Page 387 - Commodity News

Oil retreats from 2016 highs on US crude build-up

US crude inventories climbed two million barrels last week to an all-time peak of 540.6 million barrels

Hallmark complications

Assaying gold jewellery may be a good idea, but it's tricky

Zinc falls by 0.1%, in line with global trend

Speculators trimmed positions, tracking a weak global trend

Gold prices rise by 0.3% in futures trade on global cues

Market analysts said rise in the precious metal in global markets mainly influenced gold prices

Nickel down by 0.5% on overseas cues

Subdued demand in the domestic market also affected prices

Copper falls by 0.5% on weak global cues

Furthermore, muted demand at domestic spot market pushed down the metal prices

Oil prices rise on weaker dollar ahead of Fed rate decision

A weak dollar provided support as it makes crude cheaper for customers using other currencies

Oil hits 2016 high after US crude draw report, gasoline rally

Brent and WTI futures ended up almost 3% higher after American Petroleum Institute reported drawdown of 1.1 million barrels in US crude inventories

Private traders far more active in wheat procurement

Wheat is being bought at a premium of Rs 25-50 a quintal in MP, UP and Rajasthan, curtailing availability for govt agencies

Maharashtra to enact law to fix maximum price of pulses

State administration envisages imprisonment and fine for non-compliance

Sugar traders deny hoarding charges

This year, sugar prices are up almost 25 per cent, following estimated 10 per cent-plus fall in the production and rising exports

Import of pulses up 26% to 5.79 mt in FY16

UP sugar output dips as crushing season rounds off

So far, 111 of 118 sugar mills that were active in the crushing season this year have closed after cane supply dried up

Provide level playing field to domestic gold refineries: Assocham

Industry body urges govt to raise CVD on gold dore, cut excise on refined bars to achieve this end

Next oil downturn? Looming gasoline glut threatens crude's rebound

But rampant production of oil products, especially in Asia, is threatening to derail that recovery

Aluminium down 0.2% on muted demand

Metal for delivery in May contracts fell by a similar margin to trade at Rs 1120.20 per kg in 52 lots

Crude palm oil declines 0.51% on profit-booking

Oil for delivery in April traded lower by Rs 2.40, or 0.42%

Gold down 0.2% on profit-booking

Metal for delivery in far-month August eased by Rs 47, or 0.16%

Copper falls by 0.6% as global trend weakens

Speculators trimmed positions amid a weak trend in global markets

Commodities react like a canary in a coal mine

No doubt commodities will be the first in the line of price collapse if recession hits the world