Page 627 - Commodity News
Silver falls 1.35% in futures trade on overseas cues
Traders trim positions as a stronger dollar erodes demand for the metal
 "Silver falls 1.35% in futures trade on overseas cues")
FMC plans tighter warehousing norms for comexes
FMC and Warehouse Regulatory and Development Authority decided to revamp earlier regime for warehouse providers after NSEL fiasco
 "FMC plans tighter warehousing norms for comexes")
Gemfields to enter into mining of stones in India
Gemfields is planning to acquire colour gemstone mines in Odisha and Jharkhand, and participate in exploration of the Kashmir sapphire mines in J&K
 "Gemfields to enter into mining of stones in India")
Gold edges off four-year low as dollar eases
Prices remained rangebound ahead of a European Central Bank meeting later in the day
 "Gold edges off four-year low as dollar eases")
Brent falls below $83 on oversupply concerns
The slump follows concerns of oversupply as Iran and world powers closed on a deal, and a build-up in US inventory
Oilmeal exports decline 32% in 2013-14
Decline in soyabean meal shipments owing to lower domestic crop affected the exports
 "Oilmeal exports decline 32% in 2013-14")
Gold falls to 5-yr low as investors exit
Expectations of rate hike by Fed trigger sell-off; spot price in London hits $1,144 an ounce, last seen in November 2009; in rupee terms, metal down to Rs 25,750 per 10g
 "Gold falls to 5-yr low as investors exit")
Soybean, groundnut output to be less than last year
Sopa, an Indore-based trade body, has forecast India's overall output at 10.44 mn tonne against 9.48 mn tonne of previous year
 "Soybean, groundnut output to be less than last year")
Coal block deallocation to affect already troubled sponge iron industry
After the SC's order for cancelling blocks' allotments, there is uncertainty, with the cost of import raising issues of viability
 "Coal block deallocation to affect already troubled sponge iron industry")
 "Brent extends losses below $83 on weak China data")
Base metals fall on lower Chinese demand, weak global demand sentiment
Copper leads decline, sheds 1.2% on LME; US trade deficit concerns weigh
 "Base metals fall on lower Chinese demand, weak global demand sentiment")
Nickel down 0.7% on global trends, subdued spot demand
Metal for delivery December month traded lower by 0.65%
 "Nickel down 0.7% on global trends, subdued spot demand")
Copper down 0.4% on weak global cues, low demand
Metal for delivery in November also eased by 0.39%
Lead down 0.6% on global cues, subdued domestic demand
Metal for delivery in December fell by 0.60%
 "Lead down 0.6% on global cues, subdued domestic demand")
Zinc down 0.5% on subdued demand, weak global cues
Metal for delivery in November traded lower by 70 paise, or 0.50%
 "Zinc down 0.5% on subdued demand, weak global cues")
Crude oil up 0.4% on mixed Asian cues
Oil for delivery in December moved up by 0.29%
 "Crude oil up 0.4% on mixed Asian cues")
Cardamom down 1.6% on low demand, higher arrivals
Spice for delivery in December traded lower by 1.43%
 "Cardamom down 1.6% on low demand, higher arrivals")
Aluminium sheds 0.55% on global cues
Weak trend in base metals at LME after European Commission cut growth forecasts for the euro area
 "Aluminium sheds 0.55% on global cues")
Exporters sale oilmeals in forward contracts to protect price
Oilmeal prices have already declined by a steep 20% since May this year after bumper global soybean crop estimates
Gold futures decline 0.64% on global cues
Traders trim positions as metal loses 0.4% in Singapore
 "Gold futures decline 0.64% on global cues")