Several factors contributed to copper’s strong performance during yesterday’s trading session, which saw it close up 1.11% at 855.3. A weaker dollar aided the upward momentum after the release of negative U.S. jobs data and projection revisions indicating a reduction in supply due to mining disruptions. Concerns about supply were raised by the International Copper…
The Federal Reserve kept interest rates unchanged and admitted their efforts to reduce inflation have failed. This caused the price of gold to rise as it is seen as a hedge against inflation. The central bank also indicated that additional rate hikes are unlikely in the near future. The Fed’s recent comments were seen as…
The Centre has reduced the windfall tax on domestically produced crude from Rs 9,600 per tonne to Rs 8,400 per tonne, effective immediately. The windfall tax remains unchanged at nil for diesel and aviation fuel turbines. Earlier on April 16, the government had increased the windfall tax from Rs 6,800 to Rs 9,600 per tonne….
Natural gas saw a 5.11% increase and ended up at 168.7 due to several variables that affected market dynamics. A decrease in output combined with more feed gas supplied to the Freeport LNG export facility raised market activity. Natural gas flow to U.S. LNG export facilities increased significantly, hitting a three-week high. Freeport LNG in…
Prices for cotton candy increased slightly by 0.55% to settle at 58660, driven by strong demand from major consumers such as Bangladesh and Vietnam for Indian cotton. Net sales for the 2023–2024 season increased significantly, according to the USDA’s weekly export sales report. These sales were up 79% from the previous week and 64% from…
Jeera or cumin faced a decline of -0.73% due to increased arrivals, but global buyers still prefer Indian jeera due to tightening global supplies. The influx of new arrivals outpaced demand, thanks to favourable weather conditions and increased sowing areas in major cumin-producing regions of India. In 2023, Gujarat produced 4.08 lakh tonnes of cumin,…
Aluminum prices rose by 0.93% to settle at 237.75 due to supply concerns from sanctions on Russian metals. The London Metal Exchange (LME) and Chicago Mercantile Exchange (CME) were prohibited from accepting new Russia-made aluminum, copper, and nickel. This led to dwindling aluminum stocks to 171,200 tones, the lowest level since August 2022. China’s demand…
Due mainly to predictions of additional arrivals from the Marathwada region of Maharashtra, turmeric prices saw a modest fall yesterday, finishing at 19030 with a –0.27 % decrease. But low-than-average supply and strong holiday demand kept the negative to a minimum. Reports suggest that supply levels are below average despite the inflow of new entrants,…
Silver prices saw a small increase of 0.1% to close at 82496 as investors kept a close eye on the Federal Reserve’s monetary policy path after the US Personal Consumption Expenditures (PCE) data was released. The annual rates exceeded projections, even though the monthly key and core inflation rates aligned with expectations. This highlights ongoing…
Gold prices moved little in Asian trade on Monday, seeing little relief from recent losses as traders continued to price in higher-for-longer U.S. interest rates before a Federal Reserve meeting later this week. The yellow metal tumbled from record highs hit earlier in April as safe-haven demand waned in the absence of any escalation between…
