Korean copper premiums rise
South Korea's copper cathode import premiums for spot delivery have risen $5 a tonne to $40-$45 in April from a month ago due to tight supplies in the local market, traders said on Wednesday. Traders attributed tightness in the domestic market to LG Industrial Systems Co Ltd's maintenance shutdown in March and apick-up in local demand for spot delivery. "We expect local demand for spot delivery will remain firm throughout this year," said a senior trader with a trading firm. Uncertainties over the country's economy had made local importers reluctant to commit enough metal for the 1999 term contracts with foreign suppliers. They were now operating on a hand-to-mouth basis, the trader said.

Malaysian palm oil up
Malaysia's palm oil production was estimated to rise by 11 to 12 per cent in April from March's 7,03,322 tonnes, crop forecaster Ivan Wong said on Wednesday. Wong projected the April output at between 7,82,000 and 7,87,000 tonnes. He forecast stocks at end-April at 7,75,000 tonnes compared with 7,16,328 tonnes at end-March. Exports were projected at 6,40,000 tonnes in April against 6,18,109 tonnes in March. Malaysian palm oil supply-demand estimates and projections as of April 21, 1999.

CCC seeks 6,27,600 t wheat
The Commodity Credit Corporation said it was tendering for a total of6,27,600 tonnes of wheat for export donations. Offers were due on April 27. No destinations were named in the tender. The shipment period was for May 10 to July 15. All whole grain wheat bagged or bulk must be tested for vomitoxin, the CCC said, which is part of the US. Department of Agriculture. The tender was divided into nine offers which included up to 2,98,000 tonnes of no 2 or better hard red winter wheat of various protein levels, 3,000 tonnes of no 2 or better hard amber durum wheat, 1,13,200 tonnes of no 2 or better northern spring, dark northern spring wheat and 213,400 tonnes of no 2 or better soft red wheat.

Cyprus tenders for 25,000 t barley
The Cyprus Grain Commission tendered on Wednesday for the purchase of 25,000 tonnes feed barley and said that it may buy an additional 25,000 tonnes if the price was satisfactory. Tenders for the issue close at midday on April 30 and will be valid for six hours instead of the normal four, the commission said in a statement. Shipment periods forthe cargo should be May 15 to 30 from Europe, May 20 to June 5 from the Black Sea and May 5 to 20 from the US.

East Asia oil products surplus
Oil product supplies in East Asia are expected to surpass demand until 2006, due to slower growth in demand in the wake of a prolonged recession and excess oil refining capacity, Japan's ministry of International Trade and Industry (MITI) said on Wednesday. Oil refining capacity will continue to expand in Asia while demand for oil products is likely to shrink, the ministry said in a report. This will provide countries like South Korea, Indonesia and Thailand with more capacity to export oil products, MITI said.

Europe gold weak
Gold opened softer in Europe on Wednesday with traders saying prices could lose their footing and drift lower to $282.00 an ounce. Silver opened little changed from its close on last Tuesday, though dealers said it could move up to $5.20 as underlying support was stronger than for gold. Palladium, which hit an 11-monthhigh on last Tuesday, opened well short of Wednesday's $385.00.