KUALA LUMPUR: Crude palm oil futures ended higher in cautious trading yesterday, in tandem with a better showing on the Chicago Board of Trade.
The market was keenly awaiting the release of end-September's palm oil stocks and production data by the Malaysian Palm Oil Board on Thursday.
Spot month October 2013 gained RM11 to RM2,350, November 2013 rose RM7 to RM2,322, December 2013 increased RM13 to RM2,318 and January 2014 gained RM9 to RM2,318.
Volume increased to 26,984 lots from 21,303 lots on Friday while open interest rose to 181,330 contracts versus Friday's 176,538 contracts.
On the physical market, October South added RM10 to RM2,350 a tonne. OILLONDON:
Brent crude fell more than one per cent to below US$108 (US$1.00 = RM3.23) a barrel yesterday as oil production resumed in the Gulf of Mexico after a tropical storm, while concerns over a United States government shutdown clouded the demand outlook.
Brent fell US$1.57 to a low of US$107.89 a barrel before recovering to trade around US$108.70 by 1250GMT. The benchmark ended higher last week, snapping a three-week losing run.
US crude dropped US$1.34 to US$102.50 a barrel, but then recovered ground to trade around US$102.80. ReutersRUBBERKUALA LUMPUR:
Rubber prices closed lower yesterday on lack of demand, dealers said.
They also said this followed the negative sentiment brought on by the lower Tokyo Commodity Exchange opening prices, dealers said.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 fell one sen to 737.5 sen, while latex-in-bulk declined three sen to 534.5 sen per kg.
The unofficial closing price for tyre-grade SMR 20 gained 0.5 sen to 737 sen per kg, while latex-in-bulk shed two sen to 534 sen per kg.GOLDLONDON:
Gold rose yesterday as investors assessed the impact of a lower dollar after politicians in Washington showed no signs of making progress to resolve the budget standoff.
Spot gold rose 0.4 per cent to US$1,315.61 an ounce by 1159GMT. US gold futures for December were up US$6.10 an ounce to US$1,316.
Silver rose 0.8 per cent to US$21.82 an ounce. Spot platinum gained 0.2 per cent to US$1,382.49 an ounce after a 1.3 per cent increase on Friday.
Spot palladium lost 0.3 per cent to US$694.97 an ounce, having hit a four-week low of US$689.47 on Friday.TINKUALA LUMPUR:
The tin price on the Kuala Lumpur Tin Market (KLTM) rose sharply higher by US$1,005 to close at US$23,785 per tonne yesterday in tandem with the firmer London Metal Exchange (LME), dealers said.
The LME tin price improved US$1,265 to close at US$24,025 per tonne. "The rise on the KLTM was less than the LME due to buyers who withdrew when the price rose, while, sellers were reserved at the opening," said a dealer.
He added the market became quiet as buyers were cautious over how the LME would progress in the new week.
The price recorded on the KLTM today was a 7.5-month high from the US$24,100 posted on Feb 24. At the opening bell on the KLTM, bids stood at 150 tonnes against offers of 21 tonnes.
Turnover increased to 21 tonnes from the 20 tonnes last Friday, with prices supported by scattered buying, mainly by Europeans, followed by the Japanese and local traders.
The premium between the KLTM and the LME narrowed to US$160 per tonne from US$420 tonne last Friday. - Agencies