Page 420 - Commodity News
Oil futures drop for third session on rising crude stocks, oversupply
Brent for April delivery had dropped 9 cents to $32.63 a barrel
 "Oil futures drop for third session on rising crude stocks, oversupply")
Aluminium up by 0.4% on strong demand
Participants enlarged positions, supported by strong demand in the spot markets and base metals strengthened overseas
 "Aluminium up by 0.4% on strong demand")
Cotton arrivals fall by 19% on low demand, increased holding capacity by farmers
Total seasonal cotton arrival by the end of January was around 17.02 million bales against 21 million bales last year
 "Cotton arrivals fall by 19% on low demand, increased holding capacity by farmers")
Nickel up by 1% on global cues
Participants widened their bets, driven by pick up in demand in the spot market
 "Nickel up by 1% on global cues")
Global cues, spot demand lift copper by 0.5%
Speculators widened fresh positions amid positive global cues
 "Global cues, spot demand lift copper by 0.5%")
Sugar falls by 0.3% on adequate stocks
Participants lightened their positions, triggered by ample stocks
 "Sugar falls by 0.3% on adequate stocks")
Chana up by 0.1% on spot demand
Traders created fresh positions after pick up in demand in the spot market
 "Chana up by 0.1% on spot demand")
Gold futures up by 0.5% on global cues
Speculators enlarged their positions, tracking a firming trend overseas
 "Gold futures up by 0.5% on global cues")
US crude stays below $30 in Asia as oil price losses deepen
An increase typically means softer demand in the world's top oil consumer
 "US crude stays below $30 in Asia as oil price losses deepen")
Oil prices slide further
Brent North Sea crude for April shed $1.12 to $33.12 a barrel
 "Oil prices slide further")
Sebi sets up task force to review commex norms
Move follows impasse in castor seed contracts; regulator sets up task force, asks for report in three weeks
 "Sebi sets up task force to review commex norms")
Mandatory disclosure of PAN backfires, boosts unofficial gold trade
Jewellers issue many small invoices or informal receipts to skirt the rule, casting a doubt over the success of the move
 "Mandatory disclosure of PAN backfires, boosts unofficial gold trade")
Crude palm oil up by 1.1% on good demand
Restricted supplies from producing regions also fuelled the uptrend
 "Crude palm oil up by 1.1% on good demand")
Mentha oil up by 0.3% on rising demand
Participants engaged in enlarging their positions, driven by rising demand
 "Mentha oil up by 0.3% on rising demand")
Zinc falls by 0.9% on weak global trend
Speculators reduced their positions, in tandem with a weak global trend
 "Zinc falls by 0.9% on weak global trend")
Lead falls by 0.5% on muted demand
A weak global trend in the domestic markets also affected prices
 "Lead falls by 0.5% on muted demand")
Aluminium down by 0.5% on global cues
Subdued demand in the domestic spot markets also weighed on the metal prices
 "Aluminium down by 0.5% on global cues")
Copper falls by 0.2% as global trend weakens
Speculators trimmed positions amid a weak trend in global markets
Cardamom falls by 1.2% on profit booking
Participants booked profits amid muted demand in the spot market
 "Cardamom falls by 1.2% on profit booking")
Oil prices extend losses in Asia
Weak economic data from China affected prices