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COMMODITY UPDATES 8TH AUG

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August 8, 2012 News Highlights:  The U.S. API Weekly Crude Stock fell to a seasonally adjusted annual rate of -5.35M, from -11.61M in the preceding month in turn indicating that demand for the fuel in US, world’s largest consumer of crude oil is strong.  Crude oil output from Organization of Petroleum Exporting Countries (OPEC) fell 270,000 barrels per day (bpd) in July to 31.45 million bpd from 31.72 mbpd in June, raising supply concerns in the near future.  The Federal Ministry of Economy and Technology said that German manufacturing orders declined more than expected by 1.7 percent month-on-month in June against expectations of a drop of 0.8 percent which in turn curbed gains in copper by dampening demand outlook for industrial metal.  The European Central Bank is expected to start unlimited buying of stricken member states' bonds to drive down their crippling borrowing costs and shore up its faltering economy which in turn improved demand prospects for copper and c...
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COMMODITY RESEARCH NEWS

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August 9, 2012 News Highlights:  The Energy Information Administration said that U.S. Crude Oil Inventories fell more than expected to a seasonally adjusted annual rate of -3.729M, from -6.522M in the preceding month indicating that demand for the fuel in US, world’s largest consumer of crude oil is strong.  The German industrial production fell 0.9 per cent in June, more than forecasts for a 0.8 per cent decline, following an upwardly revised 1.7 per cent gain in May indicating a weakening euro zone crisis and further dampening demand prospects for copper and crude oil.  China's annual consumer inflation fell to a 30-month low of 1.8 percent in July from June's 2.2 percent creating more room for policy easing to support economic growth which in turn curbed losses in copper by improving demand outlook for industrial metal.  The U.S. dollar index, a measure of the value of the United States dollar relative to a basket of foreign currencies, ended 0.22 per cent higher ...
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