Monday, 14 May 2012
U.S.CRUDE
U.S. crude prices dropped below $96 per barrel on Monday, pressured by China’s slowing economy, the increasing likelihood of a Greek exit from the euro zone, and Saudi’s call for higher oil stock levels.
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NYMEX CRUDE
NYMEX crude for June slipped 63 cents to $95.50 a barrel ,adding to losses of nearly a dollar the previous session.
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SHANGHAI COPPER
The most-traded August copper contract on the Shanghai Futures Exchange was up 0.2 percent at 57,480 yuan ($9,100) per tonne.
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LME COPPER
Three-month copper on the London Metal Exchange gained 0.6 percent to $8,061 per tonne by 0106 GMT after losing more than 1 percent on Friday and falling for a second consecutive week.
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COPPER
Copper fell 3.7 percent in April from March, data from the National Bureau of Statistics showed on Friday, indicating the impact of weaker-than-expected domestic demand on smelter operating rates.
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GOLD
Gold added $4.30 an ounce to $1,582.60 by 0026 GMT, having hit a low around $ 1,573 on Friday, its weakest since early January, on fears that the debt crisis in Europe will hurt global economic growth.
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U.S. MARKET UPDATE
Shares of U.S. banks slumped on Friday after JPMorgan said it lost billions of dollars on bad trades, but the overall market ended only modestly lower, thanks to gains in technology shares.
The Dow Jones industrial average was down 34.44 points, or 0.27 percent, at 12,820.60. The Standard & Poor’s 500 Index was down 4.60 points, or 0.34 percent, at 1,353.39.The Nasdaq Composite Index was up 0.18 points, or 0.01 percent, at 2,933.82.
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Commodity Market Outlook :14-05-2012
Gold edged up on Monday
U.S. crude prices dropped below $96 a barrel on Monday
Euro slid to a 3-1/2-month low
London copper futures edged higher on Monday
U.S. crude prices dropped below $96 per barrel on Monday
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