Mcx Commodity Market News: Evening Session - 16.9.2016
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Lead bears take control
16/09/2016 15:02
LEAD: DOWN TREND
Lead futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the industrial metal amid weak physical demand for lead from battery-makers in the domestic spot market.
Weak economic data from the US cast doubts over the outlook for metal demand in the world’s biggest economy as US industrial production fell 0.4 per cent in August from July, retail sales declined 0.3 per cent in the same period, while unemployment claims rose 1,000 to 260,000 last week.
At the MCX, lead futures for September 2016 contract is trading at Rs 129.35 per kg, down by 0.31 per cent, after opening at Rs 129.65, against a previous close of Rs 129.75. It touched the intra-day low of Rs 128.95 (at 15:00 PM).
Nickel quiet in noon trade
16/09/2016 14:20
NICKEL: DOWN TREND
Nickel futures were trading flat, with a negative bias in noon trade in the domestic market on Friday as investors stayed on the sidelines amid uncertainty over the demand outlook in the US, the world’s biggest economy.
Thursday’s US economic releases disappointed with industrial output and retail sales, two widely watched indicators, both suffering a drop in August, while jobless claims, a gauge of the health of the labour market, edging up by 1,000 last week.
The focus on Friday will be on US consumer price inflation for August and preliminary measure of US consumer sentiment in September.
At the MCX, nickel futures for September 2016 contract is trading at Rs 648.70 per kg, down by 0.03 per cent, after opening at Rs 649.50, against a previous close of Rs 648.90. It touched the intra-day low of Rs 645.6 (at 14:15 PM).
Silver in the red on central bank policy caution
16/09/2016 14:11
SILVER: DOWN TREND
Silver futures fell during noon trade in the domestic market on Friday as investors and speculators stayed cautious ahead of central bank meetings in US and Japan next week to gauge the health of the world economy and outlook for monetary policies in major economies.
After the Bank of England on Thursday kept policy unchanged but signaled scope of a further rate cut in November, the Fed will meet next week to decide whether to hike interest rates, while the Bank of Japan could bolster monetary stimulus and slash its key rate deeper into the negative terrain.
However, a fall in US industrial output and retail sales in August has eased speculation of a Fed rate hike next week.
At the MCX, silver futures for December 2016 contract closed at Rs 45,512 per kg, down by 0.28 per cent, after opening at Rs 45,540, against a previous close of Rs 45,638. It touched the intra-day low of Rs 45,381. (At 14:06 PM).
LME Inventories Data: Sep 16, 2016
16/09/2016 14:04
Copper stocks -225 MT to 349000, Aluminum Stocks -6050 MT to 2166925 MT, Nickel Stocks -840 MT to 366966 MT, Zinc Stocks -1125 MT to 444450 MT, Lead Stocks (0) MT to 187850MT.
Zinc slips on tepid US data
16/09/2016 14:00
ZINC: DOWN TREND
Zinc futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Further, factories in the US cut output by the most since March in August, while retail sales fell and jobless claims rose, signaling a slowdown in the world’s biggest economy, clouding the demand outlook for metals.
US manufacturing production fell 0.4 per cent in August from July, retail sales declined 0.3 per cent in the same period, while unemployment claims rose 1,000 to 260,000 last week.
At the MCX, zinc futures for September 2016 contract is trading at Rs 148.35 per kg, down by 0.30 per cent, after opening at Rs 148.55, against a previous close of Rs 148.80. It touched the intra-day low of Rs 148.20 (at 13:51 PM).
Improved China demand outlook buoys Copper
16/09/2016 13:42
COPPER: UPTREND
Copper futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid bets that a pickup in the Chinese economy may bolster demand.
China’s August industrial output and retail sales growth topped estimates while new loans at 948.7 billion yuan were more than double July’s figure, a sign that the slowdown in the world’s second biggest economy is stabilizing.
However, the gains in the industrial metal were curbed by tepid US economic data as industrial output fell 0.4 per cent in August while retail sales declined 0.3 per cent.
At the MCX, copper futures for November 2016 contract is trading at Rs 324.1 per kg, up by 0.25 per cent, after opening at Rs 323.2, against a previous close of Rs 323.3. It touched the intra-day high of Rs 324.25 (at 13:35 PM).
Gold lower on Fed meet caution
16/09/2016 13:09
GOLD: DOWN TREND
Gold futures fell during noon trade in the domestic market on Friday as investors and speculators stuck to a cautious stance ahead of next week’s US Federal Reserve policy meet in which the world’s top central bank will decide over whether to hike interest rates.
However, weak economic data has dimmed the odds of a near-term Fed rate hike, which will bolster the lure for the yellow metal as a store of value.
US industrial output fell 0.4 per cent in August from July as factory production declined, while retail sales fell 0.3 per cent last month, the first drop in five months.
At the MCX, gold futures for October 2016 contract ended at Rs 30,854 per 10 grams, down by 0.18 per cent, after opening at Rs 30,875, against a previous close of Rs 30,910. It touched the intra-day low of Rs 30,836. (At 13:03 PM).
Copper futures surge on China economic data
16/09/2016 13:05
COPPER: UPTREND
Copper futures were trading higher during the afternoon trade in the domestic market on Friday as investors and speculators widened their positions in the industrial metal amid signs that demand may improve in China, the world’s biggest metal consumer. Further, uptick in demand at the spot market followed by a firming trend in global markets as strong economic data from China fueled speculation that demand will strengthen in China, the world's largest metals consumer, supported copper prices at futures trade. At the MCX, copper futures for November 2016 contract is trading at Rs 323.9 per kg, up by 0.19 per cent, after opening at Rs 323.2, against a previous close of Rs 323.3. It touched the intra-day high of Rs 324.25 (at 12:51 hours).
Mentha Oil higher on demand pickup
16/09/2016 12:57
MENTHAOIL: UPTREND
Mentha oil futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing belts in the country also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract is trading at Rs 903.4 per kg, up by 0.27 per cent after opening at Rs 901.40, against the previous closing price of Rs 901. It touched the intra-day high of Rs 904.1 (at 12:47 PM).
Natural gas lower despite upbeat US storage data
16/09/2016 12:57
NATURALGAS: UPTREND
Natural gas futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the energy commodity even as US gas supplies rose less than expected last week, signaling improving demand in the world’s biggest gas consuming nation.
The EIA said that US gas supplies rose 62 billion cubic feet at 3.499 trillion cubic feet in the week ended September 9, below expectations for a 63 billion cubic feet rise. Stockpiles rose 74 billion cubic feet a year earlier with a five-year average build of 69 billion cubic feet.
At the MCX, Natural gas futures for September 2016 contract were trading at Rs 194.2 per mmbtu, down by 0.87 per cent, after opening at Rs. 194.9, against the previous closing price of Rs. 195.9. It touched the intra-day low of Rs. 194.1(At 12:51 PM).
Pickup in physical demand lifts Cardamom
16/09/2016 12:55
CARDAMOM: UPTREND
Cardamom futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing belts in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,229.8 per kg, up by 0.48 per cent, after opening at Rs 1,227.3, against a previous close of Rs 1,223.9. It touched the intra-day high of Rs 1,234.5 (at 12:44 PM).
Uptick in demand lifts lead futures by 0.35%
16/09/2016 12:44
LEAD: DOWN TREND
Lead futures were trading higher during the afternoon trade in the domestic market on Friday as investors and speculators widened their bets in the industrial metal due to upsurge in physical demand for lead from battery-makers in the domestic spot market.
Further, building up of fresh positions by traders amid rise in demand from battery-makers in the domestic spot market, supported lead prices at futures trade. At the MCX, lead futures for September 2016 contract is trading at Rs 130.20 per kg, up by 0.35 per cent, after opening at Rs 129.65, against a previous close of Rs 129.75. It touched the intra-day high of Rs 130.45 (at 12:43 hours).
Aluminium futures rise on pickup in demand
16/09/2016 12:37
ALUMINIUM: DOWN TREND
Aluminium futures were trading higher during the afternoon trade in the domestic market on Friday as participants widened their positions on uptick in physical demand for aluminium in the domestic spot market.
Further, an increase in demand for aluminium at the domestic spot market was attributed to building up of fresh bets by participants in the spot markets, supported aluminium prices at futures trade.
At the MCX, aluminium futures for September 2016 contract is trading at Rs 104.95 per kg, up by 0.48 per cent, after opening at Rs 104.40, against a previous close of Rs 104.45. It touched the intra-day high of Rs 105.20 (at 12:37 hours).
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
Lead bears take control
16/09/2016 15:02
LEAD: DOWN TREND
Lead futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the industrial metal amid weak physical demand for lead from battery-makers in the domestic spot market.
Weak economic data from the US cast doubts over the outlook for metal demand in the world’s biggest economy as US industrial production fell 0.4 per cent in August from July, retail sales declined 0.3 per cent in the same period, while unemployment claims rose 1,000 to 260,000 last week.
At the MCX, lead futures for September 2016 contract is trading at Rs 129.35 per kg, down by 0.31 per cent, after opening at Rs 129.65, against a previous close of Rs 129.75. It touched the intra-day low of Rs 128.95 (at 15:00 PM).
Nickel quiet in noon trade
16/09/2016 14:20
NICKEL: DOWN TREND
Nickel futures were trading flat, with a negative bias in noon trade in the domestic market on Friday as investors stayed on the sidelines amid uncertainty over the demand outlook in the US, the world’s biggest economy.
Thursday’s US economic releases disappointed with industrial output and retail sales, two widely watched indicators, both suffering a drop in August, while jobless claims, a gauge of the health of the labour market, edging up by 1,000 last week.
The focus on Friday will be on US consumer price inflation for August and preliminary measure of US consumer sentiment in September.
At the MCX, nickel futures for September 2016 contract is trading at Rs 648.70 per kg, down by 0.03 per cent, after opening at Rs 649.50, against a previous close of Rs 648.90. It touched the intra-day low of Rs 645.6 (at 14:15 PM).
Silver in the red on central bank policy caution
16/09/2016 14:11
SILVER: DOWN TREND
Silver futures fell during noon trade in the domestic market on Friday as investors and speculators stayed cautious ahead of central bank meetings in US and Japan next week to gauge the health of the world economy and outlook for monetary policies in major economies.
After the Bank of England on Thursday kept policy unchanged but signaled scope of a further rate cut in November, the Fed will meet next week to decide whether to hike interest rates, while the Bank of Japan could bolster monetary stimulus and slash its key rate deeper into the negative terrain.
However, a fall in US industrial output and retail sales in August has eased speculation of a Fed rate hike next week.
At the MCX, silver futures for December 2016 contract closed at Rs 45,512 per kg, down by 0.28 per cent, after opening at Rs 45,540, against a previous close of Rs 45,638. It touched the intra-day low of Rs 45,381. (At 14:06 PM).
LME Inventories Data: Sep 16, 2016
16/09/2016 14:04
Copper stocks -225 MT to 349000, Aluminum Stocks -6050 MT to 2166925 MT, Nickel Stocks -840 MT to 366966 MT, Zinc Stocks -1125 MT to 444450 MT, Lead Stocks (0) MT to 187850MT.
Zinc slips on tepid US data
16/09/2016 14:00
ZINC: DOWN TREND
Zinc futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Further, factories in the US cut output by the most since March in August, while retail sales fell and jobless claims rose, signaling a slowdown in the world’s biggest economy, clouding the demand outlook for metals.
US manufacturing production fell 0.4 per cent in August from July, retail sales declined 0.3 per cent in the same period, while unemployment claims rose 1,000 to 260,000 last week.
At the MCX, zinc futures for September 2016 contract is trading at Rs 148.35 per kg, down by 0.30 per cent, after opening at Rs 148.55, against a previous close of Rs 148.80. It touched the intra-day low of Rs 148.20 (at 13:51 PM).
Improved China demand outlook buoys Copper
16/09/2016 13:42
COPPER: UPTREND
Copper futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid bets that a pickup in the Chinese economy may bolster demand.
China’s August industrial output and retail sales growth topped estimates while new loans at 948.7 billion yuan were more than double July’s figure, a sign that the slowdown in the world’s second biggest economy is stabilizing.
However, the gains in the industrial metal were curbed by tepid US economic data as industrial output fell 0.4 per cent in August while retail sales declined 0.3 per cent.
At the MCX, copper futures for November 2016 contract is trading at Rs 324.1 per kg, up by 0.25 per cent, after opening at Rs 323.2, against a previous close of Rs 323.3. It touched the intra-day high of Rs 324.25 (at 13:35 PM).
Gold lower on Fed meet caution
16/09/2016 13:09
GOLD: DOWN TREND
Gold futures fell during noon trade in the domestic market on Friday as investors and speculators stuck to a cautious stance ahead of next week’s US Federal Reserve policy meet in which the world’s top central bank will decide over whether to hike interest rates.
However, weak economic data has dimmed the odds of a near-term Fed rate hike, which will bolster the lure for the yellow metal as a store of value.
US industrial output fell 0.4 per cent in August from July as factory production declined, while retail sales fell 0.3 per cent last month, the first drop in five months.
At the MCX, gold futures for October 2016 contract ended at Rs 30,854 per 10 grams, down by 0.18 per cent, after opening at Rs 30,875, against a previous close of Rs 30,910. It touched the intra-day low of Rs 30,836. (At 13:03 PM).
Copper futures surge on China economic data
16/09/2016 13:05
COPPER: UPTREND
Copper futures were trading higher during the afternoon trade in the domestic market on Friday as investors and speculators widened their positions in the industrial metal amid signs that demand may improve in China, the world’s biggest metal consumer. Further, uptick in demand at the spot market followed by a firming trend in global markets as strong economic data from China fueled speculation that demand will strengthen in China, the world's largest metals consumer, supported copper prices at futures trade. At the MCX, copper futures for November 2016 contract is trading at Rs 323.9 per kg, up by 0.19 per cent, after opening at Rs 323.2, against a previous close of Rs 323.3. It touched the intra-day high of Rs 324.25 (at 12:51 hours).
Mentha Oil higher on demand pickup
16/09/2016 12:57
MENTHAOIL: UPTREND
Mentha oil futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing belts in the country also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract is trading at Rs 903.4 per kg, up by 0.27 per cent after opening at Rs 901.40, against the previous closing price of Rs 901. It touched the intra-day high of Rs 904.1 (at 12:47 PM).
Natural gas lower despite upbeat US storage data
16/09/2016 12:57
NATURALGAS: UPTREND
Natural gas futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the energy commodity even as US gas supplies rose less than expected last week, signaling improving demand in the world’s biggest gas consuming nation.
The EIA said that US gas supplies rose 62 billion cubic feet at 3.499 trillion cubic feet in the week ended September 9, below expectations for a 63 billion cubic feet rise. Stockpiles rose 74 billion cubic feet a year earlier with a five-year average build of 69 billion cubic feet.
At the MCX, Natural gas futures for September 2016 contract were trading at Rs 194.2 per mmbtu, down by 0.87 per cent, after opening at Rs. 194.9, against the previous closing price of Rs. 195.9. It touched the intra-day low of Rs. 194.1(At 12:51 PM).
Pickup in physical demand lifts Cardamom
16/09/2016 12:55
CARDAMOM: UPTREND
Cardamom futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing belts in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,229.8 per kg, up by 0.48 per cent, after opening at Rs 1,227.3, against a previous close of Rs 1,223.9. It touched the intra-day high of Rs 1,234.5 (at 12:44 PM).
Uptick in demand lifts lead futures by 0.35%
16/09/2016 12:44
LEAD: DOWN TREND
Lead futures were trading higher during the afternoon trade in the domestic market on Friday as investors and speculators widened their bets in the industrial metal due to upsurge in physical demand for lead from battery-makers in the domestic spot market.
Further, building up of fresh positions by traders amid rise in demand from battery-makers in the domestic spot market, supported lead prices at futures trade. At the MCX, lead futures for September 2016 contract is trading at Rs 130.20 per kg, up by 0.35 per cent, after opening at Rs 129.65, against a previous close of Rs 129.75. It touched the intra-day high of Rs 130.45 (at 12:43 hours).
Aluminium futures rise on pickup in demand
16/09/2016 12:37
ALUMINIUM: DOWN TREND
Aluminium futures were trading higher during the afternoon trade in the domestic market on Friday as participants widened their positions on uptick in physical demand for aluminium in the domestic spot market.
Further, an increase in demand for aluminium at the domestic spot market was attributed to building up of fresh bets by participants in the spot markets, supported aluminium prices at futures trade.
At the MCX, aluminium futures for September 2016 contract is trading at Rs 104.95 per kg, up by 0.48 per cent, after opening at Rs 104.40, against a previous close of Rs 104.45. It touched the intra-day high of Rs 105.20 (at 12:37 hours).
