Mcx Commodity Market News : Morning Session - 30.08.2016
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Oil falls after US stockpile build
31/08/2016 11:37
CRUDEOIL: DOWN TREND
Crude oil futures fell during morning trade in the domestic market on Wednesday as investors and speculators exit positions in the energy commodity after a bigger-than-expected rise in US crude oil stockpiles last week exacerbated concerns over a prolonged supply glut. The industry-funded American Petroleum Institute (API) reported that US crude oil supplies rose by 942,000 barrels in the week ended August 26, 2016. Analysts were expecting US crude oil inventories to rise by 600,000 barrels last week. The Energy Department will report separate US crude oil stockpiles data later on Wednesday. At the MCX, crude oil futures for September 2016 contract is trading at Rs 3,110 per barrel, down by 0.48 per cent, after opening at Rs 3,129, against a previous close of Rs 3,125. It touched the intra-day low of Rs 3,109 (at 11:00 AM).
Lead futures in reverse gear on muted demand
31/08/2016 10:42
LEAD: DOWN TREND
Lead futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators cut down their bets in the industrial metal due to sluggish physical demand for lead, from battery-makers, in the domestic spot market. Further, a fall in demand from battery-makers in the domestic spot market, influenced prices of lead at the domestic spot markets. At the MCX, lead futures for August 2016 contract is trading at Rs 125.50 per kg, down by 0.20 per cent, after opening at Rs 125.80, against a previous close of Rs 125.75. It touched the intra-day low of Rs 125.45 (at 10:41 hours).
Aluminium futures little changed on sluggish demand
31/08/2016 10:38
ALUMINIUM: DOWN TREND
Aluminium futures were little changed during the morning trade in the domestic market on Wednesday as participants were indulged in trimming their positions amidst muted physical demand for aluminium in the domestic spot market. Further, sluggish demand for aluminium at the domestic spot market was on the back of cut down of bets by participants in the spot markets, influenced aluminium prices at futures trade. At the MCX, aluminium futures for August 2016 contract is trading at Rs 108.20 per kg, down by 0.05 per cent, after opening at Rs 108.40, against a previous close of Rs 108.25. It touched the intra-day low of Rs 108.20 (at 10:37 hours).
Zinc futures slide on subdued demand
31/08/2016 10:34
ZINC: DOWN TREND
Zinc futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines amid fall in demand from consuming industries at the domestic spot markets. Further, a decline in demand for zinc at the domestic spot market was due to trimming of positions by traders in the spot markets, influenced zinc prices at futures trade. At the MCX, zinc futures for August 2016 contract is trading at Rs 155.25 per kg, down by 0.22 per cent, after opening at Rs 155.20, against a previous close of Rs 155.60. It touched the intra-day low of Rs 155.10 (at 10:33 hours).
Pickup in demand lifts nickel futures by 0.21%
31/08/2016 10:30
NICKEL: UPTREND
Nickel futures were trading higher during the morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions amid rise in demand from alloy-makers at the domestic spot market. Further, an increase in domestic demand from alloy-makers at the domestic spot market, supported the uptrend in nickel prices at futures trade. At the MCX, nickel futures for August 2016 contract is trading at Rs 656.80 per kg, up by 0.21 per cent, after opening at Rs 653, against a previous close of Rs 655.40. It touched the intra-day high of Rs 657.80 (at 10:25 hours).
Mentha oil futures up 0.14% on rising demand
31/08/2016 10:26
MENTHAOIL: UPTREND
Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday as participants build up fresh positions 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 889.20 per kg, up by 0.14 per cent after opening at Rs 888.40, against the previous closing price of Rs 888. It touched the intra-day high of Rs 891 (at 10:25 hours).
Muted demand drags cardamom futures by 0.64%
31/08/2016 10:21
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators cut down their bets in the agri-commodity amid slide in physical demand for cardamom in the domestic spot market. Further, sufficient stocks position amid rise in supplies from producing regions, influenced the downtrend in domestic cardamom prices. At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,140 per kg, down by 0.64 per cent, after opening at Rs 1,147.60, against a previous close of Rs 1,147.30. It touched the intra-day low of Rs 1,135 (at 10:20 hours).
