Mcx Commodity Market News: Evening Session - 22.9.2016

Mcx Commodity Market News: Evening Session - 22.9.2016

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Aluminium futures up as demand rises
22/09/2016 16:45
Aluminium futures were trading higher during the evening trade in the domestic market on Thursday as participants widened their positions amidst uptick in physical demand for aluminium in the domestic spot market.
Further, a rise in demand for aluminium at the domestic spot market was led by building up of fresh bets by participants in the spot markets, supported aluminium prices at futures trade.
At the MCX, aluminium futures for September 2016 contract is trading at Rs 107.45 per kg, up by 1.80 per cent, after opening at Rs 105.80, against a previous close of Rs 105.55. It touched the intra-day high of Rs 107.55 (at 16:44 hours).


Muted demand drags down mentha oil futures by 0.28%
22/09/2016 15:18
Mentha oil futures were trading lower during the afternoon trade in the domestic market on Thursday as participants widened their bets in the agri-commodity amid sluggish physical demand from major consuming industries for mentha oil in the domestic spot market.
Besides, ample stocks position on higher supplies from producing regions, influenced prices of mentha oil at futures trade.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 881 per kg, down by 0.28 per cent after opening at Rs 883.60, against the previous closing price of Rs 883.50. It touched the intra-day low of Rs 873 (at 15:15 hours).

Cardamom futures slide on sluggish demand
22/09/2016 15:12
Cardamom futures were trading lower during the afternoon trade in the domestic market on Thursday as participants trimmed their positions in the agri-commodity amid fall in physical demand for cardamom in the domestic spot market. Further, sufficient supplies amid higher physical arrivals from the major cardamom producing regions, too influenced the downtrend in the domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,136 per kg, down by 0.22 per cent, after opening at Rs 1,140, against a previous close of Rs 1,138.50. It touched the intra-day low of Rs 1,135 (at 15:10 hours).

Copper futures up 0.81% on rising demand
22/09/2016 13:47
Copper futures were trading higher during the afternoon trade in the domestic market on Thursday as participants widened their positions in the industrial metal on uptick in spot demand in the domestic markets. Besides, an increase in demand from consuming industries at the spot market, supported copper prices at futures trade.
At the MCX, copper futures for November 2016 contract is trading at Rs 325.30 per kg, up by 0.81 per cent, after opening at Rs 323.40, against a previous close of Rs 322.70. It touched the intra-day high of Rs 325.40 (at 13:42 hours).

White metal in reverse gear
22/09/2016 13:38
Silver futures were trading lower during the afternoon trade in the domestic market on Thursday as investors and speculators trimmed their positions in the precious metals at the domestic spot markets due to fall in demand as equities rose post US Fed outcome on Wednesday which kept its benchmark interest rates steady and leaving the low-rate environment intact for now.
The US Federal Reserve however signaled that it could tighten monetary policy by the end of this year as the labour market improved further.
At the MCX, silver futures for December 2016 contract is trading at Rs 47,111 per kg, down by 0.12 per cent, after opening at Rs 47,302, against a previous close of Rs 47,169. It touched the intra-day low of Rs 47,070 (at 13:31 hours).

Mcx Commodity Market News : Morning Session - 22.9.2016

Mcx Commodity Market News : Morning Session - 22.9.2016

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Crude oil futures up on another drop in US crude inventories
22/09/2016 11:02
Crude oil futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators widened their bets after a drawdown in the US crude inventories in a third consecutive week. The crude oil prices soared after the data released by the US Energy Information Administration showed a bigger-than-expected 6.2-million barrels drop in domestic crude stockpiles for the week ended September 16, 2016. At 504.6 million barrels, crude inventories were the lowest since February 12, 2016, but still 11 per cent above year-ago levels, said EIA. At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,076 per barrel, up by 0.98 per cent, after opening at Rs 3,070, against a previous close of Rs 3,046. It touched the intra-day high of Rs 3,080 (at 10:54 hours).


Yellow metal rises on Fed decision
22/09/2016 10:51
Gold futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators build up fresh positions in the precious metal after the August US Fed meeting on Wednesday in which it kept key rates unchanged. The US central bank hold interest rates unchanged at 0.25 per cent to 0.50 per cent. On the other hand, the Bank of Japan had adopted a target for long-term interest rates in its meeting on Wednesday. At the MCX, gold futures for October 2016 contract is trading at Rs 31,283 per 10 grams, up by 0.25 per cent, after opening at Rs 31,250, against a previous close of Rs 31,205. It touched the intra-day high of Rs 31,284 (at 10:44 hours).

Lead futures up 0.74% on robust demand
22/09/2016 10:37
Lead futures were trading higher during the morning trade in the domestic market on Thursday as participants started building up fresh positions in the industrial metal on account of increase in physical demand for lead, from battery-makers, in the domestic spot market. Further, a rise in demand from battery-makers in the domestic spot market, supported prices of lead at the domestic spot markets. At the MCX, lead futures for September 2016 contract is trading at Rs 130.10 per kg, up by 0.74 per cent, after opening at Rs 129.85, against a previous close of Rs 129.15. It touched the intra-day high of Rs 130.20 (at 10:35 hours).


Aluminium futures gain on upsurge in demand
22/09/2016 10:32
Aluminium futures were trading higher during the morning trade in the domestic market on Thursday as participants widened their positions amidst uptick in physical demand for aluminium in the domestic spot market. Further, a rise in demand for aluminium at the domestic spot market was led by building up of fresh positions by participants in the spot markets, supported aluminium prices at futures trade. At the MCX, aluminium futures for September 2016 contract is trading at Rs 106.25 per kg, up by 0.66 per cent, after opening at Rs 105.80, against a previous close of Rs 105.55. It touched the intra-day high of Rs 106.50 (at 10:32 hours).

Pick up in demand lifts zinc futures by 0.96%
22/09/2016 10:29
Zinc futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators widened their positions amid an increase in demand from consuming industries at the domestic spot markets. Investors build up fresh positions after the US Fed decided to keep key policy rates on hold while the Bank of Japan adjusted its monetary policy on Wednesday. At the MCX, zinc futures for September 2016 contract is trading at Rs 152.90 per kg, up by 0.96 per cent, after opening at Rs 152.20, against a previous close of Rs 151.45. It touched the intra-day high of Rs 152.95 (at 10:25 hours).


Nickel futures zoom 1.03% on upsurge in demand
22/09/2016 10:22
Nickel futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators widened their bets amid surge in physical demand from alloy-makers at the domestic spot market. Further, pickup in domestic demand from alloy-makers at the spot markets, supported the uptrend in nickel prices at futures trade. At the MCX, nickel futures for September 2016 contract is trading at Rs 697.40 per kg, up by 1.03 per cent, after opening at Rs 691, against a previous close of Rs 690.30. It touched the intra-day high of Rs 698.30 (at 10:21 hours).

Mentha oil futures up on rising demand
22/09/2016 10:18
Mentha oil futures were trading higher during the morning trade in the domestic market on Thursday as participants indulged in building up of positions in the agri-commodity amid a rise in physical demand from major consuming industries for mentha oil in the domestic spot market. Further, an uptick in demand for mentha oil futures was attributed to widening 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 were trading at Rs 884.80 per kg, up by 0.15 per cent after opening at Rs 883.60, against the previous closing price of Rs 883.50. It touched the intra-day high of Rs 885.10 (at 10:17 hours).

Uptick in demand lifts cardamom futures by 0.53%
22/09/2016 10:15
Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators started building up fresh positions in the agri-commodity amid uptick 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 1,144.50 per kg, up by 0.53 per cent, after opening at Rs 1,140, against a previous close of Rs 1,138.50. It touched the intra-day high of Rs 1,147 (at 10:10 hours).

Mcx Commodity Market News: Evening Session - 21.9.2016

Mcx Commodity Market News: Evening Session - 21.9.2016

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Cabinet approves winding up of Hindustan Diamond Company
21/09/2016 14:02
The government has given its approval for initiating the process of winding up of Hindustan Diamond Company Private Limited (HDCPL).
“The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for initiating the process of winding up of Hindustan Diamond Company Private Limited (HDCPL), a 50:50 joint venture of the Government of India and De Beers Centenary Mauritius Limited (DBCML),” Ministry of Commerce and Industry said in a statement.
The HDCPL was incorporated under the Companies Act, 1956 in 1978. The objective of formation of the Company was to supply rough diamonds to diamond processing industry in India, particularly to small and medium diamond jewellery exporters, who had no direct access to rough diamonds from Diamond Trading Company (DTC), London, the marketing arm of De Beers who held a very large chunk of world’s rough diamonds market.
The winding up of HDCPL is not likely to affect supply of rough diamonds to Indian diamantaires as Indian diamond industry has grown in these years and several Indian players are sightholders with top diamond producers now.
Also, with the objective to facilitate the constant supply of rough diamonds and to make India an International Diamond Trading Hub, the Government has created a Special Notified Zone (SNZ) at Bharat Diamond Bourse, Mumbai in 2015.
At present viewing operations are being carried out in the SNZ at Mumbai wherein Foreign Mining Companies (FMCs) only display their rough diamond lots to the Indian manufacturers and then take them back. Thereafter the sales are carried through e-auction from offices situated in other countries to Indian manufacturers. This facility has enabled even smaller Indian players to have direct access of supply of rough diamonds.

Zinc futures in reverse gear
21/09/2016 13:53
ZINC: DOWN TREND
Zinc futures were trading lower during the afternoon trade in the domestic market on Wednesday as investors and speculators exited their positions amid decrease in demand from consuming industries at the domestic spot markets.
Investors remained on the sidelines as they keenly eyed the outcome of the US Federal Reserve’s two-day policy meet, which will be released lated in the day after the Bank of Japan adjusted its monetary policy. At the MCX, zinc futures for September 2016 contract is trading at Rs 152.75 per kg, down by 0.59 per cent, after opening at Rs 153.20, against a previous close of Rs 153.65. It touched the intra-day low of Rs 152.50 (at 13:43 hours).


Cardamom futures drop as demand eases
21/09/2016 13:51
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the afternoon trade in the domestic market on Wednesday as investors and speculators cut down their positions in the agri-commodity amid slide in the physical demand for cardamom in the domestic spot market. Further, sufficient supplies amid higher physical arrivals from the major cardamom producing regions, too influenced the downtrend in the domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,143.90 per kg, down by 1.19 per cent, after opening at Rs 1,155.50, against a previous close of Rs 1,157.70. It touched the intra-day low of Rs 1,137 (at 13:38 hours).

Subdued demand drags down copper futures by 0.15%
21/09/2016 12:21
COPPER: DOWN TREND
Copper futures were trading lower during the noon trade in the domestic market on Wednesday as participants trimmed their bets in the industrial metal on decline in demand from domestic markets and tracking a weak trend overseas. Besides, muted demand from consuming industries in the spot market weighed on prices.
At the MCX, copper futures for November 2016 contract is trading at Rs 323.85 per kg, down by 0.15 per cent, after opening at Rs 324, against a previous close of Rs 324.35. It touched the intra-day low of Rs 323.40 (at 12:18 hours).

Crude oil futures climb over 2%
21/09/2016 12:14
CRUDEOIL: UPTREND
Crude oil futures were trading higher during the noon trade in the domestic market on Wednesday as investors and speculators widened their bets amid a mixed trend overseas.
The crude oil prices soared as participants keenly eyed the release of the US energy stockpiles data and an outcome of the US Federal Reserve’s on interest rates.
At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,030 per barrel, up by 2.50 per cent, after opening at Rs 2,965, against a previous close of Rs 2,956. It touched the intra-day high of Rs 3,037 (at 12:07 hours).

Mcx Commodity Market News : Morning Session - 21.9.2016

Mcx Commodity Market News : Morning Session - 21.9.2016

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White metal loses sheen amid caution
21/09/2016 11:03
SILVER: DOWN TREND
Silver futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators trimmed their positions in the precious metals at the domestic spot markets as traders across the globe remained cautious ahead of the outcomes of the key central bank policy meetings in Japan and the US later today. The expectations are higher that the US Fed will leave interest rates unchanged, but participants are looking for commentary and guidance for the timing of next interest rate hike. At the MCX, silver futures for December 2016 contract is trading at Rs 46,001 per kg, down by 0.30 per cent, after opening at Rs 45,920, against a previous close of Rs 46,138. It touched the intra-day low of Rs 45,890 (at 10:58 hours).


Lead futures slide 0.53% on sluggish demand
21/09/2016 10:32
LEAD: DOWN TREND
Lead futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators trimmed their positions in the industrial metal on account of sluggish 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 the domestic spot markets. At the MCX, lead futures for September 2016 contract is trading at Rs 131.90 per kg, down by 0.53 per cent, after opening at Rs 132.30, against a previous close of Rs 132.60. It touched the intra-day low of Rs 131.75 (at 10:32 hours).

Aluminium futures rise on pickup in demand
21/09/2016 10:28
ALUMINUM: DOWN TREND
Aluminium futures were trading higher during the morning trade in the domestic market on Wednesday as participants widened their positions amidst uptick in physical demand for aluminium in the domestic spot market. Further, a rise in demand for aluminium at the domestic spot market was led by building up of fresh positions by participants in the spot markets, supported aluminium prices at futures trade. At the MCX, aluminium futures for September 2016 contract is trading at Rs 105.20 per kg, up by 0.10 per cent, after opening at Rs 105.30, against a previous close of Rs 105.10. It touched the intra-day high of Rs 105.35 (at 10:27 hours).

Cardamom futures fall on muted demand
21/09/2016 10:26
CARDAMOM: DOWN TREND
Cardamom futures ended lower in the domestic market on Tuesday as investors and speculators cut down their positions in the agri-commodity amid slide in physical demand for cardamom in the domestic spot market. Further, sufficient supplies amid higher physical arrivals from the major cardamom producing regions, too influenced the downtrend in the domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract closed Tuesday’s trading at Rs 1157.70 per kg after opening at Rs 1183.00, against a previous close of Rs 1182.40. It touched the intra-day low of Rs 1152.60.

Zinc futures extends gain on robust demand
21/09/2016 10:15
ZINC: DOWN TREND
Zinc futures ended higher in the domestic market on Tuesday as investors and speculators build up fresh positions amid increasing demand from consuming industries at the domestic spot markets. Further, an upsurge in demand for zinc at the domestic spot market was led by widening of positions by traders in the spot markets, supported zinc prices at futures trade. At the MCX, zinc futures for September 2016 contract closed Tuesday’s trading at Rs 153.65 per kg after opening at Rs 150.95, against a previous close of Rs 150.45. It touched the intra-day high of Rs 153.85.

Mcx Commodity Market News: Evening Session - 20.9.2016

Mcx Commodity Market News: Evening Session - 20.9.2016

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Yellow metal shines as equities slide ahead of Fed meet
20/09/2016 12:27

Gold futures were trading higher during the noon trade in the domestic market on Tuesday as investors and speculators build up fresh positions in the precious metal as equities dragged down ahead of the much awaited central bank meetings in Japan and the US on Sept 20-21, in which interest rates are likely to remain unchanged.
Asian stocks slide as traders keenly eyed the outcomes of both the US central bank and Bank of Japan’s two-day policy meetings.
Thus, safe haven assets become more attractive for investors as compared to others. At the MCX, gold futures for October 2016 contract is trading at Rs 30,968 per 10 grams, up by 0.21 per cent, after opening at Rs 30,950, against a previous close of Rs 30,903. It touched the intra-day high of Rs 31,050 (at 12:08 hours).

Lead futures rise on pickup in demand
20/09/2016 12:05

Lead futures were trading higher during the noon trade in the domestic market on Tuesday as investors and speculators build up their positions in the industrial metal on account of pickup in physical demand for lead, from battery-makers, in the domestic spot market.
Further, a rise in demand from battery-makers in the domestic spot market, supported prices of lead at the domestic spot markets. At the MCX, lead futures for September 2016 contract is trading at Rs 131.10 per kg, up by 0.27 per cent, after opening at Rs 130.75, against a previous close of Rs 130.75. It touched the intra-day high of Rs 131.15 (at 12:01 hours).

Mcx Commodity Market News: Evening Session - 19.9.2016

Mcx Commodity Market News: Evening Session - 19.9.2016

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Zinc futures slide on muted demand
19/09/2016 16:57
ZINC: DOWN TREND
Zinc futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators cut down their positions amid fall in demand from consuming industries at the domestic spot markets.
Further, a decline in demand for zinc at the domestic spot market was led by trimming of positions by traders in the spot markets, influenced zinc prices at futures trade. At the MCX, zinc futures for September 2016 contract is trading at Rs 148.05 per kg, down by 0.24 per cent, after opening at Rs 149, against a previous close of Rs 148.40. It touched the intra-day low of Rs 147.55 (at 16:50 hours).

Nickel futures zoom on spot demand, overseas cues
19/09/2016 16:18
NICKEL: UPTREND
Nickel futures were trading higher during the evening trade in the domestic market on Monday as investors and speculators extended their bets amid uptick in physical demand from alloy-makers at the domestic spot markets and a firm trend globally.
Further, an upsurge in domestic demand from alloy-makers at the spot markets coupled with a firm trend in select base metals in global markets, supported the uptrend in nickel prices at futures trade. At the MCX, nickel futures for September 2016 contract is trading at Rs 663.30 per kg, up by 1.80 per cent, after opening at Rs 653, against a previous close of Rs 651.60. It touched the intra-day high of Rs 664.30 (at 16:15 hours).

Mentha oil futures drop on sluggish demand
19/09/2016 15:47
MENTHAOIL: DOWN TREND
Mentha oil futures were trading lower during the evening trade in the domestic market on Monday as investors and speculators trimmed their bets in the agri-commodity amid tepid physical demand from major consuming industries for mentha oil in the domestic spot market.
Further, a decline in demand for mentha oil futures was attributed to cut down of bets by traders in the spot market, influenced prices of mentha oil at futures trade.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 889 per kg, down by 1.02 per cent after opening at Rs 895, against the previous closing price of Rs 898.20. It touched the intra-day low of Rs 887.20 (at 15:38 hours).


Cardamom futures drop on profit booking
19/09/2016 14:49
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the afternoon trade in the domestic market on Monday as investors and speculators booked profits in the agri-commodity amid slide in physical demand for cardamom in the domestic spot market. Also, sufficient supplies on adequate physical arrivals from the major cardamom producing regions, too influenced the downtrend in domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,176 per kg, down by 2.24 per cent, after opening at Rs 1,190, against a previous close of Rs 1,203. It touched the intra-day low of Rs 1,167 (at 14:43 hours).

Copper futures in reverse gear
19/09/2016 13:56
COPPER: UPTREND
Copper futures were trading lower during the afternoon trade in the domestic market on Monday as participants trimmed their bets in the industrial metal amid muted demand from domestic markets and tracking a weak trend in select base metals overseas. The prices for copper fell as Anglo American restarted operations after a strike at its Los Bronces mine in central Chile, bolstering supply from the world's largest producer and subdued demand at the domestic spot markets.
At the MCX, copper futures for November 2016 contract is trading at Rs 322.20 per kg, down by 0.57 per cent, after opening at Rs 322.90, against a previous close of Rs 324.05. It touched the intra-day low of Rs 321.20 (at 13:41 hours).


White metal shines on global cues
19/09/2016 13:38
SILVER: UPTREND
Silver futures were trading higher during the afternoon trade in the domestic market on Monday as investors and speculators widened their bets in the precious metal tracking a firm trend overseas ahead of the central bank meetings in Japan and the US this week.
The safe-haven assets become more attractive for investors amid uncertainty as compared to riskier assets.
At the MCX, silver futures for December 2016 contract is trading at Rs 45,865 per kg, up by 1.31 per cent, after opening at Rs 45,620, against a previous close of Rs 45,273. It touched the intra-day high of Rs 45,998 (at 13:31 hours).

Crude oil futures zoom on overseas cues
19/09/2016 12:17

CRUDEOIL: UPTREND
Crude oil futures were trading higher during the noon trade in the domestic market on Monday as investors and speculators widened their bets after Venezuela said OPEC and non-OPEC producers were close to reaching an output stabilising deal while clashes in Libya raised concerns that efforts to restart crude exports could be disrupted.
The Key crude states are due to meet in Algeria next week to discuss the global supply crisis and overproduction that has hammered prices for 2 years.
On Sunday, Venezuela President Nicholas Maduro said participants in the talks -- the OPEC cartel and Russia -- are now working on a deal and that he had discussed the issue with his Iranian and Ecuadoran counterparts.
At the MCX, crude oil futures for September 2016 contract is trading at Rs 2,929 per barrel, up by 1.53 per cent, after opening at Rs 2,899, against a previous close of Rs 2,885. It touched the intra-day
high of Rs 2,937 (at 12:10 hours).

Mcx Commodity Market News : Morning Session - 19.9.2016

Mcx Commodity Market News : Morning Session - 19.9.2016

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Yellow metal shines amid uncertainty
19/09/2016 11:10
GOLD: UPTREND
Gold futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators build up fresh positions in the precious metal amid uncertainty ahead of the much awaited central bank meetings in Japan and the US this week. The US consumer prices jumped higher than expected in August month as healthcare costs recorded their biggest gain in 32-1/2 years, thus pointing to a steady build-up of inflation which could allow the US Fed to raise interest rates this year. Safe haven assets became more attractive for investors as compared to others. At the MCX, gold futures for October 2016 contract is trading at Rs 30,894 per 10 grams, up by 0.26 per cent, after opening at Rs 30,932, against a previous close of Rs 30,813. It touched the intra-day high of Rs 30,951 (at 11:00 hours).

Lead futures slide on subdued demand
19/09/2016 10:57
LEAD: DOWN TREND
Lead futures were trading lower during the morning trade in the domestic market on Monday as investors and speculators cut down their bets in the industrial metal due to fall in physical demand for lead, from battery-makers, in the domestic spot market. Further, a decline in demand from battery-makers in the domestic spot market, influenced prices of lead at the domestic spot markets. At the MCX, lead futures for September 2016 contract is trading at Rs 129.35 per kg, down by 0.31 per cent, after opening at Rs 129.20, against a previous close of Rs 129.20. It touched the intra-day low of Rs 129.10 (at 10:58 hours).

Aluminium futures in reverse gear
19/09/2016 10:53
ALUMINIUM: DOWN TREND
Aluminium futures were trading lower during the morning trade in the domestic market on Monday as participants remained on the sidelines amidst decrease in physical demand for aluminium in the domestic spot market. Further, a slide in demand for aluminium at the domestic spot market was led by cutting down of positions by participants in the spot markets, influenced aluminium prices at futures trade. At the MCX, aluminium futures for September 2016 contract is trading at Rs 104.80 per kg, down by 0.33 per cent, after opening at Rs 104.90, against a previous close of Rs 105.15. It touched the intra-day low of Rs 104.55 (at 10:51 hours).


Zinc futures remain flat on muted demand
19/09/2016 10:48
ZINC: DOWN TREND
Zinc futures were trading flat during the morning trade in the domestic market on Monday as investors and speculators remained on the sidelines amid subdued demand from consuming industries at the domestic spot markets. Further, a drop in demand for zinc at the domestic spot market was led by trimming of positions by traders in the spot markets, influenced zinc prices at futures trade. At the MCX, zinc futures for September 2016 contract is trading flat at Rs 148.40 per kg, after opening at Rs 149, against a previous close of Rs 148.40. It touched the intra-day low of Rs 148.20 (at 10:48 hours).


Uptick in demand lifts nickel futures by 1.58%
19/09/2016 10:44
NICKEL: UPTREND
Nickel futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators widened their bets amid surge in physical demand from alloy-makers at the domestic spot market. Further, an increase in domestic demand from alloy-makers at the spot markets, supported the uptrend in nickel prices at futures trade. At the MCX, nickel futures for September 2016 contract is trading at Rs 661.90 per kg, up by 1.58 per cent, after opening at Rs 653, against a previous close of Rs 651.60. It touched the intra-day high of Rs 662.30 (at 10:44 hours).

Muted demand drags down mentha oil futures by 1.01%
19/09/2016 10:41
MENTHAOIL: DOWN TREND
Mentha oil futures were trading lower during the morning trade in the domestic market on Monday as participants indulged in offloading their positions in the agri-commodity amid fall in physical demand from major consuming industries for mentha oil in the domestic spot market. Further, a drop in demand for mentha oil futures was attributed to cut down of bets by traders in the spot market, influenced prices of mentha oil at futures trade. At the MCX, mentha oil futures for September 2016 contract were trading at Rs 889.10 per kg, down by 1.01 per cent after opening at Rs 895, against the previous closing price of Rs 898.20. It touched the intra-day low of Rs 888.80 (at 10:40 hours).


Cardamom futures dive 2% on diminishing demand
19/09/2016 10:35
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the morning trade in the domestic market on Monday as investors and speculators cut down their positions in the agri-commodity amid slide in physical demand for cardamom in the domestic spot market. Further, sufficient supplies amid higher physical arrivals from the major cardamom producing regions, too influenced the downtrend in domestic cardamom prices. At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,179 per kg, down by 2 per cent, after opening at Rs 1,190, against a previous close of Rs 1,203. It touched the intra-day low of Rs 1,179 (at 10:32 hours).

Mcx Commodity Market News: Evening Session - 16.9.2016

Mcx Commodity Market News: Evening Session - 16.9.2016

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Lead bears take control
16/09/2016 15:02
LEAD: DOWN TREND
Lead futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the industrial metal amid weak physical demand for lead from battery-makers in the domestic spot market.
Weak economic data from the US cast doubts over the outlook for metal demand in the world’s biggest economy as US industrial production fell 0.4 per cent in August from July, retail sales declined 0.3 per cent in the same period, while unemployment claims rose 1,000 to 260,000 last week.
At the MCX, lead futures for September 2016 contract is trading at Rs 129.35 per kg, down by 0.31 per cent, after opening at Rs 129.65, against a previous close of Rs 129.75. It touched the intra-day low of Rs 128.95 (at 15:00 PM).

Nickel quiet in noon trade
16/09/2016 14:20
NICKEL: DOWN TREND
Nickel futures were trading flat, with a negative bias in noon trade in the domestic market on Friday as investors stayed on the sidelines amid uncertainty over the demand outlook in the US, the world’s biggest economy.
Thursday’s US economic releases disappointed with industrial output and retail sales, two widely watched indicators, both suffering a drop in August, while jobless claims, a gauge of the health of the labour market, edging up by 1,000 last week.
The focus on Friday will be on US consumer price inflation for August and preliminary measure of US consumer sentiment in September.
At the MCX, nickel futures for September 2016 contract is trading at Rs 648.70 per kg, down by 0.03 per cent, after opening at Rs 649.50, against a previous close of Rs 648.90. It touched the intra-day low of Rs 645.6 (at 14:15 PM).

Silver in the red on central bank policy caution
16/09/2016 14:11
SILVER: DOWN TREND
Silver futures fell during noon trade in the domestic market on Friday as investors and speculators stayed cautious ahead of central bank meetings in US and Japan next week to gauge the health of the world economy and outlook for monetary policies in major economies.
After the Bank of England on Thursday kept policy unchanged but signaled scope of a further rate cut in November, the Fed will meet next week to decide whether to hike interest rates, while the Bank of Japan could bolster monetary stimulus and slash its key rate deeper into the negative terrain.
However, a fall in US industrial output and retail sales in August has eased speculation of a Fed rate hike next week.
At the MCX, silver futures for December 2016 contract closed at Rs 45,512 per kg, down by 0.28 per cent, after opening at Rs 45,540, against a previous close of Rs 45,638. It touched the intra-day low of Rs 45,381. (At 14:06 PM).

LME Inventories Data: Sep 16, 2016
16/09/2016 14:04
Copper stocks -225 MT to 349000, Aluminum Stocks -6050 MT to 2166925 MT, Nickel Stocks -840 MT to 366966 MT, Zinc Stocks -1125 MT to 444450 MT, Lead Stocks (0) MT to 187850MT.


Zinc slips on tepid US data
16/09/2016 14:00
ZINC: DOWN TREND
Zinc futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Further, factories in the US cut output by the most since March in August, while retail sales fell and jobless claims rose, signaling a slowdown in the world’s biggest economy, clouding the demand outlook for metals.
US manufacturing production fell 0.4 per cent in August from July, retail sales declined 0.3 per cent in the same period, while unemployment claims rose 1,000 to 260,000 last week.
At the MCX, zinc futures for September 2016 contract is trading at Rs 148.35 per kg, down by 0.30 per cent, after opening at Rs 148.55, against a previous close of Rs 148.80. It touched the intra-day low of Rs 148.20 (at 13:51 PM).


Improved China demand outlook buoys Copper
16/09/2016 13:42
COPPER: UPTREND
Copper futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amid bets that a pickup in the Chinese economy may bolster demand.
China’s August industrial output and retail sales growth topped estimates while new loans at 948.7 billion yuan were more than double July’s figure, a sign that the slowdown in the world’s second biggest economy is stabilizing.
However, the gains in the industrial metal were curbed by tepid US economic data as industrial output fell 0.4 per cent in August while retail sales declined 0.3 per cent.
At the MCX, copper futures for November 2016 contract is trading at Rs 324.1 per kg, up by 0.25 per cent, after opening at Rs 323.2, against a previous close of Rs 323.3. It touched the intra-day high of Rs 324.25 (at 13:35 PM).

Gold lower on Fed meet caution
16/09/2016 13:09
GOLD: DOWN TREND
Gold futures fell during noon trade in the domestic market on Friday as investors and speculators stuck to a cautious stance ahead of next week’s US Federal Reserve policy meet in which the world’s top central bank will decide over whether to hike interest rates.
However, weak economic data has dimmed the odds of a near-term Fed rate hike, which will bolster the lure for the yellow metal as a store of value.
US industrial output fell 0.4 per cent in August from July as factory production declined, while retail sales fell 0.3 per cent last month, the first drop in five months.
At the MCX, gold futures for October 2016 contract ended at Rs 30,854 per 10 grams, down by 0.18 per cent, after opening at Rs 30,875, against a previous close of Rs 30,910. It touched the intra-day low of Rs 30,836. (At 13:03 PM).


Copper futures surge on China economic data
16/09/2016 13:05
COPPER: UPTREND
Copper futures were trading higher during the afternoon trade in the domestic market on Friday as investors and speculators widened their positions in the industrial metal amid signs that demand may improve in China, the world’s biggest metal consumer. Further, uptick in demand at the spot market followed by a firming trend in global markets as strong economic data from China fueled speculation that demand will strengthen in China, the world's largest metals consumer, supported copper prices at futures trade. At the MCX, copper futures for November 2016 contract is trading at Rs 323.9 per kg, up by 0.19 per cent, after opening at Rs 323.2, against a previous close of Rs 323.3. It touched the intra-day high of Rs 324.25 (at 12:51 hours).

Mentha Oil higher on demand pickup
16/09/2016 12:57
MENTHAOIL: UPTREND
Mentha oil futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for mentha oil in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing belts in the country also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract is trading at Rs 903.4 per kg, up by 0.27 per cent after opening at Rs 901.40, against the previous closing price of Rs 901. It touched the intra-day high of Rs 904.1 (at 12:47 PM).

Natural gas lower despite upbeat US storage data
16/09/2016 12:57
NATURALGAS: UPTREND
Natural gas futures fell during noon trade in the domestic market on Friday as investors and speculators exit positions in the energy commodity even as US gas supplies rose less than expected last week, signaling improving demand in the world’s biggest gas consuming nation.
The EIA said that US gas supplies rose 62 billion cubic feet at 3.499 trillion cubic feet in the week ended September 9, below expectations for a 63 billion cubic feet rise. Stockpiles rose 74 billion cubic feet a year earlier with a five-year average build of 69 billion cubic feet.
At the MCX, Natural gas futures for September 2016 contract were trading at Rs 194.2 per mmbtu, down by 0.87 per cent, after opening at Rs. 194.9, against the previous closing price of Rs. 195.9. It touched the intra-day low of Rs. 194.1(At 12:51 PM).

Pickup in physical demand lifts Cardamom
16/09/2016 12:55
CARDAMOM: UPTREND
Cardamom futures rose during noon trade in the domestic market on Friday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing belts in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for October 2016 contract is trading at Rs 1,229.8 per kg, up by 0.48 per cent, after opening at Rs 1,227.3, against a previous close of Rs 1,223.9. It touched the intra-day high of Rs 1,234.5 (at 12:44 PM).

Uptick in demand lifts lead futures by 0.35%
16/09/2016 12:44
LEAD: DOWN TREND
Lead futures were trading higher during the afternoon trade in the domestic market on Friday as investors and speculators widened their bets in the industrial metal due to upsurge in physical demand for lead from battery-makers in the domestic spot market.
Further, building up of fresh positions by traders amid rise in demand from battery-makers in the domestic spot market, supported lead prices at futures trade. At the MCX, lead futures for September 2016 contract is trading at Rs 130.20 per kg, up by 0.35 per cent, after opening at Rs 129.65, against a previous close of Rs 129.75. It touched the intra-day high of Rs 130.45 (at 12:43 hours).


Aluminium futures rise on pickup in demand
16/09/2016 12:37
ALUMINIUM: DOWN TREND
Aluminium futures were trading higher during the afternoon trade in the domestic market on Friday as participants widened their positions on uptick in physical demand for aluminium in the domestic spot market.
Further, an increase in demand for aluminium at the domestic spot market was attributed to building up of fresh bets by participants in the spot markets, supported aluminium prices at futures trade.
At the MCX, aluminium futures for September 2016 contract is trading at Rs 104.95 per kg, up by 0.48 per cent, after opening at Rs 104.40, against a previous close of Rs 104.45. It touched the intra-day high of Rs 105.20 (at 12:37 hours).

Mcx Commodity Market News : Morning Session - 16.9.2016

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Sluggish demand drags down zinc futures by 0.24%
16/09/2016 11:50
ZINC: DOWN TREND
Zinc futures were trading lower during the late morning trade in the domestic market on Friday as investors and speculators trimmed their positions amid sluggish demand from consuming industries at the domestic spot markets.
Further, a decline in demand for zinc at the domestic spot market was due to cut down of bets by traders in the spot market, influenced zinc prices at futures trade. At the MCX, zinc futures for September 2016 contract is trading at Rs 148.45 per kg, down by 0.24 per cent, after opening at Rs 148.55, against a previous close of Rs 148.80. It touched the intra-day low of Rs 148.20 (at 11:47 hours).


Glut fears hit Crude oil
16/09/2016 11:24
CRUDEOIL: DOWN TREND
Crude oil futures plunged by more than 1 per cent during morning trade in the domestic market on Friday as investors and speculators exit positions in the energy commodity as a return of disrupted supplies and slowing demand growth threaten to prolong a supply glut.
Libya and Nigeria are planning to boost crude exports within weeks. Supplies from the two OPEC members had been curbed by domestic conflicts.
The IEA warned that the global oil surplus is expected to last longer than it had previously anticipated as output remains resilient while demand growth weakens.
Major oil producing nations will meet later this month amid speculation of an agreement on some measures to stabilize the market.
At the MCX, crude oil futures for September 2016 contract is trading at Rs 2,912 per barrel, down by 1.22 per cent, after opening at Rs 2,925, against a previous close of Rs 2,948. It touched the intra-day low of Rs 2,910 (at 11:18 AM).


Nickel futures trade higher on improved demand
16/09/2016 11:05
NICKEL: DOWN TREND
Nickel futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators build up fresh positions tracking improved demand from alloy-makers at the domestic spot market.
Further, a surge 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 651.70 per kg, up by 0.43 per cent, after opening at Rs 649.50, against a previous close of Rs 648.90. It touched the intra-day high of Rs 651.80 (at 11:03 hours).


Mentha oil futures little changed on rising demand
16/09/2016 11:00
MENTHAOIL: UPTREND
Mentha oil futures were little changed during the morning trade in the domestic market on Friday 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 901.50 per kg, up by 0.06 per cent after opening at Rs 901.40, against the previous closing price of Rs 901. It touched the intra-day high of Rs 902.90 (at 10:59 hours).


Cardamom futures up 0.50% on uptick in demand
16/09/2016 10:55
CARDAMOM: UPTREND
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 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 October 2016 contract is trading at Rs 1,230 per kg, up by 0.50 per cent, after opening at Rs 1,227.3, against a previous close of Rs 1,223.9. It touched the intra-day high of Rs 1,234.5 (at 10:47 hours).

Mcx Commodity Market News: Evening Session - 15.9.2016

Mcx Commodity Market News: Evening Session - 15.9.2016

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Gold flat ahead of US economic data
15/09/2016 16:58
GOLD: DOWN TREND
Gold futures were trading little changed during evening trade in the domestic market on Thursday as investors and speculators stayed cautious over booking fresh positions in the yellow metal ahead of US industrial output & retail sales numbers for August which may offer cues over the health of the world’s biggest economy and could dictate the outlook for the country’s monetary policy.
While US retail sales may have dropped 0.1 per cent in August from July, industrial production probably declined 0.3 per cent, signaling underlying economic weakness which may delay policy tightening.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,062 per 10 grams, up by 0.08 per cent, after opening at Rs 31,058, against a previous close of Rs 31,038. It touched the intra-day high of Rs 31,101 (at 16:55 PM).


Weak physical demand hits Cardamom
15/09/2016 16:57
CARDAMOM: DOWN TREND
Cardamom futures fell during evening trade in the domestic market on Thursday as investors and speculators exit positions in the agri-commodity amid weak physical demand for cardamom in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major cardamom producing belts in the country also exerted downward pressure on domestic cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,195 per kg, down by 0.33 per cent, after opening at Rs 1,210, against a previous close of Rs 1,199. It touched the intra-day low of Rs 1,190 (at 16:49 PM).


Mentha oil in reverse gear
15/09/2016 16:57
MENTHAOIL: DOWN TREND
Mentha oil futures fell during evening trade in the domestic market on Thursday as investors and speculators exit positions in the agri-commodity amid weak physical demand for mentha oil in the domestic spot market.
Further, abundant supplies amid higher physical arrivals from the major mentha oil producing belts in the country also exerted downward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract is trading at Rs 900.6 per kg, down by 0.87 per cent after opening at Rs 908.20, against the previous closing price of Rs 908.50. It touched the intra-day low of Rs 899.1 (at 16:53 PM).


Cardamom futures down 0.33% on muted demand
15/09/2016 16:52
CARDAMOM: DOWN TREND
Cardamom futures were trading lower during the evening trade in the domestic market on Thursday as investors and speculators trimmed their bets in the agri-commodity amid drop in physical demand for cardamom in the domestic spot market. Further, sufficient stocks position amid increased supplies from producing regions, influenced the downtrend in domestic cardamom prices at futures trade. At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,195 per kg, down by 0.33 per cent, after opening at Rs 1,210, against a previous close of Rs 1,199. It touched the intra-day low of Rs 1,190 (at 16:48 hours).


White metal up 0.15% on speculation
15/09/2016 16:21
SILVER: UPTREND
Silver futures were trading higher in the domestic market on Thursday as investors and speculators extended their positions in the precious metal amid speculation about the pace and timing of future US interest rate hike. Prices for silver futures rise after US Fed Governor Lael Brainard on Monday argued against raising interest rates prematurely. Her comments seemed to contradict hawkish statements from Boston Fed President Eric Rosengren, who last week warned against keeping rates lower for longer, thus rising demand for silver. At the MCX, silver futures for December 2016 contract is trading at Rs 45,672 per kg, up by 0.15 per cent, after opening at Rs 45,569, against a previous close of Rs 45,605. It touched the intra-day high of Rs 45,725 (at 16:16 hours).


Oil higher on US inventory drop
15/09/2016 16:12
CRUDEOIL: UPTREND
Crude oil futures were trading with modest gains during evening trade in the domestic market on Thursday as traders cheered a surprise drop in US storage levels last week, easing fears over a global supply glut. The EIA said that US crude oil inventories fell by 0.559 million barrels in the week ended September 9, 2016 to 510.8 million barrels. Meanwhile, stockpiles at Cushing, the biggest US oil storage hub, fell by 1.245 million barrels last week. At the MCX, crude oil futures for September 2016 contract is trading at Rs 2,944 per barrel, up by 0.20 per cent, after opening at Rs 2,940, against a previous close of Rs 2,938. It touched the intra-day high of Rs 2,947 (at 16:08 PM).


Gold futures little changed as speculators widen position
15/09/2016 15:55
GOLD: UPTREND
Gold futures were little changed during the evening trade in the domestic market on Thursday as investors and speculators widened their positions in the precious metal despite weak trend overseas. Traders attributed the rise in gold prices at futures trade to widening of positions by speculators however a weak trend in the precious metals overseas, capped the gains. At the MCX, gold futures for October 2016 contract is trading at Rs 31,055 per 10 grams, up by 0.05 per cent, after opening at Rs 31,058, against a previous close of Rs 31,038. It touched the intra-day high of Rs 31,101 (at 15:49 hours).


Copper futures up 0.28% on spot demand, global cues
15/09/2016 14:12
COPPER: UPTREND
Copper futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators widened their positions in the industrial metal on upsurge in demand from consuming industries in the spot market and tracking firm trend in base metals overseas. Further, uptick in demand at the spot market followed by a firming trend in global markets as strong economic data from China fueled speculation that demand will strengthen in China, the world's largest metals consumer, supported copper prices at futures trade. At the MCX, copper futures for November 2016 contract is trading at Rs 323.45 per kg, up by 0.28 per cent, after opening at Rs 323, against a previous close of Rs 322.55. It touched the intra-day high of Rs 324.55 (at 14:08 hours).

Lead futures rise on spot demand
15/09/2016 12:35
LEAD: UPTREND
Lead futures were trading higher during the noon trade in the domestic market on Thursday as investors and speculators widened their bets in the industrial metal due to upsurge in physical demand for lead from battery-makers in domestic spot market.
Further, building up of fresh positions by traders led to a rise in demand from battery-makers in the domestic spot market, supported lead prices at futures trade. At the MCX, lead futures for September 2016 contract is trading at Rs 130.60 per kg, up by 0.23 per cent, after opening at Rs 130.50, against a previous close of Rs 130.30. It touched the intra-day high of Rs 130.80 (at 12:33 hours).

Mcx Commodity Market News : Morning Session - 15.9.2016

Mcx Commodity Market News : Morning Session - 15.9.2016

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Aluminium futures gain on upsurge in demand
15/09/2016 11:50
ALUMINIUM: UPTREND
Aluminium futures were trading higher during the late morning trade in the domestic market on Thursday as participants widened their positions on uptick in physical demand for aluminium in the domestic spot market.
Further, an increase in demand for aluminium at the domestic spot market was attributed to building up of fresh bets by participants in the spot markets, supported aluminium prices at futures trade.
At the MCX, aluminium futures for September 2016 contract is trading at Rs 105.70 per kg, up by 0.38 per cent, after opening at Rs 105.45, against a previous close of Rs 105.30. It touched the intra-day high of Rs 105.80 (at 11:47 hours).

Zinc futures little changed on muted demand
15/09/2016 11:02
ZINC: UPTREND
Zinc futures were little changed during the morning trade in the domestic market on Thursday as investors and speculators remained on the sidelines amid muted demand from consuming industries at the domestic spot markets. Further, a decline in demand for zinc at the domestic spot market was due to cut down of bets by traders in the spot market, influenced zinc prices at futures trade. At the MCX, zinc futures for September 2016 contract is trading at Rs 151.70 per kg, down by 0.07 per cent, after opening at Rs 152.10, against a previous close of Rs 151.80. It touched the intra-day low of Rs 151.55 (at 11:00 hours).

Uptick in demand lifts nickel futures by 0.58%
15/09/2016 10:56
NICKEL: UPTREND
Nickel futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators build up fresh positions amid increase in demand from alloy-makers at the domestic spot market. Further, a surge 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 662.80 per kg, up by 0.58 per cent, after opening at Rs 662, against a previous close of Rs 659. It touched the intra-day high of Rs 663.70 (at 10:54 hours).


Mentha oil futures up 0.28% on pickup in demand
15/09/2016 10:28
MENTHAOIL: UPTREND
Mentha oil futures were trading higher during the morning trade in the domestic market on Thursday 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 911 per kg, up by 0.28 per cent after opening at Rs 908.20, against the previous closing price of Rs 908.50. It touched the intra-day high of Rs 912.20 (at 10:28 hours).


Cardamom futures little changed on rising demand
15/09/2016 10:25
CARDAMOM: UPTREND
Cardamom futures were little changed during the morning trade in the domestic market on Thursday 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 0.08 per cent, after opening at Rs 1,210, against a previous close of Rs 1,199. It touched the intra-day high of Rs 1,210 (at 10:24 hours).

Mcx Commodity Market News: Evening Session - 14.9.2016

Mcx Commodity Market News: Evening Session - 14.9.2016

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Gold futures little changed ahead of key US data
14/09/2016 16:59
GOLD: DOWN TREND
Gold futures were little changed during the evening trade in the domestic market on Wednesday as investors and speculators exited their positions in the precious metal amid caution ahead of US retail sales data set for release tomorrow which may signal the health of the world’s biggest economy, and possibly offer some clues over the probability of a near-term US interest rate hike.
US retail sales probably fell 0.1 per cent in August 2016 from the previous month, that may pare back expectations of a rate hike in September.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,061 per 10 grams, down by 0.06 per cent, after opening at Rs 31,030, against a previous close of Rs 31,081. It touched the intra-day low of Rs 31,003 (at 16:52 hours).

Copper futures up 0.79% on spot demand, global cues
14/09/2016 15:59
COPPER: UPTREND
Copper futures were trading higher during the evening trade in the domestic market on Wednesday as investors and speculators widened their positions in the industrial metal on upsurge in demand from consuming industries in the spot market and tracking firm trend in base metals overseas. Further, uptick in demand at the spot market followed by a firming trend in global markets, supported copper prices at futures trade. At the MCX, copper futures for November 2016 contract is trading at Rs 318.70 per kg, up by 0.79 per cent, after opening at Rs 316.70, against a previous close of Rs 316.20. It touched the intra-day high of Rs 319.60 (at 15:49 hours).

Silver bulls regain control
14/09/2016 14:44
SILVER: UPTREND
Silver futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal tracking a firm overseas trend even as a stronger dollar curbed the lure for silver as an alternative asset.
Investors are eying the next moves from key central banks after the ECB last week refrained from fresh stimulus. Despite hawkish comments from Fed officials recently, the US central bank is unlikely to raise interest rates next week while the Bank of England & Bank of Japan may weigh up more stimulus.
At the MCX, silver futures for December 2016 contract closed at Rs 45,735 per kg, up by 0.51 per cent, after opening at Rs 45,510, against a previous close of Rs 45,501. It touched the intra-day high of Rs 45,790. (At 14:40 PM).

Strong physical demand lifts Zinc
14/09/2016 14:37
ZINC: UPTREND
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.
Meanwhile, the gains in the industrial metal maybe checked by weakness in the 19-member Euro area economy as the region’s industrial output fell 1.1 per cent in July 2016 from the same month a year ago.
At the MCX, zinc futures for September 2016 contract is trading at Rs 149.7 per kg, up by 0.27 per cent, after opening at Rs 149.55, against a previous close of Rs 149.30. It touched the intra-day high of Rs 150 (at 14:35 PM).


Bullion in reverse gear ahead of key US data
14/09/2016 14:05
BULLION: UPTREND
Gold futures were trading lower during noon trade in the domestic market on Wednesday as investors stayed cautious ahead of US retail sales data set for release tomorrow which may signal the health of the world’s biggest economy, and possibly offer some clues over the probability of a near-term US interest rate hike.
US retail sales probably fell 0.1 per cent in August 2016 from the previous month, that may pare back expectations of a September rate hike.
At the MCX, gold futures for October 2016 contract closed at Rs 31,007 per 10 grams, down by 0.24 per cent, after opening at Rs 31,030, against a previous close of Rs 31,081. It touched the intra-day low of Rs 31,005. (At 14:02 PM).

Firm physical demand buoys Mentha Oil
14/09/2016 13:56
MENTHAOIL: UPTREND
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 in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major mentha oil producing belts in the country also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract is trading at Rs 906 per kg, up by 0.37 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 909.4 (at 13:54 PM).


Firm physical demand lifts Cardamom
14/09/2016 13:55
CARDAMOM: UPTREND
Cardamom futures jumped 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 cardamom in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing belts in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,190 per kg, up by 0.72 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 13:47 PM).


Sluggish demand hurts lead futures
14/09/2016 12:35
LEAD: UPTREND
Lead futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators cut down their bets in the industrial metal due to sluggish physical demand for lead from battery-makers in domestic spot market.
Further, offloading of positions by participants led to slide in demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade. At the MCX, lead futures for September 2016 contract is trading at Rs 126.50 per kg, down by 0.16 per cent, after opening at Rs 126.20, against a previous close of Rs 126.70. It touched the intra-day low of Rs 125.95 (at 12:32 hours).


Muted demand drag aluminium futures by 0.19%
14/09/2016 12:29
ALUMINIUM: UPTREND
Aluminium futures were trading lower during the noon trade in the domestic market on Wednesday as participants were indulged in trimming their positions on muted physical demand for aluminium in the domestic spot market.
Further, sluggish demand for aluminium at the domestic spot market was attributed to cut down of bets by participants in the spot markets, thus influenced aluminium prices at futures trade.
At the MCX, aluminium futures for September 2016 contract is trading at Rs 104.15 per kg, down by 0.19 per cent, after opening at Rs 104.20, against a previous close of Rs 104.35. It touched the intra-day low of Rs 104 (at 12:28 hours).

Mcx Commodity Market News: Evening Session - 12.9.2016

Mcx Commodity Market News: Evening Session - 12.9.2016

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Global cues, muted demand drags aluminium futures by 0.48%
12/09/2016 13:09

Aluminium futures were trading lower during the afternoon trade in the domestic market on Monday as participants were indulged in trimming their positions on muted physical demand for aluminium in the domestic spot market and tracking weak trend overseas.
Further, sluggish demand for aluminium at the domestic spot market and also tracking weak trend in global markets was attributed to cut down of bets by participants in the spot markets, thus influenced aluminium prices at futures trade.
At the MCX, aluminium futures for September 2016 contract is trading at Rs 104.35 per kg, down by 0.48 per cent, after opening at Rs 105.60, against a previous close of Rs 104.85. It touched the intra-day low of Rs 104.20 (at 13:05 hours)

Stainless steel firms urge govt to hike import duty to 12.5%
12/09/2016 12:24
Reeling under an onslaught of cheap imports, domestic stainless steel industry has urged the government to raise the import duty on such products to 12.5 per cent, reported PTI.
Stainless steel flat product Imports hit a record 5.32 lakh tonne (LT) in 2015-16, which is 25 per cent of the total domestic demand of about 24 LT.
Since 2011-12 (3.07 LT) inbound shipments have grown by 50 per cent, industry body India Stainless Steel Development Association (ISSDA) said.
India produces about 30 LT of stainless steel, which is mainly used in kitchen-related products followed by process industry, engineering, automobiles, Railways and buildings.
"Like steel, stainless sector is also facing a spate of cheap Imports that now accounts for one-fourth of the domestic consumption. We are requesting the government to protect the industry," ISSDA President N C Mathur told PTI.
Industry is demanding that government raise the basic customs duty (BCD) on finished stainless steel flat products from 7.5 per cent at present to 12.5 per cent, which is on par with that on carbon steel.
Also, as several raw materials used in making stainless steel are imported, it is urging the government to bring the import duty on such products to zero, Mathur added.
"We were excluded from the minimum import price (MIP) as well as from the carbon steel customs duties, when they were raised twice last year. But, now the situation for us is very bad and already industry is in crisis," he said.
ISSDA is also demanding imposition of a provisional countervailing duty of hot rolled and cold rolled flat stainless steel products from China.
"Of the 5.32 LT Imports in the last fiscal, 50 per cent alone came from China. Imports from China have grown over two-fold to 2.77 LT in 2015-16 from 1.13 LT in 2013-14," Mathur said.
ISSDA said that stainless steel producers have invested around Rs 35,000 crore towards modernisation and capacity expansion since 2000, which will be of no use if government does not support the industry at this juncture.
"We are asking for short-term support for 1-2 years as the industry has to meet interest payment and debt obligations that in such an environment will not be possible. These cannot wait for the budget as from the data you can see how grave the situation is," Mathur rued.

Mcx Commodity Market News: Evening Session - 8.9.2016

Mcx Commodity Market News: Evening Session - 8.9.2016

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Lead extends drop in noon trade
08/09/2016 15:19
Lead futures fell during noon trade in the domestic market on Thursday as investors and speculators exit positions in the industrial metal amid weak physical demand for lead, from battery-makers, in the domestic spot market.
Traders cast aside improved US labour market data as job openings surged by the most in six months, up by 228,000 to 5.87 million in July.
At the MCX, lead futures for September 2016 contract is trading at Rs 126.4 per kg, down by 0.71 per cent, after opening at Rs 127.20, against a previous close of Rs 127.30. It touched the intra-day low of Rs 126.30 (at 15:17 PM).

Nickel in firm gear on improving outlook
08/09/2016 15:15
Nickel futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid robust physical demand for nickel, from alloy-makers, in the domestic spot market.
A sixth straight rise in China’s exports in yuan terms in August and an upward revision in Japan’s Q2 GDP growth bolstered the demand outlook for the base metal. China’s exports rose by 5.9 per cent in August 2016, year-on-year while Japan upped its estimate for Q2 GDP growth to 0.7 per cent annualized rate from 0.2 per cent.
At the MCX, nickel futures for September 2016 contract is trading at Rs 685.2 per kg, up by 0.90 per cent, after opening at Rs 680, against a previous close of Rs 679.1. It touched the intra-day high of Rs 685.8(at 15:12 PM).

Natural Gas higher in noon trade
08/09/2016 14:29
Natural gas futures rose during noon trade in the domestic market on Thursday as investors eyed the weekly US storage data which may show the state of health of the demand for the fuel in the world’s biggest gas consuming nation.
The EIA last week showed that US gas supplies had risen by 51 billion cubic feet in the week ended August 26, 2016.
However, with the peak summer demand for the power plant fuel now coming to an end, stockpiles may increase further in the coming weeks.
At the MCX, Natural gas futures for September 2016 contract were trading at Rs 180 per mmbtu, up by 0.90 per cent, after opening at Rs. 178.9, against the previous closing price of Rs. 178.4. It touched the intra-day high of Rs. 180.1 (At 14:19 PM).


Silver gets a boost from weaker greenback
08/09/2016 14:28
Silver futures rose during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking strength in the bullion overseas as a weaker dollar bolstered the appeal of silver as an alternative asset.
Weaker greenback makes silver cheaper for those holding other currencies, thus bolstering demand.
Meanwhile, uncertainty remains over the timing of the next US Federal Reserve interest rate hike with Richmond Fed President Jeffrey Lacker signaling a strong case for September tightening while Kansas City Fed President Esther George stressed that the US labour market was operating at or near full strength.
At the MCX, silver futures for December 2016 contract is trading at Rs 47,290 per kg, up by 0.59 per cent, after opening at Rs 47,220, against a previous close of Rs 47,013. It touched the intra-day high of Rs 47,360 (at 14:27 PM).


Zinc bears rule the roost
08/09/2016 14:14
Zinc futures fell during noon trade in the domestic market on Thursday as investors and speculators exit positions in the industrial metal amid weak physical demand for zinc in the domestic spot market.
Traders weighed data which showed that China’s exports rose for the sixth straight month in yuan terms, up by 5.9 per cent in August 2016 as a weaker currency cushioned the country’s overseas shipments from a continued global slowdown. However, in dollar terms, exports fell 2.8 per cent, year-on-year in August 2016.
At the MCX, zinc futures for September 2016 contract is trading flat at Rs 152.75 per kg, down by 0.81 per cent, after opening at Rs 154.25, against a previous close of Rs 154. It touched the intra-day low of Rs 152.6. (At 14:11 PM).


Mixed China trade data weighs on Copper
08/09/2016 14:07
Copper futures stalled during noon trade in the domestic market on Thursday as investors and speculators stayed on the sidelines ahead of the ECB policy meet later in the session with hopes that the Frankfurt-based central bank may boost QE as it cuts growth forecasts for the Euro area.
Meanwhile, a mixed bag of Chinese trade data signaled uncertainty over the demand outlook for copper from the world’s biggest metals consuming nation as Chinese exports fell 2.8 per cent, year-on-year in August 2016 but imports climbed 1.5 per cent.
At the MCX, copper futures for November 2016 contract is trading at Rs 312.5 per kg, unchanged, after opening at Rs 313, against a previous close of Rs 312.5 (At 14:04 PM).

Gold logs slim gains as ECB eyed
08/09/2016 13:56
Gold futures were trading mildly higher during noon trade in the domestic market on Thursday as investors remained focused on the European Central Bank (ECB) meeting with the Frankfurt-based central bank likely to maintain record stimulus and issue fresh growth and inflation outlooks for the Euro area.
Gold, a non-interest bearing asset, tends to benefit from a loose monetary policy regime.
Meanwhile, traders continued to assess the case for Fed policy tightening in the coming months amid the recent bag of mixed economic data. The Fed in its Beige Book survey said that the US economy continued to expand at a modest pace in July and August but inflation remained subdued.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,339 per 10 grams, up by 0.11 per cent, after opening at Rs 31,350, against a previous close of Rs 31,305. It touched the intra-day high of Rs 31,370 (at 13:48 PM).

Global cues lift white metal by 0.61%
08/09/2016 13:54
Silver futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators widened their positions in the precious metal tracking a firm trend overseas.
Further, enlargning of positions by participants in the domestic market was driven by firm global trend, thus rising silver prices at futures trade. At the MCX, silver futures for December 2016 contract is trading at Rs 47,300 per kg, up by 0.61 per cent, after opening at Rs 47,220, against a previous close of Rs 47,013. It touched the intra-day high of Rs 47,343 (at 13:49 hours).

Cardamom surges over 1% on upbeat physical demand
08/09/2016 13:13
Cardamom futures jumped over 1 per cent during noon trade in the domestic market on Thursday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom from major consuming industries in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing regions in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,146 per kg, up by 1.29 per cent, after opening at Rs 1,138.80, against a previous close of Rs 1,131.40. It touched the intra-day high of Rs 1,150 (at 13:09 PM).


Firm physical demand buoys Mentha Oil
08/09/2016 13:13
Mentha Oil futures rose during noon trade in the domestic market on Thursday 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 also exerted upward pressure on domestic mentha oil prices.
At the MCX, mentha oil futures for September 2016 contract were trading at Rs 913.10 per kg, up by 0.25 per cent after opening at Rs 908.60, against the previous closing price of Rs 910.80. It touched the intra-day high of Rs 917.5 (at 13:13 PM).


Yellow metal shines on overseas cues
08/09/2016 13:12
Gold futures were trading higher during the afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal amid increased expectations that the US Fed may not hike interest rates in September in the world’s biggest economy after weaker-than-expected US jobs growth in August.
Safe haven assets become attractive for investors amid uncertainity on US Fed interest hike, thus rising demand for gold.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,349 per 10 grams, up by 0.14 per cent, after opening at Rs 31,350, against a previous close of Rs 31,305. It touched the intra-day high of Rs 31,370 (at 13:04 hours).