Page 333 - Commodity News
India's $20 billion refinery expansion to cut fuel oil output
Indian refiners' expansion plans coincide with changing shipping fuel norms from 2020 requiring the use of low-sulphur fuels
 "India's $20 billion refinery expansion to cut fuel oil output")
Indian festive glitter fails to rub off on Asian gold demand
Gold prices in India were at a premium of up to $3 an ounce over official domestic prices this week
 "Indian festive glitter fails to rub off on Asian gold demand")
Oil prices edge lower on doubts over production cut deal
Disagreements remain over which members should be exempt from a curb to reduce output to a range of 32.5-33 mn bpd
 "Oil prices edge lower on doubts over production cut deal")
Is gold likely to be a good buy this Samvat?
Last Samvat was good for Indian gold buyers, with metal giving a 16.8% return
 "Is gold likely to be a good buy this Samvat?")
Gold prices slip 0.24% on global cues
The metal for delivery in February next year traded lower by Rs 57, or 0.17% to Rs 29,823 per 10 grams in 78 lots
 "Gold prices slip 0.24% on global cues")
Early trend shows about 50% rise in jewellery sales on Dhanteras
Gold prices have risen 16% over last Diwali, with imports estimated to have doubled over the past few monts
Cotton export turns viable
Traders expect Rs 700-1,000 a tonne of further fall in cotton price by mid-Nov
 "Cotton export turns viable")
Gold up 16.8% this Samvat
Outlook rosy for medium to long term but import duty and GST could be dampeners
 "Gold up 16.8% this Samvat")
Global nickel market sees 66,000 tonne deficit in 2017
Global output of nickel is expected to rise to 2.05 million tonnes in 2017, up from 1.93 million in 2016
 "Global nickel market sees 66,000 tonne deficit in 2017")
Centre might intervene on arecanut price
The current production cost ranges from Rs 250 to Rs 337 a kg
 "Centre might intervene on arecanut price")
Centre starts procuring soybean at MSP
Gujarat govt also plans to do so for groundnut, cotton; prices slide with bumper harvest
 "Centre starts procuring soybean at MSP")
Jewellery sales to witness 25% growth in Dhanteras says Experts
Market sentiment is looking up and the prices have more or less stabilised due to good monsoon this year, says GJF chairman
Global oil demand to rise 1.2 mn bpd in 2017 vs 1.8 mn bpd in 2016: IEA's Birol
IEA Executive Director Fatih Birol said he was expecting global oil markets to rebalance in the second half of next year
Gold edges up on steady demand; Fed rate hike speculation weighs
The Markit survey of US manufacturing climbed to a one-year top of 53.2
 "Gold edges up on steady demand; Fed rate hike speculation weighs")
Oil prices dip on OPEC squabbles ahead of planned production cut
The dollar, which held near nine-month highs against a basket of major currencies, also weighed on prices
 "Oil prices dip on OPEC squabbles ahead of planned production cut")
Better production to boost groundnut exports to 700,000 tonnes this year
In 2015-16, India had exported 537,888 tonnes of groundnut
 "Better production to boost groundnut exports to 700,000 tonnes this year")
Cotton output to rise 3.8%; BT cotton sowing falls
Better monsoon, absence of pest attacks to raise yield by 17.47%
 "Cotton output to rise 3.8%; BT cotton sowing falls")
Gold refineries resume operations as discount ends
It is in last two weeks that discount has disappeared and price started quoting at marginal premium to the cost of imports and prices have also moderated
 "Gold refineries resume operations as discount ends")
Gold pressured by US Fed rate hike prospects
US Q3 growth figures and US Fed policymakers speeches due this week will be closely watched by the market
Discount for sovereign gold bond hints at duty cut
Govt considering bringing down the 10% import duty on gold to 6%
 "Discount for sovereign gold bond hints at duty cut")