Thursday, December 18, 2014

DAILY COMMODITY REPORT FOR 18 DEC 2014

Base Metals
D A I L Y B U Z Z
COPPER
Copper prices fell by 0.66 per cent on Wednesday at the domestic markets after manufacturing activity in France contracted unexpectedly in December according to data released, fuelling concerns over the outlook for the euro zone’s second largest economy which reduced the demand outlook for the metal. Research group Markit said its preliminary French manufacturing purchasing managers’ index fell to 47.9 this month from a final reading of 48.4 in November. Analysts had expected the index to tick up to 48.6. At the MCX, copper futures for February 2015 contract were trading at Rs.406.05 per 1 kg, down by 0.66 per cent, after opening at Rs. 408.15 against the previous closing price of Rs. 408.75. It touched the intra-day low of Rs. 405.50 till the trading. (At 4.25 PM).

Agro Outlook
D A I L Y B U Z Z
JEERA
Jeera prices closed higher by 0.7 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for December 2014 contract closed at Rs. 12,950 per quintal, up by 0.7 per cent, after opening at Rs. 12,985 against the previous closing price of Rs. 12,860. It touched the intra-day high of Rs. 12,985. Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. 

Followers