Page 340 - Commodity News

Oil prices dip on surging Iran sales, but looming OPEC deal offers support

US West Texas Intermediate crude was down 25 cents at $48.56 a barrel

Oil prices dip on surging Iran sales, but looming OPEC deal offers support

International Brent crude oil futures were trading at $50.79 per barrel

Moong falls below MSP despite govt buying

Trade sources said the government-owned Food Corporation of India (FCI) had started procuring moong at the MSP for release in future

Supply-side restructuring the way for steel firms

The industry has outstanding bank loans of around Rs 3 lakh crore, making it one of the largest contributors to the country's NPAs

Planters demand higher subsidy for orthodox tea

Production cost for high grade CTC is Rs 185 a kilo on an average while cost of production for lowest quality of orthodox is around Rs 210 a kilo

Gold import bill falls to 10-yr low

Experts believe that import duty on the yellow metal needs to be cut back to at least 6% to discourage unofficial imports

Tin and lead slip on sluggish demand

Elsewhere, copper armature and brass utensils scrap also edged down owing to mild demand from industrial users

Oil prices stable on planned OPEC cut, but current glut still weighs

International benchmark Brent crude futures were trading at $50.25 per barrel

Gold slips on tapering safe-haven demand as Deutsche Bank worries ease

Spot gold dropped 0.1 per cent to $1,314.50, whereas US gold futures rose 0.1 per cent to $1,318.40

Oil prices fall on high production despite planned OPEC output cut

US West Texas Intermediate futures were down 26 cents, or 0.5 per cent, at $47.98 a barrel

Commodity picks: 3 October 2016

$782-mn of cotton exports to Pakistan likely to halt

This, after talks of withdrawal of the Most Favoured Nation status to Pakistan

Oil prices slide on profit-taking after two-day jump

Also, doubts are that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut

Oil prices down on profit-taking after two-day jump

OPEC agreed on Wednesday to cut output to 32.5-33.0 million bpd from around 33.5 million bpd

Gold up as stocks fall on Deutsche Bank worries; dollar caps gains

Deutsche Bank shares slumped to a record low after a report that trading clients had withdrawn excess cash and positions held in the lender

Why OPEC's attempt at cartelisation may not work this time

Even if the countries follow the discipline of cutting production, oil market has expanded well beyond OPEC's control

Opec agrees to modest output curbs

Prices rise nearly 3 per cent, extending rally on optimism over first output cut plan in eight years

Steel product imports rise faster; creating inverted duty structure: EEPC India

Imports for the finished goods in the form of products of steel and iron have been increasing in the range of 22.5% and 51% between June and August this year

Corporate dairies to have an edge over co-operatives

Parag, Hatsun, Kwality plan to increase milk procurement for value-added products

Gold pares gains as dollar recovers, equities rally

Spot gold was steady at $1,320.62 an ounce whereas, US gold futures were up nearly 0.1 per cent at $1,324.30 an ounce