Page 510 - Commodity News
Steel makers worry as Chinese prices slide to multi-year low
There is little scope for Indian companies to meet the competition by cutting prices as domestic steel is seen bottoming out
 "Steel makers worry as Chinese prices slide to multi-year low")
Govt permits 2,095 tonnes of more sugar to US under quota
Earlier, 8,424 tonnes of raw sugar has been notified for export to the US under this quota
 "Govt permits 2,095 tonnes of more sugar to US under quota")
Gold plunges to 3-mnth lows, silver dips by Rs 1,550
Yellow metal sheds Rs 330 to trade at Rs 26,170 per ten grams in NCR, on global cues and low offtake by jewellers
 "Gold plunges to 3-mnth lows, silver dips by Rs 1,550")
Zinc down 1.4% on low spot demand; global cues
Metal for delivery in August edged lower by 1.28%
 "Zinc down 1.4% on low spot demand; global cues")
Sugar down 0.6% on ample stocks
Commodity for delivery in October contracts moved down by 0.32%
Palm oil down 0.1% on subdued demand
Oil for delivery in July was trading at 0.09%
 "Palm oil down 0.1% on subdued demand")
Cardamom rises by 1.3% on spot demand
Restricted supplies from producing belts also helped prices
 "Cardamom rises by 1.3% on spot demand")
Mentha oil down by 1.1% on easing demand
Rising supplies from growing regions also kept pressure on mentha oil
 "Mentha oil down by 1.1% on easing demand")
Chana up by 2% on pickup in spot demand
Restricted supplies from producing regions also led to the upsurge in prices
 "Chana up by 2% on pickup in spot demand")
Lead down by 1% on global cues
Subdued demand at domestic spot markets too weighed on prices
 "Lead down by 1% on global cues")
Copper falls by 1.1% on overseas cues
Analysts attributed the fall in copper futures to a weak trend in metal in Shanghai where it fell to six-year low amid a stock market rout in china
 "Copper falls by 1.1% on overseas cues")
Silver falls by 0.8% on lower global cues
Speculators indulged in offloading positions, taking weak cues from global market
 "Silver falls by 0.8% on lower global cues")
Gold dips below 26,000-mark on global cues
A China-led equity-market rout across Asia and the crisis in Greece boosted the dollar, reducing appeal of the precious metal
 "Gold dips below 26,000-mark on global cues")
Oil prices down in Asia as Greece and China weigh
Analysts said the bloodbath in Chinese equities was spilling into other markets
 "Oil prices down in Asia as Greece and China weigh")
Black tea: McLeod Russel to gain from Kenya dry spell
Drought in Kenya is threatening to cut output, and a dip in global supply may help boost auction prices for McLeod Russel this year by 8%
 "Black tea: McLeod Russel to gain from Kenya dry spell")
Rough diamond import to decline 10-15% this year on weak jewellery demand
Import declined by 24% in value terms and 13% in volume terms between April - May period
 "Rough diamond import to decline 10-15% this year on weak jewellery demand")
FMC reduces trading time of evening session by 2 hrs
De-lists four contracts from evening trade; no major impact on volume expected
 "FMC reduces trading time of evening session by 2 hrs")
Govt to consider raising Rs 15,000 cr through gold bond scheme
Issuance will be for retail investors in tranches, a senior official said
 "Govt to consider raising Rs 15,000 cr through gold bond scheme")
Oilmeal export down by 34% in June at 1.37 lakh tonnes
Besides fall in exports, the domestic demand has also been subdued, says SEA
 "Oilmeal export down by 34% in June at 1.37 lakh tonnes")
Copper up 0.2% on spot demand
Metal for delivery in November gained 60 paise, or 0.16%
 "Copper up 0.2% on spot demand")