Crude oil prices rose by 0.6% during yesterday’s trading session, ultimately closing at 6551. This increase was primarily driven by a notable decline in oil inventories. The US oil stockpiles dropped by 2.508 million barrels more than anticipated, according to data released by the Energy Information Administration (EIA), exceeding market expectations. In addition, surprise drops…
Turmeric prices jumped by 1.37% to close at 18160, driven by farmers hoarding supplies in case prices rise higher amid an impending shortage worsened by the hot wave that is now affecting much of India. The intense heat wave poses a risk to agricultural harvests, further taxing already limited supplies and driving up prices. Concerns…
Short-covering activity followed a recent decline in prices caused by a spike in stockpiles reported by the London Metal Exchange (LME) that led to a little uptick in aluminium yesterday, with the metal climbing by 0.54% to settle at 233.95. Data showed that LME warehouses were experiencing a major influx of aluminium, as stockpiles more…
Yesterday saw pressure on cotton candy, which ended up down -0.95% at 56600. This was mostly because of worries about slow milling demand amid a slowdown in yarn demand worldwide. The bearish feeling was further exacerbated by the possibility of a better crop in nations such as Australia. On the other hand, strong demand from…
Copper prices rose by 1.58% to 883.5 due to increasing demand and tightening supply, raising concerns about potential shortages. The metal’s crucial role in electrification and its use in AI and automation infrastructure has led to optimistic forecasts about its future demand. Despite soaring prices, China’s continued importation of ore signals sustained demand from manufacturers,…
With investor confidence in the market driven by predictions of strong demand growth and U.S. interest rate decreases zinc surged by 1.49% to settle at 265.2. Zinc prices were supported by encouraging signals from China, where imports and exports increased in April, indicating a recovery in both domestic and foreign demand. The market’s mood was…
Due to a slowdown in the rate of arrivals and stockists and farmers holding onto inventory in anticipation of higher prices, jeera prices increased by 4.06% to close at 27300. A cautious approach from vendors is shown by the minor increase in jeera arrivals in major APMC mandies across India during the first week of…
The price of aluminium fell by 1.45%, closing at 230.85. The main cause of this decrease was a notable rise in the overall amount of aluminium stored in warehouses registered with the London Metal Exchange. Based on daily LME statistics, the accumulation of aluminium stockpiles surged by 88% to 903,850 metric tonnes, the largest level…
The price of cotton candy fell somewhat, by -0.1%, to settle at 57360. This was mostly caused by a slowdown in the demand for milling amid a downturn in the demand for yarn on the international market. Expectations of a better crop in nations like Australia added to the pressure on prices. The drawback was…
The government may lift restrictions on rice exports due to a huge surplus of rice stocks and an expected ‘above normal’ monsoon. Last year’s below-normal rainfall affected rice output, but this year’s forecast of normal-to-excess rain could lead to a better output. Retail rice prices rose by 12.69% on year in March. The inflation in…
