Page 406 - Commodity News

Feb coal imports inch up for first time in 8 months : Official

India lacks good quality resources of steelmaking coal and imports from countries such as Australia and South Africa

Oil rallies to three-month high; analysts warn of glut

The gains were driven partly by a rally that took Asian equities to two-month highs

ONGC accuses DGH of not discharging its duty

Reliance industries had in 2001 and 2007 studied hydrocarbon reservoir below sea in ONGC's block without their knowledge

Steel consumption drops in Feb, first time in 3 months

Steel consumption fell 15.5% to almost 6 mt from the preceding month in Nov, but rose 11.2% from a year earlier

Production of high value first flush tea likely to drop this March

Erratic weather, especially delayed rains, and increased pest proliferation likely to affect output, push up auction prices

Oil jumps as traders close short positions, US producers cut rig count

Front-month Brent crude futures were trading at $39.42 per barrel, up 1.8%

Govt can't waive tax on Vodafone, Cairn: Adhia

UK oil explorer Cairn Energy is facing a tax demand of Rs 10,247 crore and Vodafone over $11 billion of 67% stake acquisition

Iran central banker visiting India over 6$ billion of oil dues

With lifting of sanctions, some Indian oil companies want to clear the unpaid bill at the exchange rate 3 years back

Nalco to invest Rs 900 crore in Kakrapar Atomic Power plant

Nalco expects India to double its aluminium consumption to five million tonnes in the next four years

Jewellers extend strike till March 7; shops shut for fourh day

Jewellers have been on a strike since March 2 protesting against budgetary proposal to re-impose 1% excise duty on jewellery

Gold to continue upward march on safe haven buying

Gains 18% in calendar 2016 on rising demand from consumers and stockists as risk appetite continues

Copper strengthens on increased industrial offtake

Other base metals held steady in thin trade

Spot zinc price jumps on less output from Hindustan Zinc

Domestic market premiums up five times, while benchmark LME up only 10%

3rd tranche of gold bond issue from Tuesday

Jewellers to continue strike, despite assurance of no inspector raj

The Budget proposed a nominal excise duty of 1% without input tax credit and 12.5% with input tax credit on articles of jewellery

Gold steadies near 13-month high before US jobs data

The metal has risen 20% this year as volatility in equities and oil prices picked up

Gold, silver strengthen on firm demand, global cues

Elsewhere, silver advanced owing to heavy speculative demand on the back of strong industrial buying support

Government to issue gold bonds on March 29

Investors can apply for the bonds between March 8 and March 14

Oil likely to recover to $55 in 12 months: Report

The oil market is still oversupplied in the first half of 2016 after supply expanded 2.7% in 2015

Bt cotton row: Monsanto threatens to re-evaluate India biz

Mosanto is against the the govt's decision to control cotton seed prices including trait or royalty value