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 lower on soft physical demand
06/09/2016 15:52
LEAD: DOWN TREND
Lead futures fell during noon trade in the domestic market on Tuesday as investors and speculators exit positions in the industrial metal amid sluggish physical demand for lead, from battery-makers, in the domestic spot market.
However, the losses in lead were curbed by an improved demand outlook from China, the world’s biggest metals consumer, as a gauge measuring services in China climbed to 52.1 in August from 51.7 in July.
At the MCX, lead futures for September 2016 contract is trading at Rs 130.55 per kg, down by 0.27 per cent, after opening at Rs 130.30, against a previous close of Rs 130.90. It touched the intra-day low of Rs 129.9 (at 15:44 PM).
Pickup in demand lifts aluminium futures by 0.29%
06/09/2016 15:44
ALUMINIUM: UP TREND
Aluminium futures were trading higher during the evening trade in the domestic market on Tuesday as participants widened their bets amidst rise in physical demand for aluminium in the domestic spot market.
Further, pickup in demand for aluminium at the domestic spot market was mainly on account of 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 105.15 per kg, up by 0.29 per cent, after opening at Rs 105.10, against a previous close of Rs 104.85. It touched the intra-day high of Rs 105.75 (at 15:44 hours).
Nickel buoyed by improving demand outlook, supply fears
06/09/2016 15:36
NICKEL: UP TREND
Nickel futures surged by more than 1 per cent 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.
Further, signs of a pickup in the Chinese and German economy bolstered demand prospects as a gauge measuring services in China climbed to 52.1 in August from 51.7 in July while German factory orders rose 0.2 per cent in July.
Further, worries that shipments of nickel ore from Philippines may shrink by as much as 30 per cent amid a government crackdown on illegal mines and a cutback in production by some of the country’s firms in H1 2016, fueled fears of shortage of the metal and lifted prices.
At the MCX, nickel futures for September 2016 contract is trading at Rs 675 per kg, up by 1.17 per cent, after opening at Rs 670.7, against a previous close of Rs 667.2. It touched the intra-day high of Rs 677 (at 15:29 PM).
Crude oil futures zoom on Saudi-Russia pact
06/09/2016 15:20
CRUDEOIL: DOWN TREND
Crude oil futures were trading higher during the afternoon trade in the domestic market on Tuesday as investors and speculators widened their bets in the energy commodity after Saudi Arabia and Russia, two of the world’s top oil producers, agreed to establish a working group to monitor the oil market and formulate recommendations to promote stability.
Energy Ministers from the two countries are set to meet in Algeria in October and Vienna in November to hold discussions on how to cooperate under this new pact, with an output freeze remaining a favourable option.
The news comes as some relief to energy traders, easing fears of a supply glut in the fuel.
At the MCX, crude oil futures for September 2016 contract is trading at Rs 2,999 per barrel, up by 0.60 per cent, after opening at Rs 2,990, against a previous close of Rs 2,981. It touched the intra-day high of Rs 3,030 (at 15:18 hours).
Natural gas bears in control
06/09/2016 15:04
NATURALGAS: DOWN TREND
Natural gas futures fell during noon trade in the domestic market on Tuesday as investors and speculators exit positions in the energy commodity amid speculation that peak summer demand for the power plant fuel which is used to fire up air conditioners in the US, may be coming to an end.
Further, supplies remain adequate as total US gas storage remains 7 per cent higher than levels at this time a year ago and 9.8 per cent above the five-year average for this time of year.
At the MCX, Natural gas futures for September 2016 contract were trading at Rs 184.5 per mmbtu, down by 0.16 per cent, after opening at Rs. 184.2, against the previous closing price of Rs. 184.8. It touched the intra-day low of Rs. 183.5. (At 15:00 PM).
Silver little changed in noon trade
06/09/2016 14:55
SILVER: UP TREND
Silver futures were trading tad lower during noon trade in the domestic market on Tuesday as traders eyed the US Services PMI data which may offer a greater insight into the economy’s health after Friday’s below-par jobs data.
The US services index is likely to rise to 55.7 in August from 55.5 in July; the ISM may show later today.
Silver jumped in the overseas market amid reduced bets of a Fed September rate hike and a weaker dollar which bolstered the lure for the precious metal as an alternative asset. Weaker greenback makes silver cheaper for those holding other currencies, thus buoying demand.
Silver, a non-interest bearing asset, tends to benefit from lower interest rates. Employers in the US added 151,000 workers in August, compared to an upwardly revised 275,000 gain in July, against an expected 180,000 increase, making the case for the Fed to delay policy tightening for a few more months.
At the MCX, Silver futures for September 2016 contract closed at Rs 46,426, per 1 kg, down by 0.08 per cent after opening at Rs 46,465, against the previous closing price of Rs 46,463. It touched the intra-day low of Rs 46,341. (At 14:47 PM).
Improving China demand outlook buoys Copper
06/09/2016 14:00
COPPER: UP TREND
Copper futures rose during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal as signs of a pickup in the economy of China, the world’s biggest metals consuming nation, bolstered demand prospects.
A gauge measuring services in China climbed to 52.1 in August from 51.7 in July, with a reading above 50 signaling expansion.
German factory orders rebounded in July, up 0.2 per cent from June, when they fell 0.3 per cent.
At the MCX, copper futures for November 2016 contract is trading at Rs 312 per kg, up by 0.31 per cent, after opening at Rs 311.5, against a previous close of Rs 311.05. It touched the intra-day high of Rs 313.10. (at 13:57 PM).
Yellow metal little changed on Fed rate hike bets
06/09/2016 13:54
GOLD: UP TREND
Gold futures were little changed during the afternoon trade in the domestic market on Tuesday as investors and speculators build up fresh positions in the precious metal on dollar weakning amid increased expectations that the US Fed may not hike interest rates this year in the world’s biggest economy after weaker-than-expected figures for August US jobs growth.
Employers in the US added 151,000 workers in August, compared to an upwardly revised 275,000 gain in July, against an expected 180,000 increase.
Weaker greenback makes the yellow metal cheaper for those holding other currencies, thus rising demand.
At the MCX, gold futures for October 2016 contract is trading at Rs 30,992 per 10 grams, up by 0.02 per cent, after opening at Rs 30,995, against a previous close of Rs 30,985. It touched the intra-day high of Rs 31,025 (at 13:49 hours).
Bullion tad higher in noon trade
06/09/2016 13:51
BULLION: UP TREND
Gold futures were trading with slim gains during noon trade in the domestic market on Tuesday as traders awaited US services data for August which may offer further cues over the health of the world’s biggest economy and help dictate the timing of the next US Federal Reserve interest rate hike.
Below-par US jobs data released on Friday indicated that the US economy wasn’t strong enough for the Fed to hike interest rates this month, bolstering the lure for the yellow metal as a store of value. Employers in the US added 151,000 workers in August, compared to an upwardly revised 275,000 gain in July, against an expected 180,000 increase.
At the MCX, gold futures for October 2016 contract is trading at Rs 30,990 per 10 grams, up by 0.02 per cent, after opening at Rs 30,995, against a previous close of Rs 30,985. It touched the intra-day high of Rs 31,025 (at 13:46 PM)
Sluggish physical demand hits Mentha Oil
06/09/2016 13:08
MENTHAOIL: UP TREND
Mentha oil futures fell during noon trade in the domestic market on Tuesday as investors and speculators exit 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 higher physical arrivals from the major mentha oil producing regions also exerted downward pressure on prices.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 890 per kg, down by 0.53 per cent after opening at Rs 891.70, against the previous closing price of Rs 894.70. It touched the intra-day low of Rs 886.80 (at 13:04 PM).
Robust physical demand buoys Cardamom
06/09/2016 13:07
CARDAMOM: UP TREND
Cardamom futures rose nearly 1 per cent during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom from major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing regions in the country also pushed up cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,126 per kg, up by 0.94 per cent, after opening at Rs 1,105, against a previous close of Rs 1,115.50. It touched the intra-day high of Rs 1,140 (at 13:04 PM).
