Commodity News- 28-NOV-2011

Bullion News

'Think about silver before investing'

When I first discovered why I should buy silver and protect myself from the coming devaluation of our currencies, it still took me a few months to act because there is a lot of misinformation surrounding this precious metal.

'Gold stocks bounce back and outperform silver in 2012'

Gold stocks may have been under performing investor expectations for many months, but that could be changing very soon. Silver had that intermediate top early in the year with a parabolic blowoff move. Since then I've been focusing more on gold. In the near term and into next year it looks like gold is going to outperform silver. The larger gold stocks have been showing better performance than silver stocks and juniors, said Jordan Roy-Byrne in this exclusive interview.

India silver imports to be lower in 2011: Scotia Mocatta

Silver imports into India may be lower in 2011 as higher prices keep buyers at bay, an official of Scotia Mocatta said on Thursday. 2010 imports had stood at around 3030 tonnes.

Why a $1500/oz gold is on the cards

Traders are driving gold prices down in the knowledge that many positions are geared (leveraged) and exposed to margin calls. Other positions are protected by 'stop loss' instructions, so can be triggered by prices moving down through support levels.

Metals News

Commodities weaken on significant negative news flow

Lead has been the weakest metal since the start of the year compared to other metals as China has reduced the usage and production of lead-acid batteries due to environmental issues in the country. I expect prices to remain under pressure for the coming quarter.

'Supply surplus likely to keep tarnish on nickel'

Nickel is heading into a period of structural supply surplus and will also be affected by the vagaries of the global economy, said BNP Paribas in a briefing.

Mineral deposits under ocean not vast enough: Expert

The vast minerals deposits under the ocean is not expected to meet the world demand for metals, according to a study by Mark Hannington, the University of Ottawa’s Goldcorp Chair in Economic Geology.

Japan rolled copper output declines fourth straight month

Japan's October rolled copper output recorded the fourth straight Year-on-Year (YoY) decline, the Japan Copper and Brass Association reported. October output fell by 11.5% YoY to 64,318 tonnes. On a Month-on-Month basis, output is down 8% from September.

Oil & Oilseeds News

China's soybean imports dip on weak demand, high stock piles

On the back of higher stockpiles and weak demand for soybean, the imports of the commodity by China may dip for the first time since 2004.

Soybean farmers to have rust resistant seed variety soon

Soybean farmers may get new variety of genetically modified seeds in near term, which are rust resistant.

Argentina's soy bean production to gain 0.6% for 2011-12

Argentina, the third largest producer of soybean has estimated the production for 2011-12 to increase to around 49.5 million tons (mt) compared to 49.2 million tons in 2010-11, according to Rosario Grain Exchange.

India to import 9 mn tons of edible oil in 2011-12

Vegetable oil imports of India likely to rise by 9 million tons in 2011-12 to meet the growing domestic demand for the commodity, according to Solvent Extractors’ Association (SEA) source:-commodityonline.com