China, the biggest buyer of U.S. agricultural products, rejected more shipments of corn as Vice President Joseph Biden landed in Beijing to convey displeasure over a new air defense zone.
China, the world’s largest rubber user, may increase government stockpiles this week to support farmers and mop up oversupply after local prices slumped, Orient Futures Co. said.
Rubber fell for a second day, slipping from a two-month high, as political tensions eased in Thailand, the largest producer and exporter.
Steel reinforcement-bar futures in Shanghai rose for a third day after iron ore prices jumped to the highest level in three months as Chinese purchases continued to rise.
Korea Exchange Inc. will begin physical gold trading on March 24 as Park Geun Hye’s government seeks to wring tax revenue out of a market that’s dominated by illegal transactions.
Buyers in China, the second-biggest corn consumer, may halt purchases from the U.S. as quarantine officials reject more shipments with a non-approved genetically modified variety，said Yigu Information Consulting Ltd.
Rubber dropped from a two-month high, snapping a three-day winning streak amid concern that rising prices may sap demand from China, the largest consumer.
Steel reinforcement-bar futures in Shanghai traded near the highest level in six weeks on speculation that the Chinese economy is stabilizing.
Copper fluctuated between gains and losses, trading near a one-week low as signs the U.S. economy is strengthening stoked concern that the Federal Reserve may soon start tapering its stimulus.
Aluminum fell, trading near a four- year low, as stockpiles in London and Shanghai increased, indicating global supply exceeded demand for the metal used in everything from beverage cans to airplanes.
"Next month, we'll have a higher demand gap than we saw this month, and rents are bound to go up again."
- Brett Miller on Jul 29, 2013