FOREX: The euro fell to a near 12-year trough against the yen and plumbed record lows versus the Australian dollar, starting the week under pressure from fears that Spain may eventually need a full sovereign bailout.
FOREX-Euro feels Asia heat as Spanish fears prevail
TOKYO, July 23 (Reuters) - The euro was hammered to a near 12-year trough against the yen and plunged to record lows versus the Australian dollar on Monday, starting the week under strong pressure from fears that Spain may eventually need a full sovereign bailout.
Such was the lack of market confidence that Spanish bond yields hit their highest levels since the euro was created, even as euro zone finance ministers approved the terms of a loan of up to 100 billion euros on Friday for Madrid to recapitalise its banks.
China's tight job market defies economic downturn
Workers living through the slowest run of global economic growth in more than three years are in fear for their jobs everywhere except in the very place investors are most concerned about - China.
Second Spanish region reaches out for aid –paper
Tiny Murcia on Sunday became the second Spanish region to say it would tap an 18-billion-euro ($22 billion) government programme to keep its finances afloat, while media reported half a dozen governments are ready to follow in the footsteps of Valencia.
U.S. CFTC-Funds extend bullish natgas bets
Money managers, including hedge funds and commodity trading advisers, raised their net long position in natural gas futures, options and swaps for the fourth week in a row, data from the U.S. Commodity Futures Trading Commission showed on Friday.
UK risks 'botching' clean energy market reform-MPs
The British government's proposals to decarbonise the country's electricity market are flawed and ministers should rework the suggested market mechanism over the summer to salvage the reform, an influential group of politicians said on Monday.
Lightning sparks Nebraska wildfire amid drought
A wildfire sparked by lightning strikes in tinder-dry rangeland swept through a remote village and has burned about 150 square miles (388 square km) in north-central Nebraska.
GRAINS: Chicago corn and soy slid after marking record highs last week, tracking declines in broader markets as worries on Europe's debt woes festered, though relentless heat in the U.S. grain belt continued to destroy crops.
OIL: Brent crude slipped to $105 per barrel as fears about the global economy returned to the forefront due to worries that Spain may not be able to avoid a costly sovereign bailout, which could impact oil demand.
Euro Coal-Physical prices rise, China returns to spot market
LONDON, July 20 (Reuters) - Physical prompt coal prices rose slightly on Friday in thin trade on steady demand from Asia and China's return to the spot market.
"Prices are still in a range, tracking oil to a degree but overall it's typically-slow summer trading," one European trader said.
Asia Coal-Prices slip below $88/T on surplus, weak demand
SHANGHAI, July 20 (Reuters) - Prompt Australian thermal coal prices slipped lower to stand below $88 a tonne during the week, pressured by a persistent oversupply in the seaborne traded market and low bids from top consumer China, trade sources said on Friday.
"It is probably going to be around two months before falling inventories spark a decent buying interest for winter supplies," said a Singapore-based trader.
China's June coal imports up 65 pct on yr - customs
SHANGHAI, July 23 (Reuters) - China's coal imports in June jumped 64.7 percent from year ago to reach 22.53 million tonnes, official customs data showed on Monday.
Total shipments in June were also higher than the 20.53 million tonnes recorded in May.
COLUMN-Aluminium's enigma machine cranks up again
--Andy Home is a Reuters columnist. The opinions expressed are his own--
LONDON, July 20 (Reuters) - What is going on with the aluminium spreads on the London Metal Exchange (LME)? The benchmark cash-to-three-months period was valued Thursday at $19 per tonne contango. As recently as May it was trading at $40 contango.
The tightest part of the period is the September-October spread , which was valued at $4.5 backwardation.
Anglo American says Q2 iron ore, copper up
LONDON, July 20 (Reuters) - Global miner Anglo American posted a rise in second quarter output for its key commodities, with iron ore and copper helped higher by production ramp ups at the flagship Kolomela and Los Bronces mines, while platinum and diamonds were weaker.
Anglo announced production results for the second quarter just a day after a major reshuffle at its South African units that included a new bosses for platinum, Kumba Iron Ore and thermal coal units, triggered by the departure of Neville Nicolau from the helm of Anglo American Platinum . He will be replaced by Kumba's Chris Griffith.
Global steel output dips in June - Worldsteel
LONDON, July 20 (Reuters) - Global steel output slipped in June as the industry grapples with weak demand and falling prices, data from an industry body showed on Friday.
Crude steel production declined by 0.1 percent to 128 million tonnes in June, compared with the same month a year earlier, according to data from the World Steel Association (Worldsteel).
June's daily aluminium output drops to 67,700 T -IAI
LONDON, July 20 (Reuters) - Daily average primary aluminium output in June dropped to 67,700 tonnes compared with 67,900 in May and 70,000 in June 2011, figures from the International Aluminium Institute (IAI) showed on Friday.
Total production in June was 2.030 million tonnes, compared with a revised 2.106 million tonnes in May and 2.099 million tonnes in June 2011.
Iron Ore-Shanghai rebar falls over 2 pct to new low
SHANGHAI/BEIJING, July 23 (Reuters) - China steel futures fell over 2 percent to a record low of around 3,650 yuan ($570) a tonne, with their outlook darkened by high stockpiles and tepid demand.
"Obviously we are hoping that there will be some stimulus from the government but I personally don't think we will get anything soon - they are just relying on measures like interest rates to try to improve demand," said a manager with an international iron and steel trading firm in Beijing.
Copper market in 384,000 T deficit Jan-April 2012-ICSG
July 20 (Reuters) - The global market for refined copper was in a 384,000-tonne deficit from January to April 2012, up sharply from a 26,000-tonne deficit during the same period of 2011, the International Copper Study Group said Friday.
World refined usage stood at 6.948 million tonnes for the first four months of the year, while production reached 6.564 million tonnes, ICSG said in its latest monthly bulletin.
Chinese near term copper demand may rise -Aurubis
HAMBURG, July 20 (Reuters) - A revival of Chinese copper demand in the second half of 2012 is expected to help boost the global market when the outlook for European demand is less promising due to the euro zone crisis, Aurubis , Europe's biggest copper smelter, said.
London Metal Exchange copper prices have generally been rangebound between $7,500 and $7,700 a tonne in the last month "without indicating a clear direction", Aurubis said on Friday.
BASE METALS: Copper prices retreated amid growing concerns of a spreading debt contagion in the euro zone as Spain risks becoming the fourth country in the bloc to seek a sovereign bailout, denting the outlook for metals demand worldwide.
PRECIOUS METALS: Gold edged lower under the pressure of a stronger dollar, as worries about the euro zone debt crisis deepened after Spain stoked fears that it might need a sovereign bailout.
METALS-Shanghai copper at lowest in over 1 mth on demand fears
SHANGHAI, July 23 (Reuters) - Copper prices retreated on Monday amid growing concerns of a spreading debt contagion in the euro zone as Spain risks becoming the fourth country in the bloc to seek a sovereign bailout, denting the outlook for metals demand worldwide.
Worries about the health of the global economy pushed Shanghai copper futures down more than 2.5 percent, bringing prices to their lowest since June 29. The most active November copper contract dropped as low as 54,540 yuan ($8,600) per tonne, its biggest percentage fall since June 4, before recovering some ground by the midday trading break.
PRECIOUS-Gold inches down on heightened Spain worries
SINGAPORE, July 23 (Reuters) - Gold edged lower on Monday under the pressure of a stronger dollar, as worries about the euro zone debt crisis deepened after Spain stoked fears that it might need a sovereign bailout.
Spain's woes, highlighted by two indebted regions seeking financial aid from the central government, drove the euro to a two-year trough against the dollar, which strengthened the greenback and made gold and other commodities priced in the U.S. currency less attractive.
Slow shipping activity pushes Baltic index lower
July 20 (Reuters) - The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry commodities, fell on Friday as sluggish shipping activity in the Atlantic and Pacific basins weighed on rates.
"Not a huge amount of activity has been seen in the Pacific. Rates are unexcitingly consistent," broker firm Braemar Seascope said in a note.
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