Page 481 - Commodity News

Crude oil up by 0.8% on overseas cues

Speculators widened their positions amid a mixed trend overseas

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

Govt imposes 20% safeguard duty on some steel products

Integrated steel producers welcome the move but say price rise still distant

NCDEX imposes special margin on chana

The exchange has levied an additional margin of 5% (in cash) on both buying and selling

Cardamom falls by 1.2% on profit-booking

Besides, adequate stock in the physical market following increased arrivals from producing belts weighed

Crude palm oil up by 1.2% in line with firm spot market

Participants widened positions, tracking a firm trend at the spot market on rising demand from consuming industries

Zinc fall by 0.6%, tracking weak global trend

Speculators trimmed positions, tracking a weak global trend

Nickel falls by 0.8% on weak overseas cues

Muted demand from alloy-makers at the domestic spot markets also weighed on the metal prices

Crude oil futures down on mixed Asian cues

Speculators trimmed positions amid a mixed trend in Asian trade

Copper falls by 0.4% on weak global cues

Furthermore, subdued demand at domestic spot market pushed down metal prices

Time to accumulate silver

Attractively low prices, rising demand and a favourable ratio to gold point to better days ahead for the white metal

Commodity picks

Goa iron ore sale hits a soft patch, may hit mining

Of the total of 3.5 MT of iron ore under the hammer in the past three auctions only 0.77 MT, or 22% was sold

Commodity exchanges get 1-year to rationalise salaries

Will have to eventually follow all the regulations applicable to the stock exchanges, but Sebi has decided to give them some time to ensure compliance

Gold imports cross 120 tonnes in Aug, highest so far in FY16

The rise in imports is mainly in anticipation of the upcoming festive season

Codex committee to chalk out standards for spices

India has submitted proposals for setting up standards for dried chilli, ginger and garlic

Govt to import 5,000 tonnes more of pulses to control prices

It also directed MMTC to expedite import of 10,000 tonnes of lentils

Food production will be higher this year: Jaitley

Says sowing has been reasonably good

Drought dents India gold demand, but prices still appealing

Rural areas, which account for nearly two-thirds of India's gold demand, have been hit hard by below normal rainfall