KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives closed higher yesterday spurred by buying interest in the commodity.
Phillip Futures derivative product specialist Wong Teck Weng said the local market was also boosted by the fall in the ringgit to the US dollar, thus attracting international buyers.
Meanwhile, November 2013 gained RM39 to RM2,431, December 2013 firmed RM38 to RM2,437, January 2014 rose RM36 to RM2,437 and February 2014 added RM35 to RM2,438 a tonne.
Volume eased to 25,240 lots from 28,174 lots while open interest fell to 179,845 contracts from 184,141 previously.
On the physical market, November South appreciated by RM30 to close at RM2,430 a tonne.OILLONDON:
United States crude fell more than US$1 (US$1.00 = RM3.23) to below US$100 yesterday on pressure from healthy supply there.
Brent crude futures for December delivery slipped by 53 cents to US$109.41 by 1228GMT. Last week, the contract lost 1.2 per cent, its first weekly decline in three.
US crude oil futures for November delivery fell by US$1.20 to US$99.61, after rising as high as US$100.95. The contract fell below US$100 for the first time since July 3.
The premium of Brent crude to US crude at around US$9.50 as North American crude is pressured by rising shale oil production.RUBBERKUALA LUMPUR:
Local rubber prices closed mostly lower yesterday due to the weakening of the ringgit against the US dollar, dealers said.
However, the rubber prices in the local market opened slightly higher yesterday compared with last Friday's closing prices, said a dealer.
At noon, the Malaysian Rubber Board's official physical price for SMR 20 fell two sen to 740.5 sen a kg, while latex-in-bulk shed half-a-sen to 534 sen.
The unofficial closing price for SMR 20 gained 3.5 sen to 743.5 sen a kg, while latex-in-bulk shed half-a-sen to 534 sen a kg.GOLDLONDON:
Gold steadied yesterday as a rally sparked by expectations that the US Federal Reserve will postpone tapering its monetary stimulus programme ran out of steam.
Spot gold traded flat at US$1,315.94 at 1255GMT, while US gold futures for December delivery were up US$2.30 at US$1,316.90 an ounce.
Spot prices had rebounded from a three-month low of US$1,251.66 an ounce.
Among other precious metals, spot silver shed 0.8 per cent to US$22.06.
Spot platinum rose 0.2 per cent at US$1,433.99, while spot palladium added 0.4 per cent at US$741.50.TINKUALA LUMPUR:
The tin price on the Kuala Lumpur Tin Market (KLTM) closed unchanged at US$22,850 a tonne yesterday on sellers' reserve, dealers said.
A dealer said the price did not also reflect the lower London Metal Exchange (LME) which slid US$40 to US$22,705 a tonne.
"Today's KLTM price was supported by scattered buying," he added.
At the opening bell, bids stood at 35 tonnes, while sellers offered 30 tonnes.
Turnover fell to 30 tonnes from 60 tonnes on Friday, with the majority participation from the Japanese, followed by European and local buyers.
The premium between the KLTM and the LME widened to US$545 a tonne from Friday's US$505 a tonne. - Agencies