Page 447 - Commodity News
Base metals surge on heavy demand, global cues
Overseas, nickel in Shanghai rallied more than 7 % in early Asian trade, while London prices also jumped
 "Base metals surge on heavy demand, global cues")
Gold remains up on global cues, wedding season buying
Silver traded higher by Rs 250 to Rs 34,400 per kg on increased offtake by industrial units and coin-makers
 "Gold remains up on global cues, wedding season buying")
Cardamom up by 0.9% on rising demand
Tight stock position on restricted supplies from producing regions also affected prices
 "Cardamom up by 0.9% on rising demand")
Crude oil up by 2% on overseas cues
Speculators built bets amid a firm trend in Asia
 "Crude oil up by 2% on overseas cues")
Silver up by 0.5% on overseas cues
Traders attributed the rise in silver futures to a firm global trend
 "Silver up by 0.5% on overseas cues")
Sugar up by 0.1% on spot demand
However, adequate stock position on higher supplies from producing regions and higher output reports capped the rise
 "Sugar up by 0.1% on spot demand")
Aluminium gains by 2% on global cues
Speculators enlarged positions amid positive cues from global markets
 "Aluminium gains by 2% on global cues")
Copper gains by 3.2% on global cues
Speculators widened positions, buoyed by firm global trend
 "Copper gains by 3.2% on global cues")
Zinc up by 3.1% on global cues
Pick up in demand also helped prices
 "Zinc up by 3.1% on global cues")
Nickel up over 3% on global cues
Speculators widened positions taking positive cues from global market
 "Nickel up over 3% on global cues")
Oil prices up in Asia
US commercial crude supplies rose at a slower pace while jitters over the shooting down by Turkey of a Russian warplane lingered
 "Oil prices up in Asia")
Sovereign Gold Bond scheme launch postponed to Nov 30
The delay is to enable the smooth uploading of applications into RBI's e-Kuber system
 "Sovereign Gold Bond scheme launch postponed to Nov 30")
Iron ore import becomes viable after a gap of three months
Sharp fall in global markets coupled with steep decline in Baltic Dry Index lure steel mills to import
 "Iron ore import becomes viable after a gap of three months")
Centre to now impose stockholding limit on raw jute
It will also take up the issue of raw jute export ban imposed by Bangladesh
 "Centre to now impose stockholding limit on raw jute")
India to get first lot of Canadian Uranium next month
The deal will ensure 3,220 metric tonnes of uranium over the next five years
 "India to get first lot of Canadian Uranium next month")
Gold drops on dollar, but political risk tempers losses
Spot gold was down 0.2% at $1,072.81
 "Gold drops on dollar, but political risk tempers losses")
Commerce & Industry ministry for cut in import duty on gold
Higher import of the yellow metal has adverse bearing on India's current account deficit
 "Commerce & Industry ministry for cut in import duty on gold")
Oil prices down on diplomatic efforts to ease Middle East tensions
Traders are setting their sights on an OPEC meeting on December 4 for signs on whether the cartel will slash high production levels
Crash in premium hurting aluminium producers: Satish Pai
Interview with CEO (aluminium), Hindalco Industries
 "Crash in premium hurting aluminium producers: Satish Pai")
Dairy farmers in dire straits
Fall in realisation forces them to abstain from fresh investments
 "Dairy farmers in dire straits")