MCX Base Metal Tips: Lead Bulls rule the roost

MCX Base Metal Tips: Lead futures jumped 2 per cent during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for lead, from battery-makers in the domestic spot market.

Stabilization in China’s exports and imports signaled an improved demand outlook in the economy of the world’s biggest metals consuming nation.

China’s exports fell by 4.1per cent in dollar terms, year on year, in May 2016, against an estimated drop by analysts of 6.8 per cent.

At the MCX, Lead futures, for the June 2016 contract, is trading at Rs 115.9 per kg, up by 2.02 per cent, after opening at Rs 113.65, against a previous close of Rs 113.6. It touched an intra-day high of Rs 116.

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MCX Base Metal Tips: Firm physical demand buoys Zinc

MCX Base Metal Tips: Zinc futures jumped during noon trade in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.

Traders shrugged off a plunge in German factory orders in April which raised concerns over the growth outlook in Europe’s biggest economy. Bookings for German factory shipments tumbled by 2 per cent in April from the previous month led by a drop in investment demand from outside the 19-member Euro area.

Zinc futures for June 2016 contract, at MCX, were trading at Rs 134.55 per kg, up by 0.67 per cent after opening at Rs. 134.65, against the previous closing price of Rs. 133.65. It touched the intra-day high of Rs. 135.25 till the trading.

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DAILY COMMODITY SILVER & CARDAMOM REPORT 21 AUG 2014

Precious Metals

D A I L Y B U Z Z

SILVER 

Silver prices were up by Rs 98 to Rs 43,089 per kg in futures trade today as participants created speculative positions on a firming trend in the precious metal overseas. 

At the Multi Commodity Exchange, silver for delivery in December traded higher by Rs 98, or 0.23 per cent, to Rs 43,089 per kg in a business turnover of 91 lots. 

On similar lines, the metal for delivery in September traded higher by Rs 70, or 0.17 per cent, to Rs 42,310 per kg in a turnover of 1,533 lots. 

In the international market, silver added 0.26 per cent to trade at $ 19.45 an ounce in 

Singapore. 

Market analysts attributed the gains in silver prices at futures trade to a firming trend overseas.

Agro Outlook 

D A I L Y B U Z Z 

CARDAMOM 

Cardamom prices edged higher by 0.71 per cent to Rs 953 per kg in futures trading today as speculators engaged in creating positions amid rising demand in the spot market. 

Besides, tight supplies in the physical market from producing belt further fuelled the uptrend. 

At the Multi Commodity Exchange, cardamom for delivery in October rose by Rs 6.70, or 0.71 

per cent , to Rs 953 per kg in a business turnover of 22 lots. 

Similarly, the spice for delivery in September gained Rs 5.30, or 0.55 per cent, to Rs 962 per kg in 156 lots. 

Market analysts said speculators enlarging positions on the back of rising demand in the spot markets kept cardamom prices higher at futures trade. 

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