Mcx Commodity Market News : Morning Session - 14.9.2016
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Copper tad higher on improved China outlook
14/09/2016 11:38
COPPER: UPTREND
Copper futures were trading with slim gains as traders weighed upbeat Chinese economic data which signaled an improved demand outlook for the industrial metal.
China’s factory output and retail sales topped estimates in August, signaling a pickup in the world’s second biggest economy.
Industrial output climbed 6.3 per cent, year-on-year in August 2016, compared to a 6.2 per cent forecast by analysts while growth in retail sales accelerated to 10.6 per cent from 10.2 per cent.
At the MCX, copper futures for November 2016 contract is trading at Rs 316.4 per kg, up by 0.06 per cent, after opening at Rs 316.7, against a previous close of Rs 316.2. It touched an intra-day high of Rs 316.95 (At 11:31 AM).
Nickel futures gain on upsurge in demand
14/09/2016 10:48
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 surge in demand from alloy-makers at the domestic spot market.
Further, a rise 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 September 2016 contract is trading at Rs 664.30 per kg, up by 0.27 per cent, after opening at Rs 664.90, against a previous close of Rs 662.50. It touched the intra-day high of Rs 664.90 (at 10:46 hours).
Mentha oil futures up 0.41% on rising demand
14/09/2016 10:38
MENTHAOIL: UPTREND
Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday as participants widened their bets in the agri-commodity amid surge in physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, a rise in demand for mentha oil futures was attributed to enlarging of positions by traders in the spot market, supported prices of mentha oil at futures trade.
At the MCX, mentha oil futures for September 2016 contract is trading at Rs 906.40 per kg, up by 0.41 per cent after opening at Rs 905.10, against the previous closing price of Rs 902.70. It touched the intra-day high of Rs 907.70 (at 10:37 hours)
Cardamom futures zoom 1.57% on pickup in demand
14/09/2016 10:34
CARDAMOM: UPTREND
Cardamom futures were trading higher during the morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions in the agri-commodity amid surge in physical demand for cardamom in the domestic spot market. Further, insufficient stocks position amid restricted supplies from producing regions, supported the uptrend in domestic cardamom prices. At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,200 per kg, up by 1.57 per cent, after opening at Rs 1,200, against a previous close of Rs 1,181.50. It touched the intra-day high of Rs 1,200 (at 10:32 hours).
