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The latest breaking Commodities news articles, financial market, rates and more.

 

Government in final stages of fixing rates of commodities under GST: Jaitley - Moneycontrol.com

Apr 28, 2017 08:41 PM IST | Source: Moneycontrol.com

Jaitley said that the rates would not be significantly different from the rates in the existing system.


Shreya Nandi

Moneycontrol News

India is in the final stages of fixing tariffs that various commodities will attract after the roll out of the Goods and Services Tax (GST) from July 1.

"We are now at a stage in GST that after the passage of constitution amendment laws, we have an entire set of rules and regulations that have been approved," Finance Minister Arun Jaitley said at the Annual Session, 2017 of the CII.

Jaitley added that the rates would not be significantly different from the rates in the existing system. "Profit is not a bad word. Profiteering is not a bad word. Unfair enrichment is. Therefore, the benefit of reduced tax is something that consumers are entitled to," Jaitley said.

The minister continued to say...


Read full article on News GN Commodities


Read more: Government in final stages of fixing rates of commodities under GST: Jaitley - Moneycontrol.com

Industrial Commodity Prices to Rise in 2017: World Bank - World Bank Group

Oil prices to average $55 per barrel in 2017, rise next year

WASHINGTON, April 26, 2017— The World Bank is forecasting higher prices for industrial commodities, principally energy and metals, in 2017 and next year.  

The World Bank in its April Commodity Markets Outlook is holding steady its crude oil price forecast for this year at $55 per barrel, increasing to an average of $60 per barrel in 2018. Rising oil prices, supported by production cutbacks by Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC states, will allow markets to gradually rebalance. These oil price forecasts are subject to downside risks should the rebound in the U.S. shale oil industry be greater than expected.

Prices for energy commodities, which also include natural gas and coal, are projected to jump 26 percent this year and 8 percent in 2018. In line with oil price forecasts, natural gas...


Read full article on News GN Commodities


Read more: Industrial Commodity Prices to Rise in 2017: World Bank - World Bank Group

5 commodity brokers get fresh Sebi notices - Economic Times

MUMBAI: Market regulator Securities and Exchange Board of India (Sebi) has issued show-cause notices to five leading commodity brokerages asking them why they should not be considered not 'fit and proper' to continue as commodity futures brokers, given their alleged role in the Rs 5,600-crore National Spot Exchange (NSEL) scam, two persons aware of the development told ET.

The brokers - Anand Rathi Commodities, IIFL Commodities, Motilal Oswal Commodities, Geofin Comtrade and Phillip Commodities - have been given 21 days to respond to the regulator's notice, following which a hearing will be conducted.

Confirming receipt of the notice, an IIFL Commodities spokesperson said, “We have discharged our duty with utmost sincerity to our clients, besides complying with all the relevant laws and byelaws. We will respond to the notice with all the necessary and relevant facts."

A Geofin Comtrade...


Read full article on News GN Commodities


Read more: 5 commodity brokers get fresh Sebi notices - Economic Times

NZ dollar remains below 69 US cents on weaker commodities - Scoop - Scoop.co.nz (press release)


Friday, 28 April 2017, 8:16 pm
Article: BusinessDesk

NZ dollar remains below 69 US cents on weaker commodities, trade threats

By Jonathan Underhill

April 28 (BusinessDesk) - The New Zealand dollar was little changed below 69 US cents, having fallen along with other commodity-linked currencies as raw material prices fell and the market focussed on US President Donald Trump's protectionist approach to trade.

The kiwi traded at 68.76 US cents at 5pm in Wellington, little changed over the course of the day, having fallen overnight from 69.10 cents late yesterday. The trade-weighted index fell to 74.75 from 75.05.

Commodity markets have been rattled by the Trump administration's imposition of new tariffs on Canadian softwood lumber and the US president's ambition to scrap the North American Free Trade Agreement. The CRB Index of 19 commonly traded commodities fell 0.7 percent to a...


Read full article on News GN Commodities


Read more: NZ dollar remains below 69 US cents on weaker commodities - Scoop - Scoop.co.nz (press release)

Liontrust Asia duo steer clear of commodities - FT Adviser

The resurgence of the commodities complex has failed to win over Liontrust Asia Income managers Mark Williams and Carolyn Chan, who believe too much good news has been priced in for the space. 

The problems facing commodity investors have eased in the past 18 months, as pressure on the oil price has lessened and momentum has built more generally behind cyclical names. 

According to FE Analytics, the Bloomberg Commodity index lost 17.9 per cent in sterling terms over three years. But over the past 12 months its fortunes have reversed, with the index gaining 18.8 per cent. 

The Liontrust pair noted commodity strength and global growth more broadly could benefit exporter countries in which they are invested. However, the managers, who aim to produce a prospective yield of at least 1.1 times that of local markets as well as achieving long-term capital appreciation, continue to steer...


Read full article on News GN Commodities


Read more: Liontrust Asia duo steer clear of commodities - FT Adviser

Commodities Update - EveryInvestor

Gold

Yesterday, gold traded 0.07% lower in the New York session and ended at USD1265.50 per ounce.

In the Asian session, at GMT0500, the precious metal is trading at USD1266.70 per ounce, 0.09% higher from the New York close.

The precious metal is expected to find its first support at USD1262.67 per ounce and first resistance at USD1269.87 per ounce. The second support is expected at USD1258.63 per ounce and second resistance at USD1273.03 per ounce.

Positive sentiment still exists as the StochRSI has moved up from the oversold region.

Crude Oil

Crude oil rose in the New York session yesterday, closing 1.17% higher at USD49.18 per barrel.

At GMT0500, the commodity is trading at USD49.48 per barrel, 0.61% higher from the New York close.

The commodity is expected to find its first support at USD48.62 per barrel and first resistance at USD49.93 per barrel. The second support is...


Read full article on News GN Commodities


Read more: Commodities Update - EveryInvestor

Chicago Agriculture Commodities Finished Higher - Live Trading News

Chicago Agriculture Commodities Finished Higher

$WEAT, $CORN, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished higher Thursday with Corn and Soybean futures edging higher on concerns about weather delays to Spring planting and relief that the White House will not immediately withdraw the United States from the North American Free Trade Agreement (NAFTA).

Solid export sales added support, although both commodities traded lower at times as mild and dry long-term forecasts tempered worries over reduced yields and production.

The most active Corn contract for July delivery went up 2.5 cents, or 0.68%, to settle at 3.6925 bu.

July Wheat delivery rose 4.75 cents, or 1.11% to 4.3125 bu.

July Soybean added 0.75 cents, or 0.08%, to 9.5725 bu.

“There’s a lot of rain and cold temperatures, and all of that is supportive. But as long as the deferred forecast stays...


Read full article on News GN Commodities


Read more: Chicago Agriculture Commodities Finished Higher - Live Trading News

Industrial Commodity Prices to Rise in 2017: World Bank - World Bank Group

Oil prices to average $55 per barrel in 2017, rise next year

WASHINGTON, April 26, 2017— The World Bank is forecasting higher prices for industrial commodities, principally energy and metals, in 2017 and next year.  

The World Bank in its April Commodity Markets Outlook is holding steady its crude oil price forecast for this year at $55 per barrel, increasing to an average of $60 per barrel in 2018. Rising oil prices, supported by production cutbacks by Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC states, will allow markets to gradually rebalance. These oil price forecasts are subject to downside risks should the rebound in the U.S. shale oil industry be greater than expected.

Prices for energy commodities, which also include natural gas and coal, are projected to jump 26 percent this year and 8 percent in 2018. In line with oil price forecasts, natural gas...


Read full article on News GN Commodities


Read more: Industrial Commodity Prices to Rise in 2017: World Bank - World Bank Group

Commodities Update - EveryInvestor

Gold

Yesterday, gold traded 0.48% higher in the New York session and ended at USD1270.50 per ounce.

In the Asian session, at GMT0500, the precious metal is trading at USD1267.90 per ounce, 0.2% lower from the New York close.

The precious metal is expected to find its first support at USD1261.47 per ounce and first resistance at USD1273.57 per ounce. The second support is expected at USD1255.03 per ounce and second resistance at USD1279.23 per ounce.

The Moving Average of CCI has crossed 75 from above, generating a bearish signal.

Crude Oil

Crude oil rose in the New York session yesterday, closing 0.41% higher at USD49.30 per barrel.

At GMT0500, the commodity is trading at USD49.37 per barrel, 0.14% higher from the New York close.

The commodity is expected to find its first support at USD48.81 per barrel and first resistance at USD50.07 per barrel. The second support is expected at...


Read full article on News GN Commodities


Read more: Commodities Update - EveryInvestor

Expect Sugar prices to trade sideways to lower: Angel Commodities - Moneycontrol.com

Angel Commodities' report on Sugar

Sugar Futures fell to one and half months low on Thursday due to higher availability of sugar in the domestic market as government extends curbs on holding of sugar stocks by six months for the sugar dealers and traders. As per USDA, India’s centrifugal sugar production in marketing year (MY) 2017/18 (Oct-Sept) is expected to increase by 18% to 25.8 mt.

Outlook

We expect sugar prices to trade sideways to lower on expectation of balanced demand and supply levels in the physical market. However, reports of higher sugar production in UP and announcement of duty free imports of raw sugar may keep the prices steady.

For all commodities report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com...

Read full article on News GN Commodities


Read more: Expect Sugar prices to trade sideways to lower: Angel Commodities - Moneycontrol.com

5 commodity brokers get fresh Sebi notices - Economic Times

MUMBAI: Market regulator Securities and Exchange Board of India (Sebi) has issued show-cause notices to five leading commodity brokerages asking them why they should not be considered not 'fit and proper' to continue as commodity futures brokers, given their alleged role in the Rs 5,600-crore National Spot Exchange (NSEL) scam, two persons aware of the development told ET.

The brokers - Anand Rathi Commodities, IIFL Commodities, Motilal Oswal Commodities, Geofin Comtrade and Phillip Commodities - have been given 21 days to respond to the regulator's notice, following which a hearing will be conducted.

Confirming receipt of the notice, an IIFL Commodities spokesperson said, “We have discharged our duty with utmost sincerity to our clients, besides complying with all the relevant laws and byelaws. We will respond to the notice with all the necessary and relevant facts."

A Geofin Comtrade...


Read full article on News GN Commodities


Read more: 5 commodity brokers get fresh Sebi notices - Economic Times

Liontrust Asia duo steer clear of commodities - FT Adviser

The resurgence of the commodities complex has failed to win over Liontrust Asia Income managers Mark Williams and Carolyn Chan, who believe too much good news has been priced in for the space. 

The problems facing commodity investors have eased in the past 18 months, as pressure on the oil price has lessened and momentum has built more generally behind cyclical names. 

According to FE Analytics, the Bloomberg Commodity index lost 17.9 per cent in sterling terms over three years. But over the past 12 months its fortunes have reversed, with the index gaining 18.8 per cent. 

The Liontrust pair noted commodity strength and global growth more broadly could benefit exporter countries in which they are invested. However, the managers, who aim to produce a prospective yield of at least 1.1 times that of local markets as well as achieving long-term capital appreciation, continue to steer...


Read full article on News GN Commodities


Read more: Liontrust Asia duo steer clear of commodities - FT Adviser

NZ dollar remains below 69 US cents on weaker commodities - Scoop.co.nz (press release)


Friday, 28 April 2017, 8:16 pm
Article: BusinessDesk

NZ dollar remains below 69 US cents on weaker commodities, trade threats

By Jonathan Underhill

April 28 (BusinessDesk) - The New Zealand dollar was little changed below 69 US cents, having fallen along with other commodity-linked currencies as raw material prices fell and the market focussed on US President Donald Trump's protectionist approach to trade.

The kiwi traded at 68.76 US cents at 5pm in Wellington, little changed over the course of the day, having fallen overnight from 69.10 cents late yesterday. The trade-weighted index fell to 74.75 from 75.05.

Commodity markets have been rattled by the Trump administration's imposition of new tariffs on Canadian softwood lumber and the US president's ambition to scrap the North American Free Trade Agreement. The CRB Index of 19 commonly traded commodities fell 0.7 percent to a...


Read full article on News GN Commodities


Read more: NZ dollar remains below 69 US cents on weaker commodities - Scoop.co.nz (press release)

Kiwi dips on weaker commodities - NEWS.com.au

The New Zealand dollar has fallen as weaker commodity prices sapped demand for currencies linked to primary production and ahead of local figures expected to show consumer prices have risen at their fastest annual pace in more than five years.

The kiwi dropped to US69.99 cents as at 8am on Thursday in Wellington from US70.44c on Wednesday. The trade-weighted index declined to 76.11 from 76.47.

The Thomson Reuters/CoreCommodity CRB index, a broad measure of prices for raw materials, fell 1.4 per cent as weaker prices for oil and iron ore weighed on currencies sensitive to commodity prices including the kiwi, Australian and Canadian dollars.

Investors will be watching first-quarter inflation figures which are expected to show the consumers price index rose at an annual pace of 2 per cent, the fastest annual pace since September 2011.

"Commodity price moves and risk attitudes are...


Read full article on News GN Commodities


Read more: Kiwi dips on weaker commodities - NEWS.com.au

Can 'Make in India' become the driving force for commodities? - Hellenic Shipping News Worldwide

The introduction of sweeping reforms by India’s National Democratic Alliance government since they came into power in 2014 has given a new momentum to India’s manufacturing sector.

Under its “Make in India” initiative, the government’s ambitious target to raise the share of manufacturing in GDP from the current 16% to 25% by 2025 has indeed opened up a window of opportunity to push both domestic demand and export-led growth.

A series of new projects have been announced and implemented, helping to drive demand for resources, such as oil, coal, petrochemicals and metals.

This, the government hopes, will set the stage for sustainable long-term economic growth and create jobs for the millions of young people joining the workforce every year.

There are already signs of success.

Inflow of foreign direct investment increased by 60% in the 24-month period following the launch of the...


Read full article on News GN Commodities


Read more: Can 'Make in India' become the driving force for commodities? - Hellenic Shipping News Worldwide

Africa's military budgets are being squeezed by the global slump in commodities - Quartz

Subdued prices for oil and other key commodities in recent years has started to filter through to Africa’s military budgets. Defense spending fell to $37.9 billion in 2016 from $50.2 billion in 2014. This marks the second consecutive year of decline in spending, after 11 straight years of increases, a new report from the Stockholm International Peace Research Institute found.

The Institute also recorded a drop in military spending in Central America, the Caribbean, and South America, while defense budget allotments increased in Asia, Europe, and North America.

Until recently, Africa has been home to some of the world’s fastest-growing economies. Political stability and demand for commodities attracted investors and supported the emergence of tech-savvy entrepreneurs. But the crash in recent years in prices for commodities like oil, gold, diamond, and timber has slowed this momentous...


Read full article on News GN Commodities


Read more: Africa's military budgets are being squeezed by the global slump in commodities - Quartz

Industrial Commodity Prices to Rise in 2017: World Bank - World Bank Group

Oil prices to average $55 per barrel in 2017, rise next year

WASHINGTON, April 26, 2017— The World Bank is forecasting higher prices for industrial commodities, principally energy and metals, in 2017 and next year.  

The World Bank in its April Commodity Markets Outlook is holding steady its crude oil price forecast for this year at $55 per barrel, increasing to an average of $60 per barrel in 2018. Rising oil prices, supported by production cutbacks by Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC states, will allow markets to gradually rebalance. These oil price forecasts are subject to downside risks should the rebound in the U.S. shale oil industry be greater than expected.

Prices for energy commodities, which also include natural gas and coal, are projected to jump 26 percent this year and 8 percent in 2018. In line with oil price forecasts, natural gas...


Read full article on News GN Commodities


Read more: Industrial Commodity Prices to Rise in 2017: World Bank - World Bank Group

Chicago Agriculture Commodities Finished Lower - Live Trading News

$WEAT, $CORN, $SOYB

Chicago Board of Trade (CBOT) agriculture grains futures finished lower Wednesday with Corn futures falling more than 1% on forecasts for better Midwest planting weather.

Soybean declined and Wheat turned lower as Corn tumbled.

The most active Corn contract for July delivery fell 5 cents, or 1.34%, to settle at 3.6675 bu.

July Wheat delivery fell 0.5 cent, or 0.12% to 4.265 bu.

July Soybean dropped 8.5 cents, or 0.88%, to 9.565 bu.

A Chicago senior agriculture analyst, says that this is a weather market.

“For corn planting, there is too much rain. For wheat, there is too much cold and too much rain. We might see some limited switching in a couple of weeks if these weather patterns continue,” he said

Stay tuned…

  agriculture, CBOT, commodities, Corn, exports, grains, plantings, SOYB, Soybean, WEAT, wet, Wheat

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Read full article on News GN Commodities


Read more: Chicago Agriculture Commodities Finished Lower - Live Trading News

Commodities Update - EveryInvestor

Gold

Yesterday, gold traded 0.48% higher in the New York session and ended at USD1270.50 per ounce.

In the Asian session, at GMT0500, the precious metal is trading at USD1267.90 per ounce, 0.2% lower from the New York close.

The precious metal is expected to find its first support at USD1261.47 per ounce and first resistance at USD1273.57 per ounce. The second support is expected at USD1255.03 per ounce and second resistance at USD1279.23 per ounce.

The Moving Average of CCI has crossed 75 from above, generating a bearish signal.

Crude Oil

Crude oil rose in the New York session yesterday, closing 0.41% higher at USD49.30 per barrel.

At GMT0500, the commodity is trading at USD49.37 per barrel, 0.14% higher from the New York close.

The commodity is expected to find its first support at USD48.81 per barrel and first resistance at USD50.07 per barrel. The second support is expected at...


Read full article on News GN Commodities


Read more: Commodities Update - EveryInvestor

Kiwi dips on weaker commodities - NEWS.com.au

The New Zealand dollar has fallen as weaker commodity prices sapped demand for currencies linked to primary production and ahead of local figures expected to show consumer prices have risen at their fastest annual pace in more than five years.

The kiwi dropped to US69.99 cents as at 8am on Thursday in Wellington from US70.44c on Wednesday. The trade-weighted index declined to 76.11 from 76.47.

The Thomson Reuters/CoreCommodity CRB index, a broad measure of prices for raw materials, fell 1.4 per cent as weaker prices for oil and iron ore weighed on currencies sensitive to commodity prices including the kiwi, Australian and Canadian dollars.

Investors will be watching first-quarter inflation figures which are expected to show the consumers price index rose at an annual pace of 2 per cent, the fastest annual pace since September 2011.

"Commodity price moves and risk attitudes are...


Read full article on News GN Commodities


Read more: Kiwi dips on weaker commodities - NEWS.com.au

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