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 updates & free stock tips for traders

Today, prices of Copper went high by 1.05 per-cent after the number of unemployed people in Germany fell more than estimated in Jan month, while the unemployment rate striked an all-time low indicating improving labor market in the region which increased the requirement outlook for the metal.Feb 2016 contract for copper futures were trading near Rs.313.40 per 1 kg, up by 1.05 per-cent, after unlocking at Rs. 309.50 as compared to previous ended price of Rs. 310.15.

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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 prices Rose by 1.21 percent on Thursday

 

Copper prices rose by 1.21 per cent on Thursday as weak China inflation data reinforced views that Beijing will roll out fresh support measures soon for the world's second largest economy. Government data released earlier showed that Chinese producer prices fell by a more-than-expected 5.9 per cent in August, the 42nd straight monthly decline and the worst reading since October 2009. At the MCX, copper futures for November 2015 contract were trading at Rs. 367.50 per 1 kg, up by 1.21 per cent, after opening at Rs. 362.15 against the previous closing price of Rs. 363.30. It touched the intra-day high of Rs. 368 till the trading. (At 4.30 PM today). Sentiment improved further due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 2550 metric tonnes to 344300 metric tonnes as on September 10, 2015.

 

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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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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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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 tips and News for 9 June 2015

Mcx commodity tips : Maize prices ended lower by 2.87 per cent on Monday 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 the NCDEX, maize futures for June 2015 contract closed at Rs. 1,116 per quintal, down by 2.87 per cent, after opening at Rs. 1,140 against the previous closing price of Rs. 1,149. It touched the intra-day low of Rs. 1,116.

Mustard Seed prices closed lower by 2.55 per cent on Monday 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 June 2015 contract closed at Rs. 4,081 per quintal, down by 2.55 per cent, after opening at Rs. 4,188 against the previous closing price of Rs. 4,188. It touched the intra-day low of Rs. 4,047.

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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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MCX COMMODITY TIPS FOR 10 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 on Wednesday 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.

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DAILY MCX COMMODITY UPDATE FOR 08 JAN 2014

Precious Metals
GOLD  SILVER
                                                          D A I L Y B U Z Z
Gold prices declined by Rs 200 to Rs 30,160 per ten grams in the national capital today on selling by stockists against sluggish demand.

However, silver found some low level buying support and recovered by Rs 120 to Rs 45,350 per kg. It had lost Rs 270 in the previous two sessions.

Traders said stockists selling against sluggish demand mainly led to decline in gold prices.

At the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 200 each to Rs 30,160 and Rs 29,960 per ten grams, respectively. Sovereign remained steady at Rs 25,100 per piece of eight grams.

On the other hand, silver ready recovered by Rs 120 to Rs 45,350 per kg and weekly-based delivery by a similar margin to Rs 45,500 per kg.

Silver coins continued to be asked at last level of Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

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.

Agro Outlook
CHANA DHANIYA 
                                                     D A I L Y B U Z Z
Chana prices moved down by 0.82 per cent to Rs 3,017 per quintal in futures trading today as participants trimmed positions, triggered by increased supplies from producing regions against
subdued demand.

At the National Commodity and Derivative Exchange, chana for delivery in January moved down
by Rs 25, or 0.82 per cent, to Rs 3,017 per quintal with an open interest of 56,690 lots. Similarly,
the commodity for delivery in February lost Rs 21, or 0.68 per cent, to Rs 3,078 per quintal in
66,030 lots.

Refined soya oil remained weak for the second day and prices shed 0.56 per cent to Rs 682.50
per 10 kg in futures market today as speculators reduced positions following sluggish demand in
the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in January
fell further by Rs 3.85, or 0.56 per cent, to Rs 682.50 per 10 kg with an open interest of 34,140
lots.

Similarly, the oil for delivery in February declined by Rs 3.75, or 0.55 per cent, to Rs 675.60 per

10 kg in 1,24,140.

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RESEARCH VIA DAILY COMMODITY REPORT FOR 13-12-13

Precious Metals

SILVER  GOLD

                                                      D A I L Y B U Z Z

Gold prices fell by Rs 110 to Rs 31,040 per ten grams in the national capital today on profitselling by stockists at existing higher levels amid a weak global trend.

However, silver gained for the third straight day by adding Rs 60 to Rs 45,060 per kg on increased offtake by industrial units and coin makers.

Traders said profit-selling by stockists at existing higher levels amid a weak global trend as congressional negotiators reached a US budget agreement, curbing the appeal of the metal as a safe haven, mainly influenced gold prices.

Gold in New York, which normally sets price trend on the domestic front, fell by 0.3 per cent to USD 1,257.20 an ounce last night.

On the domestic front, gold of 99.9 and 99.5 per cent purity fell by Rs 110 each to Rs 31,040 and Rs 30,840 per ten grams, respectively. It had gained Rs 425 yesterday. Sovereign held steady at Rs 25,300 per piece of eight gram. On the other hand, silver ready rose by Rs 60 to Rs 45,060 per kg and weekly-based delivery by similar margin to Rs 45,660 per kg. The white metal had gained Rs 1,530 in the previous two sessions.

Silver coins continued to be asked at last level of Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

Base Metals & Energy

COPPER  CRUDE OIL

                                                     D A I L Y B U Z Z

Nickel prices moved up by 0.65 per cent to Rs 872.30 per kg in futures trade today as speculators 

created fresh positions, supported by rising demand from alloy-makers in the spot market amid a firm 

global trend.

At the Multi Commodity Exchange, nickel for delivery in December rose by Rs 5.60, or 0.65 per cent, to Rs 872.30 per kg in a business turnover of 6,722 lots.

Similarly, the metal for delivery in January moved up by Rs 4.50, or 0.51 per cent, to Rs 879.50 per kg in 614 lots.

Analysts attributed the rise in nickel futures to a firm global trend as major smelters in Japan plan to 

seek alternative ore supplies amid mounting concerns over Indonesian shipments.

Meanwhile, nickel for delivery in three months gained one per cent to $14,175 a tonne on the London 

Metal Exchange. 

Agro Outlook

CHANA  DHANIYA

                                                D A I L Y B U Z Z

Mentha oil prices extended gains by adding 0.38 per cent to Rs 3.20 per kg in futures trade today on the back of increased domestic as well as exports demand.

Besides, reports of lower output this season also influenced the prices, traders said.

At the Multi Commodity Exchange, Mentha oil for delivery in December rose by Rs 3.20, or 0.38 per cent, to Rs 841 per kg, clocking a business volume of 256 lots. The oil for January contract traded higher by Rs 3, or 0.35 per cent, to Rs 852.90 per kg, with a trading volume of 61 lots.Potato prices fell by 1.19 per cent to Rs 913 per quintal in futures trade today as speculators offloaded their positions due to low demand in spot markets.

The trading sentiment weakened further as a result of easy availability of potato in the spot markets following fresh arrivals from producing regions.

At the Multi Commodity Exchange, potato prices for April contract fell by Rs 11, or 1.19 per cent, to Rs 913 per quintal, with a business volume of 24 lots.

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