Page 480 - Commodity News
Copper down by 0.4%, hurt by weak global cues
Speculators engaged in trimming positions amid a weak global trend
 "Copper down by 0.4%, hurt by weak global cues")
US crude up on Wall Street, gasoline rally; Brent premium narrows
US crude's front-month settled up 59 cents, or 1.3%, at $44.59 a barrel
 "US crude up on Wall Street, gasoline rally; Brent premium narrows")
US oil prices extend gains on stock-draw
US crude futures rose after industry group the American Petroleum Institute reported a 3.1 mn-barrel crude drawdown last week
Veg oil import duty may rise
India being used as a dumping ground for edible oil: SEA
 "Veg oil import duty may rise")
Coconut output likely to drop 10% on below normal monsoon
For 2014-15, production stood at 19,503 million nuts
 "Coconut output likely to drop 10% on below normal monsoon")
Cautious rise possible in steel prices
Price revisions are seen happening with caution
 "Cautious rise possible in steel prices")
India to get synthetic detection centre next month: De Beers
India is the world's largest centre for diamond cutting and polishing
 "India to get synthetic detection centre next month: De Beers")
Gujarat to connect 26 APMCs under e-market program
Currently traders can participates only in single APMC for physical trading but in e-market, traders can participate in multiple APMCs with single license
 "Gujarat to connect 26 APMCs under e-market program")
Aluminium makers need to be cost competitive, say analysts
Falling metal prices have eroded their competitive edge, forcing them to keep half their capacities idle
 "Aluminium makers need to be cost competitive, say analysts")
Crude palm oil falls by 0.8% on profit-booking
Speculators booked profits at prevailing levels amid subdued spot demand
 "Crude palm oil falls by 0.8% on profit-booking")
Cardamom falls by 2.7% on subdued demand
Speculators engaged in reducing positions amid adequate stocks against subdued demand in the spot market
 "Cardamom falls by 2.7% on subdued demand")
Lead up by 0.5% on base metal gains
Participants enlarged their positions, driven by pick-up in spot market demand and gains in base metals overseas
 "Lead up by 0.5% on base metal gains")
Nickel up by 0.8% on rising demand
A firming trend overseas also helped support prices
 "Nickel up by 0.8% on rising demand")
Aluminium up by 0.3% as spot demand hardens
Participants enlarged positions amid a firming trend overseas
Zinc rises by 0.3% on overseas cues
Improved demand in the spot market also helped prices
 "Zinc rises by 0.3% on overseas cues")
Crude oil up by 0.8% on overseas cues
Speculators widened their positions amid a mixed trend overseas
 "Crude oil up by 0.8% on overseas cues")
Will emerging nations compensate for loss of China steel mojo?
CISA has forecast a two per cent fall in Chinese steel production in 2015, the first contraction since 1990
Metals to fall further on oversupply
Moody's forecasts weak price for 2016 and a possible rebound on production cuts in 2017
 "Metals to fall further on oversupply")
Govt imposes 20% safeguard duty on some steel products
Integrated steel producers welcome the move but say price rise still distant
 "Govt imposes 20% safeguard duty on some steel products")
NCDEX imposes special margin on chana
The exchange has levied an additional margin of 5% (in cash) on both buying and selling
 "NCDEX imposes special margin on chana")