Due to a declining dollar and expectations of increased demand in China as a result of the government’s projected economic stimulus, copper prices increased on Monday. The central bank is anticipated to loosen monetary policy soon after the Chinese government announced that it would intensify efforts to stabilize the country’s economy. However, for the time…
When compared to the same period in the previous financial year, the total export of oil meals grew by 50% to 23.92 lakh tonnes (lt) between April and November 202223 from 15.96 lt. The export of oil meals increased by 150 percent from 1.63 lt in November 2021 to 4.07 lt in November 2022, according…
As optimism from China’s reopening and a resurgence in oil demand overshadowed worries of a global recession, oil prices recovered ground on Monday after dropping more than $2 per barrel in the previous session. While U.S. West Texas Intermediate crude was at $74.89 a barrel, up 60 cents or 0.8%, Brent crude futures increased 72…
On Monday, gold prices barely changed as markets processed a barrage of hawkish central bank signals and rising recession concerns, but copper prices recovered some of their recent losses thanks to expectations of a Chinese economic recovery. The Federal Reserve and the European Central Bank both warned that interest rates are likely to rise higher,…
The Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch has been urged by the Commodity Participants Association of India (CPAI) to request that MCX swiftly disclose the new cotton futures contract specification. The present contract will expire on December 30, according to CPAI President Nariender Wadhwa, who noted that MCX informed on…
The government on Thursday reduced the windfall tax on exports of domestically produced crude oil and diesel due to the decline in the price of oil globally. The windfall tax on locally produced crude oil has been reduced by Rs 1,700 per tonne from Rs 4,900 per tonne, according to a notice from the finance…
The first month of the oil year 2022–2023 saw an increase in imports of 34.24 percent (November to October). Data from India’s Solvent Extractors’ Association show that edible oil imports rose to 15.28 lt in November 2022–23 from 11.38 lakh tonnes (lt) in November 2021–22. (SEA). India imported 9.31 lt of CPO in November, up…
Despite the fact that the first anticipated polar vortex in four years could arrive as soon as next week, natural gas prices fell further on Wednesday as traders tried to fix a market that had risen nearly 30% over the previous five sessions. The Henry Hub on the New York Mercantile Exchange saw a decline…
Early trade on Wednesday saw a decrease in oil prices as industry data revealed a significant gain in U.S. crude stocks rather than the expected decline. This confirmed concerns about a weaker demand even as supply is becoming more constrained. West Texas Intermediate (WTI) crude futures for the United States decreased by 30 cents, or…
Following a significant increase the day before, gold prices were around a six-month high on Wednesday as markets anticipated an interest rate increase from the Federal Reserve later in the day as well as their comments on lessening inflationary pressures. As evidence that price pressures in the nation have peaked and are expected to retreat,…
