Page 373 - Commodity News
Cardamom down 0.4% on profit-booking
Spice for delivery in August contracts weakened by 40 paise or 0.05%
 "Cardamom down 0.4% on profit-booking")
Refined soya oil up 0.4% on upsurge in demand
Oil for delivery in June contracts traded higher by Rs 2.20 or 0.34%
 "Refined soya oil up 0.4% on upsurge in demand")
Gold hits 2-week high on hopes Fed will not raise rates soon
Spot gold was up 0.4% at $1,248.30 an ounce by 0355 GMT. It hit a high of $1,249.20 earlier in the session, its strongest since May 24
 "Gold hits 2-week high on hopes Fed will not raise rates soon")
Crude oil up by 0.8%, tracking positive Asian cues
Speculators widened their bets, taking positive cues from the Asian markets
 "Crude oil up by 0.8%, tracking positive Asian cues")
Silver futures up by 0.3% on firm global cues
Fresh positions created by participants in line with a firm trend in global markets, mainly influenced prices
 "Silver futures up by 0.3% on firm global cues")
Oil stays near eight-month high on US inventory draw
Worries over attacks on Nigeria's oil industry, along with larger-than-expected drawdown in US inventories push prices up
 "Oil stays near eight-month high on US inventory draw")
Base metals rise on dovish Fed talk
Analysts hope next hike possible in September on weak job data, supportive for industrial metals
 "Base metals rise on dovish Fed talk")
Cardamom up by 3.8% on strong demand
Traders enlarged positions on the back of surging domestic and exports demand
Silver futures climb 0.2% on firm global cues
Fresh positions created by participants in line with a firm trend in global markets, mainly influenced silver prices
Spice traders and exporters form single lobby group
Hitherto working separately, they've now started an industry body to speak in one voice with the govt on policy matters and to mitigate problems like adulteration
 "Spice traders and exporters form single lobby group")
May steel imports lowest in at least 14 months
Consumption of steel in India is growing, rose 3.8 per cent in May
 "May steel imports lowest in at least 14 months")
 "China's aluminium output data fail to carry conviction")
Sugar stocks hit 52-week high
Less domestic output , with a widening global deficit, resulting in more realisation and profits, among favourable factors
 "Sugar stocks hit 52-week high")
Oilmeal exports dips 94% to 7,737 tonnes in May
Lower oilseed availability, higher prices in domestic market drive shipments down from 121,000 tonnes achieved a year ago
 "Oilmeal exports dips 94% to 7,737 tonnes in May")
Vedanta readies $500 mn capex for its zinc business
The metal and mining conglomerate is among the world's largest integrated zinc-lead producers with an output of 1,115 kilo tonnes in 2015-16
 "Vedanta readies $500 mn capex for its zinc business")
Steel consumption up 3.8% in May
During April-May, Integrated Steel Plant producers produced 8.688 mt, which was a growth of 8.8%
International skimmed milk powder prices show signs of recovery
Might open up export opportunities for Indian exporters; SMP exports from India next to nil at present, due to unviable prices
 "International skimmed milk powder prices show signs of recovery")
Govt ready to help revive Nagarjuna oil refinery: Dharmendra Pradhan
Nagarjuna Oil Refinery earlier said it was in talks with prospective investors, including state-run firms, Saudi Arabia
 "Govt ready to help revive Nagarjuna oil refinery: Dharmendra Pradhan")
Sugar up by 0.4% on uptick in demand
Participants enlarged their positions amid upsurge in demand from bulk consumers in the spot market