Base Metal: Copper futures in reverse gear in noon

In the domestic market on Thursday Copper futures were little changed during the afternoon trade as participants trimmed their positions in the industrial metal amid drop in physical demand for copper in the domestic spot market.

Moreover, the prices for copper declined in the domestic markets due to a fall in demand for metal at the futures trade.

At the MCX, for Nov. 2016 contract copper futures is trading at Rs 328.15 per kg, downward by 0.06 %, after opening at Rs 328.20, against a previous close of Rs 328.35. It touched the intra-day lower of Rs 327.85. 

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Commodity Watch: Copper futures rise on spot demand

In the domestic market Copper futures were trading high during the noon trade on Friday as participants extended their positions in the industrial metal amid hike in physical demand for copper in the domestic spot market.

Further, the price for copper in the domestic markets rose due to an increase in demand for the metal at the future trade. At the MCX, copper futures for Nov. 2016 contract is trading at Rs 321.50 per kg, upward by 0.14 %, after opening at Rs 320.80, against a last close of Rs 321.05. It touched the intra-day high of Rs 321.70.

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Today Copper futures drop during noon

In the domestic market Copper futures were trading lower during the afternoon trade on Thursday as participants exited their positions in the industrial metal on lower physical demand for copper form consuming industries coupled with weak overseas cues.

Further, the slide in prices for copper was attributed to a weak global trend where metal weakened and a decrease in demand form consuming industries at the domestic spot markets, too influenced copper prices at futures trade.

At the MCX, copper futures for Nov 2016 contract is trading at Rs 321.30 per kg, downward by 0.22 %, after opening at Rs 322.10, against a previous close of Rs 322. It touched the intra-day low of Rs 319.80.

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Copper futures were trading with slim Gains

 Base Metal Tips - Copper futures were trading with slim gains during noon trade in the domestic market on Tuesday as signs of a rebound in the Japanese economy offset concerns that a worsening economic slowdown in China may curb demand for industrial metals.  Factories in Japan boosted production at the fastest pace in 20 months as the country’s manufacturing PMI climbed to 52.8 in November from 52.4 in October, with a reading above 50 signaling expansion, an indication that the world’s third biggest economy may have bounced back from a recession, in the last quarter of 2015.

However, the gains in copper were trimmed by ongoing worries over China’s economy which is tipped to grow at the weakest pace in more than two decades in 2015.

At the MCX, Copper futures for November 2015 contract were trading at Rs.297.15 per kg, up by 0.19 per cent, after opening at Rs. 296.6, against the previous closing price of Rs. 296.6. It touched an intraday high of 298.35.

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Copper Tips and Updates for 7 July 2015

Copper Tips : Kicking off the week on a bearish note, Copper futures plunged more than 3 per cent in the domestic market on Monday as investors and speculators exited positions in the industrial metal amidst speculation that the fallout of the Greek contagion may hurt global business and investor sentiment, weakening growth in the world economy, adversely impacting copper demand. Majority of Greeks over the weekend voted against further austerity measures demanded by Greece’s creditors, which have ravaged the country’s cash-strapped economy, paving the way for the Mediterranean nation’s exit from the euro with Greece highly unlikely to secure any further European funding. Moreover, the recent stock market crash in China, the world’s biggest metals consumer, has cast a cloud over the country’s growth outlook, taking further toll on copper prices. China’s stocks regained on Monday after regulators suspended initial public offerings while the country’s brokerages vowed to purchase shares, the central bank promised to provide more liquidity for margin trading and mutual funds pledged to increase investment in their stock funds in measures aimed at restoring confidence in the country’s equities and halting the biggest three-week slide in stocks since 1992. Copper may rebound today as a pickup in US services growth signaled strength in the world’s biggest economy, lifting demand prospects for industrial metals. At the MCX, Copper futures for August 2015 contract closed at Rs 357.30 per 1 kg, down by 3.43 per cent after opening at Rs 368, against the last closing price of Rs 370. It touched the intra-day low-lying of Rs 355.90.

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MCX Commodity Updates ~ Gold, Silver, Copper, Crude Oil Tips Today 02 April 2013

Gold prices recovered by Rs 130 to Rs 30,200 per ten grams in the national capital today on fresh buying by stockists. However, silver held steady at Rs 53,500 per kg on lack of buying support from industrial units and coin makers. On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 130 each to Rs 30,200 and Rs 30,000 per ten grams, respectively, while sovereign held steady at Rs 25,250 per piece of eight gram. On the other hand, silver ready held steady at Rs 53,500 per kg while weekly-based delivery lost Rs 150 at Rs 53,750 per kg on lack of speculators buying support.

Base metal prices fell up to Rs 5 per kg on the local non-ferrous metals market today on stockists selling in tandem with a weak Asian trend. Meanwhile, copper for delivery in July fell 2 per cent to close at USD 8,656 a tonne, the lowest level since July 25 on the Shanghai Futures Exchange. In the national capital, copper and nickel (4x4) fell Rs 5 each to Rs 432 and Rs 1,052-1,055 per kg, respectively. Zinc ingot, lead ingot and lead imported were also traded lower by Rs 2 each to Rs 123-129, Rs 142 and Rs 140 per kg, respectively.

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MCX Commodity Market Report Today 01 April 2013

Bullion: Gold futures were down on local bourses tracking the COMEX contracts which came under pressure after investors booked profits ahead of the long Easter weekend. Marginal gains in the rupee against the dollar also put pressure on local gold prices.

Metals: Base metals futures on MCX were trading lower tracking benchmark contracts on the London Metal Exchange, where prices declined on Eurozone economic concerns and profit booking ahead of the long weekend. Appreciation 

in rupee against the dollar also weighed on MCX base metal futures. A firm rupee makes import of dollar-denominated commodities cheaper.

Energy: Domestic crude oil futures were trading slightly higher due to bargain buying, but the upside was capped following a fall in benchmark contracts on the New York Mercantile Exchange and firm rupee against the dollar. NYMEX, crude oil futures declined today on Eurozone economic concerns and following a sharp rise in the US crude oil stocks.

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MCX Commodity Market News Updates Today 28 March 2013

Bullion: Gold futures were trading up on the local bourses tracking the COMEX futures that came under pressure after investors booked profits ahead of the Easter holidays this week. In the short term, the gold price is likely to be driven largely by news of developments in Cyprus. Silver futures were down on local exchanges due to weakness in COMEX futures. On COMEX, silver futures fell tracking the weakness in base metals. 

Metals: Base metals on MCX were trading lower tracking the same movement in the LME. Base metals are mostly lower on the London Metal Exchange Wednesday, drifting in thin trade as euro-zone jitters continue to depress investor sentiment.

Energy: Domestic crude oil futures were trading higher tracking gains in benchmark contracts on the New York Mercantile Exchange. The U.S. Energy Information Administration said commercial crude-oil stockpiles rose by 3.3 million barrels last week, surprising analysts that had expected a more modest 700,000-barrel increase and sending total stocks to a nine-month high of 385.9 million barrels. 

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MCX Commodity Tips - NCDEX Agri Commodity Market Data

Precious metals are trading higher on International bourses today. We expect prices to trade higher for the day. All base metals are trading on a positive note today. We expect prices to trade higher for the day on account of heavy risk appetite in the market. Crude oil is trading flat on NYMEX today. We expect prices to trade higher for the day.

NCDEX Agri Commodity Market Updates Today:

Guar Complex is expected to trade higher for the day. Outlook for Chana is down for the day. Outlook for Jeera is sideways to up for the day. Pepper futures to trade higher for the day. Outlook for Soybean is seen down for the day. CPO is expected to trade lower.

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MCX Commodity Market News and NCDEX Agri Tips Today

Precious metals are trading lower on COMEX today. Industrial metals are trading flat on International bourses today. We expect prices to trade lower for the  day on account of concerns over euro zone debt worries. Crude oil is trading higher on NYMEX today. We expect prices to trade lower for the day.

Outlook for Jeera is sideways to up for the day. Pepper futures to trade higher for the day. Guar Complex is expected to trade higher for the day. Outlook for Chana is down for the day. Outlook for Soybean is seen down for the day. CPO is expected to trade lower.

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