Page 413 - Commodity News
Copper futures fall 0.3% on global cues
Sluggish spot demand from consuming industries fuelled the downtrend
 "Copper futures fall 0.3% on global cues")
Sugar futures up 0.3% on spot demand
The sweetener for delivery in far-month May edged up by Rs 5, or 0.15 per cent to Rs 3,258 per quintal in 72,250 lots
Silver futures down by 0.3% amid profit-booking
However, a firming trend in the precious metals overseas, capped the losses
 "Silver futures down by 0.3% amid profit-booking")
Lead prices down by 0.4% on weak overseas cues
Muted domestic demand also affected prices
 "Lead prices down by 0.4% on weak overseas cues")
Gold down by 0.2% in futures trade on profit-booking
Participants cut down their bets to book profits even as the precious metal strengthened overseas
 "Gold down by 0.2% in futures trade on profit-booking")
Oil rises after Iran welcomes drive to freeze output
Iranian oil minister meets with counterparts but does not confirm production freeze
 "Oil rises after Iran welcomes drive to freeze output")
 "Deal to keep oil output at record won't help prices, says Goldman")
Sugar output up 4% this season despite lower cane availability
Mills intensify closure on non-availability of cane; output for full sugar year ending Sept 2016 likely to be lower than last year
 "Sugar output up 4% this season despite lower cane availability")
Basmati rice exports to US might be hit
US seeks mandatory registration of Indian exporters with National Plant Protection Organisation
 "Basmati rice exports to US might be hit")
Gold steadies near $1,200 as equity jitters subside
Gold is sensitive to higher U.S. rates, which boost the opportunity cost of holding non-yielding gold.
Oil prices surge as Iran signals tough line to freeze production
Moves to freeze output at January levels will make little difference to the overall supply-demand balance this year and not be enough to clear the 600,000 barrels per day surplus projected for the yea
Silver up 0.3% on global cues
Metal for delivery in March gained Rs 92, or 0.25% to Rs 37,311 per kg in 1,758 lots
Castor contract volumes jump at RCX post suspension by NCDEX
Daily turnover on regional exchange surges eight-fold to Rs 16 cr in two weeks, volumes rise six-fold to 5,310 tonnes
 "Castor contract volumes jump at RCX post suspension by NCDEX")
Oil reverses gains on signs Iran will not back output freeze
Brent crude was down 31 cents at $31.87 a barrel
 "Oil reverses gains on signs Iran will not back output freeze")
Gold futures up 0.1% on global cues
Traders raised bets amid positive cues from the global markets
 "Gold futures up 0.1% on global cues")
Brent crude surges to $32 on investor optimism over producers' deal
Iraq, Qatar and Venezuela said they would freeze output at January levels provided a deal could be agreed, while OPEC member Iran could be offered special terms to freeze oil production levels, source
 "Brent crude surges to $32 on investor optimism over producers' deal")
Mentha oil up by 0.5% on firm spot demand
Traders enlarged positions, driven by rising demand in the spot market
 "Mentha oil up by 0.5% on firm spot demand")
Crude palm oil up 0.2% on rising demand
Widening of positions by traders on the back of rising demand in the spot market helped prices
 "Crude palm oil up 0.2% on rising demand")
Crude oil up by 1.2% on Asian cues
Speculators widened their bets, taking positive cues from Asian markets
 "Crude oil up by 1.2% on Asian cues")
Oil prices recover ahead of Iran-Iraq talks
Oil prices have tumbled about 70% since June 2014, hit by oversupply, sluggish demand