Page 695 - Commodity News
Mentha oil down 0.2% on subdued demand
Oil for delivery in July contract shed 0.2%
 "Mentha oil down 0.2% on subdued demand")
Lead down 0.7% on global trend, subdued domestic demand
Market analysts said besides subdued demand, a weak trend in metal at the LME, weighed on lead futures prices
 "Lead down 0.7% on global trend, subdued domestic demand")
Copper sheds 0.61% on weak global cues
Metal weakens in London and Shanghai on US Fed's continued cut in bond purchases
 "Copper sheds 0.61% on weak global cues")
Zinc down 0.59% on subdued demand, weak global cues
Trader spare positions as metal turns weak in London on US Fed continuing its cut in monthly bond-purchases
 "Zinc down 0.59% on subdued demand, weak global cues")
Nickel sheds 1.2% on global trends, subdued spot demand
Lower offtake from alloy makers weighs on on prices in futures trade
 "Nickel sheds 1.2% on global trends, subdued spot demand")
FMC bans fresh positions in potato futures
Concerned at 'one-sided' price movements; imposes fresh margins on buyers, asks MCX to investigate source of funds of top participants
 "FMC bans fresh positions in potato futures")
Steps on agri commodity prices unlikely to have immediate effect
Price spurt in potato and onion are based on fundamentals, onion MEP 25% less than current fob price hence, makes no sense
 "Steps on agri commodity prices unlikely to have immediate effect")
Pig iron firms may roll back price rise partially
Domestic sponge iron sector in wait-and-watch mode, trying to gauge market appetite
 "Pig iron firms may roll back price rise partially")
Coffee output climbing as rains spur bean growth
Higher production may boost shipments, expanding global supplies and potentially pressuring prices
Brent holds above $113 amid Iraq violence
Brent lost 14 cents to $113.31 a barrel by 0653 GMT, after settling 51 cents higher
 "Brent holds above $113 amid Iraq violence")
Jewellery exporters want help on credit
The industry is expecting favourable policy support from the government, with this segment being one of the largest foreign currency earners
 "Jewellery exporters want help on credit")
Huge stocks, drop in buying interest to keep turmeric prices subdued
In the Erode market, stocks were of poor quality, mostly the carried-over from the last two years
 "Huge stocks, drop in buying interest to keep turmeric prices subdued")
Mentha oil sheds 1.04% on profit-booking
Pile up of inventories following higher arrivals from producing areas fuels downtrend
Gold down 0.5% on weak global cues
Metal for delivery in far-month October contracts shed 0.46%
 "Gold down 0.5% on weak global cues")
Silver down 0.5% on weak global trend
Metal prices for delivery in September lost 0.4%
 "Silver down 0.5% on weak global trend")
Potato down 4% to hit lower circuit on higher supply
Commodity for delivery in June month contracts lost 3.57%
 "Potato down 4% to hit lower circuit on higher supply")
Sugar up 0.2% as demand picks up
Commodity for delivery in June contract traded up by 0.07%
 "Sugar up 0.2% as demand picks up")
Palm oil up 0.6% on rising demand
Restricted supplies from producing regions also supported the upside
 "Palm oil up 0.6% on rising demand")
Oil prices mixed ahead of Fed policy statement
Investors also remain jittery over the unabated sectarian violence in Iraq
 "Oil prices mixed ahead of Fed policy statement")
Quality issues hit agri shipments
After Saudi ban on chili import from India due to pesticide residue, Russia finds pest infestation in potato import; Apeda warns exporters