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July 12 (Reuters) – Aluminium stocks held at three major Japanese ports came to 201,500 tonnes at the end of June, down 3,300 tonnes, or 1.6 percent, from a month earlier, trading house Marubeni Corp (8002.T) said on Monday.
Marubeni collects data from the key ports of Yokohama, Nagoya and Osaka. (Reporting by Chikako Mogi)
TOKYO, June 24 (Reuters) – Japan’s output of rolled copper products rose to 72,627 tonnes in May on a seasonally adjusted basis, up 50.4 percent from a year earlier, preliminary data showed on Thursday.
Appetite for copper, used in goods including utensils, construction materials and computer chips, is often seen as a gauge of economic activity.
The figure represents a 2.7 percent increase from April, the Japan Copper and Brass Association said. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Rolled copper product output graphic r.reuters.com/myw73m ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
May’s rolled copper product output was above 70,000 tonnes for the third consecutive month, underscoring moderate recovery in the economy.
The fall compared to May 2008 when output was at normal levels, before the global economic level also narrowed to about 12 percent. April’s output was down 14 percent from two years ago.
The Japanese Electric Wire and Cable Makers’ Association said earlier this week that copper wire and cable shipments rose 11 percent from a year earlier to an estimated 49,700 tonnes in May. [ID:nTOE65L02A]
Japan’s rolled copper product output rose about 120 percent in March from a year ago, the biggest ever year-on-year increase, mostly due to last year’s global recession.
The association has said the year-on-year jump has been magnified by a slump in demand in early 2009, and it should normalise after April as output and demand align with the economic recovery.
Japan on Tuesday raised its growth forecast for the fiscal year to next March to 2.6 percent on the back of a recovery in the world economy and stimulus steps taken by the government. [ID:nTFD006450]
But industry officials were keeping a cautious view due to persistent deflationary pressure in Japan and sluggishness in the construction sector, a major consumer of the metal. (Reporting by Chikako Mogi)
TOKYO, April 12 (Reuters) – The world’s largest gold-backed exchange-traded fund, the SPDR Gold Trust (GLD), said its holdings hit an all-time high of 1,141.041 tonnes as of April 9, topping the previous record hit the day before. [GOL/SPDR]
For details on gold holdings by the ETF listed in New York and also co-listed on other exchanges, click on:
www.exchangetradedgold.com/
Following are changes in SPDR holdings;
Date: Total tonnes
Apr 9 1,141.041
Apr 8 1,140.433
Apr 7 1,130.737
Mar 29 1,129.823
Mar 25 1,124.647
Mar 23 1,120.079
Mar 10 1,115.511
Mar 5 1,116.120
Mar 3 1,115.511
Mar 2 1,111.556
Feb 23 1,106.987
Feb 22 1,107.901
Feb 19 1,107.596
Feb 16 1,109.424
Feb 5 1,106.378
Feb 4 1,104.550
Feb 3 1,110.339
Jan 19 1,111.922
Jan 17 1,112.836
Jan 14 1,113.750
Jan 12 1,115.884
Jan 8 1,119.541
Jan 7 1,123.503
Jan 6 1,123.869
Jan 4 1,128.745 (Reporting by Chikako Mogi)
TOKYO, April 9 (Reuters) – Japan’s Nittetsu Mining Co Ltd
(1515.T) plans to produce 21,127 tonnes of copper in the
April-September first half, up 7.3 percent from the same period
last year.
This follows similar announcements of output plans by other
Japanese smelters this month as they remain cautious about the
demand outlook.
For details of Japanese smelters plans click: [ID:nTOE63504T]
Following are details of Nittetsu’s latest output plan, with
comparisons against actual production in the first half and for
the second half of 2009/10, which ended on March 31:
(copper in tonnes, gold and silver in kg):
H1 10/11 H1 09/10 H2 09/10
Copper 21,127 19,686 21,271
Gold 1,285 290 1,352
Silver 6,270 3,451 5,921
(Reporting by Chikako Mogi)
TOKYO, April 9 (Reuters) – Japan’s Toho Zinc Co Ltd (5707.T) said it plans to produce 56,981 tonnes of zinc in the April-September first half, up 16.2 percent from a year earlier.
Basic Materials | Energy
Most Japanese smelters have kept a cautious outlook on their output plans due to uncertainty over demand as Japan’s economy is only gradually recovering from the worst economic downturn in decades that forced manufacturers to reduce production and led to a sharp decline in consumption of metals.
For details of plans announced by Japanese smelters click: [ID:nTOE63504T]
Following are figures for the company’s latest output plan, with comparisons with estimated production in the second half of 2009/10 and actual production in the first half of 2009/10 (in tonnes):
H1 10/11 H1 09/10 H2 09/10
Zinc 56,981 49,026 60,892
Lead 49,000 38,812 41,284
Silver 145 157 173 (Reporting by Chikako Mogi)
* Gold slips from 2-week highs as euro eases
* Trade light as most Asia, Europea markets close for Easter
* Coming up: U.S. employment report for March at 1230 GMT
By Chikako Mogi
TOKYO, April 2 (Reuters) – Gold prices slipped from two-week highs on Friday
as the euro eased after gaining against the dollar the previous day, with
activity subdued due to Easter holidays in many Asian and most European markets.
As the global economic recovery becomes more evident, gold may come under
pressure, with investors turning to other commodities which traditionally gain
on strengthening industrial demand such as platinum and palladium, traders said.
“Gold will be seen as an underperformer when the economic outlook brightens,
with investors showing more interest in other commodities which benefit from
rising industrial demand,” said Wakako Harada, a senior trader at Mitsubishi
Corp in Tokyo.
“An economic recovery is not necessarily a bullish factor for gold, which
may succumb to selling pressure after its bull run,” she said.
Spot gold XAU= was confined to a narrow $5 range, trading at $1,120.00 per
ounce as of 0513 GMT, down 0.5 percent from New York’s notional close of
$1.125.50 per ounce. At this level, spot gold is set for a 1 percent weekly
gain.
Bullion ended the first quarter nearly 2 percent higher on currency
volatility related to euro zone debt and firm stock markets, but it has
struggled to sustain gains since hitting a record above $1,200 an ounce in
December.
U.S. gold futures for June delivery GCM0 settled at $1,126.10 an ounce on
Thursday on the COMEX division of NYMEX.
Spot gold XAU= rose to $1,127.75 an ounce on Thursday, its highest since
March 17, while platinum group metals rallied to their highest in more than 20
months as fresh investment money poured into commodities and other asset classes
across the board.
The number of U.S. workers filing new claims for unemployment benefits fell
last week and factory activity in March hit its highest level in more than 5-½
years, strengthening hopes for continued economic growth without government
support. [ID:nN01114317]
Thursday’s data came a day before the release of the closely watched U.S.
employment report for March, which is expected to show nonfarm payrolls rose by
190,000 jobs.
As spot platinum hit a 20-mth high, the premium over gold widened to around
$544, the highest since September 2008. While gold is seen top-heavy around
$1,125, where profit-taking sets in, platinum looks set to gain further as
industrial demand strengthens with the economic recovery.
Spot platinum XPT= was at $1,660.00 an ounce after hitting a 20-month high
of $1,671.50 on Thursday. Silver XAG= was at $17.83 after hitting a 10-week
high of $17.97 on Thursday. Palladium XPD= was near a two-year high of $490
hit on Thursday.
Investment into the world’s largest gold-backed exchange-traded fund, the
SPDR Gold Trust (GLD), paused with its holdings unchanged at 1,129.823 tonnes.
[GOL/SPDR]
The world’s largest silver-backed exchange-traded fund, the iShares Silver
Trust (SLV), said its holdings fell 61.01 tonnes to 9,217.17 tonnes as of April
1, down 0.7 percent from the previous business day. [ID:nTOE630092]
The euro eased 0.15 percent EUR= on Friday after rising against the dollar
the previous day. [USD/]
PRICES
Precious metals prices at 0514 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1120.00 -5.50 -0.49 2.22
Spot Silver 17.83 -0.04 -0.22 5.94
Spot Platinum 1660.00 -8.50 -0.51 13.1
Spot Palladium 490.00 0.00 +0.00 20.84
TOCOM Gold 3393.00 37.00 +1.10 4.11 38578
TOCOM Platinum 5016.00 89.00 +1.81 14.49 17824
TOCOM Silver 54.50 1.30 +2.44 5.42 614
TOCOM Palladium 1474.00 40.00 +2.79 26.52 779
Euro/Dollar 1.3571
Dollar/Yen 93.77
TOCOM prices in yen per gram. Spot prices in $ per ounce.
Gold stays near $890 as investors wary about dumping gold
* Buying limited due to receding safe-haven demand
* SPDR Gold Trust GLD holdings unchanged at record
By Chikako Mogi
TOKYO, April 15 (Reuters) – Gold was steady around $890 per
ounce on Wednesday as investors watched equity markets to gauge
risk appetite and awaited U.S. earnings and manufacturing data
for more clues on the health of the global economy.
Traders said current prices were unlikely to draw either
buying or selling interest as investors pondered whether to
shift money into equities or hold on to gold.
Stock market sentiment has improved since a G20 meeting of
global leaders this month and after government stimulus
packages from around the world.
“There is not much interest at the $900 level as equities
look more exciting than gold and people are not feeling so much
pain,” said Ronald Leung, director of Lee Cheong Gold Dealers
in Hong Kong.
“But investors don’t want to dump gold because they don’t
know where to put the money,” he said, adding that there was
still too much uncertainty over the global economic outlook to
let go of safe-haven assets.
He said gold would have to fall near $875 to draw buying
interest, including jewellery buying, or rise above $900 to
prompt selling.
Spot gold was trading at $891.05 per ounce, up 0.2
percent from New York’s notional close of $888.85 on Tuesday.
Bullion last closed above $900 on April 2 before hitting a
2-½ month low of $864.30 last week.
Holdings at the world’s largest gold-backed exchange-traded
fund, the SPDR Gold Trust GLD, were unchanged at a record
1,127.68 tonnes as of April 14, a level first reached on April
9. [GOL/SPDR]
Japan’s Nikkei stock average .N225 was down 0.8 percent,
while MSCI’s measure of stocks elsewhere in the Asia-Pacific
region .MIAPJ0000PUS fell 1.2 percent. [.T] [MKTS/GLOB]
Traders believe the precious metal’s strength is intact as
investors remain cautious about U.S. corporate results.
U.S. March data for consumer prices, real earnings and
industrial production will be released later in the day.
Precious metals prices at 0305 GMT
Metal Last Change Pct chg YTD pct chg
Turnover
Spot Gold 890.50 1.65 +0.19 1.18
Spot Silver 12.72 0.00 +0.00 12.37
Spot Platinum 1214.00 10.00 +0.83 30.26
Spot Palladium 233.00 3.00 +1.30 26.29
TOCOM Gold 2844.00 -41.00 -1.42 10.53
12622
TOCOM Platinum 3855.00 -88.00 -2.23 45.36
15219
TOCOM Silver 401.40 -1.10 -0.27 25.71
176
TOCOM Palladium 750.00 -17.00 -2.22 36.36
191
Euro/Dollar 1.3242
Dollar/Yen 98.53
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Additional reporting by Miho Yoshikawa; Editing by Ben Tan)
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