Mcx Commodity Market News : Morning Session - 30.9.2016
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Nickel futures fall on muted demand
30/09/2016 10:53
Nickel futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators remained on the sidelines in the industrial metal amid a fall in demand from consuming industries at the domestic spot markets. Further, participants cut down their bets in the industrial metal due to a decline in demand from consuming industries, influenced prices of zinc at futures trade. At the MCX, nickel futures for September 2016 contract is trading at Rs 692.20 per kg, down by 0.23 per cent, after opening at Rs 692.30, against a previous close of Rs 693.80. It touched the intra-day low of Rs 690.60 (at 10:48 hours).
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Mentha oil futures up on rising demand
30/09/2016 10:45
Mentha oil futures were trading higher during the morning trade in the domestic market on Friday as participants build up fresh positions in the agri-commodity amid an increase in physical demand for mentha oil from major consuming industries in the domestic spot market. Further, widening of positions by traders in the spot market led by upsurge in physical demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade. At the MCX, mentha oil futures for September 2016 contract were trading at Rs 852.30 per kg, up by 0.20 per cent after opening at Rs 852, against the previous closing price of Rs 850.90. It touched the intra-day high of Rs 854.90 (at 10:43 hours).
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Oil lower on profit booking
30/09/2016 10:42
Crude oil futures tanked 1 per cent during morning trade in the domestic market on Friday as investors and speculators resorted to profit taking in the energy commodity after stellar gains in the previous session when the OPEC announced a cut in output for the first time in eight years. The OPEC, a cartel which accounts for about 40 per cent of global crude supplies, at an informal meeting in Algiers on Wednesday, agreed in a preliminary deal to cut output to a range of 32.5 million to 33 million barrels per day, easing worries over a global supply glut, and spurring an over 4.4 per cent rally in domestic crude futures on Thursday. At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,172 per barrel, down by 1 per cent, after opening at Rs 3,190, against a previous close of Rs 3,204. It touched the intra-day low of Rs 3,172 (at 10:09 PM).
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Cardamom futures rise 0.75% on pick up in demand
30/09/2016 10:40
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 a surge in physical demand for cardamom in the domestic spot market. Further, insufficient supplies amid restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,136.10 per kg, up by 0.75 per cent, after opening at Rs 1,130, against a previous close of Rs 1,127.60. It touched the intra-day high of Rs 1,143.70 (at 10:37 hours).
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Ministry recommends anti-dumping duty on Chinese products
30/09/2016 10:01
The commerce ministry has said that it has suggested imposition of anti-dumping duty on imports of steel wire rods from China to guard the interest of domestic players from cheap in-bound shipments. In its initial findings, the directorate general of anti-dumping and allied duties (DGAD) has recommended the duty. As per reports, DGAD has suggested that for certain Chinese companies, the duty should be the difference between the landed value of the steel products and USD 499 per tonne while for others, it should be the gap between the landed value and USD 538 per tonne. As per reports, the duty was recommended on imports of 'wire rod of alloy or non-alloy steel', which is used in many applications and sectors such as automotive components, welding electrodes, fasteners, including nuts and bolts, nails, railway sleepers, general engineering, binding wires for construction industry and armoured cables.
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30/09/2016 10:53
Nickel futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators remained on the sidelines in the industrial metal amid a fall in demand from consuming industries at the domestic spot markets. Further, participants cut down their bets in the industrial metal due to a decline in demand from consuming industries, influenced prices of zinc at futures trade. At the MCX, nickel futures for September 2016 contract is trading at Rs 692.20 per kg, down by 0.23 per cent, after opening at Rs 692.30, against a previous close of Rs 693.80. It touched the intra-day low of Rs 690.60 (at 10:48 hours).
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Mentha oil futures up on rising demand
30/09/2016 10:45
Mentha oil futures were trading higher during the morning trade in the domestic market on Friday as participants build up fresh positions in the agri-commodity amid an increase in physical demand for mentha oil from major consuming industries in the domestic spot market. Further, widening of positions by traders in the spot market led by upsurge in physical demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade. At the MCX, mentha oil futures for September 2016 contract were trading at Rs 852.30 per kg, up by 0.20 per cent after opening at Rs 852, against the previous closing price of Rs 850.90. It touched the intra-day high of Rs 854.90 (at 10:43 hours).
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Oil lower on profit booking
30/09/2016 10:42
Crude oil futures tanked 1 per cent during morning trade in the domestic market on Friday as investors and speculators resorted to profit taking in the energy commodity after stellar gains in the previous session when the OPEC announced a cut in output for the first time in eight years. The OPEC, a cartel which accounts for about 40 per cent of global crude supplies, at an informal meeting in Algiers on Wednesday, agreed in a preliminary deal to cut output to a range of 32.5 million to 33 million barrels per day, easing worries over a global supply glut, and spurring an over 4.4 per cent rally in domestic crude futures on Thursday. At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,172 per barrel, down by 1 per cent, after opening at Rs 3,190, against a previous close of Rs 3,204. It touched the intra-day low of Rs 3,172 (at 10:09 PM).
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Cardamom futures rise 0.75% on pick up in demand
30/09/2016 10:40
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 a surge in physical demand for cardamom in the domestic spot market. Further, insufficient supplies amid restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,136.10 per kg, up by 0.75 per cent, after opening at Rs 1,130, against a previous close of Rs 1,127.60. It touched the intra-day high of Rs 1,143.70 (at 10:37 hours).
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Ministry recommends anti-dumping duty on Chinese products
30/09/2016 10:01
The commerce ministry has said that it has suggested imposition of anti-dumping duty on imports of steel wire rods from China to guard the interest of domestic players from cheap in-bound shipments. In its initial findings, the directorate general of anti-dumping and allied duties (DGAD) has recommended the duty. As per reports, DGAD has suggested that for certain Chinese companies, the duty should be the difference between the landed value of the steel products and USD 499 per tonne while for others, it should be the gap between the landed value and USD 538 per tonne. As per reports, the duty was recommended on imports of 'wire rod of alloy or non-alloy steel', which is used in many applications and sectors such as automotive components, welding electrodes, fasteners, including nuts and bolts, nails, railway sleepers, general engineering, binding wires for construction industry and armoured cables.
