Statistics

TABLE-China's Feb nickel trade - RTRS

Date Mar 24 2015 08:34:41
Mar.24,2015(SHMET)--

(Reuters) - China's exports and imports of refined nickel and concentrates as well as ferronickel in February 2015, and the first 2 months of the year as reported in official customs figures.

 

                                         Feb                                  Year to date

                              tonnes      pct chg*      $/tonne           tonnes      pct chg*

 

IMPORTS

Refined nickel, alloy         10,472         33.3     15,245.02           18,478       -29.23

From:

   Russia                      6,793         91.5      14,973.9            9,652       -34.13

   Canada                      1,298       -32.21     16,206.78            3,249       -26.44

   Japan                       1,058         8.29      16,087.6            2,308         28.6

   South Africa                  640        -2.95     14,803.79            1,480       -34.51

   Taiwan                        206   686,566.67     14,539.88              206       -74.26

   Madagascar                    180            -     14,937.32              640       12,700

   China                         114            -     15,358.25              216            -

   Australia                      94       -25.26     16,376.12              302        -2.29

   Norway                         78       -77.62     15,908.92              134       -90.25

   Britain                         6       -97.33      17,638.5              269       -13.93

   Finland                         3       -77.55     16,306.33               15       -87.16

   South Korea                     1       -44.97        26,895                2       -47.91

   Belgium                         -         -100             -                4          400

   Germany                         -            -             -                1            -

 

Nickel ores & concentrate    948,829       -73.57        171.61        2,100,680       -80.67

From:

   Philippines               897,931        89.41         91.72        1,974,232        25.24

   Australia                  24,5082,450,751,900      1,478.92           41,666        69.53

   USA                        14,057     1,685.89      2,029.75           14,057     1,685.89

   Vietnam                     4,510            -      1,294.02           15,372          334

   Zimbabwe                    3,733        71.43      1,168.07            7,497       -45.87

   Brazil                      2,178            -      1,771.46            2,872            -

   Finland                     1,852       305.54        836.45           13,314        -9.97

   Mexico                         60       305.64      1,499.75               60       305.64

   South Korea                     1            -           126                1            -

   Belgium                         -            -             -                5            -

   Thailand                        -         -100             -              160       -44.51

   Canada                          -            -             -           31,443    10,052.33

 

Ferronickel                   30,600         13.9      3,665.62           83,116        45.72

From:

   Myanmar                     7,969       626.45      4,332.72           14,800     1,249.14

   Japan                       6,280       -36.22      2,372.26           14,330        -3.21

   Macedonia                   4,157       157.88      3,141.53           10,161       119.91

   South Korea                 3,667    16,545.28       4,017.7            3,908    17,642.46

   New Caledonia               2,696        -7.76      4,129.03           16,498        54.47

   Brazil                      2,316        -53.5      4,881.61            4,504       -56.24

   Serbia                      1,899            -      3,183.68            4,274            -

   Country (region) unknown      995            -      3,243.73            1,466            -

   Colombia                      620        -90.2      5,225.02            5,202       -65.82

   Philippines                     -            -             -               77            -

   Indonesia                       -            -             -            6,870            -

   North Korea                     -         -100             -               20       -60.76

   Venezuela                       -            -             -            1,004            -

 

EXPORTS

Refined nickel, alloy          3,570        36.17     16,414.08            9,291       100.83

To:

   India                       1,296     1,460.55     17,552.97            2,639     1,373.24

   Belgium                       581       -17.06     15,021.61              961       -44.79

   Hong Kong                     475        375.3     17,331.19              475        375.3

   Netherlands                   400            -     14,994.35            1,560        466.8

   USA                           282       594.46     15,723.69              479       688.34

   Italy                         140       133.33      15,041.1              280           75

   Spain                         120            -     15,040.98              240            -

   South Korea                   111         44.3     16,582.98              367        47.83

   Turkey                         48       -33.74     15,243.96               95         0.48

   Taiwan                         45            -     14,273.27              726     1,351.52

   Thailand                       40       -33.92      21,107.5               40       -66.93

   Japan                          19        -50.4     14,935.84              100         27.7

   Pakistan                        8            -     15,624.13               29       173.38

   Vietnam                         5            -        15,892               20        94.47

   Philippines                     -            -             -                8        33.33

   United Arab Emirates            -            -             -               72       -28.69

   Malaysia                        -            -             -            1,199            -

   Britain                         -            -             -                1            -

 

Ferronickel                      152            -      6,316.09              152       -78.65

To:

   Japan                         152            -      6,314.66              152            -

Edited by SHMET

TABLE-China's Feb silver, platinum trade - RTRS

Date Mar 24 2015 08:34:11
Mar.24,2015(SHMET)--

 (Reuters) - China's imports and exports of silver, platinum and palladium in February 2015 and the first 2 months of the year as reported in official customs figures.

                                         Feb                                  Year to date

                           kilograms      pct chg*      $/ounce        kilograms      pct chg*

 

IMPORTS

Silver                       194,614       -45.63          5.92          411,039       -26.85

From:

   Japan                      78,598         4.56          2.73          151,028        -6.67

   Taiwan                     35,669       -21.94          2.32           98,532        -3.67

   USA                        29,865        10.98          3.78           63,157        18.51

   China                      19,230       428.86         13.98           31,837        167.2

   Hong Kong                  12,780       814.75          17.9           21,868       799.33

   South Korea                 6,751        21.45          8.51           14,999        13.47

   Germany                     2,061       -32.09         13.96            3,984       -43.23

   Australia                   1,829       -99.01         24.04            4,696       -97.48

   Puerto Rico                 1,705        10.75         18.65            2,686       -36.92

   Malaysia                    1,620         -2.7          0.36            4,001        15.14

   Italy                       1,410       -10.04         16.22            3,406        14.49

   Switzerland                 1,150       -51.14         21.34            3,351       -13.98

   France                        672       -60.37         21.12            1,030       -65.31

   Singapore                     415     1,320.48         17.11              887       988.27

   South Africa                  408        -41.2         17.84            1,830        43.08

   Philippines                    99       -36.04          3.29              245       -32.47

   Spain                          91        -3.08         17.79              137        45.53

   Poland                         77            -         33.63              170            -

   Canada                         64        45.36          3.98              122        159.7

   Denmark                        60           81          8.45               85       156.76

   Britain                        32       -90.93         18.86               76        -80.3

   Peru                           14        -19.8          3.42               17       -20.76

   Country (region) unknown        9       350.15         15.56                9       350.15

   Netherlands                     2       133.33         60.16                2       -98.87

   Russia                          1       -99.44         21.77              203        12.15

   North Korea                     -         -100             -            2,476       386.54

   Thailand                        -         -100             -              200       -92.31

   Czech Republic                  -         -100             -                5       167.57

 

Palladium                      1,033        -54.4         724.8            2,452       -38.06

From:

   Britain                       366       -37.55        792.15              988       -45.78

   Japan                         259        15.21        798.25              600        48.62

   South Africa                  166       -55.29        807.01              239        -38.6

   Russia                         83            -        804.24              202       918.97

   Taiwan                         71        52.42         21.44              107        -0.62

   USA                            59       -91.86        455.67              138       -83.15

   Puerto Rico                    21        10.54        872.71               39        -12.8

   South Korea                     4       -82.82        343.32                9       -82.49

   Germany                         4       -98.03         916.6               21       -89.83

   Italy                           1       -41.18        186.62                3        66.33

   Australia                       -            -             -                1            -

   Belgium                         -         -100             -              100        34.42

   Hong Kong                       -         -100             -                3        -30.1

   Switzerland                     -         -100             -                1        19.62

 

Platinum                       2,838       -58.25      1,070.01            8,136       -36.76

From:

   South Africa                1,697       -63.76      1,290.34            4,766       -44.96

   Japan                         876       -22.79        663.94            1,976       -22.45

   Britain                       139         6.05      1,243.71              335        23.87

   Singapore                      36       394.28        454.21               47        59.88

   Taiwan                         36            -        601.31               94       655.66

   USA                            24       -48.57        716.07               53       -42.05

   Belgium                        11       259.15      1,405.67               22        639.3

   Switzerland                    10       -95.91      1,249.54              514        -6.74

   Germany                         5       -98.35      1,346.65               12       -96.34

   Hong Kong                       1       -83.62      1,457.69               13        16.33

   Austria                         1            -        315.16                1            -

   Portugal                        1            -        141.24                2          -24

   South Korea                     0        11.11      1,345.54                0        36.84

   Country (region) unknown        -         -100             -                8       -53.28

   Puerto Rico                     -         -100             -                0       -66.67

   France                          -            -             -                1            -

   Russia                          -         -100             -              291       -15.41

 

EXPORTS

Silver                       149,745       484.13         17.34          252,145       192.23

To:

   Hong Kong                 149,015       513.06         17.42          241,911       478.76

   Malaysia                      720            -          1.57            1,800           25

   Japan                          10            -         18.83               10            -

   Spain                           -         -100             -                6       -98.71

   Thailand                        -         -100             -            8,418       -77.13

 

Palladium                          4       -46.15        119.34                4       -45.85

  To:󠀁󠁅󠁎Hong Kong                       4            -        119.34                4            -

   Japan                           -         -100             -                0       -99.69

 

Platinum                          48       -90.16      1,215.47              169        -68.1

To:

   USA                            25       -32.95      1,120.04               61        61.88

   Japan                          22       -95.01      1,323.68              107       -78.14

 

SILVER PRODUCTS

                                              Feb                                   Year to date

                           kilograms      pct chg*      $/ounce        kilograms      pct chg*

Imports:

Silver powder                111,828       -61.48          2.95          227,831       -43.78

Unwrought silver              41,332       230.58         14.77           78,746        95.95

Semi-manufactured silver      41,455       -24.83          5.11          104,462        -10.3

Silver jewellery               1,364         7.16         80.94            3,612        24.37

 

Exports:

Silver powder                    842        71.84          3.98            1,922       -70.92

Unwrought silver             136,753       464.88         17.43          230,822       194.15

Semi-manufactured silver      12,151      1,197.3         17.32           19,401     1,514.06

Silver jewellery              17,098        67.32         85.89           39,982       -12.42

 

Edited by SHMET

TABLE-China's Feb aluminium imports and exports - RTRS

Date Mar 24 2015 08:33:43
Mar.24,2015(SHMET)--

 (Reuters) - China's imports and exports of primary aluminium, alumina and bauxite as well as countries of origin and destination in February 2015, as reported in official customs figures.

                                         Feb                                  Year to date

                              tonnes      pct chg*      $/tonne           tonnes      pct chg*

 

IMPORTS

Primary aluminium              6,607       -88.44      2,151.13           11,823       -89.44

From:

   India                       3,910        36.57      1,896.04            3,910       -77.16

   Australia                   1,655       -92.05      2,393.18            4,974       -86.56

   Oman                          484       -88.29       2,322.9            1,708       -83.97

   United Arab Emirates          210       -89.02      2,456.17              210       -89.02

   South Africa                  100       -97.82      2,508.95              100       -99.11

   Brazil                        100            -      2,249.25              100            -

   North Korea                    83       -62.63      1,701.93              182       -67.12

   Germany                        28        60.98     12,777.14               59        22.15

   Hong Kong                      22            -         2,200               22       -49.39

   Japan                          13       316.81     12,772.38               28        333.8

   South Korea                     1            -         2,426                3        -84.9

   USA                             1          100         5,496                1        -0.58

   Russia                          -         -100             -              525       -97.67

 

Aluminium alloy                2,719       -59.12      2,428.41            8,398       -47.38

From:

   Taiwan                        820       -36.96      1,918.39            2,166       -35.57

   United Arab Emirates          432       -62.39      2,357.92            2,711       -29.66

   Russia                        269            -      1,907.41              624       191.06

   Malaysia                      269       -59.14      2,294.52              346       -74.15

   South Korea                   258        37.47      2,612.51              494        -0.78

   China                         203        -0.96      2,257.39              613        29.07

   Australia                     151       -60.19      2,651.99              177       -80.01

   Japan                         133       -65.76      2,755.66              430       -27.27

   North Korea                    48            -      1,567.83               72        -6.34

   USA                            39       -91.58      3,141.03              126       -80.16

   Germany                        31       -82.23      4,377.45              143       -65.59

   Nigeria                        27       -95.56      1,275.56              277       -59.37

   Thailand                       20         -1.4      2,250.95               40       100.36

   Kazakhstan                     18        -1.95     29,174.94               33        25.14

   France                          1       -60.17        43,538                1       -88.63

   Egypt                           -            -             -               48        -8.59

   Vietnam                         -            -             -               96       -20.29

   Netherlands                     -            -             -                1       -98.24

   Ecuador                         -         -100             -                2       -91.35

 

Aluminium scrap              110,040       -35.16      1,460.16          302,285       -17.87

From:

   USA                        31,660       -47.33         1,581           86,511       -31.99

   Australia                  20,441        23.36      1,486.32           53,464        39.83

   Hong Kong                  12,278       -50.03      1,279.37           42,375       -19.46

   Malaysia                    9,660       -62.25      1,443.17           25,092       -57.81

   Britain                     5,811        11.22      1,563.74           17,267        22.32

   Netherlands                 5,413        33.43      1,336.62           10,314        22.51

   France                      5,256       139.55      1,205.18           17,790       246.35

   Belgium                     5,011        97.64      1,428.13            8,211        55.92

   Germany                     3,378       -67.84      1,438.98            7,130       -67.38

   Canada                      2,513       -23.36      1,595.96            7,299         2.52

   Philippines                 2,390            -      1,113.37            5,604            -

   Macau                         861        81.04      1,408.51            2,787        81.41

   Japan                         805       -44.58      1,202.43            1,741       -32.56

   Italy                         628        -54.5      1,636.89            2,610         15.3

   Spain                         593       -74.37      1,380.29            1,926       -35.64

   Colombia                      522       -37.16      1,603.27            1,070       -33.57

   Denmark                       411        50.22       1,583.1            1,121        34.04

   Sweden                        393         7.37      1,455.05            1,788        36.55

   Norway                        345       -37.38      1,661.57            1,182       -29.41

   New Zealand                   297       -31.09      1,610.95              712        35.86

   Taiwan                        221         -3.6      1,886.53              790        28.64

   South Korea                   216       -75.27       1,118.3              665       -53.96

   Finland                       133       -73.15      1,409.17            1,569        96.27

   Mexico                        114        -71.2      1,459.65              353       -70.95

   South Africa                  102       113.67      1,715.36              200       101.76

   Greece                         94       -61.55       1,515.3              116       -62.85

   El Salvador                    67            -      1,549.63               67       -21.42

   Saudi Arabia                   59            -      1,583.05               98       143.93

   Indonesia                      49            -      1,560.12              123            -

   Peru                           45       -79.65      1,580.87              279       -20.31

   Dominican Republic             42       -79.54      1,633.31              181       -43.34

   Morocco                        41       -53.47      1,575.07              103        17.69

   Guatemala                      40        99.34       1,563.8               79        89.02

   Panama                         38         4.15      1,579.84              136        49.05󠀁󠁅󠁎Uruguay                        24        -6.76      1,617.63               24       -53.02

   Costa Rica                     21         0.05      1,563.86               62       199.42

   Chile                          19       -54.56      1,603.16              233        28.36

   Slovenia                       19            -         1,559               43            -

   Nicaragua                      17       -68.09      1,550.94               17       -75.64

   Thailand                       15       -99.55       1,226.4              153       -97.35

   The Neth. Antilles              -            -             -               38            -

   Oth.Ocean.nes                   -            -             -              111            -

   Puerto Rico                     -         -100             -              118       -21.83

   United Arab Emirates            -            -             -               15            -

   Ireland                         -            -             -              211            -

   Mongolia                        -            -             -               52            -

   Israel                          -            -             -               92       190.53

   Lebanon                         -            -             -               50            -

   Honduras                        -         -100             -               66        54.29

   Paraguay                        -         -100             -               69       -24.19

   Ecuador                         -         -100             -               62       -70.97

   Bulgaria                        -         -100             -               68       -38.97

   Brazil                          -            -             -               51            -

 

Alumina                      329,681       -29.07        381.79          714,875       -35.41

From:

   Australia                 126,582       -63.73        376.47          343,368       -61.69

   Brazil                     89,605            -        357.25          125,459            -

   India                      56,722        86.85        370.46          112,622           24

   Vietnam                    38,049       -22.99        370.17           93,288         15.5

   Suriname                   15,750            -         377.5           33,601            -

   Germany                     1,287      1,467.5      1,618.68            2,667        503.3

   Japan                         907       -15.07      1,914.51            1,857         4.34

   USA                           316       -99.07      1,977.06              423       -98.76

   France                        288       -58.87      1,532.06            1,113       -44.16

   South Korea                   123        112.9      1,405.96              332        11.31

   Indonesia                      40            -           310               40            -

   Taiwan                          8        7,900      7,929.38               33        20.26

   Italy                           2            -        11,556                2            -

   Austria                         1            -         1,600                2         3.12

   China                           0       -97.14             0                5         28.6

   Canada                          -            -             -               64            -

 

Bauxite                    3,024,509        -4.26            56        5,612,331       -49.11

From:

   Australia               1,583,143        76.78         57.64        3,085,013        33.43

   India                     706,404     1,213.59         60.51        1,286,051       746.29

   Malaysia                  690,322            -         47.38        1,033,216            -

   Ghana                      44,640            -         60.02          113,590        30.42

   Solomon Islands                 -            -             -           40,829            -

   Fiji                            -            -             -           50,119            -

   Vietnam                         -            -             -            3,513            -

 

Aluminium semi-finished products

                              29,093         -7.5      6,458.15           73,821         -4.3

 Including:

Aluminium bars, rods & profiles

                               3,737       -19.36      6,183.18           10,437         6.96

Aluminium wire                   286       -35.93      7,607.54            1,102       -10.68

Aluminium plates, sheets & strip

                              20,460        -3.26      4,246.52           52,226        -4.61

Aluminium foil                 3,896         1.71      17,407.8            8,035        -3.91

Aluminium tubes and pipes (incl fittings)

                                 654        -45.4     10,982.16            1,829       -32.62

 

Finished products:

Aluminium structures             196       -50.43     17,983.62              767       -20.31

Aluminium stranded wire, cables    1       -66.68        10,189                3        18.66

 

                                         Feb                                  Year to date

                              tonnes      pct chg*      $/tonne           tonnes      pct chg*

 

EXPORTS

Primary aluminium              1,098        -78.2      2,184.71            1,680       -88.49

To:

   Vietnam                       500            -      1,988.86            1,000            -

   Hong Kong                     285            -      2,513.95              285            -

   South Korea                   169       -96.64      1,671.45              169       -98.83

   North Korea                   108            -      2,605.16              108        588.5

   Japan                          35            -       3,457.6              116       144.77

   Russia                          -            -             -                1            -

 

Aluminium alloy               30,973        42.33       2,179.5           83,072        35.95

To:

   Japan                      12,597        46.01      2,122.49           27,885        14.75

   Hong Kong                   9,901        49.61      2,167.93           31,993        52.66

   Vietnam                     1,622       -19.76      2,199.97            4,784        19.92

   South Korea                 1,268        24.99      2,167.56            2,663        44.34

   Australia                   1,139       173.25      2,153.43            2,856       102.27

   Taiwan                      1,100        48.78      2,367.64            1,947        19.19

   Thailand                      915       246.33       2,364.9            2,329       118.71

   India                         669            -      2,184.16            1,347       211.29

   Brazil                        252       -62.75       2,524.1            1,060       -17.47

   Indonesia                     208       -56.82      2,266.47              682        -50.7󠀁󠁅󠁎Mexico                        205            -      1,996.65              549            -

   Egypt                         199            -      2,289.07              199            -

   Philippines                   198       -56.21       2,122.1              750       -27.27

   Norway                        175        79.44      3,008.21              525       209.52

   Israel                        152            -      2,123.05              193            -

   Netherlands                   100       -50.77      2,952.68              487         1.81

   Italy                          55            -      2,147.69               79     1,212.08

   Algeria                        49            -      2,085.27               49        19.15

   Iceland                        48            -      3,309.29               48            -

   USA                            32       -72.99      3,403.94               57       -60.75

   Malaysia                       27       568.04      3,385.96            1,991       918.79

   Ukraine                        24            -      2,416.46               24            -

   Slovenia                       20            -      2,967.15               45            -

   Argentina                      10            -         3,200               10            -

   Spain                           4            -      2,729.75                4            -

   Turkey                          4        21.21         6,400                7         7.69

   Canada                          -            -             -               10            -

   United Arab Emirates            -            -             -              220          175

   Bahrain                         -            -             -               46            -

   Austria                         -            -             -               20            -

   Cuba                            -            -             -               12            -

   Iran                            -            -             -              200     19,871.8

 

Aluminium scrap                   61       120.74      1,764.44              147        82.53

To:

   South Korea                    61       120.74      1,764.44              130        61.42

   Japan                           -            -             -               17            -

 

Alumina                        4,058        326.4        897.94            8,499       -79.59

To:

   South Korea                 2,111     1,970.69        502.02            3,309        50.28

   USA                           551       100.73      1,545.26              930        36.34

   Vietnam                       227       350.75      1,593.13              350       182.43

   Iran                          122        174.7         592.7              216        81.55

   Kazakhstan                    116            -           906              117     3,783.33

   Russia                        113       243.03      1,091.68              137       315.44

   Nigeria                       108            -           467              108       157.14

   Taiwan                         91       240.38       1,358.8              153       154.03

   Japan                          80         6.83      1,134.66              407        -3.24

   India                          79       288.13        557.14              103        81.73

   Bangladesh                     78         94.5      1,008.97               88        41.61

   Brazil                         75            -      1,646.13               75            -

   Britain                        66            -      1,301.82               89         3.81

   Malaysia                       43     1,316.67        650.28               81        1,524

   Canada                         41            -      1,146.46               51      204,312

   Indonesia                      34       -67.53        737.62               37       -67.42

   Italy                          27       -71.84      5,552.22               38        -72.6

   South Africa                   27            -         603.7               33            -

   Singapore                      18       475.41      1,417.11               36        492.5

   France                         14            -      1,314.64               14        -2.77

   Spain                          14            -      2,263.43               14          -15

   Greece                          6            -      2,499.83                6            -

   Kuwait                          5            -         799.6                5            -

   Thailand                        3            -        999.67               18       -34.89

   Israel                          3          500           330                3          500

   Hungary                         2            -        12,750                2        3,650

   Germany                         2       -40.62        11,135               31       847.88

   Netherlands                     2         57.5        18,900               10          895

   United Arab Emirates            2            -         7,500                2         -100

   Papua New Guinea                1            -         3,718                1            -

   Australia                       1       247.22         1,638                5        1,225

   Mauritius                       1            -           840                1            -

   Turkey                          0            -             0                5            -

   North Korea                     -            -             -            2,001    46,437.21

   Mexico                          -         -100             -               26      2,318.6

 

Aluminium semi-finished products

                             390,000        187.6      3,137.49          770,000           91

 Including:

Aluminium bars, rods & profiles

                              64,619       212.81       3,522.3          131,853        57.22

Aluminium wire                 2,428       247.51       3,707.7            4,786        71.05

Aluminium plates, sheets & strip

                             232,438       272.53      2,778.17          446,262       156.72

Aluminium foil                69,453        46.27      3,468.07          151,722        24.45

Aluminium tubes and pipes (incl fittings)

                              21,856       398.98      4,453.72           35,358        75.13

 

Finished products:

Aluminium structures          62,974       137.39       4,936.9          134,648        53.17

Aluminium stranded wire, cables

                              18,193       160.57      2,596.64           47,512        127.4

Edited by SHMET

Copper jumps 2% on dovish Fed outlook

Date Mar 20 2015 09:39:06
Mar.20,2015(SHMET)--

Copper futures rallied sharply on Thursday, after the Federal Reserve projected a slower pace of rate hikes.

On the Comex division of the New York Mercantile Exchange, copper for May delivery surged 5.4 cents, or 2.09%, to trade at $2.624 a pound during European morning hours after hitting an intraday high of $2.629.

Futures were likely to find support at $2.552, the low from March 18, and resistance at $2.645, the high from March 18.

In a statement following its monetary policy meeting on Wednesday, the Fed downgraded its forecasts for growth and inflation and lowered its interest rate projections.

The Fed dropped a reference to being "patient" on the timing of rate hikes, but added that the change in its forward guidance did not mean it has decided on the timing for an initial rate increase.

"Just because we removed the word "patient" does not mean we will become impatient," Fed Chair Janet Yellen said at a post-meeting press conference.

Yellen also warned that the stronger dollar was acting as a drag on U.S. exports and was pushing down inflation.

The statement prompted investors to push back expectations on the timing and pace of future rate increases.

The dollar index plunged to three-week lows of 94.77 on Wednesday, before rebounding to trade at 99.04 early on Thursday.

A day earlier, copper fell to $2.552, a level not seen since February 17, before ending at $2.570, down 6.2 cents, or 2.37% as mounting concerns over the health of China's property sector dampened appetite for the red metal.

A cooler property sector not only weighs on demand for copper as construction material, but also dampens consumption from the home appliances sector.

The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year.

Elsewhere on the Comex, gold futures for April delivery rallied $14.40, or 1.25%, to trade at $1,165.70 a troy ounce, while silver futures for May delivery climbed 33.7 cents, or 2.17% to trade at $15.87 an ounce.

A delay in raising interest rates would be seen as bullish for gold, as it decreases the relative cost of holding on to the metal, which doesn't offer investors any similar guaranteed payout.

Gold fell to a four-month low of $1,141.60 earlier in the week amid concerns that the Federal Reserve will start raising rates as early as in June.

 

Edited by SHMET

PRECIOUS-Gold at near two-week high as dollar tumbles on dovish Fed

Date Mar 19 2015 09:37:08
Mar.19,2015(SHMET)--

(Reuters) - Gold extended gains on Thursday to its highest level in nearly two weeks as the dollar

tumbled after the Federal Reserve signalled a slower pace of U.S. interest rate hike and caution on U.S. economic growth.

       

    FUNDAMENTALS

    * Spot gold gained 0.6 percent to $1,174.26 an ounce by 0041 GMT, after earlier climbing to $1,175.05, its highest since March 9. The metal gained 1.6 percent on Wednesday, its biggest one-day jump since Jan. 30.

    * The Fed on Wednesday moved a step closer to hiking rates for the first time since 2006, but downgraded its economic growth and inflation projections, signalling it is in no rush to push borrowing costs to more normal levels.

    * The U.S. central bank removed a reference to being "patient" on rates from its policy statement, opening the door wider for a hike in the next couple of months while sounding a cautious note on the health of the economic recovery. It also slashed its median estimate for the federal funds rate.

    * Fed Chair Janet Yellen also sounded uncomfortable with the strength of the dollar, saying it would be a "notable drag" on exports and a downward force on inflation.

    * The dollar has gained nearly 8 percent this year against a basket of major currencies as strong U.S. economic data boosted expectations the Fed would soon start raising interest rates.Diverging global monetary policies have also helped.

    * Gold, on the other hand, fell to a four-month low earlier this week as fears mounted regarding higher interest rates. The Fed's caution brought some bullion investors back on board.

    * Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.24 percent to 749.77 tonnes on Wednesday - the first inflow since Feb. 20.

    * In other industry news, a handful of banks will start setting gold prices electronically on Friday, sources with direct knowledge of the matter said, as Intercontinental Exchange completes a sweeping change to London's bullion benchmarks and dispenses with the century-old gold "fix".

    * The Dubai Gold and Commodities Exchange is in an advanced stage of talks with a local bank on its plans to launch a spot gold contract, a senior executive at the exchange said.

     * Seizures of gold smuggled into India have surged, data showed on Wednesday, as the government tries to crack down on a thriving illegal trade made profitable by high import duty and other restrictions.

    MARKET NEWS

    * The dollar nursed punishing losses in Asia on Thursday after investors priced in a later start and a slower pace for future U.S rate rises, slashing Treasury yields and firing up Wall Street stocks.

 

    PRICES AT 0041 GMT

 Metal            Last     Change  Pct chg

                                         

 Spot gold        1174.26    7.51     0.64

 Spot silver        16.03    0.13     0.82

 Spot platinum     1129.4   15.56      1.4

 Spot palladium     786.1    5.84     0.75

 Comex gold        1173.6    22.3     1.94

 Comex silver       16.03   0.489     3.15

 Euro              1.0904                

 DXY               97.236                

                                         

 COMEX gold and silver contracts show the most active months

 

Edited by SHMET
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