Page 3 - Commodity

Hindustan Zinc will ramp up production of zinc to 1.5 mn tonnes: Chairman

Hindustan Zinc Ltd will ramp up production of zinc - that is used in batteries to medicines - to 1.5 million tonnes, chairperson Priya Agarwal Hebbar said on Thursday as she looked to make India's largest zinc producer as one of the best firms in the world. Speaking at the company's annual shareholders meeting, she said when the economic history of 21st-century India is written, the turnaround story of Hindustan Zinc will have a chapter of its own. Incorporated as a public sector firm in 1996, the Atal Bihari Vajpayee-led NDA government in August 2002 sold a controlling stake in the firm to Vedanta group firm Sterlite Industries for around Rs 769 crore. Hindustan Zinc is today the second largest zinc-lead miner in the world after Swiss firm Glencore and the fourth largest zinc-lead smelter globally. It has now also broken into the top 10 list of silver producers in the world. The profitability has grown manyfold and so has its production capacity of zinc, lead and silver - from 0.2

Sebi tweaks method for calculating Settlement Guarantee Fund in commodity

Capital markets regulator Sebi on Tuesday revised the methodology for clearing corporations with regard to computation of core Settlement Guarantee Fund corpus in commodity derivatives segment. A core Settlement Guarantee Fund (SGF) is a corpus used for settlement of trades during defaults and all intermediaries -- stock exchanges, clearing corporations and brokers -- contribute towards it. Sebi received representations from clearing corporations that in light of the turnover and the open interest observed at the stock exchanges in the recent times, the target corpus level prescribed in 2018 need to be reviewed and methodology for computation of core SGF corpus in commodity derivatives segment. In its circular, the regulator said that the clearing corporations in commodity derivatives segment can now align their core SGF in terms of its framework issued in August 2014 and July 2018 and excess contribution may be returned to the contributing stakeholders on a pro-rata basis, after ..

Sebi allows FPIs direct mkt access to exchange traded commodity derivatives

Capital markets regulator Sebi on Wednesday allowed stock exchanges to extend direct market access facility to foreign portfolio investors (FPIs) for participation in Exchange Traded Commodity Derivatives (ETCDs). The new provision would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular. Direct Market Access (DMA) facilitates the clients of a broker to directly access the exchange trading system through the broker's infrastructure to place orders without manual intervention by the broker. Also, DMA provides certain advantages to brokers such as direct control over orders, faster execution of orders, reduced risk of errors associated with manual order entry, maintaining confidentiality, lower impact costs for large orders and implementing better hedging and arbitrage strategies. "Based on representations received for enabling DMA facility to FPIs in ETCDs and deliberations by Commodity Derivatives Advisory Committee (CDAC) o

Rural demand has come back, but El Nino a worry: Adani Wilmar MD & CEO, CFO

'In the commodity business, it is volume that matters. We have grown 16 per cent annually'

Sugar rush: Ex-mill prices up nearly Rs 150-200 per quintal in a month

Concerns about low output behind the uptick; retail prices may remain flat

Shining bright: Record high prices to weigh on demand for gold

Domestic prices are up 8 per cent in the last fortnight; international gold price trades around $1,970 after breaching $2,000 on Monday

Taking global cues, gold prices climb Rs 480; silver up Rs 2,150

In the overseas markets, gold and silver were trading 0traded higher at $1,909 per ounce and $20.80 per ounce, respectively

Silver lining: India's imports at record 9,450 tonnes amid demand revival

The surge was led by demand revival from industry, fabricators and investors

Wheat prices climb amid delay in open-market sales by the Centre

The spike in prices coupled with almost-empty pipelines has renewed calls from flour mill owners for the government to liquidate some part of its wheat inventory

Basmati, non-basmati rice exports rose 7.37% YoY to Rs 126,000 tonnes

India's aromatic basmati and non-basmati rice exports rose 7.37 per cent to 126.97 lakh tonnes during the April-October period of the current fiscal, despite restrictions on the shipments, according to industry data. Exports stood at 118.25 lakh tonnes in the same period during the previous fiscal. "Despite curbs on exports of some varieties of rice, the overall exports remained strong so far," said Vijay Sethia, former president at All India Exporters Association. Out of total exports, basmati rice exports rose to 24.97 lakh tonnes during the April-October period of the 2022-23 fiscal, from 21.59 lakh tonnes in the year-ago period, he told PTI. Non-basmati rice exports increased to 102 lakh tonnes from 96.66 lakh tonnes during the comparable period, Sethia added. Basmati rice was shipped mainly to traditional markets of the US, Europe and Saudi Arabia, while non-basmati rice was exported largely to African countries. In September, the government had banned export of broken rice

India's inflation at 7.4%; What are inflation numbers in other countries?

Since the start of the Russia-Ukraine war in February, almost all the economies have been facing high inflation mainly driven by high commodity costs, and supply chain constraints

Sebi panel weighs relaxations in commodity derivatives framework

Looks at how market-wide position limits are calculated for commodity derivatives contracts

Are FMCG companies eyeing better margins ahead?

The consumer basket in India has been adversely affected due to the high food inflation and weak macro environment. However, easing commodity prices is expected to ease margin woes of FMCG companies

India's demand for gold rises 43% in June qtr as economy recovers: WGC

As the economy recovers from the coronavirus damage, India's gold demand for the June quarter increases by 43% compared to the corresponding quarter last year, says a report by World Gold Council.

Gold-Silver Price Today: Prices go down for a while - Monday, 1 August

Gold and Silver prices go down gradually. Chennai to be the most expensive to city to buy gold and silver.

China stimulus unlikely to reverse rout in the global metals market

While Chinese stimulus played a role in rescuing industrial commodities from slumps in global demand, after the 2008 financial crisis, in late 2015, and in 2020, there's much more caution this time

Nifty auto index surges 7% in biggest weekly advance in 17 months

The latest gain comes on the back of easing commodity prices and supply chain issues

No sign of overcapacity yet as global commodity prices come off peaks

The exception is energy, which isn't dictated by liquidity conditions, but by decisions of the Opec-plus cartel, where plenty of other factors come into play

Ukraine war impact: Bengal foundry units face heat as input prices soar

Many have been forced to drastically prune operations, taking a toll on workers' wages

Booming wheat exports from India to help relieve global shortages

The country is the top global producer of wheat after China