Page 428 - Commodity News
Gold import bill up 12%, reaches $35 bn in 2015
India's imports of gold crossed 100 tonnes in December alone, gross official import crossed 900 tonnes
 "Gold import bill up 12%, reaches $35 bn in 2015")
 "Gold glitters on global cues")
Dip in oilseed exports force industry to get tough on quality
A number of countries have been rejecting Indian oilseeds because of poor quality and adulteration
Goldman Sachs maintains $40 a barrel oil forecast for the first half of 2016
According to analysts, there is little threat of geopolitical concerns affecting the supply
 "Goldman Sachs maintains $40 a barrel oil forecast for the first half of 2016")
Gold turns weak on global cues, sluggish demand
Loses Rs 40 to trade at Rs 26,210 per 10 grams in NCR, silver sheds Rs 230 a kg to Rs 33,795
 "Gold turns weak on global cues, sluggish demand")
Sugar prices up by 1.5% on spot demand
Traders widened positions driven by upsurge in demand at the spot market
 "Sugar prices up by 1.5% on spot demand")
Lead falls by 0.5% on overseas cues
Sluggish demand from battery-makers in the spot market also affected prices
Nickel down by 0.6% on global cues
Muted demand in the domestic market also affected prices
 "Nickel down by 0.6% on global cues")
Aluminium down by 0.4% on global cues
Furthermore, subdued demand in the domestic spot markets also weighed on prices
 "Aluminium down by 0.4% on global cues")
Copper falls by 0.4% on muted demand
Weak global cues also affected prices
 "Copper falls by 0.4% on muted demand")
Oil prices ease in Asian trade, stuck near 12-year lows
Dealers prepare for the return of Iranian exports on to the market while US stockpiles increase
 "Oil prices ease in Asian trade, stuck near 12-year lows")
Steel companies incur huge losses on cheap imports from Russia, China
Lower capacity utilisation to keep losses in check
 "Steel companies incur huge losses on cheap imports from Russia, China")
Metal processors seek abolition of inverse duty structure
Metal processors are seeking abolishing of inverse duty structure, which imposes a higher import duty on raw material but a lower one on finished products
 "Metal processors seek abolition of inverse duty structure")
Price control may stifle India's cotton seed industry
Govt order aims to control licence fee, royalty trait fee and licensing terms on which innovative technologies are made available
 "Price control may stifle India's cotton seed industry")
Brent falls to another 12-year low as Iran supply looms
The global benchmark dropped as far as $29.73, the lowest since February 2004 and down more than 1.5%
 "Brent falls to another 12-year low as Iran supply looms")
Crude palm oil up 0.5% on spot demand
Speculators indulged in creating fresh positions coupled with rising demand in the spot markets
 "Crude palm oil up 0.5% on spot demand")
Cardamom prices falls by 1.8% on profit-booking
Further, slackened demand in the spot markets influenced cardamom prices
 "Cardamom prices falls by 1.8% on profit-booking")
Mustard oil prices fall on hopes of good harvest
Since December 1, retail price of a kilogram of mustard oil has fallen by Rs 9 to Rs 5
 "Mustard oil prices fall on hopes of good harvest")
Brent oil stays below $30 a barrel on oversupply worries
US crude and fuel inventories rose, adding further anxiety over a global supply glut
Oil plunge forces companies to slash $170 b in projects from 2016-2020
With a fall of 70% since mid-2014 to just over $30 a barrel, companies have either postponed or cancelled their projects
 "Oil plunge forces companies to slash $170 b in projects from 2016-2020")