KUALA LUMPUR: Crude palm oil futures contracts on Bursa Malaysia Derivatives closed on a firm note again yesterday, boosted by better demand, a dealer said.
Spot month November 2013 surged RM85 to RM2,585 a tonne, December 2013 climbed RM50 to RM2,557, January 2014 appreciated by RM49 to end the day's trade at RM2,547 and February 2014 improved RM47 to close at RM2,542.
Volume rose to 49,517 lots from 48,213 lots on Tuesday, while open interest narrowed to 195,693 contracts versus 202,021 recorded on Tuesday.
On the physical market, November South added RM40 to RM2,540 a tonne.OILLONDON:
Brent edged higher above US$109 (US$1.00 = RM3.16) a barrel yesterday as export disruptions in Libya cut supplies to Europe and Asia, while the benchmark US contract fell towards US$97 after a bigger-than-expected rise in inventories in the United States.
Brent crude for December delivery was up nine cents at US$109.10 by 1302GMT, after falling 60 cents on Tuesday.
US crude was 86 cents lower at US$97.34, having hit an intraday low of US$97.10.
"There is no indication that Libya's oil supply will normalise anytime soon," Commerzbank analyst Carsten Fritsch said.RUBBERKUALA LUMPUR:
Local rubber prices closed higher yesterday, spurred by buying interest in the commodity, a dealer said.
The performance of the local market was also in line with the uptrend in rubber prices on the Tokyo Commodity Exchange, following the weaker yen, the dealer said.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 rose 5.5 sen to 728 sen a kg, and latex-in-bulk added one sen to 526 sen a kg.
The unofficial closing price for tyre-grade SMR 20 went up six sen to 730 sen a kg, and latex-in-bulk gained one sen to 526 sen a kg.GOLDLONDON:
Gold extended earlier gains yesterday after weak US jobs data supported the view that the US Fed would signal plans to keep its stimulus intact for months.
Spot gold rose as much as 1.1 per cent to US$1,358.06 an ounce after the US data release and was up 0.8 per cent at US$1,354.66 by 1314GMT.
US gold futures for December delivery rose by US$11.00 to US$1,356.60.
Spot silver was up 2.1 per cent at US$22.99, spot platinum rose 0.8 per cent to US$1,472.49 an ounce and spot palladium gained 0.2 per cent to US$745.47 an ounce.TINKUALA LUMPUR:
Tin price on the Kuala Lumpur Tin Market (KLTM) closed firmer yesterday at US$23,300 a tonne, up US$200, lifted by continued buying momentum despite the downtrend on the London Metal Exchange (LME), a dealer said.
On the LME, the metal price remained unchanged at Tuesday's settlement price of US$23,175 a tonne.
The dealer said traders were cautious due to uncertain price movements on the LME, but scattered buying mainly from European buyers helped push the local market higher.
At the opening bell, bids amounted to 33 tonnes, against offers of 20 tonnes.
Turnover fell to 28 tonnes against 41 tonnes recorded on Tuesday, with European, Japanese and local traders accounting for yesterday’s transactions.
The premium between the KLTM and the LME widened to US$525 a tonne from US$325 a tonne on Tuesday. - Agencies