Page 405 - Commodity News
Steel imports have come down by 1/4th against FY15: Steel Ministry
Global downturn led to countries including China dumping cheap steel in India, which has impacted the sales and profits of the companies
 "Steel imports have come down by 1/4th against FY15: Steel Ministry")
Iron ore rallied 70% in three months, will it continue?
Though there is little fundamental reason for rise in iron ore prices to continue, it is also unlikely that they will fall back to their December 2015 lows
 "Iron ore rallied 70% in three months, will it continue?")
Gold rises near 13-month peak on bets Fed won't hike next week
Gold prices advanced on Tuesday, supported by a struggling dollar and hopes the US Fed will not raise interest rates at its March 15-16 meeting
 "Gold rises near 13-month peak on bets Fed won't hike next week")
Brent holds above $40 as investors call bottom on commodity rout
Brent dipped early on Tuesday, but remained over $40 a barrel as more producers announced talks to support the market and investors opened new bets on price rises
 "Brent holds above $40 as investors call bottom on commodity rout")
Cardamom falls by 3% on profit-booking
Participants locked-in gains at prevailing higher levels amid tepid demand in the spot market
 "Cardamom falls by 3% on profit-booking")
Chana up by 1.7% on strong demand
Besides, restricted supplies from producing regions fuelled the uptrend
 "Chana up by 1.7% on strong demand")
Mentha oil up by 0.2% on spot demand
Restricted supplies from producing regions also influenced prices
 "Mentha oil up by 0.2% on spot demand")
Copper falls by 0.9% on global cues, low demand
Speculators cut down their positions, tracking a weak trend overseas
 "Copper falls by 0.9% on global cues, low demand")
Gold futures up by 0.9% on global cues
Speculators widened their bets taking positive cues from the global market
Silver up by 0.4% on global cues
Participants raised their bets amid firming global trends
 "Silver up by 0.4% on global cues")
Nickel falls by over 2% on weak global cues
Muted demand at the domestic spot markets also affected prices
 "Nickel falls by over 2% on weak global cues")
Zinc falls by 0.7% on weak global cues
Besides, subdued spot demand at domestic markets weighed on the prices
 "Zinc falls by 0.7% on weak global cues")
Sugar price to move up on supportive fundamentals
Prices move 18% globally on deficit forecast, lags behind in India with a gain of just 4%
 "Sugar price to move up on supportive fundamentals")
Iron ore jumps by record 19%
Strong Chinese demand pushes prices; domestic steelmakers under pressure
 "Iron ore jumps by record 19%")
First-flush tea output likely to be lower
40% of crops could be affected; increased pest proliferation making situation worse
 "First-flush tea output likely to be lower")
 "World commodities: Rally finds many takers")
Oilmeal export plunges 52%
Exports at 1.09 million tonnes in the first 11 months of the financial year, compared to 2.26 mt in the corresponding period last year
 "Oilmeal export plunges 52%")
Bleak prognosis for minerals and metals
Economists warn of an impending global recession; the US, the EU and Japan prone to witness deflation
Jewellers extend strike indefinitely as demand unmet
IBJA says will continue to hold peaceful dharna till govt assures a rollback of 1% excise duty on jewellery
 "Jewellers extend strike indefinitely as demand unmet")
 "Steel imports drop for fourth month")