Zinc futures rose by 2.06 percent in Todays Trade

Base Metal Zinc - Zinc futures rose by 2.06 per cent to Rs 104.10 per kg today as speculators increased positions in the midst of a strong trend globally. Besides, high demand in domestic spot markets fuelled the uptrend. Zinc futures for December 2015 contract, at MCX, were trading at Rs 104.10 per kg, up by 2.06 per cent after opening at Rs. 102.40 against the previous closing price of Rs. 102. It touched the intra-day high of Rs. 104.35 till the trading. (At 4.08 PM today). Sentiment improved further due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 4200 metric tonnes to 512850 metric tonnes as on December 11, 2015.

 

Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.

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Zinc Slips on Bearish Buying Interest

 

Zinc Metal Update - Zinc futures fell by 1.28 per cent to Rs 100.40 per kg in futures trade today as speculators reduced positions in the midst of a weak trend overseas. Besides, low demand in domestic spot markets fuelled the downtrend. Zinc futures for November 2014 contract, at MCX, were trading at Rs 100.40 per kg, down by 1.28 per cent after opening at Rs. 100.90 against the previous closing price of Rs. 101.70. It touched the intra-day low of Rs. 98.65 till the trading.

 

However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 1375 metric tonnes to 549525 metric tonnes as on November 23, 2014.
 

Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.

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Strong Physical Demand, US outlook Lifts Zinc

Free commodity tips - Zinc futures advanced in the local market on Thursday as investors and speculators booked fresh positions in the industrial metal amidst a pickup in demand in the domestic spot market.
 

A regional manufacturing gauge in the US rebounded in November following two negative readings, lifting the demand outlook for the metal in the world’s biggest economy. The Philadelphia Manufacturing Index stood at 1.9 in November, compared to -4.5 in October, with a reading above o signaling expansion.
 

At the MCX, Zinc futures for November 2015 contract closed at Rs 100.45 per kg, up by 0.60 per cent after opening at Rs 99.25, against the previous closing price of Rs 99.85. It touched the intra-day high of Rs 100.65.

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Zinc futures Tumbled by more than 1 % in the Domestic Market

Zinc  futures tumbled by more than 1%cent in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid Slow physical demand for zinc from the domestic spot market, while a worsening factory slump in China, the world’s biggest metals consumer darkened the demand outlook for the metal.


China’s official factory PMI contracted in October, coming in at 49.8, unchanged from September, with a reading below 50 signaling contraction, while a private manufacturing gauge shrank for an eighth month on the trot, signaling a worsening slowdown in the world’s second biggest economy. The China’s Caixin manufacturing index stood at 48.3 in Octr, remaining well below the neutral 50-mark.


Investors cast aside robust Euro area factory data which showed that the manufacturing sector in the 19-member economy accelerated in October as the region’s factory gauge picked up to 52.3 from 52 in September.


At the MCX, Zinc futures for November 2015 contract closed at Rs 110.4 per 1 kg, down by 1.25 per cent after opening at Rs 111.75, against the previous closing price of Rs 111.8. It touched the intra-day low of Rs 110.15.


 

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Zinc futures Ended lower in the Domestic Market

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

Lingering worries over the demand outlook from China, the world’s biggest metals consumer, also weighed on Zinc. The surprise interest rate cut undertaken by the People’s Bank of China late Friday signaled that the country’s economy was in much bad shape as previously thought, signaling the gloomy demand outlook for base metals. The world’s second biggest economy grew at 6.9 per cent in the September quarter, the slowest pace since the global financial crisis, and below the 7 per cent official target for 2015.
 

At the MCX, Zinc futures for October 2015 contract closed at Rs 112.05 per 1 kg, down by 0.31 per cent after opening at Rs 112.2, against the previous closing price of Rs 112.4. It touched the intra-day low of Rs 110.95.


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Zinc Soars Nearly 10% on Supply concerns in Domestic Market

Zinc futures spiked by almost 10 per cent in the domestic market on Friday tracking a bullish trend in the overseas market as investors and speculators booked fresh positions in the industrial metal after Glencore said that it would slash global zinc production.
 

The Switzerland-based Glencore announced that it will cut its annual zinc output by about 500,000 metric tons as it undertakes mine closures to reduce debt and restore its balance sheet, triggering a buying spree in the metal with traders fearing a supply shortage.  

A pickup in physical demand for Zinc in the domestic spot market also bolstered the industrial metal.
 

At the MCX, Zinc futures for October 2015 contract closed at Rs 119.15 per 1 kg, up 9.82 per cent after opening at Rs 109.3, against the previous closing price of Rs 108.5. It touched the intra-day high of Rs 120.75.

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Zinc In High Gear Despite China fears

Zinc futures marked a bullish finish in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid firm physical demand for Zinc in the domestic spot market.A mild rebound in a regional US factory gauge signaled easing concerns over a manufacturing slowdown in the world’s biggest economy, brightening the demand outlook for industrial metals. The gauge measuring factory production in Dallas climbed to 0.9 in September from -0.8 in August, with a reading above 0 signaling expansion.However, the gains in the metal were curbed by fears that a worsening slowdown in China, the world’s second biggest metals consumer, may cap demand for Zinc. Industrial profits in China nosedived 8.8 % , year on year in Aug 2015, worsening from a 2.9 per cent drop in July 2015, signaling deepening woes of the world’s second biggest economy.

At the MCX, Zinc futures for September 2015 contract closed at Rs 107.7 per kg, up by 0.56 per cent after opening at Rs 107.65, against the previous closing price of Rs 107.1. It touched the intra-day high of Rs 108.5.

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Zinc Futures Slipped in the Domestic Market

 

Zinc futures slipped in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for Zinc in the domestic spot market.

Further, a worsening equity rout in China, with the country’s stocks sliding over 2.5 per cent on Monday amid speculation that state-backed funds had ceased buying, threatened to signal deep-rooted problems in the world’s biggest metals consumer, clouding the demand prospects for zinc. Meanwhile, China cut its economic growth rate for 2014 to 7.3 per cent from 7.4 per cent reported earlier.

However, an uptick in German industrial output by 0.7 per cent in July signaled a pickup in Europe’s biggest economy, trimming losses in the base metal.

At the MCX, Zinc futures for September 2015 contract closed at Rs 118.70 per 1 kg, down by 0.75 per cent after opening at Rs 120.10, against the previous closing price of Rs 119.60. It touched the intra-day low of Rs 118.60.
on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for Zinc in the domestic spot market.
 

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Zinc futures plunged by more than 3 % in Market

Zinc futures plunged by more than 3 per cent in the domestic market on Wednesday as investors and speculators cut risky bets in the industrial metal as markets in China extended the steepest five-day slump since 1996, sinking 1.3 per cent as further stimulus measures from the People’s Bank of China failed to arrest a USD 5 trillion equity rout.
 

Fears that the China equity turmoil may spread to other parts of the world’s second biggest economy clouded the demand outlook for the industrial metal, given that China is the world’s biggest metals consumer. The People’s Bank of China on Tuesday cut interest rates by 25 basis points, the fifth reduction since last November, while the bank reserve ratio was slashed by 50 basis points.Weak physical demand for Zinc in the domestic spot market also dampened sentiment.
 

At the MCX, Zinc futures for August 2015 contract closed at Rs per 111.10 per 1 kg, down by 3.31 per cent after opening at Rs 114.40, against the previous closing price of Rs 114.90. It touched the intra-day low of Rs 110.60.

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Zinc futures tanked nearly 1.6 % in Domest Market

 

Zinc futures tanked nearly 1.6 per cent in the domestic market on Monday as investors and speculators exited positions in the industrial metal as worsening economic slowdown in China, the world’s biggest metals consumer threatened to cut demand for Zinc.
 

China’s stocks which crashed 11 per cent last week tumbled 8.5 per cent on Monday, registering their biggest one-day drop since 2007 as traders were left disappointed from a lack of fresh measures over the weekend to support equities. The China stock market crash threatened to spread to other parts of the world’s second biggest economy, darkening the demand outlook for Zinc. China’s factory slump worsened in August with manufacturing activity contracting at the fastest pace in 77 months.Weak physical demand for Zinc in the domestic spot market also forced investors to cut risky bets in the industrial metal.
 

At the MCX, Zinc futures for August 2015 contract closed at Rs per 115.75 per 1 kg, down by 1.57 per cent after opening at Rs 117.50, against the previous closing price of Rs 117.60. It touched the intra-day low of Rs 114.35.

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Weekly MCX Gold, Silver, Copper, Crude, Natural Gas Commodity report

GOLD DROPS MORE THAN 1 PERCENT ON EURO ZONE DEBT HOPES.
CRUDE OIL ADVANCES A SECOND DAY IN LONDON ON EUROPEAN SUPPORT FOR GREECE.
COPPER RISES AFTER LEADERS REASSURE ON GREECE.
DOMESTIC OIL AND OILSEED TRADE LOW.

COMEX Gold is in an upward consolidation phase. In the coming week 1750$ will act as a major support in COMEX Gold and 1920$ will act as a major resistance.

STRATEGY
For the next week MCX Gold above 284000 it can test the level of 28200/28450/28700 and Below 27300 in MCX it can test the level of 27150/27000/26850. Trade by keeping the strict stop losses.

Major support in MCX Gold is 26500 and 25200
Major resistance in MCX Gold is 28700 and 29000

MARKET OVERVIEW
COMEX Silver is in a consolidation phase. In MCX Silver 68000 and 70000 will act as major resistance and 60000 and 58000 will act as major supports.

For the next week MCX Silver sustains above 63500 above it can test the level of 65700/66300/67000 and above 67500 it can test the level of 70500.

MARKET OVERVIEW
Copper is in a consolidation phase and traders should use the strategy of sell on higher levels. In MCX Copper sustains below 409 then it can test the level of 403/397 if it does not break the level of 416 on the upside.

MARKET OVERVIEW
NYMEX Crude is in consolidation phase. In MCX Crude Oil major resistance is found at 4300 and 4420 and major supports will be 3750 and 3550.

STRATEGY
For the next week MCX Crude sustains above 4100 then above 4250 it can test the level of 4320/4360/4390 in this week. Trade by keeping the proper stop loss.
For MCX Copper major resistance would be 422 and 430 and supports would be found at 400 and 385.

MARKET OVERVIEW
For MCX Natural Gas major resistance would be 194 and 205, supports would be found at 165 and 154.

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NCDEX Agri Commodity Market Updates | MCX Trading Tips

Zinc  and  Lead  witnessed  steady  upside  last  month  amid  good  demand  from  China  and  rise  in  cancelled warrants in LME and artificial shortage created due to banks financial deals. But beginning  of august month proved full of turbulence as the meltdown in the global financial markets took toll on the base metals pack and they also crumbled under pressure. 

Precious metals are trading higher on COMEX today.
Base metals are trading lower on International bourses today.
Crude oil is trading marginally lower on NYMEX today.

Pepper and Guar Seed News:

Pepper futures have surged on Tuesday, supported by the rising demand ahead of the festive season. Guar Seed futures are trading lower on the NCDEX on report of good monsoon in the growing region.

FREE NCDEX commodity trading tips on mobile by SMS, ncdex agri commodity trading tips, ncdex agri commodity market report & news 

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