Lumpur Tin Market (KLTM) closed US$100 lower to US$22,800 a tonne yesterday, tracking the decline of the commodity's price on the London Metal Exchange (LME) Tuesday, a dealer said.
Tin price on the LME was also down by US$100 to US$22,900.
The dealer said there was lack of buyers in the market as most of the traders remained on the sidelines as they want to see the commodity's price movement on LME later yesterday.
At the opening, there were more sellers in the market than buyers, with 40 tonnes to 15 tonnes.
Turnover declined to 20 tonnes from 28 tonnes on Tuesday, with buying interest coming from mostly European, Japanese and local traders.
The premium between the KLTM and the LME was unchanged at US$370 a tonne like Tuesday. - Agencies