Asian stocks slipped, while European equities are likely to open lower after the Federal Reserve disappointed some investors with only a limited expansion of monetary stimulus and a survey showed China's vast factory sector slowed for an eighth month running. U.S. stocks edged lower on Wednesday after the Federal Reserve acted to aid the fragile economy with stimulus measures that were in line with market expectations but went no further.
FOREX-Dollar resilient after Fed largesse, euro slips
SINGAPORE/SYDNEY, June 21 (Reuters) - The dollar held above a one-month low against a basket of major currencies, no worse for wear even after the Federal Reserve delivered another dash of monetary stimulus and said it was ready to do more if necessary.
Dollar bears were stopped from rampaging by the fact the Fed stopped short of launching a more aggressive programme of buying bonds outright, or QE3, which some in the market had expected, traders said.
U.S. corn fell as investors took profits after stellar gains earlier in the week, while disappointment that the U.S. Federal Reserve did not introduce more aggressive stimulus measures to boost the economy also dragged down grains prices.
Brazil mid crop cocoa harvest still accelerating
Brazil's main cocoa state Bahia looks near to peak flow in the mid crop harvest, with deliveries to warehouses of 102,434 60-kg bags (6,146 tonnes) in the last week, a third more than the same week last year, Bahia Commercial Association data showed.
India can export 2-3 mln T of wheat to Iran
India could export up to 3 million tonnes of wheat to Iran if supplies are requested, Food Minister K.V. Thomas said on Wednesday, as India seeks to reduce huge wheat stocks and help settle payment for a large oil import bill.
Nigerian millers see more demand for U.S. wheat
Nigerian flour millers, key buyers of U.S. wheat, continue to need more U.S. supplies despite efforts by the Nigerian government to reduce reliance on foreign wheat imports, top Nigerian milling executives said on Wednesday.
The dollar held above a one-month low against a basket of major currencies, no worse for wear even after the Federal Reserve delivered another dash of monetary stimulus and said it was ready to do more if necessary.
Brent crude fell to its lowest in 18 months at around $92 a barrel on demand growth concerns as China's factory sector slowed and as the U.S. Fed's stimulus plan dashed hopes for more aggressive steps to boost the world's top economy.
May daily aluminium output 67,900 T - IAI
LONDON, June 20 (Reuters) - Daily average primary aluminium output in May dropped to 67,900 tonnes compared with a revised 68,100 in April and 69,900 in May 2011, provisional figures from the International Aluminium Institute (IAI) show.
Total production in May (31 days) was 2.104 million tonnes, compared with 2.043 million tonnes in April (30 days) and 2.168 million in May 2011.
China says rare earth price gap based on quality, customs
BEIJING, June 20 (Reuters) - China denied on Wednesday that it interferes with prices on the global rare earths market amid a trade dispute with other major economies, saying product quality variations account for the price gap between the metals it produces for export and domestic use.
In March, the European Union, United States and Japan complained to the World Trade Organization that Beijing, which has a monopoly over world supplies of the mineral, illegally choked exports while holding down prices for domestic manufacturers.
China copper imports seen hurt by credit easing, regulatory moves
BEIJING, June 20 (Reuters) - Copper imports by China, the top consumer of the metal, could fall in the next few months even as the world's second-largest economy gradually recovers, since easier credit will reduce demand for copper used for trade financing.
Beijing unexpectedly cut interest rates this month to counter a sharpening economic slowdown. Previous moves since November to reduce the amount of cash banks are required to hold as reserves have also boosted bank lending.
China considers adding metals to stockpile plan -sources
HONG KONG, June 20 (Reuters) - China's state economic planner is considering ways to reshape the country's programme of stockpiling strategic materials and could include metals such as rare earths, tungsten, indium, molybdenum and tin, two sources with knowledge of the plan said.
Additional stockpiling moves by China, the world's top copper buyer and second largest oil consumer, would be certain to benefit commodities prices, which have lost 9 percent this year, battered by bleak prospects for the global economy.
Global steel production growth slows in May
Global steel production growth slowed in May, data from an industry body showed on Wednesday, with output expected to remain sluggish in the coming months as weak economic growth erodes demand.
Australia industry struggling outside mining boom -survey
Australian industry not lucky enough to be leveraged to the country's mining boom continued to struggle this quarter under the weight of a high currency and a darker global outlook, a survey showed on Thursday.
Copper hit one-week lows after investors saw their hopes for more aggressive stimulus measures by the U.S. Fed dashed and worried Spain's borrowing costs would soar, flagging the risks of shaky euro zone finances to the global economy.
Gold slipped for a third straight day after the U.S. Federal Reserve stopped short of launching another round of quantitative easing to stimulate the economy, a move that could have boosted bullion's appeal in times of uncertainty.
METALS-Copper down after Fed disappoints, China data glum
SHANGHAI, June 21 (Reuters) - Copper hit one-week lows after investors saw their hopes for more aggressive stimulus measures by the U.S. Fed dashed and worried Spain's borrowing costs would soar, flagging the risks of shaky euro zone finances to the global economy.
While most investors expected the latest HSBC China Flash Purchasing Managers Index to fall under 50 again in June, the seven-month low number of 48.1 confirmed that economic growth in the world's top metals consumer was still slowing.
PRECIOUS-Gold falls for 3rd day, Fed disappoints
SINGAPORE, June 21 (Reuters) - Gold slipped for a third straight day after the U.S. Federal Reserve stopped short of launching another round of quantitative easing to stimulate the economy, a move that could have boosted bullion's appeal in times of uncertainty.
But lower prices were expected to attract purchases from jewellers in Asia, while a fragile U.S. economy and the debt crisis in Europe may eventually prompt the Fed to adopt more aggressive measures to help the economy.
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