Latest News:  
Beijing   Cloudy    26 / 16 ℃  City Forecast

English>>China Business

Domestic commodity futures weaken on IMF predictions

By Michael Bellart  (Global Times)

08:36, October 11, 2012

Chinese commodity futures traded lower Wednesday as the market pessimism which emerged Tuesday carried over into the following session.

The most traded copper contract on the Shanghai Futures Exchange (SHFE) fell 0.62 percent to close at 58,860 yuan ($9,348) per ton. The January contract slipped lower over the session after opening 0.51 percent below Tuesday's closing price.

The contract stayed in line with the benchmark three-month contract on the London Metal Exchange (LME), which had fallen 0.4 percent Wednesday by the time the Chinese mainland markets had closed for the day.

Meanwhile, the most active SHFE gold contract fell 0.62 percent to 359.55 yuan per gram.

The commodities markets continue to suffer from ongoing concerns about a slowdown in global economic growth, according to commodity analysts from the Australian bank ANZ.

"Markets were generally cautious overnight after the IMF global growth cuts and ahead of the US third quarter earnings season," they said in a note Wednesday. "The IMF said the global economic slowdown is worsening, cutting its growth forecasts from 3.5 percent to 3.3 percent, the lowest level since 2009. Equities were lower ahead of US earnings reports with expectations of an average 1.7 percent fall in earnings, the first fall since 2009."

News we recommend:
Let the train, take the strain Personal care market to keep growing An Apple a day isn't keeping critics away
Global companies expand rapidly in China Shanghai's 'other' market China's tourism industry reaps golden harvest
Commentary:Asking the right questions  More Investment, More Woes? All that glitters is gold

Email|Print|Comments(Editor:李倩、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Fighters conduct low-altitude flight training

  2. The oddest animal rights protests

  3. Ice train begins trial operations

  4. Changes in transportation

  5. Yue Min Jun “The Tao of Laughter”

  6. Witness miracles!LuChen in South Korea

Most Popular

Opinions

  1. Maintaining multiple perspectives on China
  2. Commentary: Does China need to buy more gold?
  3. Overcrowded holidays call for gov't management
  4. Editorial: US accusations politicized
  5. Allure of literature prize strong for China
  6. New road rule marks first step to orderly society
  7. Romney's post-debate bounce could soon fade
  8. War with Syria would be great mistake for Turkey
  9. Why being a runt can be an advantage
  10. Govt aid needed for solar firms to survive

What's happening in China

Bike rental starts off in low gear

  1. Wrongly institutionalized demand fairer diagnoses
  2. 40% in city lose sleep over stress
  3. Poisoned German sailor rescued off E China
  4. 'Red Song' detention appealed
  5. Fairer system to give hope to organ seekers

China Features

  1. Can 'Golden Week' be more relaxing?
  2. 'Gangnam Style' receives criticism
  3. Mid-Autumn Festival is more than mooncakes
  4. Oregon official: We welcome Chinese investors
  5. Mid-Autumn Festival Keywords

PD Online Data

  1. Ministry of Water Resources
  2. Ministry of Railways
  3. People's Bank of China
  4. Ministry of Health
  5. Ministry of Culture