The Indian government has asked sugar mills to ensure adequate supplies during the festival season and keep prices stable. Sugar prices in the world’s biggest consumer hit a record high last month on supply concerns, after which New Delhi allowed dutyfree imports of 1 million metric tons. The government has so far received applications to import 800,000 metric tons, while prices have eased recently but remain nearly 20% higher than two months ago.

The U.S. Department of Commerce has proposed a 15% tariff on refined copper imports starting next year, rising to 30% by 2028, with an investigation report on whether to impose the duties due by June 30. COMEX copper inventories have climbed to a record 696,000 tonnes while LME stockpiles have fallen 40%. LME spot copper has traded at $14,737 a tonne, at a sharp premium to the three-month futures price. Against that backdrop, copper prices have remained elevated.

Spot gold rose 0.4% to $4,372.19 an ounce on Wednesday, supported by a subdued U.S. dollar. Renewed attacks between the United States and Iran, along with upcoming U.S. inflation readings, kept attention on the interest-rate outlook. Expectations of a Federal Reserve rate hike continued to cap bullion, even as concerns over dollar debasement trades and fiscal deficits lent support. Spot silver gained 0.4% to $66.00, platinum climbed 1% to $1,831.76, while palladium slipped 0.3% to $1,344.69.

Shares of GE Vernova T&D India rose 8.77% to ₹4,750 on September 8 after the company was named the L1 bidder by Power Grid Corporation of India for an HVDC transmission project. The order covers the design and execution of a 6,000 MW, 800 kV converter station to evacuate renewable power from Rajasthan’s Barmer II renewable energy zone to South Kalamb. Brokerages upgraded their growth outlook for the stock, projecting a 31% CAGR in profit after tax from FY26 to FY29.

Chicago wheat futures surged after limited progress in U.S. diplomatic efforts to ease conflict in the Black Sea reignited concerns over Ukrainian and Russian grain export prospects. The most-traded wheat contract jumped 3% to $7.56-1/2 a bushel. Corn rose 0.7% to $5.40-1/4 a bushel, while soybeans edged up 0.2% to $13.12 a bushel.

Brent crude rose about 8% last week, hovering near $95 a barrel as escalating U.S.-Iran tensions fueled worries about potential supply disruptions through the Strait of Hormuz. India’s foreign-exchange reserves climbed to a record $740.8 billion as of August 28, giving the central bank a larger buffer to manage currency swings. In the U.S., August nonfarm payrolls increased by 1,62,000, keeping uncertainty around the Federal Reserve’s policy outlook in focus.

A 1% rise in the Indian rupee against the U.S. dollar, driven by FCNR deposit inflows, has weighed on rupee-denominated gold and silver prices. India’s spot gold fell 4% over eight trading sessions to ₹1,54,884, while silver also dropped 4% to ₹2,35,456. Over the same period, U.S. spot gold slid 3% to $4,523 an ounce, pointing to broader weakness in global bullion prices. The pullback ahead of the festive season is influencing consumer buying behaviour, with some holding off purchases amid uncertainty.

New York raw sugar futures retreated sharply from a 17-month high, falling as much as 4.8% intraday for the biggest drop since May. Prices had surged more than 21% last month after India allowed up to 1 million tons of duty-free raw sugar imports, stoking concerns about tight supply. But softer domestic prices in India have damped expectations for overseas purchases, with Rabobank estimating actual imports at 500,000 to 600,000 tons.

BMI raised its 2026 average coffee price forecast to 307 cents a pound, citing a strengthening El Nino and historically thin inventories. It expects global coffee production to rise 6% to 188.9 million bags in 2026-27, led by Brazil, where output is seen up 14.1% to 71.9 million bags, while Vietnam is forecast to edge up to 31.9 million bags. BMI sees Brazil’s 2027-28 crop slipping 5.1% to 68 million bags, narrowing the global surplus from 14.4 million bags to 9.2 million bags and keeping prices supported.