Nickel futures fell during noon trade With Weak Physical Demand

 

Base Metal tips -  Nickel futures fell during noon trade in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for nickel from alloy-makers in the domestic spot market.
 

Weak US economic data which showed that jobless claims rose last week and services growth hit a six-month low in November, signaled a slowdown in the world’s biggest economy also threatened to curb demand for the industrial metal.
 

The number of Americans who filed for claiming unemployment insurance benefits climbed 9,000 to 269,000 in the week ended November 28, while the gauge measuring US services fell the most in seven years, dropping to 55.9 in November from 59.1 in October, with a reading above 50 signaling expansion.
 

At the MCX, Nickel futures for December 2015 contract were trading at Rs 594.20 per 1 kg, down by 0.15 per cent, after opening at Rs. 594.6, against the previous closing price of Rs. 595.1. It touched an intraday low of 592.3.

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Base Metals & Energy For 17 June 2015

Gold futures succumbed to modest losses in the domestic market on Tuesday as investors and speculators stuck to a cautious approach as the US Federal Reserve began a two-day monetary policy meet. While the world’s top central bank is expected to stick to record low interest rates, it may offer some cues over the timing for a maiden lift-off since 2006. Being a hedge against the inflationary risk of monetary fillips, Gold tends to benefit from ultra-easy money policies from global central banks. A stronger dollar also curbed the demand for the bullion as an alternative asset. Stronger greenback makes Gold more expensive for those holding other currencies, thus dimming demand. Lingering worries over Greece as the cash strapped nation scrambles to reach a debt compromise with its creditors continued to support Gold’s safe haven appeal, trimming losses in Gold. Bullion may continue to trade on a subdued today as the Fed announces its monetary policy decision. At the MCX, Gold futures for June 2015 contract closed at Rs 26,956 per 10 gram, down by 0.27 after opening at Rs 27,011, against the last closing price of Rs 27,029. It touched the intra-day low of Rs 26,869 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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Base Metals & Energy Updates For 18 May 2015

ZINC

Zinc futures tumbled in the domestic market on Thursday, shedding more than 2.4 per cent, as investors and speculators sold off positions in the industrial metal amid tepid physical demand for zinc in the domestic spot market. Moreover, fears that a deepening economic slowdown in China, the world’s biggest consumer of the base metal, may curb zinc demand also spooked investors. New yuan loans issued by Chinese banks and financial institutions stood at 707.9 billion yuan in April, trailing analysts’ estimates of 903 billion yuan, underscoring weakness in the world’s second biggest economy. Other April indicators were also poor as manufacturing shrank at the fastest pace in a year in April while exports and import tumbled, and growth in industrial output, fixed-asset investment, and retail sales numbers missed analysts’ estimates. At the MCX, Zinc futures for May 2015 contract closed at Rs 146.55 per 1 kg, down by 2.43 per cent after opening at Rs 149.85, against the previous closing price of Rs 150.20. It touched the intra-day low of Rs 146.30 till the closing.

NATURAL GAS

Natural Gas futures extended an advance in the domestic market on Friday as investors and speculators weighed a below than expected US stockpile-build last week, signaling a pickup in demand for the fuel which is used to fire up power plants as cooling demand rises during peak summer months. US gas stockpiles climbed by 111 billion cubic feet to 1.897 trillion cubic feet in the week ended May 8, 2015, compared to an estimated rise of 116 billion cubic feet by analysts. Further, forecasts for warmer than average weather in the US in the coming days also bolstered the demand outlook for the weather-sensitive fuel. At the MCX, Natural Gas futures for May 2015 contract is trading at Rs 191.10 per 1 kg, up by 0.26 per cent after opening at Rs 191.20, against the previous closing price of Rs 190.60. It touched the intra-day high of Rs 191.50. (At 13:01 PM).

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RESEARCH VIA MCX : BUY ZINC, CRUDE OIL, GOLD CALL & TARGET

REVIA MCX: BUY ZINC ABOVE 142 TGTS 142.40/142.90/143.50 SL141.60 
REVIA MCX: ZINC HIT 1ST TGT 142.40 BOOK PART PROFIT

REVIA MCX: BUY CRUDE OIL ABOVE 6232 TGTS 6252/6282/6322 SL6202
REVIA MCX: CRUDE OIL HIT 1ST TGT 6252 HIGH OF 6254 BOOK PART PROFIT

REVIA MCX: BUY GOLD ABOVE 27906 TGTS 27956/28036/28136 SL27856
REVIA MCX: GOLD HIT 1ST TGT 27956 HIGH OF 27963 BOOK PART PROFIT

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Mcx commodity tips: Zinc futures were trading higher 22 May 2015

Mcx commodity tips: Zinc futures were trading higher in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Further, a leading index for China signaled a pickup in growth in the world’s second biggest economy, lifting the demand outlook for zinc. The China leading index climbed 1.1 per cent in April from March, when it rose 0.5 per cent. At the MCX, Zinc futures for May 2015 contract is trading at Rs 139.85 per 1 kg, up by 0.11 per cent after opening at Rs 140.10, against the previous closing price of Rs 139.70. It touched the intra-day high of Rs 140.65.

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Domestic oil seed and edible oil close mix

Mcx commodity tips: Natural Gas traders exited positions in the energy commodity with prices of the weather-sensitive fuel ending lower by about 1 per cent in the domestic market on Tuesday amid concerns that an above normal supply build may erase a deficit to the five-year average. Analysts expect a 99 billion cubic feet uptick in US gas stockpiles last week, compared to a five-year average of 89 billion cubic feet. The EIA’s storage report is due on Thursday. However, weather forecasts remain supportive with above-normal temperatures across the eastern half of the US likely to bolster cooling demand for the fuel.

At the MCX, Natural Gas futures for May 2015 contract closed at Rs 189.7 per 1 kg, down by 0.99 per cent after opening at Rs 191.90, against the previous closing price of Rs 191.60. It touched the intra-day low of Rs 187.8 till the closing.

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