Markets - Commodities
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MUMBAI: Indian sugar futures fell on Wednesday on profit-taking from their highest level in more than two months, although rising demand from bulk buyers and concerns over production in 2013/14 due to lower acreage limited the downside.The key June contract on the National Commodity and Derivatives Exchange was down 0.61 percent at 3,077 rupees ($55.66) per 100 kg at 0753 GMT, after rising to 3,104 rupees in the previous session, the highest level since March 13."Ice-cream and cold drink makers will remain active in the market in the coming weeks. Prices will remain steady in the short term as supplies are comfortable," said Mukesh Kuvadia, secretary of the Bombay Sugar Merchants Association.Demand for sugar from ice-cream and beverage makers typically rises during the summer.Concerns that sugar output in the top producing Maharashtra state may fall sharply due to drought also limited the downside, dealers said.Sugar cane is a perennial, water-intensive ...
NEW DELHI: India's cable makers face a severe shortage of copper and potential manufacturing delays after the closure of the country's two biggest copper smelters, which has pushed up prices and led to a spike in imports.India's biggest smelter, owned by Sterlite Industries , was shut on March 30 after local residents complained of emissions that led to breathing difficulties, forcing top copper users to rely on rival Hindalco Industries for almost all their copper ...
NEW YORK/LONDON: Gold trimmed its losses on Tuesday as the euro regained strength against the dollar, but the metal remained lower on weak chart signs and fears the US Federal Reserve will wind down its economic stimulus program.The precious metal, down in seven of the last eight sessions, has been hit since the start of the year as investors shift into higher-yielding equities on signs that economic growth is picking up, especially in the United ...
CHICAGO: US corn futures dropped 1.5 percent, to their lowest since early April, on Tuesday as investors unwound bull spreads following a record planting pace last week that encouraged farmers to sell some old-crop supplies to ease cash market tightness, traders said.A surge in corn planting progress during the past week eased farmer concerns about needing to hold onto supplies held in storage bins since last fall's harvest. That relieved some pressure that supported old-crop ...
NEW YORK: Corn prices hit multi-week lows on Tuesday, which pulled wheat lower, after record US corn plantings, while oil and metals markets slipped amid worries the Federal Reserve might cut back its stimulus for the American economy.Natural gas futures neared a one-month high, mitigating some of the losses in commodities, after warmer US weather boosted demand for gas-driven air-conditioning.The Thomson Reuters-Jefferies CRB index, a global indicator for commodity prices, fell 0.3 percent, retreating from ...
MOSCOW: Russian Grain Union has raised the top end of its 2013 harvest forecast range due to the good condition of winter grains, its head said on Tuesday, indicating that crop risks due to dry weather this month were limited.The union has expanded its 2013 grain harvest forecast range to 90-100 million tonnes from a previously expected 90-95 million tonnes, Arkady Zlochevsky, the head of the lobby, told Reuters.It also raised its forecast of the ...
LONDON: Raw sugar futures on ICE hovered above a 34-month low on Tuesday, as bumper crops in producers including Brazil and Mexico kept prices under pressure, while arabica coffee and cocoa futures were steady.July raw sugar futures eased 0.01 cent or 0.1 percent to 16.80 cents per lb at 1103 GMT, matching the previous session's near three-year low."The market has been in a continued downtrend since the end of last year," said Andrey Kryuchenkov, analyst ...More Articles...
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