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Crude palm oil futures on Bursa Malaysia Derivatives fell sharply on a Tuesday, their biggest intraday drop in over seven years, on concerns about coronavirus demand in China. Dealers expect cautious trading next week, with prices in a RM2,800 to RM2,900 range.
Weekly declines across the futures curve reflect demand worries from China and a market waiting on Malaysia's January production data. Prices are likely to stay range-bound until the outbreak is contained.
focusmalaysia.myBernamaFeb 1, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Reports the biggest intraday drop in over seven years on coronavirus demand fears, a sentiment and demand shock within the move window.
Reports the record intraday drop in Bursa palm futures on China coronavirus demand fears, showing the same sentiment-driven selling that carried into Feb 3, though dated before the move.
