Base Metals & Energy
Natural Gas futures ended with slim gains in the domestic market on Friday as the sharp losses in the energy commodity witnessed in the previous session offered investors a good bargain buying opportunity at existing levels. However, forecasts for milder weather in the US that may curb heating demand for the fuel trimmed gains in Natural Gas. The Commodity Weather Group LLC predicted mostly above average temperatures in the eastern half of the US through December 30, 2014. At the MCX, Natural Gas futures for December 2014 contract closed at Rs 191.9 per 1 kg, up by 0.10 per cent after opening at Rs 194.7, against the previous closing price of Rs 191.7. It touched the intra-day high of Rs 195.4 till the closing.
D A I L Y B U Z Z
NATURAL GAS
Natural Gas futures ended with slim gains in the domestic market on Friday as the sharp losses in the energy commodity witnessed in the previous session offered investors a good bargain buying opportunity at existing levels. However, forecasts for milder weather in the US that may curb heating demand for the fuel trimmed gains in Natural Gas. The Commodity Weather Group LLC predicted mostly above average temperatures in the eastern half of the US through December 30, 2014. At the MCX, Natural Gas futures for December 2014 contract closed at Rs 191.9 per 1 kg, up by 0.10 per cent after opening at Rs 194.7, against the previous closing price of Rs 191.7. It touched the intra-day high of Rs 195.4 till the closing.
COPPER
Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal after reports suggested that China’s central bank eased rules for calculation of deposits and reserve requirements, allowing lenders to make more loans to boost credit growth and help spur a revival in the world’s second biggest economy, lifting the demand outlook for copper. Further, Japan approved a USD 29 billion stimulus package to help revive the recession-hit economy, bolstering the demand outlook for base metals. At the MCX, Copper futures for February 2015 contract is trading at Rs 403.30 per 1 kg, up by 0.71 per cent after opening at Rs 401.45, against the previous closing price of Rs 400.45. It touched the intra- day high of Rs 403.65 till the closing. (At 11:05 AM).
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