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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Sundar Pichai Visits India

Sundar Pichai : After taking over the helm of growing Internet search giant Google as its CEO, Sundar Pichai is in India for his maiden visit.

In the course of his 2-day visit, Pichai will also meet Prime Minister Narendra Modi and President Mr. Pranab Mukherjee, with whom a state dinner has also been scheduled for tomorrow. He will also address students at Shri Ram College of Commerce tomorrow.

Pichai on Wednesday delivered the keynote address at a Google for India event, outlining the company's plans for Asia.

Herer are five takeaways from his address.

1. 100 railway stations to have wi-fi by Dec 2016 in partnership with Railtel.

2. Mumbai Central to go live by January.

3. Google will build new campus, ramp up engineering presence in Hyderabad to make products for India

4. Google will up hiring in Bengaluru.

5. Google will help women from three lakh villages all over India to get online in three years.

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Commodity tips & updates for 16 Dec, 2015

Prices of Chana ended lower by 0.08 per-cent on yesterday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. 

At NCDEX, chana futures for Dec 2015 contract closed at Rs. 5,078 per quintal, down by 0.08 per-cent, after starting at Rs. 5,095 as compared to the previous closing price of Rs. 5,082. It attained the intra-day low of Rs. 5,035.

 

Ncdex : Maize prices closed down by 1 per-cent on yesterday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher world wide supplies and weak offtakes from the native buyers.

At the NCDEX, maize futures for Dec 2015 contract closed at Rs. 1,481 per quintal, down by 1 per-cent, after unlocking at Rs. 1,475 against the previous closing price of Rs. 1,496. It attained the intra-day low of Rs. 1,475.

Sentiment weakened further as a result of a decline in the requirement for the commodity segment from bio-fuel making industries tracking the weak world markets. 

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Zinc futures Ended Lower in the Domestic Market

Zinc futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid soft physical demand for Zinc in the domestic spot market.

Further, fears that a worsening outlook in China, the world’s Huge metals consumer, may curb the demand for the industrial metal also weighed on sentiment as China’s factories remained in contraction mode as the China official PMI came in at 49.8 in September, tad below the neutral 50-mark, a sign that the country’s slowdown isn’t easing any time soon. Deepening factory-gate deflationary spiral, weak external demand and industrial overcapacity are weighing down China’s factories, raising fears that the economy may miss the 7 % growth target for this year.

At the MCX, Zinc futures for September 2015 contract closed at Rs 110.65 per 1 kg, down by 0.45 per cent after opening at Rs 111.55, against the previous closing price of Rs 111.15. It touched the intra-day low of Rs 110.05.

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Chana Ends Higher As Demand Picks Up

Chana prices closed higher 3.7 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for October 2015 contract closed at Rs. 4,565 per quintal, up by 3.7 per cent, after opening at Rs. 4,452 against the previous closing price of Rs. 4,402. It touched the intra-day high of Rs. 4,573.

Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.

India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

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Mustard Seed Ends Lower As Demand Weakens

 

MustardSeed prices closed lower by 0.77 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At the NCDEX, Mustard Seed futures for Sept 2015 contract closed at Rs. 4,236 per quintal, down by 0.77 per cent, after opening at Rs. 4,273 against the previous closing price of Rs. 4,269. It touched the intra-day low of Rs. 4,228.

Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.

EU-27 accounts to about 34 per cent of worlds RM seed production, others major producers are China (23 %), Canada (19 % ), India (14 % ), Australia (3 % ), Ukraine (2 % ). India produces 5.5 million MT to7 million MT annually. 

 

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Gold updates for fresh wednesday

The yellow metal on Tuesday, fell prey to widespread caution among traders, as Gold futures registered significant losses with all eyes glued to the outcome of the two-day US Federal Reserve policy meet late Wednesday, in which the world’s top central bank is likely to offer some cues over the timing for a maiden interest rate lift-off since 2006.Fed Chair Janet Yellen indicated recently that the FOMC is likely to raise rates at some point in 2015, curbing the lure for Gold as a store of value as the precious metal, which doesn’t earn any interest, loses out against competing assets.Many anticipate that the ongoing July meet would be the last before the Fed begins a planned lift-off in interest rates most likely from September.While China’s stocks extended a rout, Wall Street rebounded on Tuesday as better than estimated corporate

earnings bolstered sentiment, curbing some of the safe haven appeal for the bullion.Modest gains in the dollar also dimmed the appeal of the precious metal as an substitudenal asset. Stronger greenback makes Gold more expensive for those holding other currencies, thus curbing demand.Gold may extend losses today as traders play safe ahead of the FOMC policy meet outcome late Wednesday.At the MCX, Gold futures for August 2015 contract closed at Rs 24,752 per 10 gram, down by 0.59 per cent after cracking at Rs 24,799, against the end closing price of Rs 24,899. It touched the intra-day low of Rs 24,701.

 

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Crude oil futures posted slim gains in the domestic market

Snapping a prolonged bearish ride, Crude oil futures posted slim gains in the domestic market on Tuesday as a retreat in the US dollar boosted the demand for oil as an alternative asset.Weaker greenback makes Oil cheaper for those holding other currencies, thus lifting demand.Moreover, speculation that an improving American economy will consume more fuel also supported sentiment. National chain-store sales in the US eked out a 0.2 per cent gain in the first two weeks of July from the same period in June, signaling improved consumer demand, boding well for Oil.However, the gains in the energy commodity were limited by a surprise bump in US storage levels which threatened to exacerbate a global supply glut at a time when Saudi production is at record highs while Iran is set to unleash millions of barrels of its crude as soon as sanctions against the Islamic nation are lifted following a landmark nuclear deal with the West last week.The American Petroleum Institute reported that US crude oil stockpiles climbed last week, up by 2.3 million barrels, compared to expectations of a 1.9 million barrels decline.Oil may extend gains today with government data likely to show a drop in US crude supplies.At the MCX, Crude oil futures, for the August 2015 contract, closed at Rs 3,235 per barrel, up by 0.09 per cent, after opening at Rs 3,224, against the previous close price of Rs 3,232. It touched an intraday high of Rs 3,285.
 

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Commodity Tips and Updates for 13 July 2015

Commodity Tips : Jeera prices closed higher by 0.22 per cent on Friday 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 NCDEX, jeera futures for July 2015 contract closed at Rs. 16,205 per quintal, up by 0.22 per cent, after opening at Rs. 16,210 against the previous closing price of Rs. 16,170. It touched the intra-day high of Rs. 16,380.

Maize prices ended lower by 0.49 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At NCDEX, maize futures for July 2015 contract closed at Rs. 1,218 per quintal, down by 0.49 per cent, after opening at Rs. 1,225 against the previous closing price of Rs. 1,224. It touched the intra-day low of Rs. 1,210.

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Mcx Commodity Tips and updates for 9 July 2015

Mcx Commodity Tips : Scripting a smart rebound, the yellow metal bounced back on Wednesday as heightened turmoil in China’s equities and fears that Greece may be pushed out of the euro bolstered safe haven demand for Gold. China’s stock market rout showed no signs of easing with the Shanghai Composite bleeding nearly 6 per cent on Wednesday, defying government measures to arrest a near four-week slump in equities. Late Wednesday, China banned major shareholders from selling stakes in listed companies, the latest in a series of measures undertaken by policymakers that have included interest rate cuts to loosening of bank’s reserve requirements and suspension of new share sales to restore confidence in the country’s stock market that has eroded more than USD 3 trillion in value. Meanwhile, Greece has until Thursday night to submit fresh economic reform measures including spending cuts to press for a new bailout and convince European leaders to keep the cash-strapped country in the euro. Greece on Wednesday made an official request for a three-year bailout from Europe’s. The FOMC minutes which highlighted risks from Greece to China, to the US economy stressed that officials are awaiting a further evidence of stronger economic growth including a pickup in consumer spending before deciding to tighten policy. Gold may extend gains today on expectations of delayed US rate lift-off while awaiting Greece’s response to Europe’s calls for a wave of new reforms to win new bailout aid.

At the MCX, Gold futures for August 2015 contract closed at Rs 26,213 per 10 gram, up by 0.70 per cent after opening at Rs 26,008, against the last closing price of Rs 26,032. It touched the intra-day high of Rs 26,248 till the closing.

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Precious Metals Tips and Updates for 26 May 2015

Gold futures wrapped up the week in bearish mode as prices retreated in the domestic market on Friday after US Federal Reserve Chair Janet Yellen termed a 2015 interest rate hike as “appropriate”, dimming the luster for the precious metal as a store of value. Yellen sees the world’s top central bank raising interest rates for the first time since 2006 this year, if economic data comes in line with forecasts, with a gradual pace of tightening, thereafter. Better than expected US inflation data further bolstered the case for rate tightening in 2015. Core consumer prices in the US climbed 0.3 per cent in April 2015 from the previous month, the biggest gain since January 2013, signaling a pickup in inflationary pressures in the world’s biggest economy. A stronger dollar also kept pressure on gold by curbing the demand for the precious metal as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand. Gold may extend losses today amid renewed US rate hike fears. At the MCX, Gold futures for June 2015 contract closed at Rs 27,082 per 10 gram, down by 0.10 per cent after opening at Rs 27,159, against the previous closing price of Rs 27,108. It touched the intra-day low of Rs 27,053 till the closing.

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Agro Outlook Updates for 21 May 2015

Barley prices closed higher by 0.16 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of strong demand from beer and cattle-feed making industries against restricted supply in physical markets. At the NCDEX, barley futures for June 2015 contract closed at Rs. 1,265 per quintal, up by 0.16 per cent, after opening at Rs. 1,261 against the previous closing price of Rs. 1,263. It touched the intra-day high of Rs. 1,269.5.

Jeera prices closed higher by 1.25 per cent on Wednesday 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 June 2015 contract closed at Rs. 18,695 per quintal, up by 1.25 per cent, after opening at Rs. 18,410 against the previous closing price of Rs. 18,465. It touched the intra-day high of Rs. 18,965.

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DAILY MCX NCDEX COMMODITY NICKEL TIPS & JEERA UPDATE 23 MAY 2014

Base Metals & Energy 

D A I L Y B U Z Z 

NICKEL 

Nickel prices recovered by 1.51 per cent to Rs 1,155.70 per kg in the futures market today largely in tandem with a rebound in base metals overseas. 

Besides, pick up in demand from alloy-makers in the spot markets supported the upside. 

At the Multi Commodity Exchange, nickel for delivery in May gained Rs 17.20, or 1.51 per cent, to Rs 1,155.70 per kg in business turnover of 1,009 lots. 

The metal for delivery in June rose by Rs 17.30, or 1.51 per cent, to Rs 1,160.90 per kg in 108 lots. 

Globally, nickel rose 1.3 per cent to USD 19,750 per tonne at the London Metal Exchange (LME), snapping a two-day decline. 

The metal is up 42 per cent this year so far, the most among the main six metals on the LME, as 

Indonesia, the world's largest producer from mines, banned ore exports in January. 

Market analysts said apart from increased domestic demand from alloy-makers, firmness in 

base metals overseas influenced nickel futures here.

Agro Outlook 

D A I L Y B U Z Z 

JEERA 

Jeera prices shot up by over 1 per cent to Rs 11,130 per quintal in futures trading today as speculators created fresh positions. 

At the National Commodity and Derivatives Exchange, jeera for delivery in June spurted by Rs 115, or 1.04 per cent, to Rs 11,130 per quintal with an open interest of 8,511 lots. 

Similarly, the spice for delivery in July shot up by Rs 115, or 1.03 per cent to Rs 11,255 per quintal in 3,627 lots. Analysts attributed rise in jeera futures to pick up in domestic and export demand in the spot market, triggering speculators to enlarge positions. 

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RESEARCH VIA MCX COMMODITY TIPS FOR 09 JAN 2014

Precious Metals
GOLD  SILVER
                                                        D A I L Y B U Z Z
Gold prices fell by Rs 160 to Rs 30,000 per ten grams in the national capital today on sustained selling by stockists against sluggish demand amid a weak global trend.

Silver also dropped by Rs 1,050 to Rs 44,300 per kg on reduced offtake by industrial units, particularly coin makers, amid weak global cues.

In Mumbai, Gold of 99.9 and 99.5 per cent purity traded at Rs 29,850 and Rs 29,700 per ten grams, respectively, while silver enquired at Rs 45,000 per kg.

Traders said sustained selling by stockists against sluggish demand and a weak global trend as strengthening dollar reduced the metal's appeal as an alternative investment mainly led to the fall in the prices of the precious metal.

Gold in Singapore, which normally sets price trend on the domestic front, fell 0.5 per cent to $1,225.71 an ounce and silver by 1.1 per cent to $19.64 an ounce.

At the domestic front, gold of 99.9 and 99.5 per cent purity fell further by Rs 160 each to Rs 30,000 and Rs 29,800 per ten grams, respectively. Sovereign declined by Rs 100 to Rs 25,000 per piece of eight gram. Silver ready dropped by Rs 1,050 to Rs 44,300 per kg and weekly-based delivery by Rs 1,200 to Rs 44,300 per kg.

Base Metals & Energy
COPPER  CRUDE OIL 
                                                          D A I L Y B U Z Z
Nickel prices moved up by 0.13 per cent to Rs 852.20 per kg in futures trade today as speculators
enlarged their positions driven by rising demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in January gained Rs 1.10, or 0.13 per cent, to Rs 852.20 per kg in a business turnover of 1,411 lots.

Similarly, the metal for delivery in February moved up by 90 paise, or 0.10 per cent, to Rs 860.40 per kg in 44 lots.

SOURCE : Commodity Tips, mcx ncdex tips

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RESEARCH VIA COMMODITY UPDATE FOR 03/OCT/2013

Precious Metals

SILVER GOLD

                                              D A I L Y 

B U Z Z

Gold prices declined by 0.38 per cent to Rs 29,760 per ten grams in futures trade today as speculators trimmed their positions on weakening global trend.

At the Multi Commodity Exchange, Gold for delivery in December fell by Rs 114, or 0.38 per cent, to Rs 29,760 per ten grams in business turnover of 1,472 lots.

Similarly, the yellow metal for delivery in October traded lower by Rs 101, or 0.33 per cent, to Rs 30,324 per ten grams in 355 lots.

Market analysts said speculators trimmed their positions in tandem with a weak global trend on speculation that any US government shutdown will be short-lived, mainly influenced the sentiment.

Meanwhile, gold fell by 0.3 per cent to $1,324.95 an ounce in Singapore.

Base Metals & Energy

COPPER CRUDEOIL

                                           D A I L Y B U Z Z

Copper prices fell by 0.42 per cent to Rs 464.45 per kg in futures trade today as speculators offloaded their positions, taking negative cues from overseas markets.

Sentiment turned bearish after copper fell for the first time in five days in global markets on concern that the first US government shutdown in 17 years may curb demand.

At the Multi Commodity Exchange, copper for delivery in November fell by Rs 1.95, or 0.42 per cent to Rs 464.45 per kg in business turnover of 5,578 lots.

Similarly, the metal for delivery in February traded lower by Rs 1.35, or 0.28 per cent to Rs 474.90 per kg in 252 lots.

Nickel prices weakened by 0.18 per cent to Rs 876 per kg in futures trade today as speculators offloaded their positions on the back of subdued demand from alloy -makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in October declined by Rs 1.60, or 0.18 per cent, to Rs 876 per kg in business turnover of 1,185 lots.

Similarly, the metal for delivery in November traded marginally lower by 50 paise, or 0.06 per cent, to Rs 886.20 per kg in 33 lots.

Agro Outlook

CHANA  DHANIYA

                                        D A I L Y B U Z Z

Cardamom prices fell by 1.11 per cent to Rs 764.80 per kg in futures trading today as speculators trimmed position, tracking a weak trend at spot market due to sluggish demand.

Further, adequate stocks availability in the spot market following increased arrivals from producing regions also put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in November fell by Rs 8.50, or 1.11 per cent to Rs 754.80 per kg in business turnover of 155 lots.

Similarly, the spice for delivery in October traded lower by Rs 5.50, or 0.76 per cent to Rs 715.30 per kg in 310 lots.

Market analysts said offloading of positions by speculators, tracking a weak trend at spot market on sluggish demand against adequate supplies from producing regions, mainly influenced cardamom prices at futures trade.

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RESEARCHVIA DAILY COMMODITY REPORT FOR 19/09/2013

Precious Metals

SILVER   GOLD

                                              DAILY BUZZ

Gold prices fell 0.87 per cent to Rs 29,465 per 10 gm in futures trade today, as participants reduced their positions largely in tandem with a weak overseas trend.

At the Multi Commodity Exchange, gold for delivery in October contract eased by Rs 258, or 0.87 per cent, to Rs 29,465 per 10 gm in business turnover of 278 lots.

Likewise, the metal for delivery in far-month December shed Rs 170, or 0.78 per cent, to Rs 29,340 per 10 gm in 22 lots.

Silver prices fell by 1.49 per cent to Rs 48,666 per kg in futures trade today as speculators indulged in trimming positions, taking weak cues from the global markets.

At the Multi Commodity Exchange, silver for delivery in December traded lower by Rs 735 or 1.49 per cent, to Rs 48,666 per kg in business turnover of 470 lots.

Similarly, the white metal for delivery in March declined by Rs 617, or 1.22 per cent, to Rs 49,883 per kg in business volume of 4 lots.

Base Metals & Energy

COPPER   CRUDEOIL

                                            DAILY BUZZ

Copper prices rose 0.22 per cent to Rs 457.60 per kg in futures trade on Thursday as speculators enlarged positions, largely in tune with a firm overseas trend, amid rising demand in spot market.

At the Multi Commodity Exchange, copper for delivery in November traded higher by Re one,

or 0.22 per cent, to Rs 457.60 per kg in business turnover of 8,180 lots.

The metal for delivery in far-month February edged up by 45 paise, or 0.10 per cent, to Rs

467.35 per kg in 277 lots.

Globally, copper for delivery in three months on the London Metal Exchange rose 0.3 per cent to $ 7,094.75 a tonne.

Market analysts said apart from increased demand at domestic spot markets from consuming

industries, a firming overseas trend before the US Federal Reserve concludes a two-day meeting today when policy makers will decide whether to slow its monthly bond-buying programme, influenced copper futures here.

Agro Outlook

CHANA DHANIYA

                                       DAILY  BUZZ

Chana prices moved down by 0.54 per cent to Rs 3,141 per quintal in futures market today asspeculators reduced holdings amid sluggish demand in the spot market against adequate

supplies.

At the National Commodity and Derivatives Exchange, chana for delivery in October fell by Rs17, or 0.54 per cent to Rs 3,141 per quintal with an open interest of 1,58,340 lots.

Likewise, the commodity for delivery in September declined by Rs 12 or 0.39 per cent to Rs

3,056 per quintal in 2,970 lots.

Amid rising demand and restricted arrivals from producing regions, Cardamom prices rose for the second day by adding 0.30 per cent to Rs 813.40 per kg in futures trade today as speculators enlarged their positions.

At the Multi Commodity Exchange, cardamom for delivery in November gained Rs 2.40, or 0.30 per cent to Rs 813.40 per kg in business turnover of 4 lots.

Similarly, the spice for delivery in October edged up by 40 paise, or 0.05 per cent to Rs 775.30per kg in 238 lots.

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RESEARCH VIA DAILY COMMODITY REPORT FOR 12/09/2013

Precious Metals
SILVER GOLD:
                                                DAILY BUZZ
Gold prices slide by 0.34 per cent to Rs 30,649 per ten gram in futures trade today as speculators trimmed positions on weak global trend.
At the Multi Commodity Exchange, gold for delivery in October month fell by Rs 104, or 0.34 per cent, to Rs 30,649 per ten gram in business turnover of 7,767 lots.
Likewise, the yellow metal for delivery in December traded lower by Rs 81, or 0.30 per cent, to Rs 30,558 per ten gram in 499 lots.
Market analysts attributed the fall in gold futures to a weak global trend.

Meanwhile, gold fell by $ 23.20 to $ 1363.30 an ounce in New York last night.

Base Metals & Energy

COPPER  CRUDE OIL

                                             DAILY BUZZ

Zinc futures prices on Wednesday rose by one per cent to Rs 121 per k g as speculators enlarged positions, tracking a firming trend overseas.

At the Multi Commodity Exchange, zinc prices for delivery in October up by Rs 1.20, or one per

cent, to Rs 121 per kg in business turnover of six lots.

Likewise, the metal prices for delivery in September gained Rs 1.15, or 0.97 per cent to Rs 119.55

per kg in 208 lots.

Nickel prices surged by 1.42 per cent to Rs 883.50 per kg in futures trade today as speculators enlarged their positions on the back of strong demand from alloy -makers in the spot market amid a firming global trend.

At the Multi Commodity Exchange, nickel for delivery in September month traded Rs 12.40, or 1.42 per cent, higher at Rs 883.50 per kg in business turnover of 728 lots.

In a similar fashion, the metal for delivery in October shot up by Rs 12, or 1.36 per cent, to Rs 892 per kg in 44 lots.

Agro Outlook

CHANA   DHANIYA

                                        DAILY  BUZZ

Cardamom prices rose 1.46 per cent to Rs 798 per kg in futures trade on Wednesday as traders enlarged positions driven by pick-up in spot market demand.

The tight stocks position following less arrivals from producing regions also influenced cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in in October rose by Rs 11.50, or 1.46

per cent, to Rs 798 per kg, with a business turnover of 315 lots.

Similarly, the spice for delivery in November edged up by Rs 6.80, or 0.83 per cent, to Rs 823.50 per kg with a business turnover of 34 lots.

Mentha oil futures prices today moved down by 0.70 per cent to Rs 886 per kg due to higher supplies from producing regions against lower demand from pharmaceutical units.

Adequate stocks following higher supplies from producing region in the physical market also kept pressure on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in September declined by Rs 6.30, or

0.70 per cent, to Rs 886 per kg in business turnover of 248 lots. Likewise, the oil for delivery in October traded lower by Rs 2.80, or 0.30 per cent, to Rs 902.70 per kg in 37 lots.

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RESEARCH VIA DAILY COMMODITY REPORT FOR 10/ SEP/ 2013

Precious Metals

SILVER GOLD

                                                         D A I L Y B U Z Z

Silver prices fell 1.07 per cent to Rs 54,108 per kg in futures market today as speculators trimmed their positions, tracking a weak global trend.

At the Multi Commodity Exchange, silver for delivery in December moved down by Rs 587, or 1.07 per cent to Rs 54,108 per kg in business turnover of 3349 lots.

Similarly, the silver for delivery in March lost Rs 495, or 0.89 per cent to Rs 55,400 per kg in 18 lots.

Market analysts attributed the fall in silver futures to speculators trimming their positions in tandem with a weak global trend.

Base Metals & Energy

COPPER  CRUDE OIL

                                                       D A I L Y B U Z Z

Amid a weak trend overseas and profit-booking by speculators, copper prices fell by 1.23 per cent to Rs 486.55 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in far-month February fell Rs 6.05, or 1.23 per cent, to Rs 486.55 per kg in a business turnover of 241 lots.

Similarly, the metal for delivery in November traded lower by Rs 5.70, or 1.18 per cent to Rs 478 per kg in 2,766 lots.

Lead prices fell by 1.24 per cent to Rs 1 39.90 per kg in futures trade today as speculators trimmed exposure on subdued spot demand amid a weak trend in the base metals in global markets.

At the Multi Commodity Exchange, lead for delivery in September fell by Rs 1.75, or 1.24 per cent, to Rs 139.90 per kg in business turnover of 1,155 lots.

The metal for delivery in October also fell by Rs 1.75, or 1.23 per cent, to Rs 140.65 per kg in a turnover of 71 lots.

Agro Outlook

CHANA  DHANIYA

                                                      D A I L Y B U Z Z

Soybean prices hardened by Rs 69.50 to Rs 3,561 per quintal in futures trading today on traders' buying on the back of firm overseas markets sentiment.

Marketmen said thin supply and pick up in domestic demand mainly supported the upsurge in futures trade.

At the National Commodity and Derivatives Exchange, soybean prices for far January contractspurted by Rs 69.50, or 1.91 per cent to Rs 3,561 per quintal, with an open interest of 3,090 lots.

Most active near November contract surged by Rs 63.50, or 1.79 per cent to Rs 3,508 per quintal,

having an open interest of 1,14,030 lots.

Mentha oil prices edged up by Rs 1.50 to Rs 948.50 per quintal in futures today as speculators

enlarged positions after pick up in demand in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in September edged up by Rs 1.50, or

0.16 per cent to Rs 948.50 per kg in business turnover of 619 lots.

Likewise, the oil for delivery in October traded marginally higher by 20 paise, or 0.02 per cent to

Rs 962.60 per kg in 85 lots.

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