Page 425 - Commodity News

Copper down 0.3% on muted demand

Metal for delivery in February traded lower by 70 paise, or 0.23%

Zinc up 0.3% on spot demand, overseas cues

Metal for delivery in February traded higher by 25 paise, or 0.24%

Nickel down 0.4% on muted demand

Metal for delivery in January declined by Rs 2.20, or 0.37%

Chana up 0.3% on pick up in demand

Commodity for delivery in far-month May edged up by Rs 7, or 0.16%

Oil prices stretch gains on cold US, European weather

Brent was trading up 24 cents at $29.49 a barrel, while US WTI was rose by 17 cents to $29.70 a barrel

Recovery signs for diamond processors

Polished product prices up 3-4% in January

RBI simplifies gold monetisation scheme

Changes meant to attract temple gold; clarification also on commission payable to banks; separately, allows banks to sell India gold coins

RBI allows banks to sell gold coins made by MMTC

So far, gold coins were allowed to be sold only through about 25 MMTC centers in country

Oil prices fall near 2003 lows on oversupply, demand worries

Benchmark Brent was down 21 cents at $27.67 a barrel

As Iran opens up, Indian tea exporters may lose competitive edge

If Iran moves from the current Rupee-Rial deal to Dollar-based contracts, offtake from India may be impacted in the long run

Silver plunges Rs 272, hurt by weak global cues

In the international market, silver fell 0.74% to $14.05 an ounce in London

De Beers group firm initiates legal suit against competitor

The development assumes significance Ila might face damages worth millions of dollars

Aluminium down 0.1% on subdued demand

Metal for delivery in January contracts weakened by 5 paise, or 0.05%

Turmeric down 5% on muted demand

Spice for delivery in May contracts traded lower by Rs 412, or 4.72%

Chana down 1.1% on muted demand

According to analysts, the fall in the prices is due to subdued demand in the spot market

Coriander down 2.7% on subdued demand

Price for May delivery declined by Rs 54, or 0.80% to Rs 6,665 per quintal

Groundnut exports unlikely to improve despite lifting of ban by Vietnam

India may not even achieve last year's export numbers, let alone surpass them, due to overall slack in international market

Mentha oil up 0.4% on pick up in demand

Oil for delivery in February traded higher by Rs 2.10, or 0.23%

Cardamom up by 0.7% on rising spot demand

Speculators enlarged their positions supported by good buying in the spot markets

Zinc recovers by 0.8% on global cues

Pick up in demand at the spot market also influenced prices