KUALA LUMPUR: Crude palm oil futures contracts closed firmer yesterday spurred by the weakening soya prices on the Chicago Board of Trade, dealers said.
Phillip Futures derivative product specialist David Ng said CPO prices will be weighed by expectations of a rise in palm oil output this month.
Spot month October 2013 gained RM3 to RM2,363 a tonne, November 2013 rose RM10 to RM2,358 and December 2013 appreciated by RM9 to close at RM2,355 while, January 2014 stood at RM2,355 a tonne.
Volume rose to 44,037 lots from 30,848 lots while, open interest was up at 201,112 contracts from 190,294 previously.
On the physical market, October South was unchanged at RM2,380 a tonne.OILLONDON:
Brent crude fell below US$110 (US$1.00 = RM3.28) a barrel yesteday as a deal averting any imminent US attack on Syria calmed fears of a disruption to Middle East oil supplies and after output resumed at a large oilfield in Libya.
Brent crude for delivery in November fell US$1 to US$109.07 and traded around US$109.20 by 1255GMT, after touching a near-one-month low of US$108.73 in the previous session.
In the meantime, US crude for October delivery shed 60 cents to close at US$105.99, after hitting a session low of US$105.59, its weakest since September 3.RUBBERKUALA LUMPUR:
Continued weak regional sentiment coupled with the stronger ringgit spurred the local rubber market to close mostly lower yesterday, a dealer said.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR20 fell nine sen to 771.5 sen a kg while latex-in-bulk increased half-a-sen to close at 568 sen a kg.
The unofficial closing price for tyre-grade SMR20 decreased by 10.5 sen to 768 sen a kg and latex-in-bulk shed one sen to 567.5 sen a kg.GOLDLONDON:
Gold edged up yesterday as the dollar remained under pressure on prospects the US Federal Reserve will announce a reduction in its bond-buying at its two-day meeting.
Spot gold rose 0.6 per cent to US$1,320.80 by 1159GMT, after falling 1.5 per cent in the previous session to a five-week low of US$1,303.85.
In the meantime, US gold futures for December were up US$3.10 at US$1,320.90.
In other precious metals, spot silver rose 0.7 per cent to US$21.84, spot platinum rose 0.1 per cent to US$1,435.49 and spot palladium gained 0.4 per cent to close at US$703.97 an ounce.TINKUALA LUMPUR:
Tin price on the Kuala Lumpur Tin Market (KLTM) closed US$330 higher at US$22,830 a tonne yesterday amid tight supply as sellers remained reserved, a dealer said.
He said the rise in the local tin price was also in tandem with the sharp rise on the London Metal Exchange (LME), the global trendsetter for the metal.
LME tin fell US$515 to US$22,880 a tonne. At the opening bell, bids stood at 103 tonnes while sellers offered 18 tonnes.
Turnover fell to 28 tonnes from 36 tonnes on Friday with participation noted from Japanese, European and local buyers.
The local market was closed yesterday for the Malaysia Day celebration. The premium between the KLTM and the LME narrowed to US$340 a tonne from Friday's US$525 a tonne. - Agencies