Tracking a weakening global trend, copper prices declined by Rs 2.30 to Rs 416.55 per kg in futures trade today as speculators offloaded their positions.

Copper sheds 0.55% on weak global cues

Press Trust of India

Lead prices traded lower by Rs 1.20 to Rs 108.10 per kg in futures trade today, as speculators offloaded their positions following sluggish demand in the spot market and weak trends overseas.

Lead sheds 1% on sluggish demand

Iranian buyers have defaulted on payments for about 200,000 tonnes of rice from their top supplier India, exporters and rice millers said on Tuesday, a sign of the mounting pressure on Tehran from a new wave of Western sanctions.

Iran defaults on payments to Indian rice traders

Reuters 

The fall of Rs 2,500 a tonne in global steel prices since the beginning of the new calendar year has left the Indian steelmakers worried.

Domestic steelmakers fear dumping as global prices fall

Business Standard

Iron ore prices are likely to harden in the domestic market in the next few months owing to shortage of the commodity in Karnataka. The supply from Karnataka, about 25 per cent of the national output, is likely to decline if the Supreme Court accepts the recommendations of the Central Empowered Committee (CEC), for putting a cap on production at 30 million tonnes per annum (mtpa).

Iron ore prices likely to increase on supply shortage

Potato futures prices today rose for the second straight day by adding Rs 3.20 to Rs 755 per quintal, as traders enlarged their positions due to pick-up in spot demand supported by the ongoing marriage season.

Potato up 0.4% on higher demand

Mentha oil futures prices shot up by Rs 9.30 to Rs 1518.60 per kg today, as speculators created fresh positions after pick-up in demand from pharmaceutical units in the spot market.

Mentha oil up 0.6% on spot demand

Nickel futures prices fell by Rs 1.60 to Rs 1,071.50 per kg today, as speculators booked profits at existing higher levels, driven by sluggish demand from alloy-makers in the spot market amid weak trend in it prices in global markets.

Nickel falls marginally on profit-booking

Lead prices traded marginally up by 0.28% to Rs 107.40 per kg in futures market today, due to pick-up in demand from battery-makers in the spot market and a firming global&nbsp; trend.

Lead gains 0.28% on spot demand

Copper prices traded higher by 0.20% to Rs 422.10 per kg in futures trade today as speculators created fresh positions on firming global trend.

Copper up 0.2% on firm global cues

Crude palm oil futures prices traded higher by Rs 2.10 to Rs 524.50 per 10 kg today, as speculators enlarged their positions on the back of pick-up in demand in the spot market amid firming global trend.

Palm oil up 0.4% on global cues

Cardamom futures prices moved up by Rs 9.70 to Rs 723.60 per kg today on pick-up in demand in view of marriage season against restricted arrivals from producing region.

Strong spot demand pushes Cardamom up 1.36%

Crude oil futures prices today rose by Rs 25 to Rs 4,884 per barrel, as speculators created fresh positions, tracking a firming global trend.

Crude oil up 0.5% on MCX on global cues

Buoyed by a firming global trend, zinc futures prices inched up by 0.38% to Rs 104.40 per kg today as speculators created fresh positions.

Zinc up on strong overseas trend

Gold and silver futures prices traded higher today, on firm global trends and fresh postions created by speculators.

Bullion futures rise on global cues

At a time when cotton output estimates in India have been lowered to 34.5 million bales (170 kg each), the production of short-staple variety of cotton in most parts of the country is likely to fall on unfavourable weather conditions during sowing season.

Short-staple cotton imports may rise to meet denim requirements

An expert committee on sugar decontrol, headed by PMEAC Chairman C Rangarajan, is expected to submit its report in next six months, Food Minister K V Thomas said today.

PMEAC likely to finalise report on sugar decontrol in 6 months

Iron ore exports from Orissa, the country's biggest producer and third biggest exporter of this key steel making input, slipped significantly in January compared with December 2011 after the exports duty was raised to 30 per cent.

Orissa iron ore exports tank in January after duty hike

There is increasing jockeying for the power to regulate the emerging electronic spot commodity exchanges. The latest bid is from the Union agriculture ministry, which has said spot exchanges should come under their jurisdiction.

Turf war to regulate spot commexes hots up

At a time when cotton output estimates in India have been lowered to 34.5 million bales (170 kg each), production of the short-staple variety in most parts is likely to fall on unfavourable weather during the sowing season.

Short-staple cotton output likely to decline, denim makers may import 

According to figures released by the Indian Tea Association (ITA), output was up 21.92 million kg to 988 million kg till December, as against 966 million kg last year. The estimated year-end figure, however, fell short of tea players&rsquo; expectations of achieving production of one billion kg.

Tea production at record high in 2011, says ITA

Get the latest commodity market news and daily price updates on gold, silver, crude oil, and more. Stay informed with real-time trends and expert insights at Business Standard.

Page 1334 - Commodity News