London Commodity Movers: Crude Oil, Copper, Cocoa, Sugar
2001-11-19 06:02 (New York)
London, Nov. 19 (Bloomberg) -- The following London commodity
markets may be or are active today.
Brent crude oil for January settlement (CO1 <Cmdty>) fell as
much as 60 cents, or 3.4 percent, to $17.15 a barrel on London's
International Petroleum Exchange. Traders are concerned OPEC won't
persuade Russia and other producers to cut output in a bid to
boost prices. The Organization of Petroleum Exporting Countries
declined to reduce supplies last week unless the rival nations
cooperate. (News: NI OIL)
Copper for delivery in three months (LMCADS03 <Cmdty>) rose
$16, or 1.1 percent, to $1,514 a ton in electronic trading on the
London Metal Exchange. The metal has gained 9 percent this month
on expectations that mining companies will succeed in their
efforts to eliminate a surplus created by weakening demand from
slowing economies. (News: NI COPPER)
Cocoa for March delivery (QCA <Cmdty>) rose as much as 25
pounds, or 2.6 percent, to 977 pounds ($1,391) a metric ton on the
London International Financial Futures and Options Exchange.
That's a record for the contract which began trading in April 2000
and comes amid uncertainty about supplies from the Ivory Coast,
the biggest grower. (News: NI COCOA.)
White sugar for March delivery (QWA <Cmdty>) rose as much as
30 cents, or 0.1 percent, to $236 a metric ton on LIFFE. World
sugar production in the 2001/2002 crop year will be 131.94 million
tons, about 0.4 percent lower than previously forecast, the
International Sugar Organization said in a report Friday. Still,
that's 0.7 percent more than the previous year. (News: NI SUGAR)
--Stuart Wallace in the London newsroom (44-20 7673-2388), or
swallace6@bloomberg.net with reporting by Bloomberg reporters
worldwide/cm |
