Mcx Commodity News for Cardamom, Menthaoil, Lead, Aluminum, Crudeoil : Morning Session - 19.10.2016

Mcx Commodity Market News : Morning Session 

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Lead futures dip on diminishing demand
19/10/2016 11:33
Lead futures were trading lower during the morning trade in the domestic market on Wednesday as participants cut down their bets in the industrial metal due to muted physical demand for lead, from battery-makers, in the domestic spot market.
Further, a fall in demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade.
At the MCX, lead futures for October 2016 contract is trading at Rs 130.80 per kg, down by 0.42 per cent, after opening at Rs 131.50, against a previous close of Rs 131.35. It touched the intra-day low of Rs 130.80 (at 11:38 hours).

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Aluminium futures dip on subdued demand
19/10/2016 11:30
Aluminium futures were trading lower during the morning trade in the domestic market on Wednesday as participants remained on the sidelines in the industrial metal amidst subdued physical demand for aluminium in the domestic spot market. Further, a decrease in demand for aluminium at the domestic spot market was due to trimming of positions by investors in the spot markets, influenced aluminium prices at futures trade.
At the MCX, aluminium futures for October 2016 contract is trading at Rs 108.65 per kg, down by 0.50 per cent, after opening at Rs 109.05, against a previous close of Rs 109.20. It touched the intra-day low of Rs 108.60 (at 11:30 hours).

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Oil surges on US inventory drop
19/10/2016 11:29
Crude oil futures jumped by over 1 per cent during late morning trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as a decline in US crude oil stockpiles last week eased fears over a global supply glut.
The industry-funded American Petroleum Institute (API) reported a 3.8 million barrels decline in US crude oil stockpiles in the week ended October 14, 2016.
This comes after the EIA last week reported a build of 4.9 million barrels in US crude storage levels.
Supplies in Cushing, Oklahoma, witnessed a massive drop of 1.96 million barrels last week, the biggest withdrawal since February 2014.
At the MCX, crude oil futures for October 2016 contract is trading at Rs 3384 per barrel, up by 1.32 per cent, after opening at Rs 3358, against a previous close of Rs 3340. It touched the intra-day high of Rs 3387. (At 11:25 AM).

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Mentha oil futures rise as demand picks up
19/10/2016 11:24
Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday as participants build up fresh positions in the agri-commodity amid pick up 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 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 October 2016 contract were trading at Rs 924.50 per kg, up by 0.30 per cent after opening at Rs 924.80, against the previous closing price of Rs 921.70. It touched the intra-day high of Rs 927.90 (at 11:25 hours).

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Uptick in demand lifts cardamom futures by 1.13%
19/10/2016 11:20
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 uptick in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices.
At the MCX, cardamom futures for November 2016 contract is trading at Rs 1158.90 per kg, up by 1.13 per cent, after opening at Rs 1146, against a previous close of Rs 1145.90. It touched the intra-day high of Rs 1167.70 (at 11:20 hours).