Aluminium prices fell 0.08% to ₹241.7 on global production data. According to the International Aluminium Institute (IAI), primary aluminium production rose 3% year-on-year to 6.04 million tonnes in November. China, the world’s largest aluminium producer, increased its production by 3.6% to 3.71 million metric tonnes. Similarly, the 3% increase from October and 3.6% increase in…
India’s rabi crop area has improved somewhat, with wheat and pulses accounting for the majority of the acreage. Despite a late start, more wheat has been sown, although important oilseeds such as groundnut and mustard have been sown less than in previous years. The government has set production targets for several crops, and the rabi…
Gold prices in Asian trade remained unchanged, despite the US Federal Reserve’s interest rate cuts this year. Spot Gold was at $2,607.65 per ounce, while Gold Futures expiring in February edged 0.2% lower to $2,620.22 an ounce. Gold prices have risen more than 26% in 2024 due to the Fed’s outsized rate cuts earlier this…
Natural gas prices rose by 0.85% to ₹284.3 due to higher global LNG demand and colder weather in the U.S. by mid-January. Industry estimates increased demand forecasts by 18 billion cubic feet, signaling the onset of the withdrawal season. Concerns over Russian gas reaching Europe via Ukraine have driven demand for U.S. LNG exports. U.S….
Gold prices fell 0.37% to ₹76,544 on a strong dollar and rumours that the central bank would be cautious on rate cuts in 2025. The possibility of major policy changes once the US president returns to the White House in January 2025 has made global markets volatile. In India, demand for gold has eased as…
Trading volume was thin before the official start of the New Year, as many traders and institutional investors typically take a break for the holidays. Year-end profit-taking and portfolio rebalancing are dampening trading activity. The U.S. Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy, is expected to release its weekly…
Zinc prices rose by 1.15% to ₹282, driven by China’s plans to issue $411 billion in special treasury bonds next year. This move aims to support the world’s largest zinc consumer amid economic challenges. However, inventories in Shanghai Futures Exchange warehouses fell by 20.80%, indicating tighter supply conditions. The global zinc market faced a deficit…
Increased sowing and favourable crop conditions put downward pressure on turmeric prices, which fell -1.11% to Rs 13,836. Despite some weather-related delays, crop conditions are assessed as good to excellent. Major trading locations like Hingoli and Erode saw significant inflows, but Hingoli markets remained closed. Market inflows increased to 9,030 bags from 7,965 bags in…
Wheat cultivation in the Rabi season has increased by 2.5% to 312.28 lakh hectares (lh) due to stable prices and farmers’ appetite for government incentives. However, the area under oilseeds and pulses has declined, as a result of increased imports and falling market prices, putting India’s hopes of self-sufficiency at risk. Wheat’s strong market performance…
Jeera prices have declined by -0.15% to ₹23,935 due to profit booking and delayed sowing in Gujarat and Rajasthan, key producing states. Higher temperatures have hampered seeding and germination, resulting in sowing covering only 15% of the cropping area. Rajasthan’s cumin cultivation is expected to decrease by 10-15%. India’s cumin production reached 8.6 lakh tonnes…
