Mcx Commodity Market News : Morning Session - 28.9.2016
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Zinc futures gain on upsurge in demand
28/09/2016 11:04
Zinc futures were trading marginally higher during the morning trade in the domestic market on Wednesday as investors and speculators widened their positions in the industrial metal amid a surge in demand from consuming industries at the domestic spot markets. Further, participants build up fresh positions in the industrial metal due to a rise in demand from consuming industries, supported prices of zinc at futures trade. At the MCX, zinc futures for September 2016 contract is trading at Rs 153.25 per kg, up by 0.10 per cent, after opening at Rs 153.30, against a previous close of Rs 153.10. It touched the intra-day high of Rs 153.50 (at 11:00 hours).
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Nickel futures little changed as Philippine crackdown deepens
28/09/2016 10:56
Nickel futures were little changed during the morning trade in the domestic market on Wednesday after the Philippines said that twenty more mines likely to be suspended for environmental violations, thus threatening supply from the world's top nickel ore exporter. The Philippines order came after officials vowed to pursue stricter standards than in global mining centers such as Canada and Australia. However, Manila has already halted ten mines in an audit. At the MCX, nickel futures for September 2016 contract is trading at Rs 703.30 per kg, up by 0.03 per cent, after opening at Rs 703, against a previous close of Rs 703.10. It touched the intra-day high of Rs 705 (at 10:49 hours).
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Uptick in demand lifts mentha oil futures by 0.62%
28/09/2016 10:45
Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday as participants widened their positions in the agri-commodity amid a surge in physical demand for mentha oil from major consuming industries in the domestic spot market. Further, building up of fresh positions by traders in the spot market due to a rise in 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 858.30 per kg, up by 0.62 per cent after opening at Rs 855.90, against the previous closing price of Rs 853. It touched the intra-day high of Rs 864 (at 10:43 hours).
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Cardamom futures little changed on rising demand
28/09/2016 10:40
Cardamom futures were little changed during the morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions in the agri-commodity amid rise 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 1,140.20 per kg, up by 0.05 per cent, after opening at Rs 1,142.80, against a previous close of Rs 1,139.60. It touched the intra-day high of Rs 1,143 (at 10:39 hours).
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Crude oil futures up after industry data shows US stocks draw
28/09/2016 10:35
Crude oil futures were trading higher during the morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions in the energy commodity after industry data showed a surprise draw in the US crude stocks. However, worries over a lack of agreement among producers to curb output, restricted further gains. Meanwhile, OPEC members will hold informal talks at 1400 GMT on Wednesday. They also meet non-OPEC producers on the sidelines of 3-day International Energy Forum, being held in Algiers and which ends on Wednesday. At the MCX, crude oil futures for October 2016 contract is trading at Rs 2,988 per barrel, up by 0.44 per cent, after opening at Rs 2,980, against a previous close of Rs 2,975. It touched the intra-day high of Rs 2,988 (at 10:25 hours).
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Zinc futures gain on upsurge in demand
28/09/2016 11:04
Zinc futures were trading marginally higher during the morning trade in the domestic market on Wednesday as investors and speculators widened their positions in the industrial metal amid a surge in demand from consuming industries at the domestic spot markets. Further, participants build up fresh positions in the industrial metal due to a rise in demand from consuming industries, supported prices of zinc at futures trade. At the MCX, zinc futures for September 2016 contract is trading at Rs 153.25 per kg, up by 0.10 per cent, after opening at Rs 153.30, against a previous close of Rs 153.10. It touched the intra-day high of Rs 153.50 (at 11:00 hours).
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Nickel futures little changed as Philippine crackdown deepens
28/09/2016 10:56
Nickel futures were little changed during the morning trade in the domestic market on Wednesday after the Philippines said that twenty more mines likely to be suspended for environmental violations, thus threatening supply from the world's top nickel ore exporter. The Philippines order came after officials vowed to pursue stricter standards than in global mining centers such as Canada and Australia. However, Manila has already halted ten mines in an audit. At the MCX, nickel futures for September 2016 contract is trading at Rs 703.30 per kg, up by 0.03 per cent, after opening at Rs 703, against a previous close of Rs 703.10. It touched the intra-day high of Rs 705 (at 10:49 hours).
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Uptick in demand lifts mentha oil futures by 0.62%
28/09/2016 10:45
Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday as participants widened their positions in the agri-commodity amid a surge in physical demand for mentha oil from major consuming industries in the domestic spot market. Further, building up of fresh positions by traders in the spot market due to a rise in 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 858.30 per kg, up by 0.62 per cent after opening at Rs 855.90, against the previous closing price of Rs 853. It touched the intra-day high of Rs 864 (at 10:43 hours).
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Cardamom futures little changed on rising demand
28/09/2016 10:40
Cardamom futures were little changed during the morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions in the agri-commodity amid rise 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 1,140.20 per kg, up by 0.05 per cent, after opening at Rs 1,142.80, against a previous close of Rs 1,139.60. It touched the intra-day high of Rs 1,143 (at 10:39 hours).
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Crude oil futures up after industry data shows US stocks draw
28/09/2016 10:35
Crude oil futures were trading higher during the morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions in the energy commodity after industry data showed a surprise draw in the US crude stocks. However, worries over a lack of agreement among producers to curb output, restricted further gains. Meanwhile, OPEC members will hold informal talks at 1400 GMT on Wednesday. They also meet non-OPEC producers on the sidelines of 3-day International Energy Forum, being held in Algiers and which ends on Wednesday. At the MCX, crude oil futures for October 2016 contract is trading at Rs 2,988 per barrel, up by 0.44 per cent, after opening at Rs 2,980, against a previous close of Rs 2,975. It touched the intra-day high of Rs 2,988 (at 10:25 hours).
