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Govt releasing 1L tonnes of onion buffer stock

"The government has already taken cognisance of the issue of rising prices of onions and its one lakh tonnes of buffer stock is being ...
The Economic Times
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| 29 October, 2020, 02:17 AM IST | E-Paper
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    SEARCHED FOR:MULTI COMMODITY EXCHANGE

    Aluminium futures ease on low demand

    Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.

    • Silver was trading flat at USD 24.57 per ounce in New York.

      Marketmen said widening of positions by participants following pick up in demand from consuming industries kept zinc prices higher in futures trade.

      Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices here.

      Globally, silver traded 1.64 per cent lower at USD 24.27 per ounce in New York.

      Analysts said offloading of positions by participants owing to weak demand from consuming industries in the physical market weighed on aluminium prices in futures trade.

      Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices here.

      Marketmen said widening of positions by participants following pick up in demand from consuming industries kept zinc prices higher in futures trade.

      Analysts attributed the rise in copper prices to raising of bets by participants, driven by a pick-up in spot demand.

      Analysts said fresh positions created by traders after some demand from consumer industries supported aluminium prices.

      Globally, West Texas Intermediate crude oil was trading 2.98 per cent lower at USD 38.39 per barrel, while Brent crude declined 2.43 per cent to USD 40.20 per barrel in New York.

      Gold was trading 0.20 per cent down at USD 1,908.10 per ounce in New York.

      Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices here.

      ​​Analysts said subdued demand in spot market mainly led to the fall in nickel futures prices.

      On the Multi Commodity Exchange, silver contracts for December delivery tumbled Rs 510, or 0.80 per cent, to Rs 63,119 per kg in a business turnover of 16,094 lots.

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