The optimistic developments in China’s policy support for its economy caused copper prices to marginally decrease by -0.05%, ultimately finishing at 729.5. China’s central bank gave a strong signal of support for the nation’s weak economy when it announced a significant reduction in bank reserves, bringing in approximately $140 billion to the banking sector. Furthermore,…
After spending the most of the morning in a narrow range as traders awaited new signals for directional momentum, the Indian rupee finished Thursday’s trading session largely unchanged. The rupee scarcely moved from its previous level of 83.1225 to conclude at 83.1150 vs the US dollar. The local unit experienced a 0.06% weekly loss .Due…
Zinc prices increased by 1.72% to settle at 228.1, fueled by growing anticipation that China, the world’s largest metals user, would announce more stimulus measures. In response to economic difficulties, China’s central bank governor announced a 50 basis point cut in the reserve requirement for banks, beginning from February 5. Furthermore, effective of January 25,…
Prices for cotton candy showed signs of life, finishing 0.45% higher at 57500 after recently declining due to a predicted decline in global consumption for the 2023–2024 season. The main causes of the decline in consumption are the reduced projections for Turkey, Indonesia, Pakistan, India, and Uzbekistan. In addition, higher beginning stocks, increased output, and…
Low-level buying caused the jeera prices to rise sharply, 4.02%, to settle at 28350 following a recent decline ascribed to improved production forecasts in the major farming states of Gujarat and Rajasthan. The current rabi season saw acreage for jeera hit a four-year high, demonstrating a strong relationship between cultivated area and market pricing. Gujarat…
Due in part to a minor increase in the offshore Chinese yuan and a decline in the dollar index, the Indian rupee ended the day on Wednesday slightly higher. After closing at 83.15 in the previous session, the rupee closed at 83.1225 versus the US dollar. The dollar index fell 0.4% to 103.07, and the…
Aluminum posted a strong performance, rising 2.42% to 203.1 points, on optimism of further stimulus in top metals consumer China. China and the government have promised to inject more funds into the capital market to stabilize confidence, potentially mobilizing around 2 trillion yuan to support the stock market slump. According to a report by the…
A weaker U.S. dollar helped copper settle up 0.16% at 722.35, as traders and investors remained cautious ahead of key central bank meetings. With an eye on raising almost $2 trillion, Chinese authorities are considering a series of steps to stabilize the collapsing stock market. The Chinese government has pledged to implement more potent measures…
Prices for turmeric rose 5.99%, to $15,598. This increase was fueled by tightened supply, better export chances, and declining production expectations. Slower purchasing activity in advance of stock releases prior to the new crops scheduled to begin in January 2024 also provided assistance to the market. However, pressure from better crop conditions brought on by…
Due to favorable weather in the major growing states, the nation’s sugar production in the current season (2023–24) is probably going to exceed the 32.5 million tonne (MT) forecast last month, the Indian Sugar Mills Association (ISMA) stated on Tuesday. According to ISMA, the standing cane crop has benefited from recent weather, and cane commissioners…
