Key findings from the Markit report: Stronger rise in output amid renewed upturn in sales Input cost inflation eases to 19-month low Business confidence weakens amid pandemic and supply chain worries The commentary in the report is long and detailed, in summary though: Supply was strong and demand rebounded… easing of supply constraints, output expanded
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New Delhi: Markets regulator Sebi has notified rules for vault managers that allow bourses to set up a gold exchange in the country. This comes after the board of Sebi cleared a proposal in September for setting up a gold exchange, wherein the yellow metal will be traded in the form of electronic gold receipts
Prelim was 57.8 Prior was 58.3 Siân Jones, Senior Economist at IHS Markit said: “December saw another subdued increase in US manufacturing output as material shortages and supplier delays dragged on. Although some reprieve was seen as supply chains deteriorated to the smallest extent since May, the impact of substantially longer lead times for inputs
New Delhi: Capital markets regulator Sebi on Monday tweaked the “exercise mechanism” of option contracts on commodity futures. The decision has been taken based on feedback received from stock exchanges and the recommendations of Commodity Derivatives Advisory Committee of Sebi. In a circular, Sebi said the prescribed mechanism will be adopted by exchanges for exercise
The report (link here) says an administrative penalty decision in Danzhou City, Hainan Province has been circulating on the Internet. decision stated that a total of 39 residential buildings on Haihua Island under the Evergrande Group were determined to be illegal and required to be demolished planning permit obtained illegally has been revoked The date
SINGAPORE: Commodity prices from energy and metals to agricultural products rebounded sharply in 2021, with power fuels leading the rally, driven by tight supplies and a strong economic recovery as COVID-19 vaccinations staved off widespread lockdowns. Global demand for commodities is expected to remain robust in 2022 and underpin prices as the world economy continues
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. The 23-nation alliance led by Saudi Arabia and Russia is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores production halted during
In some relief for consumers on New Year, National Oil Marketing companies have slashed the prices of 19 kg commercial LPG cylinder cost by Rs 102.50 effective from January 1, 2022. The 19 kg commercial cylinder will cost Rs 1998.50 in Delhi from today, sources told ANI. It will provide some relief to restaurants, eateries
Risk-on sentiment is somewhat taking a breather as S&P closed slightly lower after making new high. But Yen remains overwhelmingly the worst performing one for the week, followed by Kiwi and then Euro. On the other hand, Sterling is currently the strongest one together with Swiss Franc, thanks additional to Euro’s weakness. Aussie is firm
Commodities surged the most in over a decade this year as a rebound in demand from pandemic lockdowns was met with constrained supplies, fueling inflation around the world and forcing governments to act. But 2022 may tell a different story. The Bloomberg Commodity Spot Index, which tracks 23 energy, metal and crop futures, is ending
The Canadian dollar is ripping higher today and is by-far the best performing G10 currency. The move has knocked USD/CAD 110 pips lower to 1.2633. I strongly suspect this is a flow-driven move in a thin market — someone needed Canadian dollars ASAP. That’s especially evident with oil down 1.2% today and global equities softer.
KUALA LUMPUR: Malaysian palm oil futures were set for a third straight annual gain on Friday, with tight production in the first half of 2022 expected to keep prices firm next year. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange gained 5 ringgit, or 0.11%, to 4,688 ringgit ($1,123.68)
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Gold prices are set for a negative year in 2021. The metal’s prices in India have declined by more than 4% till now on improved investment sentiments for riskier assets. Gold gave tremendous returns in 2019 and 2020, at 13% and 26%, respectively, on the trade war and pandemic rally. Investors have varied opinions on
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -1891 mmb to 1184.59 mmb in the week ended December 24. Crude oil inventory dropped -3.58 mmb to 420 mmb, compared with consensus of a +3.09 mmb increase. Inventory decreased in 3 out of
As part of the plan China will also optimise the annual quota mechanism for the production of rare earth, tungsten and other minerals. Info comes via the South China Morning Post, link here for more (may be gated). The piece opens with: China will encourage domestic exploration of iron ore and use more scrap metals
NEW DELHI: After rallying 30 per cent in 2020, the glitter of gold did not last in 2021. This was largely because of a strong US dollar, which historically has an inverse relationship with the bullion, and a fading safe-haven appeal, as the outlook for the global economy improved though the inflationary phase wasn’t as