Page 490 - Commodity News
Oil heads for eighth straight week of falls
Prices continue to be plagued by the supply glut problem
 "Oil heads for eighth straight week of falls")
Cheap imports hurting domestic paper industry
Profit margins under pressure as companies unable to raise prices
 "Cheap imports hurting domestic paper industry")
Base metals hit multi year low on Chinese demand concerns
Yuan devaluation to make metal imports into China dearer
 "Base metals hit multi year low on Chinese demand concerns")
 "Wholesale onion prices hit 2-yr high")
Gold jumps to six-week high on global move, weak rupee
Standard gold shoots up by 1.6% to close at Rs 26,620 per 10 gm
 "Gold jumps to six-week high on global move, weak rupee")
 "Oil rebounds from 6-yr low")
US oil falls to $40 on global glut
This, as supplies rise in North America and the Middle East, filling stockpiles to record levels
 "US oil falls to $40 on global glut")
Mentha oil gains 0.9% on pickup in demand
Oil for September delivery traded higher by Rs 8.10, or 0.84%
 "Mentha oil gains 0.9% on pickup in demand")
Palm oil down 0.9% on subdued demand
Oil for delivery in September traded lower by Rs 3.80, or 0.96%
 "Palm oil down 0.9% on subdued demand")
Cardamom up 0.2% on rising spot demand
Spice for delivery in September gained Rs 1.10, or 0.13%
 "Cardamom up 0.2% on rising spot demand")
Zinc up by 0.2% on overseas cues
Participants enlarged positions amid a firming trend overseas and better domestic demand
 "Zinc up by 0.2% on overseas cues")
Copper up on positive global cues
A firming trend on the LME helped copper prices
 "Copper up on positive global cues")
Crude oil falls by 0.5%, weighed down by weak Asian cues
Traders engaged in trimming positions amid a weakening trend in Asian trade
Gold up by 0.7% on firm global cues
Speculators widened positions amid a firming trend overseas
 "Gold up by 0.7% on firm global cues")
Oil approaches key $40 level in Asian trade
A surprise rise in US inventories added to concerns of a supply glut
No Indian dairy among world's top 20
Unorganised market, co-ops stunt local industry
 "No Indian dairy among world's top 20")
Onion prices go through the roof
Rise 50% in a month, could hit Rs 100/kg in retail market, say traders, with delayed sowing and harvesting due to adverse weather
 "Onion prices go through the roof")
Chana up 1% as spot demand picks up
Commodity for delivery in September was higher by Rs 42, or 0.89%
 "Chana up 1% as spot demand picks up")
Nickel up on spot demand
Metal for delivery in September traded edged up by 40 paise, or 0.06%
 "Nickel up on spot demand")
Silver down 0.2% on overseas cues
Metal for delivery in December lost Rs 38, or 0.11%
 "Silver down 0.2% on overseas cues")