Page 590 - Commodity News
Lead down by 0.6% on weak global cues
Speculators trimmed positions on weakness in base metals overseas and subdued domestic spot demand
 "Lead down by 0.6% on weak global cues")
Zinc down by 0.2% on subdued spot demand
Speculators trimmed positions after demand eased in spot markets
 "Zinc down by 0.2% on subdued spot demand")
Nickel down 0.8% on global cues
Speculators offloaded positions amid a weak trend in global markets
 "Nickel down 0.8% on global cues")
Cardamom falls by 0.8% on sluggish demand
Traders reduced their holdings amid sluggish spot demand, affecting prices
 "Cardamom falls by 0.8% on sluggish demand")
Copper falls by 0.6% on weak global cues
Subdued demand in spot markets also put pressure on the prices of the metal
 "Copper falls by 0.6% on weak global cues")
Oil prices rise, gains capped on supply glut concerns
Oil has lost more than half its value since June last year when the commodity was sitting at more than $100 a barrel
 "Oil prices rise, gains capped on supply glut concerns")
 "Oil slips to $49 on huge US stock build, firm dollar")
Govt may take a call on exporting wheat from central pool next month
Officials said the ministry is open to exporting 0.5-1.0 mt of wheat from state-run warehouses
 "Govt may take a call on exporting wheat from central pool next month")
Cotton price at multiyear low as demand dries
The price has fallen by almost 10 per cent in a month, and 23 per cent in four months, since the new crop started hitting the market
 "Cotton price at multiyear low as demand dries")
Pressure mounts on NMDC to reduce iron ore prices
Private miners in Odisha, Chhattisgarh have cut prices by Rs 800-1,000 a tonne, while international price is at over five-year low; state-owned miner yet to respond
 "Pressure mounts on NMDC to reduce iron ore prices")
Solvent extractors push to curb sale of loose edible oil
Punjab and Haryana High Court issues a notice to central and Punjab govts, on a PIL alleging violation of food safety norms by edible oil firms
 "Solvent extractors push to curb sale of loose edible oil")
Silver down 0.3% on global cues
Market analysts said a weak trend in precious metals in the global markets weighed on silver futures
 "Silver down 0.3% on global cues")
Copper up by 0.4% on global cues
Speculators created fresh positions on firm global cues
 "Copper up by 0.4% on global cues")
Crude oil down 0.8% on weak Asian cues
Speculators reduced exposures amid a weak trend in Asian trade
 "Crude oil down 0.8% on weak Asian cues")
Mentha oil declines by 0.2% on subdued demand
Speculators reduced positions amid sluggish demand from consuming industries in spot markets
 "Mentha oil declines by 0.2% on subdued demand")
Zinc up 0.3% on firm spot demand
Speculators enlarged positions amid a firm global trend and better domestic demand
Nickel drops by 0.2% on profit-booking
Speculators locked-in gains amid a weak trend overseas
Oil prices down ahead of Fed meet outcome, supply report
The Fed is expected to release a post-meeting statement later today
India retains fourth position in world steel order
With the ongoing expansions, it could take the position of the US within a couple of years, as the gap between the two is only around five mt
 "India retains fourth position in world steel order")
