Tuesday, March 11, 2014

TODAY MCX COMMODITY TIPS 11 MARCH 2014

Base Metals & Energy
                                                          D A I L Y B U Z Z
LEAD
Lead futures were up 0.31 per cent at Rs 130.35 per kg as participants enlarged position on rising spot demand at domestic markets amid a firming trend overseas.

At the Multi Commodity Exchange, lead for delivery in March traded 40 paise, or 0.31 per cent, higher at Rs 130.35 per kg, with a turnover of 471 lots. The metal for delivery in April also rose by 30 paise, or 0.23 per cent, to trade at Rs 131.45 per kg, in a business turnover of 3 lots.

ZINC
Zinc futures prices today fell marginally by 0.35 per cent to Rs 126.45 per kg, largely in line with a weak trend in the global markets and subdued spot demand.

At the Multi Commodity Exchange, zinc for delivery in April fell by 45 paise, or 0.35 per cent, to Rs 126.45 per kg, with a business turnover of 44 lots.

Likewise, the metal for delivery in March fell by 40 paise, or 0.32 per cent, to trade at Rs 125.75 per kg, with a business turnover of 844 lots.

Marketmen said besides sluggish domestic demand, a weak trend in the entire base metals at the London Metal Exchange (LME) following weak Chinese economic data, which raised demand concern, put pressure on Zinc futures prices here.

Agro Outlook
                                                         D A I L Y B U Z Z
CHANA
Chana prices moved up by 0.60 per cent to Rs 3340 per quintal in futures trading today as speculators enlarged their positions, driven by rising demand in the spot market against tight supplies from producing regions.

At the National Commodity and Derivatives Exchange, Chana for delivery in April moved up by Rs 20, or 0.60 per cent to Rs 3,340 per quintal with an open interest of 95,430 lots. Similarly, the commodity for delivery in May contract gained Rs 17, or 0.51 per cent to Rs 3382 per quintal in 39690 lots.

JEERA
Jeera prices dropped 1.64 per cent to Rs 10,485 per quintal in futures market today as speculators offloaded positions, triggered by increased supply from producing belts.

Further, expectations of higher production also put pressure on jeera prices.

At the National Commodity and Derivatives Exchange, jeera for delivery in March drifted by Rs 175, or 1.64 per cent to Rs 10,485 per quintal with an open interest of 2,982 lots. Similarly, the spice for delivery in April lost Rs 155, or 1.45 per cent to Rs 10,570 per quintal in 9,129 lots. 

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