Wednesday, January 22, 2014

DAILY COMMODITY COPPER , NICKEL TIPS & CORIANDER, CARDAMOM UPDATES 22 JAN 2014

Base Metals & Energy
COPPER   NICKEL
                                                               D A I L Y B U Z Z
COPPER
Copper prices fell by 0.31 per cent to Rs 455.05 per kg in futures trade today as speculators reduced
holdings due to sluggish demand from consuming industries in the spot market.

At the Multi Commodity Exchange, copper for delivery in February declined by Rs 1.40, or 0.31 per cent, to Rs 455.05 per kg in business turnover of 3,178 lots.

Similarly, the metal for delivery in April shed Rs 1.30, or 0.28 per cent, to Rs 460 per kg in 86 lots.

NICKEL
Nickel prices moved down by 0.53 per cent to Rs 890.30 per kg in futures market today on profitbooking by speculators driven by a decline in demand in the spot market.

At the Multi Commodity Exchange, nickel for delivery in January moved down by Rs 4.70, or 0.53 per cent, to Rs 890.30 per kg in a business turnover of 1,541 lots.

Similarly, the metal for delivery in February traded lower by Rs 4.20, or 0.47 per cent, to Rs 897 per kg in 104 lots.

Agro Outlook
CORIANDER  CARDAMOM
                                                            D A I L Y B U Z Z
CORIANDER
Coriander prices surged by 3.73 per cent to Rs 9,270 per quintal in futures trading today as speculators enlarged their positions on upsurge in spot market demand.

At the National Commodity and Derivative Exchange, coriander for delivery in April jumped by Rs 333, or 3.73 per cent, to Rs 9,270 per quintal with an open interest of 19,570 lots.

Similarly, the spice for delivery in February shot up by Rs 276, or 3.40 per cent, to Rs 8,388 per
quintal in 31,650 lots.

CARDAMOM
Cardamom remained higher for the second straight day and prices added 0.46 per cent to Rs 740.30 per kg in futures trading today as speculators enlarged their positions, tracking a firm trend at spot market on rising demand. Tight supplies in the physical market following less arrivals from producing belt also influenced cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in March added Rs 3.40, or 0.46 per cent, to Rs 740.30 per kg in a business turnover of 50 lots. Likewise, the spice for delivery in February edged up by 90 paise, or 0.13 per cent, to Rs 709 per kg in 45 lots.

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