Mcx Commodity Market News : Morning Session - 26.08.2016
Free Mcx Commodity Trend Update ( Call - 9094047040)
Click Here & Register To Get 2 days Trial Tips
Join Our Whatsapp No : 9841986753
Keep Refresh for Fresh Tips
Pickup in demand lifts nickel futures by 0.58%
26/08/2016 10:45
NICKEL: UP Trend
Nickel futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators build up fresh positions amid surge in demand from alloy-makers at the domestic spot market. Further, an increase in domestic demand from alloy-makers at the domestic spot markets, supported the uptrend in nickel prices at futures trade. At the MCX, nickel futures for August 2016 contract is trading at Rs 660.50 per kg, up by 0.58 per cent, after opening at Rs 660, against a previous close of Rs 656.70. It touched the intra-day high of Rs 661.90 (at 10:42 hours).
Mentha oil futures up 0.56% on rise in demand
26/08/2016 10:42
MENTHAOIL: UP Trend
Mentha oil futures were trading higher during the morning trade in the domestic market on Friday as participants widened their bets in the agri-commodity amid increase in physical demand from major consuming industries for mentha oil in the domestic spot market. Further, an uptick in demand for mentha oil futures was attributed to widening of positions by traders in the spot market, supported prices of mentha oil at futures trade. At the MCX, mentha oil futures for August 2016 contract were trading at Rs 884 per kg, up by 0.56 per cent after opening at Rs 880.30, against the previous closing price of Rs 879.10. It touched the intra-day high of Rs 885.80 (at 10:42 hours).
Uptick in demand lifts cardamom futures by 1.83%
26/08/2016 10:39
CARDAMOM: UP Trend
Cardamom futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators build up fresh positions in the agri-commodity amid uptick in physical demand for cardamom in the domestic spot market. Further, tight stock positions on restricted supplies from producing regions, too supported the uptrend in domestic cardamom prices. At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,165.80 per kg, up by 1.83 per cent, after opening at Rs 1,140, against a previous close of Rs 1,144.90. It touched the intra-day high of Rs 1,174.80 (at 10:36 hours).
Industry advises Govt to relook Stainless Steel (QC) Order
26/08/2016 10:09
Major metals and stainless steel industries associations, have said that they have urged the Steel Ministry to have a relook at the Stainless Steel products Quality Control (QC) Order, 2016. As per reports, Industry bodies, Process Plant & Machinery Association of India (PPMAI) and the Metal and Stainless Steel Merchants Association (MASSMA) have said that the order do not cover over 60 per cent of most of the non-standard grades of stainless steel being produced and imported in the country. As per reports, the Stainless Steel Products QC Order makes it mandatory to register with the Bureau of Indian Standards (BIS) and prohibits manufacture, import, storage, sale and distribution of stainless steel products by trade and industry without such registration. Commenting on the issue, an industry official told the media, "More than 60 per cent of stainless steel produced in the country includes non-standard flat products not conforming to American Standards for Testing of Materials (ASTM) or any other international standard or local BIS standard." “Though the order seeks to ensure that the domestic and industrial users get quality products, however, over 60 per cent stainless steel (of 200 series with below 1 per cent Nickel) is used mostly by utensil makers, which is not covered under the QC Order or under IS Standards of BIS,” he added.
