Page 245 - Commodity News

India's crude steel output rises 8% at 9 million tonne in July: Report

China's crude steel production for July stood at 81.2 MT, an increase of 7.2 per cent as compared to 75.7 MT in the same month of 2017

Aluminium exports rise 16% in April-June on global supply constraints

International prices of aluminium firmed up by 18.3% year-on-year in Q1 of FY19

Mines ministry's ultimatum to states: Explore lapsing blocks by December

Of 288 blocks expiring by March 2020, 59 are operative

Import restriction on peas to stay as Madras HC upholds DGFT notification

Madras HC upheld the DGFT notification dated April 25 imposing a restriction on peas import till September 30, 2018

Rajasthan agricultural traders plan 5-day strike from Saturday

In Rajasthan, the trade agents are paid 2 per cent margin for commodities they handle

Karnataka's small, medium miners plan to float pellets and steel company

While welcoming the miners' decision, the Federation of Indian Mineral Industries (FIMI) South said that this value addition will be good for the industry

NMDC increases price of lump ore, iron ore fines by Rs 150 a tonne

Unlike in the past, this price hike will also include the company's mines in Karnataka, said company officials

SAIL closing in on NMDC's iron ore capacity

NMDC, which is also expanding it's capacity, had an iron ore mining capacity of 43 million tonnes in 2017-18

Sterlite closure hits copper production, imports up 221% in June quarter

From net exporter, India becomes importer of Copper

Gold bulls may have to wait a bit longer for the great short squeeze

But the rally on Friday may not be the short squeeze the bulls had been waiting for

Axis Securities offers commodity futures trading to its customers on MCX

ASL has also applied for membership to the NCDEX to make available to its customers commodity futures currently active on this exchange

Commercial mining will end coal shortage: Former CIL chief P Bhattacharya

Anything short of faster opening up of the coal sector to commercial mining was inadequate as a policy response, Bhattacharya said

Kerala floods: Gold demand to see big dent, old jewellery sales may rise

In flood-hit areas, the first priority of people is rehabilitation and gold could be the first asset they en-cash

How Maharashtra APMC amendment could push traders away from markets

The amendment has also done away with the process of the requirement of separate licenses considering the entire state as a single market

Gold prices zoom by Rs 250 at bullion market on global cues, festive demand

Globally, gold rose 1.75 per cent to $1,205.30 an ounce and silver gained 2.14 per cent to $14.77 an ounce in New York

After lack of orders, govt extends sugar export quota date to December-end

The latest notification from the ministry of food also said the actual export might be completed in the coming sugar season

National aluminium policy needed to strengthen output: Nalco CMD

'India needs to double its per capita consumption, increase applications of aluminium and go for 75 per cent value addition,' Chand said

DGFT relaxes norms on import of yellow peas; move may help small importers

"The govt's decision to allow import (up to) 125 tonnes of yellow peas would help small pulses importers to recover the advances they had paid to overseas importers."

Gold import seen shrinking 15% in 2018, despite festive jewellery push

Most of the consumer demand is for light-weight variety, and investment demand for gold is sluggish due to rising interest rates, tighter credit norms, among other factors

Turmoil in emerging markets has Opec on alert; Saudis likely to be cautious

The oil cartel has memories of the impact of 1997 Asian crisis when it boosted output, ignoring a crisis brewing in emerging markets that led to benchmark oil prices falling below $10 a barrel