KUALA LUMPUR: Crude palm oil futures contract on Bursa Malaysia Derivatives closed broadly higher for the second consecutive day, lifted by strong demand.
Phillip Futures Sdn Bhd derivative product specialist David Ng said the local market saw interest in anticipation of continuous demand from China.
He said the forecast of rain in several parts of Malaysia over the next week, which may hamper harvesting and curb output, also sparked demand.
Spot month November 2013 climbed RM47 to RM2,527 a tonne, December 2013 expanded RM36 to RM2,507, January 2014 increased RM35 to RM2,498 and February 2014 improved RM36 to RM2,495.OILLONDON:
Brent crude oil steadied at around US$109 (US$1.00 = RM3.16) a barrel yesterday, holding on to most of its recent gains after reports of a sharp drop in Libyan oil exports rekindled worries over global supply.
Libya's crude oil exports have dropped to around 90,000 barrels per day, less than 10 per cent of capacity.
Brent futures for December fell by US$1.06 to a low of US$108.55 a barrel earlier in the day before recovering to around US$109.00 by 1230GMT. The contract rose by US$2.68 on Monday.
US crude for December was down 50 cents at US$98.18 a barrel.RUBBERKUALA LUMPUR:
Malaysian rubber prices closed slightly higher yesterday supported by mild buying interest.
The positive performance seen in market trendsetter and Tokyo Commodity Exchange also influenced the local market to trade higher.
A dealer said the stronger ringgit against the US dollar helped to attract buying interest among foreign buyers.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 was 1.5 sen better at 722.5 sen a kg, while latex-in-bulk was unchanged at 525 sen a kg.
The unofficial closing price for tyre-grade SMR 20 rose 2.5 sen to 724 sen a kg. GOLDLONDON:
Gold edged lower yesterday as the dollar recovered, retreating from a five-week high as investors started to factor in expectations that the United States Federal Reserve will maintain its stimulus measures into early 2014.
Spot gold was down 0.4 per cent to US$1,346.29 an ounce by 1250GMT. It hit its highest since September 20 at US$1,361.60 in the previous session.
US gold futures for December delivery were down by US$6.40 an ounce at US$1,345.80.
Spot silver fell 0.2 per cent to US$22.40 an ounce. Spot platinum slipped 0.6 per cent at US$1,461.49 an ounce.TINKUALA LUMPUR:
The tin price on the Kuala Lumpur Tin Market (KLTM) closed unchanged at Monday's settlement price of US$23,100 per tonne, a dealer said.
The performance of the local market was also in contrast with the downtrend in the metal price on the London Metal Exchange (LME), which declined by US$30 to US$23,175 a tonne.
"Scattered buying by foreign buyers at the opening level helped cushion the day's losses," the dealer told Bernama.
On the local front, bids stood at 46 tonnes, while offers amounted to 41 tonnes.
Turnover was slightly higher at 41 tonnes from 40 tonnes yesterday, with 20 European, 18 Japanese and three local buyers, accounting for the bulk of yesterday trade.
The premium between the KLTM and LME widened to US$325 per tonne from US$295 per tonne on Monday. - Agencies