The simmering geopolitical concerns in West Asia and the hardening of US Treasury yields caused the rupee to fall to an all-time closing low of 83.54 against the dollar on Tuesday. During intraday trading, the local currency fell to a record low of 83.56, but the Reserve Bank of India (RBI) probably intervened to stop…
The API said on Tuesday that although U.S. crude stockpiles increased last week more than anticipated, gasoline inventories decreased, suggesting that refinery activity is still recovering despite rising fuel demand. The U.S. benchmark crude oil futures, WTI Futures, settled down 0.1% at $85.36 a barrel before trading at $85.28 a barrel in response to the…
New sanctions imposed by the US and UK on Russian metals have caused a 2.65% hike in aluminum prices, settling at 232.45. The primary aim of these sanctions is to restrict Russia’s ability to export metals, particularly aluminum, which it uses to fund its armed activities in Ukraine. These restrictions have raised concerns about market…
The introduction of fresh sanctions by the West on Russian commodities caused a tremor in the commodity markets and caused copper prices to rise by 1.31%, ultimately trading at 831.3. Aluminium, copper, and nickel were among the commodities for which the US and the UK imposed sanctions on the importation of Russian supplies made after…
The price of cotton candy saw slight increases, closing at 59920, mostly due to short covering after a prior decline in price amid hopes for better harvest conditions in nations like Australia. For the forthcoming season, 2024–2025, the International Cotton Advisory Committee (ICAC) predicted increases in several indicators, including the area used to produce cotton,…
Yesterday, jeera prices fell significantly, falling -2.14% to 22400, mostly as a result of market pressure from expected increases in arrivals. The Rajkot Mandi market saw 10,000–12,000 bags arrive every day, exceeding the amount of demand that is now in place. Production has significantly increased due to favorable weather and an expansion of the sowing…
Turmeric prices fell sharply, by -3.76%, to settle at 16112, mostly due to anticipation of fresh entrants from Maharashtra’s Marathwada region. The downside was constrained despite this negative pressure because of below-average supply and strong festive demand. Important marketplaces like Nanded, Nizamabad, and Erode saw a sharp increase in new crop supplies, with arrivals much…
The price of aluminium increased by 1.05% to settle at 226.45 as money flooded into commodities, especially metals, a hedge against mounting inflationary pressures. The rise in demand for aluminium aligned with China’s robust production numbers, suggesting a stable growth path for the metal. March saw a year-over-year increase in aluminium output of 4.19% to…
Morgan Stanley predicts a sustained upside in iron ore prices, targeting $120/t in Q3. The firm’s strategists believe that the resistance level is at $100/t, and as the mood improves on China demand and supply slippages, the price risk is skewed upwards. The strategists also noted that the price has traded on average at a…
The National Statistical Office (NSO) issued data on Friday that showed that retail inflation, which is based on the Consumer Price Index (CPI), decreased to a 10-month low of 4.85% in March from 5.1% in February, despite high food costs. In the upcoming months, food prices are predicted to stay erratic. In the meantime, the…
