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Weekly Report
Price movements in CPOTR are experiencing an increase of 4.41% in a week to the level of IDR10,660/Kg. In the circulating news according to the average estimate of six trading company dealers, the country of India carried out Imports of Indonesian and Malaysian palm oil in September to the highest level in a year with an estimated 21% jump from last month to 1.2 million tonne, the highest compared to the same month last year, due to strong demand ahead of the festival season added to the positive catalyst in vegetable market. In addition, Rajesh Patel, Managing Partner at GGN Research assessed that “palm oil is almost $300 per tonne cheaper than rival soybean oil for September delivery, so it is common for refiners to increase purchases.” Rajesh added “Projections for this October, India's palm oil imports will remain strong, around one million tonnes, as steep discounts continue.” Larger purchases could help Indonesia's top producer trim swelling inventories and help to push CPO prices further.
Weekly Report
ICDX gold prices rose by 2.46% compared to the previous week, supported by the retreat of dollar index and the referendum conducted by Russia on the territory of Ukraine triggering tensions between the two countries.
Weekly Report
Wednesday, 28 September 2022
Publication
ICDX tin prices strengthened near the close of September and were seen moving back around the level of $23,000 per tonne in line with the Chinese government's plan to announce infrastructure projects worth 1.8 trillion yuan (US$ 257 billion), a national policy to revive slowing economic growth due to Covid-19 pandemic.
Weekly Report
Thursday, 22 September 2022
Publication
Crude oil prices were observed to be bearish with a decline of 1.7% for the week ending September 16. The situation in China remains a major weighing on the sentiment, travel activity carried out during China's 3-day Mid-Autumn Festival fell by more than a third compared to last year.
Weekly Report
Price movements on CPOTR experienced a downward trend of 9.97% to the level of IDR 10.835/Kg. In the news circulating, China has again implemented a regional lockdown due to China’s zero Covid policy implementation. Major cities such as Shenzhen in the south and Dalian in the northeast have also stepped up Covid restrictions this week, ranging from work-from-home requirements to the closure of entertainment businesses in some districts. This can disrupt demand because China is one of the world's largest CPO consumers.
Weekly Report
ICDX’s gold price experienced -1.59% lower than previous week as Fed Chairman Jerome Powell's speech hints at a hawkish tone, rising expectations for more interest rate hikes.
Weekly Report
ICDX tin price at the close of August 26 moved up from last week to the level of $25,200.00 per tonne, the improved performance of Tin was due to the Chinese government's support for the mining sector.
Weekly Report
Wednesday, 24 August 2022
Publication
The movement of ICDX crude oil contract prices throughout the third week of August was observed to move up by 1.46 percent, with a price range in the range of USD 87-90 per barrel. At the beginning of the week, prices were under pressure, weighed by the escalating tension between China and the US, which was triggered by the visit of US House of Representatives Speaker Nancy Pelosi to Taiwan (14/8), and led to fears of a resumption of the tariff war between the two world economic giants.
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