Page 432 - Commodity News
Silver futures up by 0.9% on global cues
Specultors widened their positions buoyed by a firming trend overseas
 "Silver futures up by 0.9% on global cues")
Copper falls by 0.8% as China lowers yuan
Subdued demand at the domestic spot markets also affected prices
 "Copper falls by 0.8% as China lowers yuan")
Gold futures regain Rs 26,000-mark, up Rs 204 on global cues
Speculators enlarged positions amid a firming trend overseas
 "Gold futures regain Rs 26,000-mark, up Rs 204 on global cues")
Oil extends losses, nears $33 a barrel
In London, it had closed below $35 for the first time in more than 11 years at $34.23 a barrel
 "Oil extends losses, nears $33 a barrel")
Iron ore price rebounds after hitting 7-year low
Experts believe large stock-holding at mine heads coupled with subdued demand from steel mills will not allow iron ore prices to move up for long
 "Iron ore price rebounds after hitting 7-year low")
Exporters unlikely to benefit from duty exemption
Earlier, pellet exports used to attract five per cent duty
 "Exporters unlikely to benefit from duty exemption")
 "Sugar export prospects down as domestic prices soar")
Jute product exports shrink due to high cost
Raw jute prices have touched an all-time high of Rs 53,000 a tonne, double the level of Rs 26,000 per tonne a year ago
 "Jute product exports shrink due to high cost")
Oil slides below $35/barrel on rising stocks
Saudi-Iran split dashes chance of Opec deal to curb oil glut; Analysts expect rise in US crude stocks; China's services sector expanded in Dec at slowest pace in 17 months
 "Oil slides below $35/barrel on rising stocks")
Gold hit six-week high on global cues
Gains 0.60% to settle at Rs 25,865 per 10 grams
Oil falls to 11-year low, Saudi-Iran row makes output restraint unlikely
Furore over Saudi Arabia's execution of a Shi'ite cleric has depressed the market as it put an end to speculation that OPEC members could agree on production cuts
 "Oil falls to 11-year low, Saudi-Iran row makes output restraint unlikely")
Gold hit over 3-week high on global cues, jewellers buying
Silver followed suit and advanced by Rs 50 to Rs 33,750 per kg due to increased offtake
 "Gold hit over 3-week high on global cues, jewellers buying")
Coriander down 2.5% on muted demand
Spice for delivery in January lost Rs 152, or 2.10%
 "Coriander down 2.5% on muted demand")
Mentha oil extends gain in futures trade on rising demand
Oil for delivery in January traded higher by 50 paise, or 0.06%
 "Mentha oil extends gain in futures trade on rising demand")
Jeera down 1% on sluggish demand
Spice for delivery in far-month March traded lower by Rs 105, or 0.73%
 "Jeera down 1% on sluggish demand")
Sugar down 0.4% on ample stocks
Commodity for delivery in March shed Rs 7, or 0.22% to Rs 3,182 per quintal
 "Sugar down 0.4% on ample stocks")
Refined soya oil down 0.6% on low demand
Oil for delivery in January shed Rs 3.15, or 0.52%
 "Refined soya oil down 0.6% on low demand")
Copper down 0.06% on subdued domestic demand
Metal for delivery in February shed 15 paise, or 0.05%
 "Copper down 0.06% on subdued domestic demand")
Lead falls by 0.1% on sluggish demand
A weak global trend also affected prices
 "Lead falls by 0.1% on sluggish demand")
Cardamom gains by 0.5% as demand picks up
Participants built up fresh positions, tracking a firm trend at spot market on pick up in demand
 "Cardamom gains by 0.5% as demand picks up")