FOCUS: US polls keep Asian commodity markets on edge

Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States’ presidential election.

Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press. "It's not a sure-win for Biden now, especially since there are still some swing states that may prove to be a surprise," a trader in the US watching the election unfold told Fastmarkets on Wednesday November 4. To win, the candidates need to secure 270 out of a total of 538 electoral college votes allotted to 50 states and the District of Columbia, according to the US government's election website. The US presidential election is a key event for Asian commodity traders and market participants who have embarked on different strategies to ride out the exchange rate fluctuations and a possible stock market rally. Steel mills have abstained from...

Published

Lee Allen

Paul Lim

Miranda Song

Alex Theo

Li Min

November 04, 2020

09:00 GMT

Singapore, Shanghai