Commodities: Copper, energy futures sport biggest gains

Copper and energy futures paced gains, with the former exhibiting particular strength.

As of 1818 GMT, March 2017 copper futures were higher by 2.27% to $2.7075 a pound on COMEX.

In parallel, in overnight trading Chinese steel rebar futures edged lower to $500.6 per tonne, from $501.0 a tonne the day before, while spot iron ore rose from $78.2 a tonne to $81.1.

Among energy futures, NYMEX natural gas futures were up by 2.31% to $3.32/MMBtu as West Texas advanced 0.89% to $53.22 a barrel.

Precious metals prices meanwhile were mixed, with February 2017 gold futures down by 0.31% to $1,211.80/oz. on COMEX.

To take note of, the World Gold Council lowered its consumption estimate for India in 2016 to between 650 and 750 tonnes, versus 858 tonnes in 2015.

The WGC did not see Indian consumption returning to normal levels until 2018.

Spot platinum prices on the other hand saw large gains, rising by 2.05% to $1,002.52/oz..

Agricultural futures were mostly weaker, with CBOT traded March 2017 corn futures surrendering 1.83% to $3.6275 a bushel, while similarly-dated cotton #2 ICE futures fell 1.80% to trade at 73.29 US cents a pound.