Page 444 - Commodity News
Crude palm oil advances 1.33% on rising spot demand
Speculators enlarge positions as commodity rises fourth day in a row
 "Crude palm oil advances 1.33% on rising spot demand")
Zinc rises 0.29% on global cues, spot demand
Speculators create fresh positions as metal gains 0.4% on LME
 "Zinc rises 0.29% on global cues, spot demand")
Overseas cues, spot demand lift nickel 0.79%
Speculators raise bets as higher offtake from alloy makers propels prices
 "Overseas cues, spot demand lift nickel 0.79%")
Oil stays below $40 after OPEC decides against output cut
At a meeting in Vienna on Friday, the OPEC decided against cutting its oil output
 "Oil stays below $40 after OPEC decides against output cut")
Recovery in sight for silver
Rising demand from solar power industry and 3 years of deficit should support prices
 "Recovery in sight for silver")
Gold moves up on global cues
On Saturday, standard gold saw an increase of Rs 390 to close at Rs 25,765 per 10 gram
 "Gold moves up on global cues")
Hike aluminium import duty to 7.5%: Mines Ministry
At present, the import duty on aluminium is 5%
 "Hike aluminium import duty to 7.5%: Mines Ministry")
Oil rises as OPEC meets; dollar near one-month low
US crude futures were up 55 cents at $41.63
 "Oil rises as OPEC meets; dollar near one-month low")
Silver futures recover by 0.2% on global cues
Speculators enlarged positions amid firming global trends
 "Silver futures recover by 0.2% on global cues")
Mentha oil down by 1.5% on ample stocks
Besides, profit-booking weighed on mentha oil prices
 "Mentha oil down by 1.5% on ample stocks")
Crude palm oil up by 0.9% on spot demand
Speculators engaged in enlarging their positions, taking positive cues from spot market on firm demand
Lead falls by 0.2% on sluggish demand
A weak global trend also affected prices
 "Lead falls by 0.2% on sluggish demand")
Copper falls by 0.5% on overseas cues
Subdued domestic demand also affected prices
 "Copper falls by 0.5% on overseas cues")
Nickel declines by 0.4% on overseas cues
Muted demand from alloy makers also affected prices
Zinc up by 0.1%, in line with global trend
Speculators built up bets on the back of a firming trend overseas amid a rising demand in the domestic spot market
Ferrochrome makers bleed as chrome ore prices soar
Production capacity down by 50% in absence of captive chromite mines
 "Ferrochrome makers bleed as chrome ore prices soar")
Lower import duty for gold refineries discriminatory: Jewellery industry
High import of unrefined gold because of anomaly in import duty
 "Lower import duty for gold refineries discriminatory: Jewellery industry")
HNIs want higher gold bond limit
The bond carries an annual interest rate of 2.75% over and above the market price of gold at the time of maturity
 "HNIs want higher gold bond limit")