Page 633 - Commodity News
Nickel drops by 0.3% on global cues
Speculators reduced their exposures amid a weak trend overseas
 "Nickel drops by 0.3% on global cues")
 "Crude oil outlook: Floor not too far from current levels")
Sugar stocks fall by 25% at nearly 7 million tonnes
Lower output and higher exports last year are the main reasons
 "Sugar stocks fall by 25% at nearly 7 million tonnes")
Tamil Nadu govt hikes milk price by Rs 10
The price increase will be effective from November 1
 "Tamil Nadu govt hikes milk price by Rs 10")
Rabi oilseed sowing trebles on better soil health
The sowing area under maize also shot up to 0.07 million ha as of October 25, compared with 0.05 million ha in the previous year
 "Rabi oilseed sowing trebles on better soil health")
Sponge iron prices fall on cheaper raw materials
Sponge iron is being quoted at Rs 21,000 a tonne, against Rs 22,000 a tonne in the beginning of this month
 "Sponge iron prices fall on cheaper raw materials")
Brisk gold jewellery sale seen this Diwali
Wait for a price fall seems to have ended for now, trade expects demand revival to continue for some months
 "Brisk gold jewellery sale seen this Diwali")
NAFED to invite EoI for import of 25K tonnes potatoes
Potato prices have shown a rising trend during the recent weeks and the commodity is being retailed at Rs 35-40 per kg in the National Capital
 "NAFED to invite EoI for import of 25K tonnes potatoes")
Comexes look forward to better times
NCDEX has seen volumes surge 15%
 "Comexes look forward to better times")
Oil resumes slide in Asian trade
Investors wait for more signs of economic growth in Europe
 "Oil resumes slide in Asian trade")
Govt to aid coffee growers in fight against pest attacks
The severity of WSB attacks has been such that many estates have resorted to uprooting arabica plants to avoid further damage
 "Govt to aid coffee growers in fight against pest attacks")
Adverse market conditions forcing closure of oilseed crushers
Refiners prefer to import crude palm oil from Malaysia and Indonesia, finding this cheaper than local crushing
 "Adverse market conditions forcing closure of oilseed crushers")
 "HKEx aims to expand mini contracts to more metals and coal")
Tyre manufacturers mull increase use of synthetic rubber to protect margins
Natural rubber price at Rs 118 a kg on October 14 which shot up to Rs 125 a quintal on October 22
 "Tyre manufacturers mull increase use of synthetic rubber to protect margins")
Diamond industry says no better days ahead if margins not improve
Antwerp Diamond Bank has over 10% market share in financing of the diamond industry
 "Diamond industry says no better days ahead if margins not improve")
FMC liberalises norms on commodities futures
Sets much higher position limits, at 50% of production and imports, client/member-wise positions to double
 "FMC liberalises norms on commodities futures")
Samvat 2070: Gold gives lowest returns in 17 years
The price of gold is 8.8% less than at the year's start, the biggest such slide since Samvat 2053
 "Samvat 2070: Gold gives lowest returns in 17 years")
Groundnut exports jump 38% in first half of FY 15
India exported over 220,000 tonnes of groundnut between April and September 2014
 "Groundnut exports jump 38% in first half of FY 15")
Sept steel output drops in major nations; India logs rise
In India steel production grew by 2.5% to 6.8 MT during the month
 "Sept steel output drops in major nations; India logs rise")
Lead down 0.2% on sluggish spot demand
Metal for delivery in November also shed 0.08%
 "Lead down 0.2% on sluggish spot demand")