Sluggish global demand drags down Copper futures
07/10/2014 16:14
Copper prices fell by 0.19 per cent on Tuesday at the domestic markets after the gauge measuring Euro area investor confidence fell to -13.7 this month from -9.8 in September, Sentix said signaling improving sentiment in the Euro area, dimming the demand outlook for the metal. At the MCX, copper futures for November 2014 contract were trading at Rs.415.45 per 1 kg, down by 0.19 per cent, after opening at Rs. 416.30 against the previous closing price of Rs. 416.25. It touched the intra-day low of Rs. 414.60 till the trading. (At 4.10 PM today). Sentiment weakened further after the World Bank cut China’s economic growth forecast for 2014 and 2015 to 7.4 per cent and 7.2 per cent, respectively, from 7.6 per cent and 7.5 per cent previously.
Copper prices fell by 0.19 per cent on Tuesday at the domestic markets after the gauge measuring Euro area investor confidence fell to -13.7 this month from -9.8 in September, Sentix said signaling improving sentiment in the Euro area, dimming the demand outlook for the metal. At the MCX, copper futures for November 2014 contract were trading at Rs.415.45 per 1 kg, down by 0.19 per cent, after opening at Rs. 416.30 against the previous closing price of Rs. 416.25. It touched the intra-day low of Rs. 414.60 till the trading. (At 4.10 PM today). Sentiment weakened further after the World Bank cut China’s economic growth forecast for 2014 and 2015 to 7.4 per cent and 7.2 per cent, respectively, from 7.6 per cent and 7.5 per cent previously.
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Strong overseas trend lifts Lead futures
07/10/2014 15:39
Lead prices rose by 0.85 per cent on Tuesday at the domestic markets as a result of high demand for the commodity from battery-maker in the spot market in the midst of strong overseas trend. At the MCX, Lead futures, for the October 2014 contract, is trading at Rs 129.85 per kg, up by 0.23 per cent, after opening at Rs 129.55, against a previous close of Rs 129.55. It touched an intra-day high of Rs 130.45 till the trading. (At 3.36 PM today). However, gains were curbed after the World Bank cut China’s economic growth forecast for this year and the next, dimming the demand outlook for lead in the world’s biggest metals consumer.
07/10/2014 15:39
Lead prices rose by 0.85 per cent on Tuesday at the domestic markets as a result of high demand for the commodity from battery-maker in the spot market in the midst of strong overseas trend. At the MCX, Lead futures, for the October 2014 contract, is trading at Rs 129.85 per kg, up by 0.23 per cent, after opening at Rs 129.55, against a previous close of Rs 129.55. It touched an intra-day high of Rs 130.45 till the trading. (At 3.36 PM today). However, gains were curbed after the World Bank cut China’s economic growth forecast for this year and the next, dimming the demand outlook for lead in the world’s biggest metals consumer.
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Decline in supply lifts Mentha oil futures
07/10/2014 14:33
Mentha oil prices rose by 1.34 per cent on Tuesday at the Multi Commodity Exchange (MCX) due to tight stocks position in the physical market due to restricted arrivals from producing belts. At MCX, Mentha oil futures for October 2014 contract, at MCX, were trading at Rs. 679.70 per kg, up by 1.34 per cent after opening at Rs. 673.70 against the previous closing price of Rs. 670.70. It touched the intra-day high of Rs. 686 till the trading. (At 2.32 PM today). Sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh. About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana
07/10/2014 14:33
Mentha oil prices rose by 1.34 per cent on Tuesday at the Multi Commodity Exchange (MCX) due to tight stocks position in the physical market due to restricted arrivals from producing belts. At MCX, Mentha oil futures for October 2014 contract, at MCX, were trading at Rs. 679.70 per kg, up by 1.34 per cent after opening at Rs. 673.70 against the previous closing price of Rs. 670.70. It touched the intra-day high of Rs. 686 till the trading. (At 2.32 PM today). Sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh. About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana
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Chana gains on account of high demand
07/10/2014 12:44
Chana prices rose 0.11 per cent on Tuesday 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 November 2014 contract was trading at Rs. 2,860 per quintal, up by 0.11 per cent, after opening at Rs. 2,853 against the previous closing price of Rs. 2,857. It touched the intra-day high of Rs. 2,873 till the trading. (At 12.20 PM today). 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.
07/10/2014 12:44
Chana prices rose 0.11 per cent on Tuesday 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 November 2014 contract was trading at Rs. 2,860 per quintal, up by 0.11 per cent, after opening at Rs. 2,853 against the previous closing price of Rs. 2,857. It touched the intra-day high of Rs. 2,873 till the trading. (At 12.20 PM today). 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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Castorseed dips on upbeat production prospects
07/10/2014 11:50
Castorseed prices fell by 1.55 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for October 2014 contract was trading at Rs. 4,448 per quintal tonnes, down by 1.55 per cent, after opening at Rs. 4,512 against the previous closing price of Rs. 4,518. It touched the intra-day low of Rs. 4,425 till the trading. (At 11.45 AM today). Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil.
07/10/2014 11:50
Castorseed prices fell by 1.55 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for October 2014 contract was trading at Rs. 4,448 per quintal tonnes, down by 1.55 per cent, after opening at Rs. 4,512 against the previous closing price of Rs. 4,518. It touched the intra-day low of Rs. 4,425 till the trading. (At 11.45 AM today). Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil.
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Weak China demand outlook weighs on Copper
07/10/2014 11:25
Copper futures were trading on a subdued note in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after the World Bank cut China’s economic growth forecast for this year and the next, dimming the demand outlook for copper in the world’s biggest metals consumer. The World Bank cut China’s economic growth forecast for 2014 and 2015 to 7.4 per cent and 7.2 per cent, respectively, from 7.6 per cent and 7.5 per cent previously. At the MCX, copper futures for November 2014 contract is trading at Rs. 416.55 per 1 kg, up by 0.07 per cent, after opening at Rs. 416.30, against the previous closing price of Rs. 416.25. It touched an intra-day high of Rs. 416.70. (At 11:11 AM).
07/10/2014 11:25
Copper futures were trading on a subdued note in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the industrial metal after the World Bank cut China’s economic growth forecast for this year and the next, dimming the demand outlook for copper in the world’s biggest metals consumer. The World Bank cut China’s economic growth forecast for 2014 and 2015 to 7.4 per cent and 7.2 per cent, respectively, from 7.6 per cent and 7.5 per cent previously. At the MCX, copper futures for November 2014 contract is trading at Rs. 416.55 per 1 kg, up by 0.07 per cent, after opening at Rs. 416.30, against the previous closing price of Rs. 416.25. It touched an intra-day high of Rs. 416.70. (At 11:11 AM).
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Stronger greenback drags down bullion
07/10/2014 11:24
Gold futures fell marginally in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the precious metal tracking a weak trend in the overseas market as a stronger dollar curbed the demand for the yellow metal as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,714 per 10 grams, down by 0.03 per cent, after opening at Rs. 26,657, against the previous closing price of Rs 26,721. It touched an intra-day low of Rs 26,641. (At 11:07 AM).
07/10/2014 11:24
Gold futures fell marginally in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the precious metal tracking a weak trend in the overseas market as a stronger dollar curbed the demand for the yellow metal as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,714 per 10 grams, down by 0.03 per cent, after opening at Rs. 26,657, against the previous closing price of Rs 26,721. It touched an intra-day low of Rs 26,641. (At 11:07 AM).
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Flat trade in oil futures ahead of supplies data
07/10/2014 11:23
Crude oil futures fell in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the energy commodity ahead of US weekly inventory data which may signal waning fuel demand in the world’s biggest oil consumer. US crude oil stockpiles may have risen by 2 million barrels last week, the EIA may say tomorrow. However, a pickup in US job growth last month bolstered the demand outlook for the fuel as robust American consumer finances boost discretionary spending. At the MCX, Crude Oil futures, for the October 2014 contract, is trading at Rs 5,562 per barrel, up by 0.11 per cent, after opening at Rs 5,548, against a previous close of Rs 5,556. It touched an intra-day high of Rs 5,570. (At 11:02 AM).
07/10/2014 11:23
Crude oil futures fell in the domestic market on Tuesday as investors and speculators stayed cautious over booking fresh positions in the energy commodity ahead of US weekly inventory data which may signal waning fuel demand in the world’s biggest oil consumer. US crude oil stockpiles may have risen by 2 million barrels last week, the EIA may say tomorrow. However, a pickup in US job growth last month bolstered the demand outlook for the fuel as robust American consumer finances boost discretionary spending. At the MCX, Crude Oil futures, for the October 2014 contract, is trading at Rs 5,562 per barrel, up by 0.11 per cent, after opening at Rs 5,548, against a previous close of Rs 5,556. It touched an intra-day high of Rs 5,570. (At 11:02 AM).
