Free Commodity News and Tips
Nickel traders shrug off Euro area weakness
05/07/2016 15:27
Nickel futures rose during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for nickel from alloy-makers in the domestic spot market.
Traders cast aside soft economic growth in the 19-member Euro area with the region’s private sector gauge standing unchanged at 53.1 in June from May, capping the weakest quarter of Q2 growth since end 2014. At the MCX, Nickel futures for July 2016 contract is trading at Rs 681.70 per kg
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Copper slips amid soft China data 05/07/2016 15:18
Copper futures fell during noon trade in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amid weak physical demand for copper in the domestic spot market.
Further, a continued economic slowdown in China, the world’s biggest metals consuming nation, dimmed the demand outlook for copper as a private sector gauge fell to 50.3 in June, down from 50.5 in May, signaling the weakest pace of expansion in four months.
At the MCX, Copper futures for August 2016 contract is trading at Rs 330.65 per kg
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Yellow metal loses sheen on dollar strengthening 05/07/2016 14:24
Gold futures were trading lower during the afternoon trade in the domestic market on Tuesday as investors trimmed their bets to book profits amid weak global trend.
Analysts said the drop in silver prices in futures trade attributed to a weak trend in overseas markets where dollar strengthened after five-day losses driven by fresh demand for the American unit from importers and banks, eroding demand for safe-haven assets.
At the MCX, gold futures for August 2016 contract is trading at Rs 31,690 per 10 grams
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White metal in reverse gear on profit-booking
05/07/2016 14:03
Reversing its last week winning streek, silver futures were trading lower during the afternoon trade in the domestic market on Tuesday as traders booked-profits at prevailing levels amid a weak trend in global markets.
Analysts said the decline in silver in futures trade attributed to a weak trend in global markets as the US dollar strengthened after five-day losses driven by fresh demand for the American unit from importers and banks amid weakness in domestic equities, eroding demand for safe-haven.
At the MCX, silver futures for July 2016 contract is trading at Rs 46,671 per 10 grams
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Soft physical demand weighs on Mentha Oil
05/07/2016 13:26
Mentha oil futures were trading in the red during noon trade in the domestic market on Tuesday as investors and speculators exited positions in the agri-commodity amid weak physical demand for Mentha Oil from major consuming industries in the domestic spot market.
Further, abundant supplies amid restricted physical arrivals from the major Mentha Oil producing regions also exerted downward pressure on domestic prices.
At MCX, Mentha oil futures for July 2016 contract, at MCX, were trading at Rs 831.60 per kg,
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Oil in reverse gear on uncertain demand outlook
05/07/2016 13:06
Crude oil futures retreated during noon trade in the domestic market on Tuesday as investors and speculators exited positions in the energy commodity amid fears that a slowing global economy may curb demand for the fuel.
Macro-economic risks may weigh on oil demand against the backdrop of a lingering China slowdown, feeble US recovery and a messy UK-EU divorce. Uncertainty plaguing financial markets may further exacerbate listless industrial growth trends worldwide.
At the MCX, Crude oil futures for July 2016 contract is trading at Rs 3,253 per barrel,
