Page 421 - Commodity News

Oil prices extend losses in Asia

Weak economic data from China affected prices

Oil falls on China economic woes, rising OPEC supply

Brent dropped to $33.78 a barrel, while US WTI was down to $31.13

Cotton output may fall to five-year low

Likely to decline by over 14% due to a decline in yield of the standing crop in north India

Aluminium, steel vie for automobile pie

Both aluminium and steel industries invest heavily in R&D

Exporters seek removal of iron ore duty

A steep export duty of 30% and 10% export duty on iron ore up to 58% Fe grade has killed the market for exporters

NCDEX takes action against four members in castor seed futures case

Places their trading terminals on square off mode, implying that no fresh trading would be allowed to them

Gold claws higher after weak factory data in China, Europe

Spot gold touched a 12-week high of $1,127.80 on Wednesday

Indian mills set to sell 1 MT more sugar as exports head for China

Out of the total contracted quantity, 7,00,000 tonnes have already been moved out of the country

Copper falls 1.4% on weak global cues, low demand

Subdued demand at domestic spot markets also put pressure on prices

Zinc falls by 1.1% on weak overseas trend

Subdued domestic spot demand also affected prices

Oil prices halt rise in Asian trade

The strengthening US currency hurt oil prices

Oil falls as Asia economies slow, prospect of crude output cut dims

While Brent was trading lower at $35.54 a barrel, US WTI was down 35 cents at $33.27

Commodity picks

Jeera prices in Unjha are at Rs 14,180 a quintal

Gold up 6.7% in Jan on renewed prospect as safe asset

In the Mumbai market, silver prices have gone up by 4.04 per cent

Sebi tightens agri futures norms

The latest move follows suspension of castor-seed futures by the National Commodity and Derivatives Exchange on Wednesday

Copper eases by 0.1%

Speculators reduced their positions even as metal strengthened overseas

Cardamom falls by 1.1% on profit-booking

Sufficient stocks position in the physical market also influenced the prices of the spice

Chana falls by 0.6% on muted demand

Besides, expectations of good crop across the growing states, Rajasthan and Madhya Pradesh weighed on chana prices

Mentha oil falls by 0.4% on subdued demand

Besides, adequate stocks position on increased supplies from producing belts also put pressure on mentha oil

Oil up in Asia, analysts temper hopes on Russia-OPEC talks

Analysts noted that similar discussions in the past had failed to end with concrete results