Speculators reduced their positions, taking weak cues from overseas
Speculators trimmed their exposures
Subdued domestic demand also weighed on the metal prices
Speculators booked profits amid subdued domestic demand and weakness in base metals at the London Metal Exchange
Speculators created fresh positions driven by strong domestic and export demand in the spot market
Subdued domestic demand and weak trend in entire base metals pack in the overseas markets pull prices down
Ultra-low interest rates, fears of inflation have so far failed to propel prices out of the past year's sideways trading channel
Higher prices, lower availability among the reasons
Kuala Lumpur slashes export tax on palm oil processors and refiners seek import duty on crude and refined oil to stop expected surge
At present, sugar mills have to sell 10% of their produce at Rs 1,900 a quintal as levy obligation. The open market price is Rs 3,200 a quintal
Reports of lower output estimate this year further fueled the uptrend
The March delivery traded higher by Rs 3.30, or 0.47% to Rs 711.90 per quintal
The April contract shed Rs 1.45, or 0.33% to Rs 442.45 per kg
The January contract traded lower by 30 paise, or 0.24% to Rs 126.80 per kg