Aluminium prices firm up as coal prices stabilise. China’s Yunnan asks producers to reduce power consumption by 40-42 percent. Catch the latest in commodities with Manisha Gupta live!
Crude prices have rallied by nearly 34 percent this year despite the risk of virus mutants hitting the fragile recovery in demand. A section of experts believe Iran's re-entry into the global oil market can lead to a brief period of downward revision, but doubt whether Iranian supplies would be strong enough to sustain the trend.
CNBC Commodity Editor Manisha Gupta takes us through the major happenings in the commodities market.
Highlighting importance of commodity markets in the economy, it said that India remains one of the largest producers in the world for most of the agricultural commodities and there is an urgent need to safeguard the interests of various stakeholders, including farmers.
To strengthen risk management framework of the commodities market, regulator Sebi today issued norms for early delivery as well as pay-in facility and penalty on sellers in case of delivery default.
But while prices are unlikely to recover to the peaks seen earlier this century, some major classes may have hit the bottom, with experts predicting moderate upticks in 2016.
In a move that would ensure more transparency in the functioning of commodity exchanges, they would now also be required to disclose details about the composition of their governing board and important decisions taken, among others.
Over the past decade, iron ore, copper or gold have topped the ranking of annual price increases in the commodities market. This year, however, a more prosaic raw material has replaced the metals at the top: black tea.
Tarang Bhanushali of IIFL, in an interview with CNBC-TV18, talked about what's going on in the commodity market. According to him, precious metals would remain strong, largely on the expectations that sustained liquidity flows. For crude and base metals, he would go back to the fundamentals wherein demand is waning.
The global financial crisis of 2008-09 made clear that large global banks, such as Goldman Sachs, are just too big to fail. Could a future crisis in the commodities market reveal that trading houses such as Glencore pose a similar problem?
Commodities T Gnanasekar of Commtrendz spoke to CNBC-TV18 about the trend he sees in asset classes other than equities.
Concerns about Europe's finances in the absence of a Greek debt deal pushed the euro off six-week highs and sent world stocks lower on Monday, with investors nervously awaiting the outcome of a European Union leaders summit.
Jonathan Barratt, the chief executive officer of Commodity Broking Services says the geopolitical concerns, especially, from the Middle East need to be taken stock of when looking at the price of crude oil.
In an interview with CNBC-TV18, Tom Price, Global Commodity Analyst, UBS Equities Research finds that the European debt crisis has left a significant mark on the commodities market.
Starbucks has stopped buying coffee for the moment as it waits for coffee prices to pull back from a 34-year high, John Culver, president of Starbucks Coffee International, was quoted on Friday as saying.
Spot silver rebounded as much as 2.3% and gold edged up on Thursday after losses in the previous session, supported by light buying in Asia, while a firm dollar weighed on market sentiment.
Commodities collapse signals reprieve for U.S. dollar
Jim Walker, the MD of Asianomics, in an interview on CNBC-TV18 says European tensions are only likely to escalate henceforth with no relief in sight. Along with the situation in the Middle East North Africa (MENA) region, he also expresses concern over the financial stability and the economic growth of the eurozone.
David Forrester, VP-Global Forex Strategy at Barclays Capital and Puru Saxena of Saxena Wealth Management spoke about the impact on the currency and commodities market, in the aftermath of the devastation in Japan’s twin calamities.