Short covering and worries about a lack of supply on the international market caused aluminium prices to jump by 1.07% yesterday, closing at 235.5. At a substantial discount of $62.44 per tonne to the three-month contract, the largest since August 2007, the London Metal Exchange (LME) cash aluminium contract was traded. The reason behind this…
Due to strong local and export demand as well as limited worldwide supply, jeera prices rose by 2.13% yesterday to close at 27,515. Notwithstanding these positive indicators, forecasts of increased output in the current season limited the upside potential and might put pressure on pricing moving forward. Farmers holding back supplies in anticipation of stronger…
A fall in daily output and predictions of hotter-than-normal weather in late June caused natural gas prices to drop 1.62%, ultimately ending at 242.5. This decline was caused by profit bookings following previous increases. One factor influencing the market dynamics was the recovery of gas flow to LNG export facilities, especially after the reopening of…
Due to yesterday’s higher dollar, better-than-expected US job data, and inconsistent trade data from China, the country’s top metals consumer, aluminium slid 2.5% to 235.6. The US economy produced significantly more jobs last month than anticipated, according to data, which raised the dollar and suggested that the Federal Reserve would postpone starting its easing cycle…
Cotton candy dropped -0.11% to 56840 yesterday as the global market’s weak demand for yarn continues to raise concerns about the slow demand for milling. The drawback, meantime, seems to be minimal given the strong demand that buyers in Bangladesh and Vietnam, among other nations, continue to have for Indian cotton. In areas like Australia,…
Energy services provider Baker Hughes (BKR.O), opening a new tab stated in its widely watched report on Friday that U.S. energy companies reduced the number of oil and natural gas rigs operating this week to the lowest since January 2022. In the week ending June 7, the number of oil and gas rigs declined by…
Aluminum prices increased by 1.07% to reach 241.65 as a result of increased confidence over prospective rate cuts by central banks and their expected benefits for economic expansion. Gains were restrained, nevertheless, by worries about the market’s weak demand. An important intermediate component in the manufacturing of aluminum, alumina, has become scarce as a result…
Jeera prices increased by 1.61% to reach 29610 in response to strong export and domestic demand as well as limited worldwide supply. Farmers holding onto their stock in anticipation of higher prices added to the rising momentum. The upside potential is, however, constrained by projections of increased output, which may drive prices lower. This season,…
The price of cotton candy increased by 0.85% to reach 56,960, driven by strong demand from Bangladesh and Vietnam for Indian cotton, despite worries over slowing milling demand and weakening yarn demand worldwide. Still, hopes for a stronger crop in places like Australia limited the positive. The ICAC (International Cotton Advisory Committee) has forecasted growth…
Traders mostly disregarded the EIA report revealing an unexpected increase in crude oil stockpiles, as crude oil prices increased by 0.37% to settle at $6,190. According to EIA statistics, rather than the market’s estimate of a 2.30 million barrel reduction, U.S. oil stockpiles grew by 1.233 million barrels for the week ending May 31, 2024….
