MCX Silver, Zinc, Copper, Lead, Cardamom, Menthaoil Updates
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White metal loses sheen on weak global cues
28/09/2016 13:59
Silver futures were little changed during the afternoon trade in the domestic market on Wednesday as investors and speculators trimmed their positions in the precious metals tracking weak cues globally.
Further, the fall in prices for silver was in-line with a weak trend in overseas markets as a surge in the US consumer confidence and dollar’s gains damped the demand for the metal as a store of value, kept pressure on silver prices at futures trade in domestic markets.
At the MCX, silver futures for December 2016 contract is trading at Rs 45,453 per kg, down by 0.09 per cent, after opening at Rs 45,363, against a previous close of Rs 45,494. It touched the intra-day low of Rs 45,350 (at 13:52 hours).
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28/09/2016 13:51
Zinc futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Investors shrugged off weak German data which signaled a slowdown in Europe’s biggest economy, dimming the demand outlook for metals. A forward-looking gauge measuring consumer confidence in Germany fell to 10 points for October from 10.2 points in September.
At the MCX, zinc futures for September 2016 contract is trading at Rs 154.15 per kg, up by 0.69 per cent, after opening at Rs 153.30, against a previous close of Rs 153.10. It touched the intra-day high of Rs 153.35 (at 13:49 PM).
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28/09/2016 13:43
Copper futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for copper, in the domestic spot market.
Further, buoyant US consumer confidence and the fastest rise in services activity since April in September signaled an improved demand outlook for metals in the world’s biggest economy. The gauge measuring US consumer sentiment climbed to 104.1 this month, the highest since August 2007, from a revised 101.8 in August. Further, the index measuring US services rose to 51.9 in September from 51 in August, with a reading above 50 signaling expansion.
At the MCX, copper futures for November 2016 contract is trading at Rs 324.20 per kg, up by 0.54 per cent, after opening at Rs 322.35, against a previous close of Rs 322.45. It touched the intra-day high of Rs 324.30 (at 13:41 PM).
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28/09/2016 13:01
Cardamom futures fell during noon trade in the domestic market on Wednesday as investors and speculators exit positions in the agri-commodity amid soft physical demand for cardamom from major consuming industries in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major cardamom producing regions in the country also weighed on domestic cardamom prices.
At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,131.9 per kg, down by 0.68 per cent, after opening at Rs 1,142.80, against a previous close of Rs 1,139.60. It touched the intra-day low of Rs 1,125 (at 12:58 PM).
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28/09/2016 13:01
Mentha Oil futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing regions in the country also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 859.4 per kg, up by 0.75 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 13:01 PM).
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White metal loses sheen on weak global cues
28/09/2016 13:59
Silver futures were little changed during the afternoon trade in the domestic market on Wednesday as investors and speculators trimmed their positions in the precious metals tracking weak cues globally.
Further, the fall in prices for silver was in-line with a weak trend in overseas markets as a surge in the US consumer confidence and dollar’s gains damped the demand for the metal as a store of value, kept pressure on silver prices at futures trade in domestic markets.
At the MCX, silver futures for December 2016 contract is trading at Rs 45,453 per kg, down by 0.09 per cent, after opening at Rs 45,363, against a previous close of Rs 45,494. It touched the intra-day low of Rs 45,350 (at 13:52 hours).
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Zinc bulls rule the roost28/09/2016 13:51
Zinc futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market.
Investors shrugged off weak German data which signaled a slowdown in Europe’s biggest economy, dimming the demand outlook for metals. A forward-looking gauge measuring consumer confidence in Germany fell to 10 points for October from 10.2 points in September.
At the MCX, zinc futures for September 2016 contract is trading at Rs 154.15 per kg, up by 0.69 per cent, after opening at Rs 153.30, against a previous close of Rs 153.10. It touched the intra-day high of Rs 153.35 (at 13:49 PM).
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Upbeat US data lifts Copper28/09/2016 13:43
Copper futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for copper, in the domestic spot market.
Further, buoyant US consumer confidence and the fastest rise in services activity since April in September signaled an improved demand outlook for metals in the world’s biggest economy. The gauge measuring US consumer sentiment climbed to 104.1 this month, the highest since August 2007, from a revised 101.8 in August. Further, the index measuring US services rose to 51.9 in September from 51 in August, with a reading above 50 signaling expansion.
At the MCX, copper futures for November 2016 contract is trading at Rs 324.20 per kg, up by 0.54 per cent, after opening at Rs 322.35, against a previous close of Rs 322.45. It touched the intra-day high of Rs 324.30 (at 13:41 PM).
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Weak physical demand weighs on cardamom28/09/2016 13:01
Cardamom futures fell during noon trade in the domestic market on Wednesday as investors and speculators exit positions in the agri-commodity amid soft physical demand for cardamom from major consuming industries in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major cardamom producing regions in the country also weighed on domestic cardamom prices.
At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,131.9 per kg, down by 0.68 per cent, after opening at Rs 1,142.80, against a previous close of Rs 1,139.60. It touched the intra-day low of Rs 1,125 (at 12:58 PM).
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Upbeat physical demand buoys Mentha Oil28/09/2016 13:01
Mentha Oil futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil from major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing regions in the country also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 859.4 per kg, up by 0.75 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 13:01 PM).
