Aluminum prices rose 1.1% to ₹252.55 on supply concerns and EU sanctions on Russian aluminum imports.Also, aluminum stocks in LME-registered warehouses have fallen 45% since May 2024, totaling just 619,375 tonnes. More than 60% of canceled warrants indicate that more aluminum could leave LME warehouses in the coming weeks, significantly reducing supply. This supply reduction…
Aluminum prices rose 0.06% to ₹238.4 as supply concerns persisted in the LME market. Aluminum production in December was above $40. More metal is set to leave LME warehouses soon. The International Aluminum Institute (IAI) said global primary aluminum production rose 3% year-on-year to 6.04 million tonnes in November. In the first ten months of…
Rio Tinto (LON:RIO) lifted force majeure on alumina exports from Australian refineries and eased supply constraints, sending aluminum prices down 0.04% to ₹241.75. RUSAL announced a phased reduction in aluminum production by 250,000 tonnes due to record-high alumina costs that have risen to nearly $700/tonne by early 2024. China, the world’s largest aluminum producer, has…
India’s cotton production is expected to decline by 7% to 302 lakh bales in 2024-25. The Cotton Association of India (CAI) attributed the decline to a change in crop preferences in key regions such as Gujarat and Maharashtra. The decline is due to a significant reduction in cultivated area as farmers in key cotton-growing regions…
The introduction of cotton seed wash oil futures was announced by the top commodities exchange, MCX, on Tuesday. According to a statement from MCX, each contract will have a trading unit of five tonnes, with a base value quoted in rupees per ten kilograms at Ex-Tank Kadi, Gujarat. Participants have inexpensive access to hedging because…
With Israel accepting a plan to address the issues preventing a ceasefire agreement in Gaza, concerns over a disruption in Middle Eastern oil supplies were allayed, and oil prices inched down on Tuesday. At $77.54, Brent crude dropped 12 cents, or $2.02, or 0.15%. Tuesday’s front-month U.S. West Texas Intermediate oil futures were down 14…
At Unjha (Gujarat), the center of the trade, the average mandi prices of cumin seeds (jeera) have dropped by 50%, from Rs 600/kg in October to Rs 300/kg. According to traders, the dip was caused by expectations of a record crop. much though jeera is starting to arrive in the mandis, the peak of arrivals…
