NEW DELHI, Jan 13: Buoyed by a firming trend in global markets, copper futures prices rose by 0.22 per cent to Rs 458.45 per kg today as speculators enlarged positions.
At the Multi Commodity Exchange, copper for delivery in February up by Re one, or 0.22 per cent, to Rs 458.45 per kg, with a business turnover of 366 lots.
Similarly, the metal for delivery in far-month April traded higher by 90 paise, or 0.19 per cent, to Rs 462.45 per kg, with a business turnover of six lots.
Marketmen said a firming trend overseas as China’s imports rose the most in five months in December, indicating that domestic demand will support economic growth in the world’s biggest metals user, influenced copper prices at futures trade here.
Besides, pick up in demand at the domestic market supported the upside, traders said.
Meanwhile, copper for the metal for delivery in three months climbed 0.5 per cent to USD 7,340 per tonne at the London Metal Exchange, while at Shanghai, the metal for delivery in March advanced 1.1 per cent to 51,900 yuan (USD 8,584) per tonne. (AGENCIES)
Copper futures up on strong global cues, spot demand
Lead futures up on strong spot demand, overseas cues
NEW DELHI, Jan 13: Lead futures were up by 0.46 at Rs 130.70 per kg on rising spot demand and positive cues from global markets.
At the Multi Commodity Exchange, lead for delivery in January traded 60 paise, or 0.46 per cent higher at Rs 130.70 per kg, with a turnover of 220 lots.
The metal for delivery in February also rose by 55 paise, or 0.42 per cent to trade at Rs 131.80 per kg, in a business turnover of four lots.
Marketmen said besides strong domestic demand from battery-makers, a firm trend in copper and other base metals at the London Metal Exchange, influenced lead prices at futures trade here. (AGENCIES)
Aluminium futures up on spot demand
NEW DELHI, Jan 13: Aluminium futures prices rose 0.33 per cent to Rs 107.30 per kg today as speculators enlarged positions, supported by a rising demand at the spot markets on strong demand amid a firming trend overseas.
At the Multi Commodity Exchange, aluminium for delivery in January up by 35 paise, or 0.33 per cent, to Rs 107.30 per kg, with a business turnover of 120 lots.
Similarly, the metal for delivery in February traded 25 paise, or 0.23 per cent, higher at Rs 108.90 per kg, with a business turnover of three lots.
Marketmen said apart from rising demand at the spot markets, a firming trend in base metals in the global markets, influenced aluminium futures here. (AGENCIES)
Mentha oil futures gain 0.34 pc on rising demand
NEW DELHI, Jan 13: Mentha oil prices rose by 0.34 per cent to Rs 845 per kg in futures trading today as speculators created fresh positions, driven by rising demand from consuming industries in spot markets.
Further, tight stocks position in the physical market following less arrivals from producing region also supported the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in February rose by Rs 2.90, or 0.34 per cent, to Rs 845 per kg in business turnover of 10 lots.
Similarly, the oil for January gained Rs 1.40, or 0.17 per cent, to Rs 833.40 per kg in 56 lots.
Analysts said speculators created fresh positions driven by rising demand from consuming industries in the spot market against less arrivals from Chandausi in Uttar Pradesh that led to rise in mentha oil prices at futures trade. (AGENCIES)
Cardamom up in futures trade on spot demand
NEW DELHI, Jan 13: Amid pick-up in domestic demand and restricted arrivals from producing belt, cardamom prices moved up by 0.55 per cent to Rs 727 per kg in futures trade today.
At the Multi Commodity Exchange, cardamom for delivery in January rose by Rs 4, or 0.55 per cent to Rs 727 per kg in business turnover of 7 lots.
Likewise, the spice for delivery in February edged up by 20 paise, or 0.03 per cent to Rs 713 per kg in 39 lots.
Market analysts said besides pick up in demand in the spot market, restricted arrivals from producing regions mainly influenced cardamom prices at futures trade. (PTI)
Crude palm oil futures down 0.48% on sluggish demand
NEW DELHI, Jan 13: Crude palm oil prices moved down by 0.48 per cent to Rs 540 per 10 kg in futures market today as speculators reduced holdings amid sluggish demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in February moved down by Rs 2.60, or 0.48 per cent to Rs 540 per 10 kg in business turnover of 40 lots.
Similarly, the oil for delivery in January traded lower by Rs 2.40, or 0.45 per cent to Rs 533.80 per 10 kg in 67 lots.
Analysts said the fall in crude palm oil at futures trade was offloading of positions by speculators due to sluggish demand in the spot market against adequate stocks position. (AGENCIES)
Potato futures rise 0.84% as demand picks up
NEW DELHI, Jan 13: Potato prices rose 0.84 per cent to Rs 933.60 per quintal in futures trade today as speculators created positions after pick up in demand in the spot market against restricted arrivals from producing belts.
At the Multi Commodity Exchange, potato for delivery in far-month April rose by Rs 7.80, or 0.84 per cent to Rs 933.60 per quintal in business turnover of 33 lots.
Likewise, the potato for delivery in March gained Rs 6.20, or 0.66 per cent to Rs 951 per quintal in 223 lots.
Analysts said speculators created fresh positions driven by rising demand in the spot market against restricted arrivals from producing regions mainly helped potato prices to trade higher at futures trade. (PTI)
Moong dal and maida moved down
CHENNAI, Jan 13: The prices of moong dal and maida moved down and rest all other commodities remained unchanged in the wholesale food grain market here today.
Moong dal went down by Rs.100 per quintal to Rs.8,600 from its previous week closing rate of Rs.8,700, while maida (90 kg) went down by Rs.100 to Rs.2,500 from its previous closing rate of Rs.2,600
Following are the wholesale rates of various agri- commodities today (in rupees per quintal, except where stated otherwise): Thoor Dal Rs 7,000 Urad Dal Rs 6,900 Moong Dal Rs 8,600 Gram Dal Rs 3,900 Sugar Rs 2,900 Wheat Rs 2,600 Maida (90 kg) Rs 2,500 and Sooji (90 kg) Rs 2,600. (AGENCIES)
Nickel futures up 1.50% on global cues, rising demand
NEW DELHI, Jan 13: Nickel prices moved up by 1.50 per cent to Rs 864.20 per kg in futures market today as speculators enlarged their positions amid a firming trend overseas after Indonesia started a ban on mineral ore exports.
Besides, rising demand from alloy-makers also supported the upside.
At the Multi Commodity Exchange, nickel for delivery in January gained Rs 12.80, or 1.50 per cent, to Rs 864.20 per kg in business turnover of 3,988 lots.
Similarly, the metal for delivery in February rose by Rs 12.20, or 1.42 per cent, to Rs 871.90 per kg in 172 lots.
Market analysts attributed notable rise in nickel prices at futures trade to a firming trend overseas where it climbed to hit two-week high by surging 2.4 per cent to USD 14,190 per tonne at the London Metal Exchange after Indonesia started a ban on mineral ore exports and rising demand from alloy-makers. (AGENCIES)
China warns “firm response” if Japan attacks its ships
BEIJING, Jan 13: Tension between China and Japan over the disputed islands in the East China Sea escalated as Beijing today warned of “firm response” if Tokyo resorted to any provocative action against Chinese ships patrolling there.
“We urge Japan not to look down on Chinese Government determination and resolve in defending China’s territorial sovereignty,” Chinese Foreign Ministry spokesperson Hua Chunying told a media briefing.
Hua was responding to questions on Japanese Defence Ministry’s reported remarks to use force against Chinese patrolling ships.
“If Japan takes further provocative action on the islands issue China will make firm response and Japanese side should be responsible for all the consequences arising there from,” Hua said.
Official media here quoted Japanese Defence Minister Itsunori Onodera as telling the media yesterday that “We can never overlook repeated incursions into territorial waters.”
China and Japan are at loggerheads over the islands called Senkakus by Japan and Diaoyus by China, located in the East China Sea.
The area, which till 2012 was controlled by Japan is believed to be rich with minerals and oil. China accuses of Japan violating an earlier understanding not to nationalise the islands overlooking Beijing’s claims.
China claims that islands as its inherent territory.
Tensions escalated between the two countries after Senzho Abe took over as Prime Minister last year and made efforts to modernise the Self Defence Force, changing its pacifist nature adopted since the Japanese defeat in Second World War.
“How Japan stole the Diaoyu islands from China is very clear,” Hua said adding that Japan’s erroneous position and action on the islands issue is an attempt to deny the outcome of the second world war and challenge the post war world order.
“Japan’s attempts no way change the fact that Diaoyu islands belongs to China,” she said.
“The more some Japanese people deny and evade history more difficult it will be for them to get rid of the judgement of the history and the heavier historical burden on their shoulders,” she said.
Hua also attacked Japan for criticising its new fishing law in Hainan province, imposing restrictions on fishing by nationals other than Chinese in the South China Sea.
“Relevant people before making remarks should do basic research. At least they should read Chinese laws and regulations,” Hua said.
“We hope people will see through the nature of Japan’s purposes and stay on high alert,” she said.
China claims all most all of South China Sea as its own which is strongly contested by Philippines, Vietnam, Malaysia and Brunei. (AGENCIES)