NEW DELHI, July 2: There was no change in the pattern of trading at the local steel market today as prices of saria and other steels continued to move in a narrow range in restricted activity and closed at previous levels.
Traders said negligible enquiries from construction and engineering units mainly kept steel prices unchanged.
Following are today’s quotations (in Rs per tonne):
Saria Kamdhenu: 8-mm 50,400, 10-mm 49,900, 12-mm 47,500, 16-25 mm 48,200.
Saria Jai Bharat (TMT): 8-mm 44,700, 10 mm 43,200, 12-mm 41,700, 16-25 mm 45,100.
Amba shakti (TMT): 8-mm 45,700, 10-mm 43,400, 12-mm 42,400, 16-25 mm 42,500.
MS Angle: (50×5) (50×6) 42,000, (40×5) (40×6) 42,800.
Angle Capital (ISI) (40X5) (40×6) 43,800, (35X5)(65X6) 36,900. Girder 125X65 41,000. (PTI)
Steel prices remain flat in thin trade
Copper futures fall on weak global cues
NEW DELHI, July 2: Copper futures fell 0.25 per cent to Rs 432 per kg today as speculators trimmed their positions amidst a weak trend in global markets.
Besides, rising stockpiles of the metal, monitored by the London Metal Exchange (LME) in Asia, also put pressure on prices.
At the Multi Commodity Exchange, copper for delivery in far-month November declined by Rs 1.10, or 0.25 per cent, to Rs 432 per kg in a business turnover of five lots.
The metal for delivery in August fell by Re 1, or 0.22 per cent, to Rs 426.70 per kg in a business volume of 409 lots.
Analysts said a weak trend in copper overseas where it retreated from a 16-week high as some investors judged the recent rally was overdone, mainly weighed on metal prices at futures trade here.
Globally, copper for delivery in three-months traded 0.40 per cent lower at USD 6,995 per tonne at the LME.
Meanwhile, stockpiles of copper monitored by the LME in Asia rose 5.2 per cent yesterday, the most since September last year, to 13,175 tonnes, with reserves in South Korea up 23 per cent, bourse data showed. (PTI)
Nickel futures down on overseas trends, subdued demand
NEW DELHI, July 2: Nickel prices dropped 0.53 per cent to Rs 1,142.50 per kg in futures trade today in tandem with a weakening trend at the London Metal Exchange and sluggish demand from alloy-makers in the domestic spot market.
At the Multi Commodity Exchange, nickel for delivery in July dropped by Rs 6.10, or 0.53 per cent, to Rs 1,142.50 per kg in a business turnover of 979 lots.
The metal for delivery in August also fell by Rs 5.90, or 0.51 per cent, to Rs 1,148 per kg in a turnover of 15 lots.
Market analysts said the fall in nickel prices at futures trade was mostly in tune with a weakening trend in the base metals pack at the London Metal Exchange and subdued demand from alloy-makers at the domestic spot markets. (PTI)
Zinc futures down 0.23 pc on global trend
NEW DELHI, July 2: Zinc futures declined 0.23 per cent to Rs 131.55 per kg today as participants reduced positions on weak cues from the global markets amid subdued demand in domestic spot markets.
At the Multi Commodity Exchange, zinc for delivery in August traded lower by 30 paise, or 0.23 per cent, to Rs 131.55 per kg, with a business turnover of six lots.
The metal for delivery in July fell by 25 paise, or 0.19 per cent, to trade at Rs 130.80 per kg in a turnover of 238 lots.
Marketmen said the fall in zinc prices at futures trade was mostly in line with a weak trend in the entire base metals pack at the London Metal Exchange. (PTI)
Crude oil futures rise on overseas cues
NEW DELHI, July 2: Crude oil futures rose by 0.62 per cent to Rs 6,340 per barrel today as speculators created fresh positions amid a mixed trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in July traded higher by Rs 39, or 0.62 per cent, to Rs 6,340 per barrel, with a business turnover of 2,603 lots.
The oil for delivery in August also moved up by Rs 37, or 0.59 per cent, to Rs 6,337 per barrel, with a business volume of 145 lots.
Analysts attributed the rise in crude oil futures to a mixed trend in Asia as dealers await the release of a US stockpiles report for clues about demand in the world’s top crude consumer.
Meanwhile, West Texas Intermediate crude for August delivery was up one cent to USD 105.35 a barrel, while Brent North Sea crude for August eased 15 cents to USD 112.14 in mid-morning trade on the New York Mercantile Exchange. (PTI)
Renault hikes prices of three models
NEW DELHI, July 2: French auto major Renault has hiked the prices of its three vehicles in India, including compact sports utility vehicle Duster, by one per cent to partially offset rising input costs.
The company, which is present in India through a wholly-owned subsidiary, has increased the prices of Duster, mid-segment sedan Scala and hatchback Pulse, across the country from yesterday, Renault India said in a statement.
“The hike is due to swelling inputs cost, which has driven up the cost of components. The prices of Scala, Pulse and Duster will go up by one per cent with this increase,” it added.
The prices of the company’s other two models — Koleos and Fluence — remain unchanged. (PTI)
Bajaj Auto sales rise 3 per cent in June
NEW DELHI, July 2: Bajaj Auto today reported three per cent increase in motorcycle sales at 2,62,202 units in June 2014.
The company had sold 2,54,544 units in the corresponding month of previous year, Bajaj Auto Ltd (BAL) said in a statement.
BAL said exports were up 12 per cent during the month at 1,35,074 units as compared to 1,20,399 units in June 2013.
In the commercial vehicles category, its sales stood at 43,263 units, up 5 per cent, against 41,205 units in the same month of the previous year.
The total vehicle sales of the company during last month stood at 3,05,465 units, up 3 per cent, against 2,95,749 units in the same month a year ago, the statement added. (PTI)
Agri Min inaugurates sewage treatment plant at IARI campus
NEW DELHI, July 2: An eco-friendly sewage water treatment plant was inaugurated today by Agriculture Minister Radha Mohan Singh at the IARI campus here with an aim to address water shortage at the government farm research fields.
The water treatment plant, an innovative initiative of government agri-research body Indian Agricultural Research Institute (IARI), has been set up in four acres with an investment of Rs 1.2 crore.
“The plant will treat sewage water of a residential colony of IARI without using any chemicals. It has a capacity to process 2.2 million litres per day. The treated water will be used to irrigate farm fields in the campus,” said Ravinder Kaur, Project Director at Water Technology Centre of IARI.
The IARI campus is spread over 500 hectare. It has 290 hectare of agri-land for research purpose. Of this, 200 hectare is irrigated, while the rest of the farm fields face water deficit of 520 million litres per year, she said.
In this backdrop, the processed water from this plant can be used to irrigate 132 hectares in the campus, while IARI can save about Rs 18 lakh annual expenditure on fetching water supply for non-irrigated farm fields, she added.
Ravinder Kaur also mentioned that the running cost of the new plant will be lower at Rs 20,000 per month, as against Rs 2 lakh for an electrical water treatment plant.
Delhi releases about 3,663 million litres of sewage water every day and there is an urgent need to replicate this model in other parts of the city, she said.
Stating that IARI is planning to set up such plants in its campuses outside Delhi, she said that many research organisations and NGOs have evinced interest to replicate this model in different parts of the country. (PTI)
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Crude palm oil futures edge higher on spot demand
NEW DELHI, July 2: Crude palm oil prices went up by 0.17 per cent to Rs 522 per 10 kg in futures trade today as speculators enlarged positions on pick-up in demand in the spot market.
Tight stocks position in the physical market following restricted arrivals from producing regions also supported the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in August traded higher by 90 paise, or 0.17 per cent, to Rs 522 per 10 kg in a business turnover of 6 lots.
Similarly, the oil for delivery in July edged up by 60 paise, or 0.11 per cent, to Rs 524.50 per 10 kg in 20 lots.
Analysts said the rise in crude palm oil prices in futures trade was mainly due to pick-up in demand in the spot market against tight supplies from producing regions. (PTI)
KABUL, July 2: A Taliban suicide bomber in Kabul killed eight military officers today in an attack on an air force bus, Afghan officials said, in the latest strike against the national security forces as US troops withdraw.
The Afghan capital has been relatively peaceful since the presidential election on June 14, though there have been street demonstrations as politicians are locked in a dispute over vote fraud.
“As a result of a suicide attack this morning on an ANA (Afghan National Army) air force bus in (west) Kabul, eight army officers were martyred and 13 wounded,” defence ministry spokesman General Zahir Azimi said in a statement.
“The wounded personnel have been taken to hospital.”
Sediq Sediqqi, spokesman for the interior ministry, told AFP that five civilians were also wounded in the attack that targeted the bus as it took military staff to work.
The Taliban used a recognised Twitter account to claim responsibility for the blast, adding that the suicide attacker approached the vehicle on foot before detonating his explosives-packed vest.
Taliban spokesman Zabiullah Mujahid said that at least 25 people had been killed on the bus, though the insurgents regularly exaggerate death tolls after attacks.
Election day saw a sharp rise in nationwide violence, but there has not been a major attack in Kabul since June 7, when 12 people were killed in a suicide strike against presidential candidate Abdullah Abdullah, who escaped unharmed.
Abdullah has said he will reject the result of the on-going election vote count, alleging massive fraud against him in the race against his rival Ashraf Ghani.
NATO’s 50,000-strong combat force will depart Afghanistan by December, though about 10,000 US troops may stay into next year if the new president signs a security deal with Washington.
Recent weeks have seen fierce fighting in the southern province of Helmand, with the Afghan army and police counter-attacking after a major offensive by 800 Taliban fighters focused on the strategic district of Sangin.
Sangin, a centre of Afghanistan’s lucrative opium trade, has been the scene of bloody battles for years between the Taliban and US-led NATO forces, who only pulled out of the area in May.
With the NATO combat mission winding down, the coming months are expected to be a test of the NATO-trained Afghan government forces now responsible for quelling the insurgency. (AGENCIES)