Page 173 - Commodity News
Covid-19 impact: Gold imports down 57% to $6.8 bn in first half of FY21
Silver imports during April-September 2020 too dipped 63.4 per cent to USD 733.57 million (about Rs 5,543 crore), the data showed
 "Covid-19 impact: Gold imports down 57% to $6.8 bn in first half of FY21")
Gems, jewellery exports may dip 20-25%; growth expected by FY22: GJEPC
The gems and jewellery export is expected to decline by 20-25 per cent this fiscal year compared to 2019-20 due to the disruptions caused by the Covid-19 pandemic, GJEPC said on Saturday
 "Gems, jewellery exports may dip 20-25%; growth expected by FY22: GJEPC")
OPEC+ fears second Covid-19 wave could lead to oil surplus in 2021
Such a surplus could threaten plans by OPEC, Russia and allies, known as OPEC+, to taper record output cuts made this year by adding 2 million bpd of oil to the market in 2021
 "OPEC+ fears second Covid-19 wave could lead to oil surplus in 2021")
India's diesel sales exceed year-ago level ahead of festive season
Sales by India's top three fuel retailers rose 8.8 per cent from a year earlier during the first half of October to 2.65 million tons, according to preliminary figures
 "India's diesel sales exceed year-ago level ahead of festive season")
After petrol, diesel demand returns to pre-Covid-19 levels in October
After petrol, diesel demand has returned to pre-Covid-19 levels as sales rose 8.8 per cent in the first half of October from a year ago, preliminary industry data showed
Gold prices today at Rs 53,740 per 10 gm, silver trends at Rs 61,000 a kg
In New Delhi, the price of 22-carat gold remained at Rs 49,260 per 10 gm, and in Chennai, it climbed to Rs 48,350
OPEC+ panel discusses weaker oil demand outlook, Libya supply rise: Report
On Thursday, OPEC Secretary General Mohammad Barkindo told a conference that demand was recovering at a slower pace than expected
Trading strategies for zinc and nickel by Tradebulls Securities
On the daily scale, Zinc has witnessed a crossover of 20 and 50 EMA, suggesting fresh sign of bullishness
 "Trading strategies for zinc and nickel by Tradebulls Securities")
Gold prices today at Rs 53,730 per 10 gm, silver trends at Rs 62,000 a kg
In New Delhi, the price of 22-carat gold remained at Rs 49,250 per 10 gm, and in Chennai, it climbed to Rs 48,360
Govt allows ADNOC to trade 50% of oil stored in Indian strategic reserves
The Union Cabinet on Wednesday allowed Abu Dhabi National Oil Co (ADNOC) to trade half of the crude oil it has stored in Indian underground strategic reserves.
 "Govt allows ADNOC to trade 50% of oil stored in Indian strategic reserves")
Govt buys 5.56 million tonnes kharif paddy at MSP in last 18 days
The Centre on Sunday said about 5.56 million tonnes of kharif paddy worth Rs 10,500 crore has been purchased at minimum support price (MSP) from 4.80 lakh farmers in the last 18 days.
 "Govt buys 5.56 million tonnes kharif paddy at MSP in last 18 days")
India's diamond exports to dip by a quarter; slump worse than 2008 crisis
The measures to control the pandemic meant production centers were closed or operating at very low levels, and rough-diamond imports fell in line with poor end-product demand
 "India's diamond exports to dip by a quarter; slump worse than 2008 crisis")
Expecting demand bump in festive season, oil companies ramp up refining
Indian Oil Corp., the nation's top processor, is currently operating its refineries at an average rate of 86% of capacity, compared with 66.7% in August
 "Expecting demand bump in festive season, oil companies ramp up refining")
Stockpiles of unsold iron ore at mine-heads are increasing: FIMI
FIMI has said that stockpiles at mine-heads are increasing and not allowing their export will amount to complete wastage of a material which can earn valuable foreign exchange for the country
 "Stockpiles of unsold iron ore at mine-heads are increasing: FIMI")
Corn farmers in 5 states reap benefits from farm interventions: Corteva
Corteva Agriscience on Tuesday claimed that its farm intervention in five states, like Maharashtra and Karnataka, helped smallholding farmers growing corn reap benefits
 "Corn farmers in 5 states reap benefits from farm interventions: Corteva")
Gold prices today at Rs 54,330 per 10 gm, silver trends at Rs 63,800 a kg
In New Delhi, the price of 22-carat gold remained at Rs 49,800 per 10 gm, and in Chennai, it climbed to Rs 48,870
 "Gold prices today at Rs 54,330 per 10 gm, silver trends at Rs 63,800 a kg")
India's cotton crop estimates for 2019-20 raised to 360 bales: Association
The Cotton Association of India (CAI) has increased its cotton crop estimate for 2019-20 to 360 bales of 170 kg each
 "India's cotton crop estimates for 2019-20 raised to 360 bales: Association")
US election outcome, Libyan crude return can change oil market dynamics
The fragile state of US shale producers could mean the majority of supply growth next year will be driven by OPEC+
 "US election outcome, Libyan crude return can change oil market dynamics")
Gold prices today at Rs 53,970 per 10 gm, silver trends at Rs 62,910 a kg
In New Delhi, the price of 22-carat gold remained at Rs 49,610 per 10 gm, and in Chennai, it climbed to Rs 48,820
Commodity picks: 12 October, 2020
Festive demand will keep buyers active, while limited availability will support prices
 "Commodity picks: 12 October, 2020")