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Weak global prices to keep domestic edible oil in a narrow range

India is the largest importer of edible oils in the world, importing roughly 70-75 per cent of its requirements. The country imported about 145 lakh tonnes of edible oil last year composing of crude and refined palm oil, crude soya oil, sunflower oil and rapeseed oil. India imports palm oil from Indonesia and Malaysia, soyabean […]

Gold steadies before US retail sales numbers

Gold prices held steady on Tuesday as investors awaited retail sales data from the United States later in the session for cues on the health of the world’s largest economy. Spot gold inched up 0.1 per cent to $ 1,414.92 per ounce by 1015 GMT. US gold futures rose 0.2 per cent to $ 1,416.60. […]

Copper Holds Firm Near Two Week High As Traders Eye Supplies

Copper stayed supported around two week high as mining major Rio Tinto said that in view of the stability risks identified with the approved mine design that might entail relocation of the critical underground infrastructure, the first production from the Oyu Tolgoi copper project is expected to be achieved between May 2022 and June 2023. […]

Oil gains as Iran tensions outweigh US supply boom

LONDON: Oil prices rose on Tuesday as tensions in the Middle East outweighed the impact of a resumption of production in the Gulf of Mexico after Hurricane Barry and a boom in US supply from shale oil. But gains were capped by uncertainty about China’s economic prospects after data on Monday showed that growth in […]

Base Metals: Zinc, nickel, copper futures up on spot demand

New Delhi: Zinc prices rose 0.18 per cent to Rs 194.45 per kg in futures trade Tuesday as speculators built up fresh positions, taking positive cues from the spot market. On the Multi Commodity Exchange (MCX), zinc contracts for July delivery traded higher by 35 paise, or 0.18 per cent, at Rs 194.45 per kg […]

Mentha oil inches up on raised spot demand

NEW DELHI: Mentha oil saw some gains in futures trade on Tuesday on an uptick in demand by consuming industries at spot markets. Speculators raised positions in mentha oil futures as demand from consuming industries climbed amid limited supplies from key producing regions. Around 11 am, MCX Mentha oil was at Rs 1,239.60 per kg, […]

Gems, Jewellery exports likely to decline 10-15%

Kolkata: Gems and jewellery exports are likely to decline 10-15 per cent year on year in this financial year owing to choppy global economies, high import duty on gold and diamonds, and liquidity crunch in the sector, said industry executives. There is a lull in demand in overseas as well as domestic markets, said Colin […]

Commodities Buzz: Chinas Copper Imports Tumble Around 27% In June

Chinas unwrought copper imports in June fell 27.2% from a year earlier, official data showed that as a slowdown in the worlds second biggest economy continues to weigh on demand for the metal. Arrivals of unwrought copper were 326,000 tonnes last month, the General Administration of Customs said, down 9.7% from 361,000 tonnes in May […]