Page 609 - Commodity News
Crude oil plunges by 2.6% on weak Asian cues
Participants indulged in offloading their positions amid a weakening trend in Asian trade where it sank below the psychological $60-mark
 "Crude oil plunges by 2.6% on weak Asian cues")
Oil prices struggle after WTI sinks below $60
WTI and Brent prices have fallen precipitously since hitting 2014 peaks of $106 and $115 respectively in June
Oil resumes decline, falling toward $64, oversupply weighs
Opec said on Wednesday demand for its crude in 2015 would fall to its lowest in more than a decade
 "Oil resumes decline, falling toward $64, oversupply weighs")
Iron ore prices at 5-year low on excess supply
BHP Billiton, Rio Tinto to keep supply surplus of 100 mn tonnes amid falling demand from steel mills
 "Iron ore prices at 5-year low on excess supply")
Middle class diamond purchases up four-fold in 12 years in India: De Beers
It's a sign the country is developing into a diamond consumer market to complement its pre-eminence as a polishing centre
 "Middle class diamond purchases up four-fold in 12 years in India: De Beers")
Sugar stocks up on higher ethanol price
CCEA raises biofuel return by Rs 1.5-2 a litre; industry welcomes move, reiterates call for faster implementation of 5% blending target
 "Sugar stocks up on higher ethanol price")
FMC increases open interest limit in 18 commodities
Market participants requested the move as exisiting position limits are impacting the liquidity and depth of the market
 "FMC increases open interest limit in 18 commodities")
Agri imports from South East Asia cause for concern
Farmers have raised concerns over the imports from Cambodia, Laos, Myanmar and Vietnam
 "Agri imports from South East Asia cause for concern")
Edible oil crushing down by 15-20% this year
Last year, 33 million tonnes of edible oil was crushed domestically
 "Edible oil crushing down by 15-20% this year")
Ethanol pricing sweetens outlook for sugar sector
The Cabinet Committee on Economic Affairs (CCEA) fixed the delivered price of ethanol in the range of Rs 48.50-Rs 49.50 per litre
 "Ethanol pricing sweetens outlook for sugar sector")
Lead rises by 0.6% on spot demand
Speculators created fresh positions, driven by pick up in demand in the spot market
 "Lead rises by 0.6% on spot demand")
Aluminium weakens by 0.1% on low spot demand
Speculators reduced exposure amid sluggish demand from consuming industries in the spot market
 "Aluminium weakens by 0.1% on low spot demand")
Sugar down by 0.8% on ample supply
Speculators trimmed positions, triggered by higher supplies in the spot market
 "Sugar down by 0.8% on ample supply")
Cardamom down by 0.7% on subdued demand
Speculators trimmed positions amidst sluggish demand in the spot market
 "Cardamom down by 0.7% on subdued demand")
Mentha oil up by 0.5% on firm demand
Tight stocks positions in the physical market following restricted arrivals from producing region also supported the upside
 "Mentha oil up by 0.5% on firm demand")
Nickel up by 0.4% on firm demand
Speculators enlarged positions, tracking a firming trend in spot market on increased demand from alloy-makers
 "Nickel up by 0.4% on firm demand")
Zinc up by 0.2% on overseas cues
Better domestic demand also helped the metal's prices
 "Zinc up by 0.2% on overseas cues")
Crude oil recover by 0.6% on Asian cues
Speculators created positions on the back of rebound in Asian region
 "Crude oil recover by 0.6% on Asian cues")
Picture unclear on November gold imports
Import in October was estimated at 120 tonnes, a steep rise from 95 tonnes in September
 "Picture unclear on November gold imports")
NCDEX to launch fixed price contract in tur and urad
FMC granted NCDEX permission to introduce forward contracts in 17 commodities on Tuesday. The exchange had earlier launched such contracts in sugar and maize
 "NCDEX to launch fixed price contract in tur and urad")