China's massive importation of soybean and rapeseed oil, including palm, is seen to cause a global imbalance in the production and supply chain of the commodity, Hamburg-based researcher Oil World said.
Hopes of a coordinated European bailout plan propelled copper futures to end sharply higher Tuesday, with December delivery reaching 15.65 US cents, or 4.5 per cent, to $US3.4395 per pound on the Comex division of the New York Mercantile Exchange.
Gold futures on Tuesday regained its foothold after a three-day slide on a weakened U.S. dollar and renewed investor confidence fuelled by encouragement that European fiscal regulators are working overtime on a bailout fund to address the region's debilitating sovereign-debt crisis.
Australia's interest rate futures have attracted the interest of most investors, who have considered them a safe haven from the European debt crisis.
