Page 606 - Commodity News
Nickel down by 0.3% on global trend
Speculators trimmed positions amid a weak global trend
 "Nickel down by 0.3% on global trend")
Zinc futures up 0.4% on spot demand; global cues
Speculators enlarged positions amidst a firming trend overseas
 "Zinc futures up 0.4% on spot demand; global cues")
Gold futures up 0.1% on global cues
Participants created fresh positions taking cues from overseas markets
 "Gold futures up 0.1% on global cues")
Oil rebounds in volatile year-end trade
Crude prices have plunged roughly 50% since June owing to plentiful supplies, a stronger dollar and weak demand
 "Oil rebounds in volatile year-end trade")
Onion price rises 65% this month as rain interrupts harvest
Steep decline in arrivals across major mandis leads to higher prices
 "Onion price rises 65% this month as rain interrupts harvest")
Gold trading at a discount of up to Rs 220 for 10g on supply glut
Importers rush to clear consignments and sell ahead of any move by Russia to dump gold to arrest rouble fall
 "Gold trading at a discount of up to Rs 220 for 10g on supply glut")
 "Basmati exports set to decline")
Oil jumps 3% to $63
US crude for January delivery, which expires after Friday's settlement, was up $1.83 at $58.30 a barrel
India's estimated groundnut output down 24 per cent in 2014-15
Failure to procure crop last year at minimum support price forced farmers to explore different crops
 "India's estimated groundnut output down 24 per cent in 2014-15")
Silver up 0.3% on global cues
Metal for delivery in far-month May traded higher by 0.1%
 "Silver up 0.3% on global cues")
Cardamom down 1.1% on profit-booking
Spice for delivery in February 2015 fell by 0.66%
 "Cardamom down 1.1% on profit-booking")
Crude palm oil rises by 0.4% on pick-up in demand
Speculators indulged in creating fresh positions, supported by rising demand in the spot market amid a firming trend overseas
 "Crude palm oil rises by 0.4% on pick-up in demand")
Lead down by 0.7% on global cues
Speculators reduced exposures amid a weak trend in base metals in global markets and subdued domestic demand
 "Lead down by 0.7% on global cues")
Zinc down by 0.4% on global cues
Speculators trimmed positions amid a weak global trend
Copper falls by 0.2% on weak global cues
Speculators trimmed positions on a weak global trend
 "Copper falls by 0.2% on weak global cues")
Sugar price hits three-year low on supply glut
Isma estimates the total output this season till December 15 at 4.23 mt against 2.9 mt last year; number of operational mills has risen this year
 "Sugar price hits three-year low on supply glut")
Rubber growers abandon plantations, output falls 25% in November
As growers abandon plantations, India will have to depend on South East Asia for rubber
 "Rubber growers abandon plantations, output falls 25% in November")
FMC nod to Kotak's nominee for MCX board seat soon
Kotak Mahindra Bank acquired 15% stake in MCX in July this year for a sum of Rs 459 cr
 "FMC nod to Kotak's nominee for MCX board seat soon")
Brent drops below $60 as OPEC, Russia keep output steady amid glut
US crude oil traded 20 cents higher at 56.13, after touching its lowest since May 2009 at $53.60 on Tuesday
 "Brent drops below $60 as OPEC, Russia keep output steady amid glut")
Maharashtra cooperative sugar sector demands bailout package from Centre
Say cane payment to farmers at set price impossible without support price of Rs 700 a tonne, other help
 "Maharashtra cooperative sugar sector demands bailout package from Centre")