Page 230 - Commodity News

Page turns for paper companies as sales improve, demand picks up

Market leader JK Paper posted a 72 per cent jump in December quarter profit to Rs 120.26 crore this year, compared to Rs 69.81 crore in the corresponding quarter last year.

Oil rises to near 2019 highs, but global economic slowdown applies brakes

Despite the slowdown in economic growth that emerged in late 2018, oil prices have been driven up this year by supply cuts led by the Organization of the Petroleum Exporting Countries

Jewellery buyers defer purchases as gold hits all-time high on global cues

Footfalls drop sharply at retail outlets in Mumbai, as customers expect price fall in the days to come

Govt calls meeting next week on mandatory hallmarking of gold jewellery

Ram Vilas Paswan will chair the meeting to discuss the order the government wants to notify before Lok Sabha elections are announced.

Good news for jewellery exporters as banks revise financing norms

In the year since the Nirav Modi fraud came to light, all banks having tightened their financing to the sector

Iron ore output likely to hit record 225 million tonnes in FY20

Merchant producers in Odisha accelerating production with lease lapsing by March 2020

Sugar stocks surge after hike in MSP; operating margins may jump 3-4%

Even sugar price in Mumbai wholesale market jumped to Rs. 3,229 per quintal and was quoted at 4 per cent premium to MSP

Crude oil drops from 2019 highs as global economic concerns grip markets

Bank of America Merrill Lynch said in a note that the Sino-American trade dispute was hurting economic growth globally

India's sugar output seen falling below 30 mt in 2019-20 on dry weather

A drop in harvest for a second year will potentially cut overseas shipments and support global prices that fell 21 percent in 2018

Gold trades near all-time high on escalating cross-border tension

In Mumbai's Zaveri Bazar, standard gold closed at Rs 33,365 per 10 gram, a price higher than previous close of Rs 33,265, seen in November 2013

Domestic aluminium firms differ on protective steps to curb rising imports

The secondary aluminium players see no change in their business situation at least in the near term

Sugar crisis: CM Yogi refers to global price crash, export squeeze

Slams previous UP governments for selling government operated sugar mills

Commodity Picks: 18 February, 2019

Barley is trading at Rs 1,946 per quintal in the Jaipur market

Gold imports dip 5% to $26.93 bn in April-Jan period on weak global cues

After recording negative growth for three consecutive months -- October, November and December 2018, the imports grew by 38.16 per cent to $2.31 billion in January this year

Jewellers going back to traditional handcrafted ornaments to fetch premiums

Heavy machinery costs, changing mindset of consumers responsible for the shift, say experts

7% hike in sugar MSP to put pressure on private mills to clear arrears

While the hike improves the realisation of beleaguered mills, with outstanding for current 2018-19 crushing season rising to almost Rs 22,000 cr, it remains below average production cost

GMS 2.0: Banks' participation key to success

The scheme's inability to convince big players like temples has to be sorted on a war footing

Govt hikes sugar MSP by 7% to Rs 31 a kg; mills to get Rs 6,000-cr benefit

Announcement comes as relief for mills burdened by sugarcane arrears

Valentine's Day: Love doubles rose prices; flowers imported for first time

Prices double as wedding season overlaps with Valentine's Day

Commodity watch: Current consolidation in gold good for future uptrend

According to data from the World Gold Council, central banks bought 651.5 tonnes of gold last year, the largest increase in global reserves since 1971.