Commodity News - Expand All
[$$] Treasurer: Independents Will Take Part in Mining Tax Talks
[at The Wall Street Journal] - Independents Want Part in Mining Tax Talks Australia s treasurer said non-party lawmakers who helped Labor secure office will be involved in the final design of a plan to tax mining companies profits.

Rio Tinto reportedly cuts Q4 iron-ore prices
[at MarketWatch] - Anglo-Australian mining giant Rio Tinto Ltd. has reportedly agreed to a 13% cut in the price it will receive for its iron ore from Japanese steel makers during the fourth quarter. The Nikkei reported Wednesday that Rio Tinto will receive around $127 per ton for iron ore shipped to the steel makers, with weaker demand from China the primary reason for the price drop.

Crude Oil to Decline, Natural Gas to Gain
[at TheStreet.com] - Crude oil is expected to fall, while natural gas could gain during the week.

Bottleneck in Brazil boosts price of sugar
[at Financial Times] - Sugar prices rallied to a six-month high on the back of extremely strong physical demand and export bottlenecks in Brazil, the world s largest exporter, where more than 100 ships wait to upload.

Futures Movers: Crude-oil futures slump on European concerns
[at MarketWatch] - Crude oil futures drop, as U.S. traders return from a long holiday weekend to be met by concerns over European banks and economic growth.

NYMEX-Crude ends down, cuts losses on Mexican refinery blast


Molycorp, China Natural Gas: Biggest Price Gainers (MCP, CHNG)
[at The Wall Street Journal] - Molycorp, China Natural Gas: Biggest Price Gainers Markets Data Center: Biggest Price Gainers.

Summary Box: UK oil argues against drilling ban
[AP] - OPPOSITION TO BAN: The CEO of a British oil and gas industry association says the U.K. does not need to halt drilling in the North Sea.

Today in Commodities: Shortened Trading Week


Spot Gold Prices Rebound on Europe Fears
[at TheStreet.com] - Spot gold prices rebound Tuesday afternoon as investors turn to the yellow metal s safe haven attributes amid continued pressure on stocks.

METALS-Risk aversion drags copper away from 4-mth peak


Gold Prices Set New Record Close
[TheStreet.com] - Gold prices were rallying towards their record high Tuesday as investors turned to the safe-haven asset.

Metals Stocks: Gold notches new record on European bank worries
[at MarketWatch] - Gold futures carve out a new settlement high Tuesday after investors bought up the precious metal and sold stocks, oil and the euro on renewed worries about European banks and economic growth.

Wheat trading jumps on Russia crisis
[at Financial Times] - Russia s worst drought on record has breathed life into the European wheat contract, sending trading volumes up fourfold in July and August as traders scrambled to use the European benchmark to hedge price risk.

MPs warned on deep sea drilling ban
[at Financial Times] - Preventing the drilling of wells in the waters of the UK continental shelf would send a very negative message to investors in the oil industry, the head of Oil and Gas UK, the industry body, has warned.

Metals Stocks: Gold reaches for record on European bank worries
[at MarketWatch] - Gold futures attempt to notch a new closing high, as investors buy up the precious metal on renewed worries about European banks and economic growth.

This Weeks Most Overbought (Oversold) Commodities


Fulcrum Bioenergy begins work on ethanol plant
[AP] - Fulcrum BioEnergy Inc. will begin construction and engineering work on a new plant in Nevada to convert household garbage into ethanol fuel.

Metals Stocks: Gold flirts with record on European bank worries
[at MarketWatch] - Gold futures attempt to notch a new closing high, as investors buy up the precious metal on renewed worries about European banks and economic growth.

Metals Stocks: Gold futures rise on European bank worries
[at MarketWatch] - Gold futures are higher Tuesday, with investors seeking the safe-haven of the precious metal amid fresh concerns over European banks and economic growth.

Futures Movers: Crude oil futures slump on European concerns
[at MarketWatch] - Crude oil futures fall in synch with stocks on Tuesday, as U.S. traders returned from a long holiday weekend to be met by concerns over European banks and economic growth.

Mining deals poised for record year
[at MarketWatch] - More than 1,500 deals have been reported in the mining sector so far in 2010, according to data from Dealogic.