Vedanta's aluminium business expects slower growth in production and earnings. Earlier projections for EBITDA to exceed $4 billion this fiscal year have been revised. The company now anticipates EBITDA of $2.7 billion in the current fiscal. Projections for FY27 and FY28 are $3.6 billion and $4.1 billion respectively. This indicates a revised outlook for the business's financial performance.

TCE, a 63-year-old company which has designed the new Parliament building, the Mumbai-Ahmedabad bullet train and the Ayodhya temple, focuses only on design and engineering consultancy.It operates under the owner's engineer and project consultant (OEPC) model.

Vedanta Resources has raised $350 million from global banks. This financing will cover upcoming debt payments and interest costs. The deal involves lenders like First Abu Dhabi Bank, Mashreq Bank, Standard Chartered, Deutsche Bank, and JPMorgan. Twin Star Holdings, a family trust, is the guarantor. This move strengthens Vedanta's credit profile after a period of stress.

Assam Chief Minister Himanta Biswa Sarma opened Star Cement Ltd.'s new plant in Cachar. This Rs 400 crore facility will boost cement availability in southern Assam and nearby states. It is expected to create over 1,000 jobs. The investment highlights growing confidence in Assam's industrial growth. The unit will support regional development and meet rising demand.

UPL Limited is embarking on an ambitious journey to merge its global and regional crop protection divisions. This strategic initiative is designed to enhance efficiency and streamline operations within the company. Key players, including the Abu Dhabi Investment Authority and TPG, are backing this evolution.

India and Brazil are set to boost collaboration on critical minerals and artificial intelligence. President Lula da Silva will meet Prime Minister Modi to discuss a framework agreement. Both nations aim to process minerals and advocate for inclusive AI development. This partnership strengthens emerging economies' influence in shaping global technology and supply chains.

India is set to commence domestic production of permanent magnets by 2026, with commercial production of Neodymium materials and rare earth permanent magnets expected to begin this year. This initiative, supported by government funding and technology transfer, aims to boost value addition and reduce import reliance. Critical minerals are highlighted as a significant geopolitical concern, especially following China's export halt.

India plans to start domestic production of rare earth permanent magnets by the end of 2026 in partnership with private firms, aiming to reduce reliance on imports, mining minister Kishan Reddy said. The government approved a ₹73 billion ($802 million) program in November and plans four mineral-processing plants across different states.

The Supreme Court has decided not to interfere with the Karnataka government's decision to confiscate JSW Steel's performance securities valued at Rs 128 crore. This decision comes from allegations that the company failed to achieve specified iron ore production benchmarks.

In a significant legal ruling, the Supreme Court has chosen not to intervene with the Karnataka government's decision to confiscate ₹128 crore worth of performance securities from JSW Steel. This measure comes in light of the company's alleged shortfall in meeting iron ore production goals.

In a significant ruling, the Supreme Court has mandated Rashtriya Chemicals and Fertilizers to refund ₹218 crore, including interest, to Thermax Ltd. This decision reverses an arbitral award as determined by the Bombay High Court, which the apex court has chosen not to contest. Central to this legal battle was the claim for damages resulting from a malfunctioning gas turbine.

Steel Secretary Sandeep Poundrik highlighted that intelligent automation, digital twins, advanced analytics, and AI-driven systems are crucial for India's steel sector to remain globally competitive and environmentally responsible. With ambitious targets to increase crude steel capacity significantly by 2030-2031 and 2035-2036, these technologies will support intelligent capacity utilization, real-time monitoring, and decarbonisation efforts.

Demand revived as prices declined in the cement sector as the third quarter of the financial year 2026 presented a mixed performance for major players. According to a report by Nuvama, the industry saw an improvement in demand traction with volumes rising approximately 7 per cent year-on-year for 15 major companies.

India is actively exploring new export destinations for its steel in the Middle East and Asia. This strategic shift aims to mitigate the effects of the European Union's carbon tax. The nation is also focusing on securing essential raw materials through long-term agreements and asset acquisitions.

SKF India is investing Rs 653 crore to build a new manufacturing plant in Pune. This facility is expected to be ready by 2030. The company aims to strengthen its advanced manufacturing capabilities in India. This move will support critical industries like energy and railways. It will also improve response times and localization efforts.

Denta Water and Infra Solutions has secured new orders totaling Rs 377.31 crore. This brings the company's total order book to Rs 841.48 crore. The company is involved in irrigation, urban water supply, and wastewater management projects. Revenue visibility remains strong for upcoming quarters. Denta Water and Infra Solutions continues to strengthen its position in India's water infrastructure sector.

India's interim trade deal with the US offers a chance for Escorts Kubota to export tractors. The company's parent, Kubota Corporation, plans to make India a growth engine by 2030. This strategy includes leveraging India for R&D, procurement, and production. The domestic tractor market is also showing strong growth momentum. Escorts Kubota is optimistic about future export opportunities.

Jindal Stainless is collaborating with Indian Railways to produce stainless steel salt containers. This initiative marks a significant step towards using corrosion-free steel in railway logistics. A prototype container made from 304 grade stainless steel has successfully completed loading and unloading trials.

Kubota Corporation, the Japanese industrial giant, is gearing up to utilize India as a pivotal engine for growth in its 2030 vision. With plans to enhance research and development, procurement, and production capabilities domestically, the firm is set to strengthen its cost efficiency and supply chain robustness.

Transrail Lighting has secured new orders worth Rs 2,350 crore. These orders are primarily in the domestic Transmission & Distribution segment. This brings the company's total order inflows for FY26 to over Rs 7,980 crore. Transrail Lighting also holds a lowest bidder position for projects worth more than Rs 800 crore.

Adani Group's Kutch Copper smelter is set to generate substantial earnings next fiscal. Full operational capacity is anticipated within three months. The company plans to double its smelting capacity with further investment. This expansion will position Kutch Copper as a major player in India's copper refining sector. Recent agreements aim to secure crucial ore supplies for future operations.

Hindalco Industries will invest an additional $200-250 million in its subsidiary Novelis. This follows two fires at Novelis' Oswego unit. The company has already invested $750 million. This new funding will support Novelis' working capital and operational needs over the next six to eight months. Hindalco's India operations performed strongly, offsetting losses at Novelis.

Ceigall India has been awarded a new road project by NHAI. The company will construct a four-lane highway in Bihar. This project involves the Sahebganj to Bettiah section of NH-139W. The construction will take 730 days. It will be followed by a 15-year operation and maintenance period.

India's Exploration Licence regime was introduced under the MMDR Amendment Act, 2023, along with the Mineral (Auction) Amendment Rules, 2023. In the first round, 13 exploration blocks were auctioned, of which seven were awarded spanning six states. Minerals included gold, copper, REE, platinum group elements (PGEs), lead, and zinc.

Rashtriya Chemicals and Fertilizers Limited will invest Rs 865 crore to establish a new phosphoric acid plant. This facility will be located at the Thai Unit in Alibag, Maharashtra. The investment aims to boost the company's backward integration capabilities. RCF is a leading fertilizer producer in India. The project will be funded through a mix of debt and equity.

Jindal Stainless has signed an agreement with the Ministry of Steel. This is under the new Production Linked Incentive scheme for speciality steel. The company will increase its capacity for value-added products. This includes specialized alloys and forged products. The policy aims to make India self-sufficient in special steel grades. Demand for high-quality stainless steel is rising across key sectors.

Hartek has secured new orders valued at Rs 735 crore. These contracts are for its power systems business unit. The projects involve substation and transmission infrastructure across India. They range from 66 kV to 765 kV. The work will be executed in several states. This reflects Hartek's strong capabilities in delivering grid-ready substations and power infrastructure.

India is pulling out of a lithium project in Mali. Security risks and political instability in the West African nation are the main reasons. Russia's Rosatom was backing the project. India wants to protect its investments. Western nations have advised their citizens to leave Mali. The project is on hold as India fears losing its investment.

Rural housing and road construction will pick up pace by April. The rural development ministry is finalizing beneficiary lists for the Pradhan Mantri Awas Yojana-Gramin. New habitations for the Pradhan Mantri Gram Sadak Yojana are also mapped. Increased allocations for next fiscal are expected to boost construction, create jobs, and spur economic growth in rural areas.

Rolls-Royce CEO Tufan Erginbilgic met with Prime Minister Narendra Modi to discuss expanding the company's operations in India. Erginbilgic shared plans for Rolls-Royce to become a part of 'Viksit Bharat,' including growing its Global Centre of Excellence and building high-value engineering capabilities.

Earlier in the ⁠day, Ford ‌Motor flagged ​that it ​saw lower production in ⁠the fourth quarter due to the ​Novelis fires, with a partial ​recovery expected in 2026.

US President Donald Trump says to Israeli media that the US would have to do something very tough, if a deal is not reached with Iran

United States Trade Representative Jamieson Greer says India refines Russian oil and sells it to Europeans

The meeting, led by Congress MP Shashi Tharoor, covered India-US interim trade agreement details, India-EU Free Trade Agreement (FTA), and Russian oil and agricultural imports

Historical and economic models suggest that even in the worst case, oil prices could rise toward $108 per barrel, impacting global inflation and growth modestly.

Combined inflows into gold and silver ETFs hit a high of ₹33,503 crore

There is unlikely to be a similar treatment for other pulses such as yellow peas and Kabuli chana

The correction is in line with international prices, says CMD Lalit Kumar Gupta

Jharsuguda plant capacity raised by 250,000 tonnes a year; equipped with advanced casting and homogenising technology

India stands at a crossroads, necessitating a ramp-up in its mining and exploration efforts for vital minerals. In response, NITI Aayog has introduced pioneering approaches to enhance the discovery and extraction of these resources. By advocating for diverse sourcing strategies, the aim is to minimize dependence on global suppliers.

India is actively seeking new export destinations for its steel. The focus is shifting towards the Middle East and various Asian nations. Government-to-government discussions are progressing well. Several agreements with Indian companies are anticipated within the next six months. This diversification aims to expand India's steel market reach beyond traditional European destinations.

Tata Steel's CEO T.V. Narendran calls for government oversight on cheap steel imports. He anticipates higher steel prices and improved company profits in the March quarter. Domestic demand remains robust, driven by infrastructure, construction, and the auto sectors. Europe's carbon tax is seen as beneficial for Tata Steel's European operations.

Larsen and Toubro has secured a significant transport infrastructure project in Dubai, UAE. The order, valued between Rs 1,000 crore and Rs 2,500 crore, involves upgrading Latifa Bint Hamdan Street. The 36-month project will widen the road into a four-lane dual carriageway in each direction.

The January inflows alone accounted for 12.52 per cent of the country’s total gold ETFs’ assets under managemen

22, 24 carat Gold prices down across Indian cities on February 10

India is actively seeking global partnerships to secure vital mineral supplies. Discussions are underway with Brazil, Canada, France, and the Netherlands for joint exploration, extraction, processing, and recycling of critical minerals like lithium and rare earths. This strategic move aims to reduce dependence on China and support India's energy transition goals.

The facility will have an initial production capacity of 50,000 tonnes per annum of formulations, with flexibility to expand to 120,000 tonnes to meet growing demand, the agrochemical company said.

At 10.04 am on Tuesday, April Brent oil futures were at $68.91, down by 0.19 per cent, and March crude oil futures on WTI (West Texas Intermediate) were at $64.19, down by 0.26 per cent

European steel prices are expected to increase significantly in the coming years. New carbon emission regulations and tariffs are driving this structural shift. Tata Steel sees improved profitability in its Netherlands operations due to these changes. The company anticipates positive developments for the UK steel industry soon. Tata Steel's Indian operations continue to grow robustly.

Gravita India is acquiring Rashtriya Metal Industries for around ₹800 crore. This move diversifies Gravita into copper and copper alloy products. Rashtriya Metal Industries is a legacy manufacturer of copper products. The acquisition strengthens Gravita's position as an integrated recycling and manufacturing platform. This strategic step aligns with growing global demand for copper.

India is set to significantly boost its specialty steel production. The government has secured Rs 11,887 crore in investment commitments for the PLI 1.2 scheme. This initiative will add 8.7 million tonnes of specialty steel capacity by FY 2031.

Ambuja Sanghi merger: The National Company Law Tribunal has approved the merger of Sanghi Industries with Ambuja Cements. This significant development was announced by Ambuja Cements in an exchange filing. The tribunal pronounced its order on February 9, 2026, sanctioning the scheme of arrangement. April 1, 2024, is the appointed date for this merger.

It may marginally ease prices of soybean oil sourced from Argentina

Indian steel exports face ongoing challenges from the European Union's carbon tax and import quotas. The Indian government plans to support the affected steel sector. This situation follows a recent trade deal that left the EU's carbon border mechanism unchanged. Indian steel mills, heavily reliant on Europe, are exploring new markets in Africa and the Middle East.

22K & 24K gold price today, February 9, 2026 across Indian cities

The purchase ​of Venezuelan ⁠oil is the first by HPCL, with IOC having ‌previously bought Venezuelan ‌oil in 2024

At 9.58 am on Monday, April Brent oil futures were at $67.36, down by 1.01%, and March crude oil futures on WTI (West Texas Intermediate) were at $62.93, down by 0.98%

The company is targeting sales volumes of 9-9.5 million tonne in the January-March quarter

The proposal will test whether India can pursue industrial revival without repeating old mistakes

The syndicate had devised a sophisticated modus operandi to smuggle large quantities of low-cost oil and oil-based cargo sourced from conflict-ridden regions

The white precious metal drops below $100/oz in China, COMEX raises margin for precious metal again

IMFA expects annual output to grow from about 260,000 tonnes from existing facilities to around 400,000 tonnes in FY27.

Procurement ample to face any unforeseen situation, especially with El Nino likely to emerge after June

Tata International trades commodities across 50 countries, supporting multinational conglomerate parent Tata Group with trading and ‌distribution

Summit to delve into prospects for major commodities and the role of emerging technologies in paving the way for sustainable growth

22, 24 carat Gold prices down across Indian cities on February 6

1 kg Silver price as reported today, February 6, 2026 across Indian cities

Tata Chemicals will invest Rs 515 crore to build a new manufacturing plant in Tamil Nadu. This facility will produce Iodised Vacuum Salt Dried. The project aims to expand capacity and strengthen the supply chain. Construction is expected to take 36 months. The new plant will boost regional supply capabilities and improve logistics for the company's salt business.

India's copper market is on a promising upward trajectory, with consumption anticipated to climb by 10-12 percent annually over the next two years. Despite recent spikes in metal prices likely dampening short-term demand, foundational factors such as rapid urban development and the transition to renewable energy continue to fuel growth.

Hindustan Copper Limited is gearing up to dive into the critical minerals market, harnessing its mining expertise to bolster India's technological advancements and economic growth. This strategic initiative resonates with the country's ambitions for sustainable energy.

At 9.56 am on Friday, April Brent oil futures were at $67.93, up by 0.56%, and March crude oil futures on WTI were at $63.67, up by 0.60%

ArcelorMittal anticipates a 2 percent rise in global steel demand this year, excluding China. The company expects steel production and shipments to grow in all regions by 2026. European mills are set to benefit from new trade measures. ArcelorMittal's sales saw a slight dip in 2025, but net income significantly increased.

The auction will be the first in the reserve since 2019 and is part of at least five lease sales mandated under President Donald Trump’s One Big Beautiful Bill Act

The metal’s prices have dropped 15% after rising to a record high of $56,800 a tonne on January 26

The yellow metal falls below $4,850 and the white precious metals plunges below $75 an ounce amid volatile movements

Washington accounted for more than 8 per cent of India’s cumulative coal imports in FY25, which industry players, analysts and government officials indicate could easily be topped up to 10 per cent

With spot gold down 1.3% to $4,899 an ounce and silver tumbling 16% to $73.56, investors saw gold ETFs drop by up to 5% and silver ETFs plummet by a jaw-dropping 20%

Silver affected the most as its prices fall 10%, gold sashays by $200 an ounce with markets turning volatile

POSCO, POSCO DX, and POSCO Investment Sign MOU with US-based Humanoid Robot Company Persona AI The post POSCO Group to Implement Humanoid Robots for Steel Product Logistics Management at Steelworks appeared first on worldsteel.org.

Jindal Poly Films class action case: NCLT direct issuance of public notice, other minority shareholders can join law suit against Jindal Poly.

Reliance told that it has been giving written declarations to ⁠European buyers and traders that Russian crude has not been used to produce fuels exported to Europe.

1 kg Silver price as reported today, February 5, 2026 across Indian cities

Crude sunflower oil from the Black Sea region is currently being ​offered at about $1,420 a ⁠metric tonne on a cost, insurance and freight basis for March delivery to India, compared with around $1,165 for crude palm oil and $1,255 for crude soy oil

22, 24 carat Gold prices down across Indian cities on February 5

1 kg Silver price as reported today, February 4, 2026 across Indian cities

An additional margin of 2.5% in Silver Futures contracts (all variants) and 2% in Gold futures contracts (all variants) from Friday over and above the margin levied on Thursday

coal India: In a regulatory filing, CIL said it will hold 100 per cent equity in the proposed intermediate holding company in Chile. The incorporation will be subject to regulatory approvals from the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Coal.

The move comes as President Donald Trump launched Project Vault, a strategic stockpile of critical minerals with $10 billion from the U.S. Export-Import Bank and $2 billion in private funding

Russia’s comments come as the United States has been continuously asserting that India has agreed to stop importing Russian crude oil

Gold tests $5,000 an ounce again and silver tops $90 an ounce as prices rise in India too

Rain in western UP in April-May is the main cause for the reduced yield

Overall coal imports also fell in 2024-25, resulting in foreign exchange savings of over Rs 60,000 crore

Pidilite Industries anticipates a swift rebound in its US exports, which experienced a slowdown in Q3 FY'26 due to India-US tariff revisions. The company expects to maintain its double-digit underlying volume growth in Q4 and throughout FY'27, with positive implications for its B2B segment.

22K & 24K gold price today, February 4, 2026 across Indian cities

At present, Venezuelan heavy crude is trading at about $51 per barrel, according to Oil Price data cited in the SBI report

At 9.57 am on Wednesday, April Brent oil futures were at $67.84, up by 0.76%, and March crude oil futures on WTI (West Texas Intermediate) were at $63.79, up by 0.92%

According to Food Ministry’s data, the domestic sugar sales in India as per the quota allocated by it is expected to drop 3.5% to 110.5 lt between October 2025 and February 2026 from 114.5 lt in the corresponding period of 2024-25

Along with the Commerce Minister Piyush Goyal’s assertion on no compromise on sensitive sectors, businessline has reliably learnt that the redline on GM soya and maize has not been crossed

Silver rises over $100 an ounce in Shanghai futures market as all precious metals gain over 5%

Silver sparkles with an 8% rise, gold up 5% after huge fall on Friday and Monday

COMEX gold surged above $4,900 before settling around $4,860, while MCX gold rallied above ₹1,51,000, gaining nearly ₹8,000 intraday

22K & 24K gold price today, February 3, 2026 across Indian cities

The announcement of the US-India trade deal includes removing the 25% penal tariffs on India, with the latter agreeing to stop purchases of crude oil from Russia

1 kg Silver price as reported today, February 3, 2026 across Indian cities

Sources say existing cargo commitments must be honoured despite US-led trade agreement.

Higher palm oil imports by India could help reduce inventories in top producers Indonesia and Malaysia, supporting benchmark Malaysian palm oil futures, while pressuring US soyoil futures

Industry disappointed some of its requests for a cut in import duty on gold and GST rationalisation have not materialised

April Brent oil futures were at $66.02, down by 0.42%, and March crude oil futures on WTI (West Texas Intermediate) were at $61.92, down by 0.35%

The move aligns with the High-Level Committee framework to enhance domestic production, reduce imports and promote commercial exploration in India’s coal sector

The allocation of ₹1.63 lakh crore to agriculture—up 7 per cent over last year’s revised estimates—reinforces the government’s commitment to farm income resilience

The edible oil sector criticised the lack of measures to reduce import dependence, while rice exporters welcomed MSME support, technology interventions, and TReDS procurement reforms

Monazite is a reddish-brown, phosphate mineral rich in rare-earth elements and thorium, primarily sourced from heavy mineral beach sands and igneous rocks

22, 24 carat Gold prices down across Indian cities on February 2

The yellow metal ended at ₹1.48 lakh per 10 gm in the spot market, and the white metal slips to ₹2.65 lakh a kg

MCX gold futures hover in ₹1,38,000-₹1,48,000 range after marking all-time highs near ₹1,80,779 last week, while MCX silver consolidates near ₹2,50,000-₹2,60,000 after touching ₹4,20,048

Escalating tensions between the two nations in recent days had helped support the price of crude oil

Silver drops sharply to around $75 an ounce having earlier climbed as much as 3.2%

Get ready for exciting initiatives like a major boost in veterinary services and cool tech tools, including a multilingual AI platform called Vistaar to help farmers level up their game

Finance Minister says this will help increase output, yield and enhance farmers’ income, besides creating new job opportunities

Finance Minister Nirmala Sitharaman proposes support for cashew, cocoa and coconut grown in coastal areas

1 kg Silver price as reported today, February 1, 2026 across Indian cities

Gold, silver remain under pressure; traders attribute decline to global macro factor, rather than Budget announcements

The change comes as precious metals witnessed extreme volatility with gold futures plunging approximately 16%, while silver experienced a sharper correction of nearly 40%

India had been a major buyer of Iranian oil until 2019, when imports were significantly reduced following the reimposition of US sanctions on Tehran

IMD’s Director General M Mohaptra said that monthly rainfall over the country as a whole in February is most likely to be below normal (<81% of LPA)

The well at the Mevad field was drilled to a total depth of 1,650 metres

Globally, precious metals plunged after US President Donald Trump nominated Kevin Warsh as the new Fed chief; silver futures nosedived 27% and gold fell 17.5% on MCX

The daily increase is creating operational challenges and making it difficult for jewellers to quote prices

22, 24 carat Gold prices down across Indian cities on January 31

1 kg Silver price as reported today, January 31, 2026 across Indian cities

Recovery in US dollar, nomination of new Fed chief bring down precious metals complex

They have earned ₹662 crore delivering their produce over futures trading platform NCDEX

Under the agreement, which was signed at the India Energy Week 2026 in Goa, the delivery for the cargoes will commence in April this year, Trafigura said

An upward revision is essential to address structural constraints in domestic oilseed production

Gold slips 3-4% on MCX

22, 24 carat Gold prices down across Indian cities on January 30

On the Multi Commodity Exchange (MCX), silver fell nearly 6% intraday to around ₹3,75,900 per kilogram after printing record highs near ₹4,20,048

1 kg Silver price today, January 30, 2026 across Indian cities

At 9.56 am on Friday, February crude oil futures were trading at ₹5,935 on MCX, down by 1.61%, and March futures were trading at ₹5926, up by 1.58%

The surge will continue unless a durable peace is established and trade wars are resolved globally

It enables businesses across India, particularly MSMEs and small-volume buyers, to view, book and lock transparent, real-time metal prices in the rupee

Gold vaults over $5,550 an ounce as investors flee from currencies and sovereign bonds

Price signals boost maize, but pulses and crop diversity suffer

As power demand accelerates driven by renewables, electrification and AI data centres, the material intensity of clean energy is becoming the binding constraint

The Economic Survey recommends raising urea prices and directly transferring fertilizer subsidies to farmers to improve agricultural efficiency

Gold soared to $5,626 and surpassed ₹1.80 lakh in India, while silver broke the ₹4 lakh barrier, marking a 30% gain for gold and a 66% surge for silver year-to-date

‘There are also concerns about what this could mean for regional oil supplies. Any escalation may pose a risk to Persian Gulf oil flows through the Strait of Hormuz, where around 20 million barrels a day of crude oil passes’

Indian apples will attract zero duty over 5-7 years when imported by any EU country, opening a premium segment for the domestic growers

Shipments into the country up 85% as domestic output slips 3%, says Fertiliser Association of India

Higher carry forward stocks, weakening rupee influencing imports, says IPGA chairman Bimal Kothari

Gold, silver extend record rally, analysts warn of overbought risks

World crude steel production for the 70 countries reporting to the worldsteel was 139.6 million tonnes (Mt) in December 2025, a 3.7% decrease compared to December 2024. The post December 2025 crude steel production and 2025 global crude steel production totals appeared first on worldsteel.org.

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From 2014 to 2024, indirect exports of steel to the 74 countries analysed increased by 26%, from 325 Mt in 2014 to 410 Mt in 2024. Our newly released report provides country-level details and is available for purchase through our bookshop. The post worldsteel releases indirect trade in steel data 2014 – 2024 appeared first on worldsteel.org.

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World crude steel production for the 70 countries reporting to the World Steel Association (worldsteel) was 140.1 million tonnes (Mt) in November 2025, a 4.6% decrease compared to November 2024. The post November 2025 crude steel production appeared first on worldsteel.org.

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According to Geojit, Madhya Pradesh is preparing to spend 11.6 bln rupees under the price support scheme to procure kharif pulses--tur, urad, and moong--harvested in 2020-21 (Jul-Jun), a state government official said.

With hopes of another round of stimulus measures flying out of the window, the US needs more economic activity to get demand flowing.

Traders are also concerned about the flood-like situation that can damage the crop, which is harvested from October to February, in various parts of India.

According to Geojit, Rubber prices rose nearly 10% over the past three-four weeks and hit a record high of 140 rupees a kg due to pent-up demand after easing of the pandemic induced lockdowns amid a supply crunch.

U.S. West Texas Intermediate (WTI) crude futures fell 20 cents, or 0.5%, to $37.85 a barrel at 0056 GMT, after climbing 3.5% on Wednesday.

In its monthly forecast, the agency cut its oil demand growth estimate for 2021 by 490,000 bpd to 6.53 million bpd.

Gold may remain choppy but buying may emerge at lower levels amid increasing global uncertainty and also as Fed’s dovish stance may limit upside in US dollar.

Fed#39;s dovish stance may also limit any major upside in the US dollar.

According to Geojit, Global consumption of edible oils is expected to fall 30-40% in 2020 because of coronavirus lockdowns, said Dominic Xavier, Middle East and North Africa region head at Sime Darby Oils.

Spot gold was little changed at $1,929.30 per ounce by 0038 GMT, after falling to a near two-week week low of $1,906.24 on Tuesday.

The biggest global health crisis in a century continues to flare unabated with cases rising in India, Great Britain, Spain and several parts of the United States, where the infection rate has not come under control for months.

After weeks of consolidation, crude oil has come under pressure amid signs of correction in US equity market and gains in US dollar index.

According to Motilal Oswal, Oil prices hit a rough patch last week, falling back in line with broader financial markets. Prices did try to inch higher, but experienced selling pressure at highs.

According to Motilal Oswal, Gold fell to the lowest level in a month primarily as the dollar rose against its major crosses and better-than-expected economic number from the US.

According to Motilal Oswal, Base metals traded choppy last week, with prices hitting multi month highs at the start of the week and followed by some profit taking on back of volatility in the dollar and mixed data signals from China and US.