Commodities including crude oil, metals and cotton facing heat; know what is pulling prices down
Commodities witnessing a bear run in the markets. From crude oil, to metals to cotton, many commodities are at lows not seen in months and weeks. Zee Business’ Mrityunjay Kumar Jha brings this report
Commodities witnessing a bear run in the markets. From crude oil, to metals to cotton, many commodities are at lows not seen in months and weeks. Zee Business’ Mrityunjay Kumar Jha brings this report.
How different commodities are faring?
1) Crude Oil at 6 week lows
2) Copper trading at 16 month lows
3) Nickel trading at 4 months low
4) Silver trading at 1 week low
5) Palm oil trading at 6 months low
6) Whett trading at 4 months low
7) Soyabee, trading at 6 week low
8) Cotton price down 25 per cent in international markets
------------------------------------
Why is there a panic in commodities markets?
- Fears of global recession are growing
- Interest rates being increased across the world
- Dollar Index at highs not seen in 20 years
- growing concers over rising coronavirus cases in China
-China is one of the largest consumer of energy and metals
------------------------------------
Crude Oil in 10 days
Brent WTI MCX
14% 17% 16%
(RED DOWN)
-------------------------------------
Metals over 10 day period
Copper Nickel Zinc
6% 7% 4%
(RED DOWN)
---------------------
Agri commodities over last 10 days
Palm Oil Soyabeen Wheat
32% 8% 13%
(RED DOWN)
------------------------
25% correction in cotton price in 2 months
Cotton prices see significant corrections
In international market, prices down 25 per cent in two months
ICE Future price nearly at USD 1.05
On MCX, prices fall from highs by almost 10 per cent
On MCX, prices shot up to Rs 50,000/bales
Currently prices on MCX below Rs 45,000
1 bale = 170 kg
-----------------------
See Zee Business Live TV Streaming Below:
What is triggering fall in cotton price?
Demand for cotton at higher prices has been coming down
Recession fears in the US has also depleted the demand for cotton
In futures market also, long positions are becoming fewer now
Cotton futures in US now in new season
ICE Futures now will be for December expiry after July expiry
Pressure due to possibilities of increased supply situation in the new season
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI 444-day FD vs PNB 400-day FD: Here's what general and senior citizens will get in maturity on Rs 3.5 lakh and 7 lakh investments in special FDs?
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
SCSS vs FD: Which guaranteed return scheme will give you more quarterly income on Rs 20,00,000 investment?
Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations
04:30 PM IST