Tag: China

Copper futures zoom 1.15% as China returns

Copper futures zoom 1.15% as China returns

05/04/2017 15:11

Copper futures rose over 1 per cent during afternoon trade in the domestic market on Wednesday as investors and speculators extended their positions in the industrial metal as China returned from a 2-day break to buy metals following brighter global manufacturing reports.

Further, traders eyeing for signs of a pick up in physical activity in China in Q1 and all its credit restraints of the last couple of weeks recede.

At the MCX, copper futures for April 2017 contract is trading at Rs 381 per kg, up by 1.15 per cent, after opening at Rs 378, against a previous close of Rs 376.65. It touched the intra-day high of Rs 382.25 (at 14:55 hours).

Copper futures up on China growth hopes, strong US data

Copper futures up on China growth hopes, strong US data

19/01/2017 15:56

Copper futures rose during evening trade in the domestic market on Thursday as investors and speculators extended their positions in the industrial metal on expectations of strong demand in top consumer China along with positive US economic signals.

According to Reuters poll, during the fourth quarter, Chinese economy is expected to grew by a steady 6.7 per cent, the same as in previous three quarters, helped by government spending and record bank lending.

Moreover, US data showed that December consumer prices rose the most y-o-y in 2-1/2 years as households paid more for gasoline and rent, signalling that inflationary pressures could be building, supported copper prices at futures trade.

At the MCX, copper futures for February 2017 contract is trading at Rs 394.50 per kg, up by 0.14 per cent, after opening at Rs 395.40, against a previous close of Rs 393.95. It touched the intra-day high of Rs 396.90 (at 15:44 hours).

Indian e-commerce market could reach $28 bn by FY2020: Report

09/09/2016 16:28

Indian e-tailing market could reach USD 28 billion by 2019-20, registering a compounded annual growth rate of 45 per cent over the next four years, says a report.

According to domestic brokerage firm Kotak Institutional equities, this growth will largely be driven by an increase in number of buyers and annual average online spend. Other factors like steady increase in household incomes and shift in consumption towards discretionary spends could also boost India’s retail demand.

“We estimate that the Indian e-tail market size could reach $28 billion by FY2020, led by an increase in number of buyers to 110 million (assuming one person per urban household to shop online), and stable annual spends of around $260 per consumer,” Kotak Institutional Equitiessaid in a research note.

According to the report, though the growth of e-tail market in India is often compared to that of China, given the broad similarities in population and mobile internet penetration, in the near-term in India may not mirror China completely due to various economic and other differences between the two countries.

The report noted that the e-commerce sector is expected to see steady growth and is likely to register a 45 per cent annual growth over financial year 2017-2020. While China witnessed a CAGR of 116 per cent during 2009-15.

India’s present internet user base of around 330 million was similar to that of China in 2009, when B2C e-commerce took off. However, the online buyer base in India has remained relatively stagnant over the past 2-3 years, and online buyer penetration at 16 per cent is already lower than that of China in 2009. Though mobiles have led internet penetration in both countries, it is essential to differentiate between the quality of users based on: the quality of handsets and data speeds.

Of the total 330 million internet users in India, only around 142 million have a broadband connection. This is in sharp contrast to China, which has around 86 per cent of its internet users on broadband (defined as 3G/4G networks), the report said, adding that the scenario in India may certainly change as data prices reduce and new broadband services are launched.

As per technology research firm Gartner, Indian smartphone shipments will remain skewed in favour of feature phones, implying that India may well be 5-6 years behind of China in smartphone quality which will eventually determine easier access to online shopping.

Another factor that may impact the Indian e-tail story is the low female participation in the labour force, the report added.

India records $53 bn trade gap with China in FY 2015-16

India records $53 bn trade gap with China in FY 2015-16

02/08/2016 14:56

India’s trade shortfall with its neighbour China expanded to USD 52.68 billion in FY 2015-16 attributed to higher demand for Chinese goods by Asia’s third biggest economy.

In FY 2014-15, India had recorded a trade deficit of USD 48.48 billion with China, the world’s second biggest economy, media reports showed.

“Increasing trade deficit with China can be attributed to the relative demand for imports in India and China for each other’s goods,” Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha on Monday, the PTI reported.

The Commerce and Industry Minister said that the Modi government is stepping up efforts to bolster overall exports by diversification of the trade basket, with strong focus on manufactured goods, services, resolution of issues related to market access and other non-tariff barriers.

India’s major imports from China include telecom instruments, computer hardware and peripherals, fertiliser, electronic component, project goods, chemicals and drug intermediaries, while China purchases ore, slag or ash, iron and steel, tin, raw hides, leather, plastics and cotton from India.

Bilateral trade between the two Asian giants fell to USD 70.73 billion in the fiscal year which ended on March 31, 2016, down from USD 72.34 billion in FY 2014-15.

Copper surges as dollar weakens

Copper surges as dollar weakens

14/06/2016 09:06

Copper futures closed higher in the international market on Monday boosted by the dollar’s softer tone due to expectations the U.S. Fed will keep rates on hold this week, though weak investment data from top consumer China was expected to limit gains.

News that the U.S. economy created the fewest number of jobs in May for any month since September 2010 has led the market to think the U.S. central bank will not raise interest rates this week, which has weighed on the dollar.

When the U.S. currency falls it makes dollar-denominated commodities such as copper cheaper for non-U.S. firms.

Copper rises on better China trade data

Copper rises on better China trade data

09/06/2016 09:11

Copper futures closed higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal after a stabilization in China’s exports and imports signaled an improved demand outlook in the economy of the world’s biggest metals consuming nation. China’s exports fell by 4.1per cent in dollar terms, year on year, in May 2016, against an estimated drop by analysts of 6.8 per cent, while imports declined by only 0.4 per cent, the smallest drop since late 2014, signaling an easing slowdown in the world’s second biggest economy.

At the MCX, Copper futures for June 2016 contract closed at Rs 304.20 per 1 kg, up by 0.28 per cent, after opening at Rs. 304.75, against the previous closing price of Rs. 303.35. It touched the intra-day high of Rs. 307.

Maize ends higher by 0.09% as demand picks up

Maize ends higher by 0.09% as demand picks up

03/06/2016 09:46

Maize prices closed higher by 0.88 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At the NCDEX, maize futures for June 2016 contract closed at Rs. 1,375 per quintal, up by 0.88 per cent, after opening at Rs. 1,374 against the previous closing price of Rs. 1,363. It touched the intra-day high of Rs. 1,376.

USA, China and Brazil are the top three maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan, EU, Malaysia, Taiwan, Indonesia etc.

India in 6th place among top 10 global manufacturers

India in 6th place among top 10 global manufacturers

04/04/2016 00:54

According to a report by United Nations Industrial Development Organization (UNIDO), India has occupied sixth place in a ranking of the world’s top ten manufacturing economics which is topped by Asian powerhouse China.

Previously, India was ranked as the ninth largest manufacturer in the world.

Data from UNIDO’s Yearbook shows that the Manufacturing Value Added (MVA) in India climbed by 7.6 per cent in 2015, compared to the previous year.

“India is now the sixth largest manufacturer in the world”, the UNIDO report said.

The quarterly index of industrial production (IIP) for Asia’s third biggest economy showed that manufacturing output climbed by 1 per cent in the fourth quarter of 2015 compared to the same period a year ago.

Meanwhile, global manufacturing growth slowed to 2.8 per cent in 2015 reflective of a weakening world economy.

“This slowdown could be due to reduced manufacturing growth rates recorded by major developing and emerging economies”, the report added.

After China, which is the world’s biggest manufacturer, the US, Japan, Germany and Korea are ranked second, third, fourth and fifth on the list of the largest global manufacturing countries, with Indonesia in tenth place.

In a bid to bolster India’s manufacturing prowess, the NDA government in 2014 unveiled its flagship ‘Make in India’ program to help make India a global manufacturing and investment hub by easing rules of doing business in the country including accelerating key structural reforms.

Indian firms to showcase ‘Make in India’ investment opportunities in China

Indian firms to showcase ‘Make in India’ investment opportunities in China

28/03/2016 01:36

Over 20 Indian firms are taking part in the ‘India-China Business and Investment Forum’ being held in China aimed at introducing latest investment opportunities under ‘Make in India’ campaign to their Chinese counterparts, said the PTI report.

The week-long event in Wuxi city included India Culture Week celebrations, which kicked off on Sunday.

The Indian firms would be introducing the latest investment opportunities in India in sectors like renewable energies, solar panels, roads, smart cities, infrastructure development, urban transportation and power sector, which are now available to Chinese companies under the ‘Make in India’ programme.

A series of business-to-business meetings have also been planned for participating Indian companies with their Chinese counterparts, Consul General of India in Shanghai, Prakash Gupta said.

A cultural performance from a Bhangra and Gidda troupe from India, sponsored by Indian Council for Cultural Relations, gave a performance at the South China University Campus.

In addition, an Indian Food Festival is also being held.

Post Session- Sensex sizzles, surges over 330 points

Post Session- Sensex sizzles, surges over 330 points

21/03/2016 16:16

Kicking off a new week on a bullish note, Indian equity benchmarks jumped by more than 1 per cent on Monday with the Sensex soaring by over 300 points and the Nifty surpassing the psychological level of 7,700 as the government’s decision to cut interest rates on small savings further bolstered speculation of a rate cut by the Reserve Bank of India (RBI) at its upcoming policy meet on April 5.

Marking a second straight rally, the 30-share Sensex jumped by 332.63 points or by 1.33 per cent to end at 25,285.37, while the Nifty closed at 7,704.25 up by 99.9 points or by 1.31 per cent.

The BSE Sensex touched intraday high of 25,327.45 and intraday low of 24,988.27. The NSE Nifty touched intraday high of 7,713.55 and intraday low of 7,617.7.

The country’s central bank is poised to cut the repo rate by at least 25 basis points next month as softening consumer inflation, coupled with the government’s decision to maintain fiscal prudence in the Union Budget leave more leeway for policy easing to help buoy demand and revive investments in Asia’s third biggest economy. Moreover, a reduction in the rate offered on small savings schemes, which are seen competing with term deposits offered by banks, also pave the way for further softening of borrowing costs.

Sentiment was also boosted after the Foreign Investment Promotion Board (FIPB) has given the green signal to 15 FDI investment proposals worth Rs 7,262 crore including that of Japanese insurer Nippon Life Insurance, Tata AIA and Aviva Life.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 880.35,+4.05%), State Bank of India (Rs. 196.65,+2.93%), Sun Pharmaceutical Industries Ltd. (Rs. 835.65,+2.42%), Larsen & Toubro Ltd. (Rs. 1227.80,+2.38%), Tata Motors Ltd. (Rs. 374.55,+2.36%), among others.

On the Sectoral front, consumer goods and capital goods advanced 2.01 per cent and 1.80 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3061, shares advanced were 1615 while 1246 shares declined and 200 were unchanged.

In Asia, China’s Shanghai Composite surged by more than 2 per cent to a two-month high and Hang Seng ended tad higher, as policymakers vowed to loosen curbs on the Chinese stock market. China Securities Finance Corp. stressed that it will boost lending to brokerages for their margin trading business in measures aimed at boosting the country’s stock market which recently fell prey to a rout and leverage more than halved from last year’s peak. Japan’s Nikkei 225 was closed for a holiday.