Understanding Equity market is the most difficult thing as the world is a Global village and event happening in any corner of the world normally has impact on Equity market. Frost in Brazil will impact tea prices in India and tea stocks move up this was my 1st lesson in my M.B.A in 1991 and today Sugar and Tea stocks are proving that with SUGAR being @ 28years high. Investor should understand there are multi-factor impacting market but best Investment is made following “You try to be greedy when others are fearful and you try to be very fearful when others are greedy”- Warren Buffett
http://www.fao.org/docrep/004/w7174e/w7174e11.htm IMPACT OF EL NIÑO ON AGRICULTURE, FISHERIES AND FORESTRY
http://www.mydigitalfc.com/sectoral-watch/dip-production-kicks-storm-tea-cup-100# Tea production in the country has fallen sharply. So has the export volume. But domestic demand is still firm, leading to a rise in prices.
China Baosteel cuts Nov steel prices by 9-13% - Umetal
SHANGHAI (Reuters) - China's Baoshan Iron and Steel Co Ltd (Baosteel) has cut prices for its major steel products by 9-13 percent for November sales versus the October tag, industry consultancy Umetal said on Saturday.
Baosteel, the listed unit of China's largest steelmaker, would cut the price of its major hot-rolled steel coil by 400 yuan ($58.61) per tonne, while reducing its major cold-rolled coil price by 700 yuan per tonne, Umetal said.
Baosteel's price of the major hot-rolled steel coil would be 3,942 yuan a tonne for November, while the price of the company's major cold-rolled steel coil would be 4,676 yuan a tonne, according to Reuters' calculation.
(Reporting by Alfred Cang and Edmund Klamann)
Indian Steel Companies have refrained from increasing prices, fearing fall in Chinese steel prices could revive the threat from cheap imports. The strengthening of the rupee is making matters worse. The Indian currency has appreciated over 3.8% in the past week against the dollar, making imports of dollar-denominated commodities cheaper. A spurt in dollar inflows in Indian markets has weakened the greenback against the Indian unit. "The rise of the rupee is a concern in this environment, as it restrains price increases, particularly for flat products,". The threat of cheap imports from China, Commonwealth of Independent States and some other parts of the world subsided a couple of months back after Chinese domestic demand and prices began to inch upward. Now, the fear of an alleged dumping of cheap steel in India lingers on in the volatile global business environment.
