Mcx Commodity Futures - Rupeedesk Consultancy: Mcx Commodity News for Copper

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Mcx Commodity News for Copper, Crude : Evening Session - 28.10.2016

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Mcx Commodity News for Copper, Gold, Crudeoil, Lead : Morning Session - 26.10.2016

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Weak US consumer data bites Copper
26/10/2016 11:53
Copper futures fell on Wednesday as investors and speculators exit positions in the industrial metal amid weak physical demand for copper in the domestic spot market.
Further, US consumer confidence fell in October, signalling a slowdown in the world’s biggest economy, clouding the demand outlook for metals. The gauge measuring US consumer confidence fell to a three-month low of 98.6 in October from a revised 103.5 in September.
At the MCX, copper futures for November 2016 contract is trading at Rs 315.95 per kg, down by 0.41 per cent, after opening at Rs 315.9, against a previous close of Rs 317.25. It touched the intra-day low of Rs 315.4 (at 11:51 AM).

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Flat trade in yellow metal
26/10/2016 11:52
Gold futures were trading flat during trade on Wednesday even as prices remained supported by prospects of higher demand from India ahead of the festive season with Diwali and Dhanteras round the corner.
Gold buying in India typically picks up during the festive season when the bullion is given as a gift.
Further, confidence among American consumers fell to the lowest level in three months in October 2016, bolstering the case for the US Federal Reserve to undertake a slow pace of monetary tightening.
At the MCX, gold futures for December 2016 contract were trading at Rs 29955 per 10 grams, up by 0.04 per cent, after opening at Rs 29,980, against a previous close of Rs 29,942. It touched the intra-day high of Rs 30,000 (at 11:44 AM).

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Oil plunges on Russia fears, US supplies
26/10/2016 11:38
Crude oil futures tanked over 1.5 per cent during morning trade in the domestic market on Wednesday as investors and speculators exit positions in the energy commodity on speculation that Russia won’t join the OPEC in planned output cuts, exacerbating concerns over a global supply glut. Meanwhile, US crude storage levels rose by a massive 4.8 million barrels last week, the industry-funded American Petroleum Institute (API) said. The EIA on Wednesday will release separate crude inventory data for the US. At the MCX, crude oil futures for November 2016 contract is trading at Rs 3302 per barrel, down by 1.55 per cent, after opening at Rs 3345, against a previous close of Rs 3354. It touched the intra-day low of Rs 3298. (At 11:24 AM).

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Muted demand drags down lead futures by 0.55%
26/10/2016 10:44
Lead futures were trading lower during the morning trade in the domestic market on Wednesday as investors and speculators remained on the sidelines in the industrial metal due to fall in physical demand for lead, from battery-makers, in the domestic spot market. Further, a drop in physical 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 136.40 per kg, down by 0.55 per cent, after opening at Rs 136.40, against a previous close of Rs 137.15. It touched the intra-day low of Rs 136.30 (at 10:39 hours).

Mcx Commodity News for Copper, Gold : Evening Session - 25.10.2016

Mcx Commodity Market News : Evening Session

Mcx Commodity News for Copper, Gold, Crudeoil : Evening Session - 24.10.2016

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Copper futures up on overseas cues
24/10/2016 14:33
Copper futures were trading higher during the afternoon trade in the domestic market on Monday as participants widened their positions in the industrial metal after supply in China’s domestic market tightened, more than offsetting a stronger dollar and expectations of ample supply next year.
Further, investors globally eyed the slew of data this week that may yield more insight into metals demand, including 3rd quarter US GDP and PMI data from several developed economies, too supported copper prices at futures trade.
At the MCX, copper futures for November 2016 contract is trading at Rs 311.80 per kg, up by 0.27 per cent, after opening at Rs 311.85, against a previous close of Rs 310.95. It touched the intra-day high of Rs 312.90 (at 14:28 hours).

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Oil higher on output freeze hopes
24/10/2016 14:26
Crude oil futures rose during noon trade in the domestic market on Monday as investors and speculators hoped that a production freeze pact may ease a global supply glut in the energy commodity, helping bring stability in the market.
Energy Ministers from Saudi Arabia and other Gulf-oil producing nations met with their Russian counterpart as they worked out measures to stabilize crude markets.
The OPEC is keen on Russia, the biggest Non-OPEC supplier, supporting its proposal to freeze output, to help lift prices.
The gains in the fuel were limited by a rise in US oil drilling count to an eight-month high last week, raising concerns over higher production in the near-term.
The number of rigs drilling for oil in the US climbed by 14 to 533 last week, Baker Hughes said.
At the MCX, crude oil futures for November 2016 contract is trading at Rs 3412 per barrel, up by 0.29 per cent, after opening at Rs 3393, against a previous close of Rs 3402. It touched the intra-day high of Rs 3416 (at 14:16 PM).

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Yellow metal loses sheen on Fed rate hike prospects
24/10/2016 12:38
Gold futures were trading lower during the noon trade in the domestic market on Monday as investors and speculators exited their positions in the precious metal amid uncertainty about the timing of an interest hike by the US Fed, while a stronger dollar added pressure on bullion.
Further, the 3rd quarter growth figures from the US and Fed policymakers speeches due this week will be keenly eyed by the participants for clues on a possible interest rate hike.
At the MCX, gold futures for December 2016 contract is trading at Rs 29,864 per 10 grams, down by 0.27 per cent, after opening at Rs 29,905, against a previous close of Rs 29,946. It touched the intra-day low of Rs 29,829 (at 12:29 hours).

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Crude oil futures in reverse gear
24/10/2016 12:24
Crude oil futures were trading lower during the noon trade in the domestic market on Monday as investors and speculators exited their positions in the energy commodity after Iraq said that it wanted to be exempt from any deal by the producer cartel OPEC to cut production to prop up market, and also as US drillers stepped up work.
OPEC plans to reduce production to a range of 32.5 million to 33 million bpd, down from 33.39 million bpd in September but it would be harder to achieve if Iraq doesn’t participate as it is OPEC’s second biggest producer after Saudi Arabia.
At the MCX, crude oil futures for November 2016 contract is trading at Rs 3394 per barrel, down by 0.24 per cent, after opening at Rs 3393, against a previous close of Rs 3402. It touched the intra-day low of Rs 3389 (at 12:00 hours).

Mcx Commodity News for Copper, Silver: Evening Session - 18.10.2016

Mcx Commodity Market News : Evening Session - 18.10.2016

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White metal shines on positive overseas cues
18/10/2016 14:44
Silver futures were trading higher during the afternoon trade in the domestic market on Tuesday as investors widened their bets in the precious metal amid firming global trends.
Further, analysts attributed the rise in silver prices at futures trade to a firming trend in the precious metal overseas as dollar weakened on an unexpected fall in US manufacturing index raised demand for the precious metals as a safe-haven.
At the MCX, silver futures for December 2016 contract is trading at Rs 42225 per kg, up by 0.85 per cent, after opening at Rs 42099, against a previous close of Rs 41871. It touched the intra-day high of Rs 42333 (at 14:40 hours).

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Copper futures up on rising demand
18/10/2016 14:36
Copper futures were trading higher during the afternoon trade in the domestic market on Tuesday as participants widened their positions in the industrial metal amid rise in physical demand for copper in the domestic spot market.
Further, an increase in demand for copper at the domestic spot market was led by building up of fresh positions by investors in the spot markets, supported copper prices at futures trade.
At the MCX, copper futures for November 2016 contract is trading at Rs 314.30 per kg, up by 0.30 per cent, after opening at Rs 313.90, against a previous close of Rs 313.35. It touched the intra-day high of Rs 315.15 (at 14:28 hours).

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LME Inventories Data: Oct 18, 2016
18/10/2016 14:29
Copper stocks +2200 MT to 348000, Aluminum Stocks +2550 MT to 2085800 MT, Nickel Stocks -1194 MT to 361284 MT, Zinc Stocks +100 MT to 455750 MT, Lead Stocks +600 MT to 190400 MT.

Mcx Commodity News for Copper, Silver, Gold, Crudeoil : Evening Session - 4.10.2016

Mcx Commodity Market News : Evening Session - 4.102016

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Copper futures fall 0.45% on subdued demand
04/10/2016 14:10
Copper futures were trading lower during the afternoon trade in the domestic market on Tuesday as participants trimmed their bets in the industrial metal amid muted physical demand for copper in the domestic spot market. Further, a decline in demand for copper at the domestic spot market was due to cut down of positions by participants at the spot markets, influenced copper prices at futures trade.
At the MCX, copper futures for November 2016 contract is trading at Rs 323.30 per kg, down by 0.45 per cent, after opening at Rs 324.10, against a previous close of Rs 324.75. It touched the intra-day low of Rs 323 (at 14:05 hours).

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LME Inventories Data: Oct 04, 2016
04/10/2016 13:58
Copper stocks -3250 MT to 368525, Aluminum Stocks -6550 MT to 2148725 MT, Nickel Stocks -540 MT to 361464 MT, Zinc Stocks +8875 MT to 447550 MT, Lead Stocks +150 MT to 190400MT.

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White metal in reverse gear
04/10/2016 13:01
Silver futures were trading lower during the afternoon trade in the domestic market on Tuesday as investors and speculators reduced their positions in the precious metals amid subdued demand at the domestic market.
Further, easing worries over the health of German lender Deutsche Bank after reports emerged that it was set to be nearing a less-costly settlement than earlier feared, influenced prices for silver at futures trade.
At the MCX, silver futures for December 2016 contract is trading at Rs 44,842 per kg, down by 0.11 per cent, after opening at Rs 44,968, against a previous close of Rs 44,893. It touched the intra-day low of Rs 44,839 (at 12:55 hours).

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Yellow metal gains on overseas cues
04/10/2016 12:52
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 amid surge in demand at the domestic market as the dollar strengthened.
Further, widening of positions by traders helped gold futures to trade here but metal's weakness overseas on dollar's gain against basket of currencies overseas, capped the gains.
At the MCX, gold futures for October 2016 contract is trading at Rs 30,675 per 10 grams, up by 0.31 per cent, after opening at Rs 30,645, against a previous close of Rs 30,579. It touched the intra-day high of Rs 30,714 (at 12:45 hours).

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Crude oil futures drop on surging Iran sales
04/10/2016 12:42
Crude oil futures were trading lower during the noon trade in the domestic market on Tuesday as investors and speculators trimmed their positions in the energy commodity on the back of rise in Iranian exports that adds to a global supply overhang.
However, oil prices got some support from the OPEC’s preliminary agreement to cut production.
The oil prices were dented by the latest rise in Iranian crude and condensate sales, which likely reached about 2.8 million barrels per day (bpd) in September, almost matching a 2011 peak in shipments before sanctions were imposed on the OPEC producer. At the MCX, crude oil futures for October 2016 contract is trading at Rs 3,228 per barrel, down by 0.55 per cent, after opening at Rs 3,239, against a previous close of Rs 3,246. It touched the intra-day low of Rs 3,227 (at 12:31 hours).

Mcx Commodity News for Copper, Gold, : Evening Session - 30.9.2016

Mcx Commodity Market News : Evening Session - 30.9.2016

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Subdued demand drags down copper futures by 0.17%
30/09/2016 14:14
Copper futures were trading lower during the afternoon trade in the domestic market on Friday as participants trimmed their bets in the industrial metal amid sluggish physical demand for copper, in the domestic spot market. Further, fall in prices for copper was attributed to cut down of bets by speculators in the domestic markets following subdued demand from consuming industries.
At the MCX, copper futures for November 2016 contract is trading at Rs 325.45 per kg, down by 0.17 per cent, after opening at Rs 325.20, against a previous close of Rs 326. It touched the intra-day low of Rs 324.15 (at 14:08 hours).

Yellow metal in reverse gear
30/09/2016 13:52
Gold futures were little changed during the afternoon trade in the domestic market on Friday as investors and speculators remained on the sidelines in the precious metal in the domestic spot markets despite mixed US data which released on Friday.
Meanwhile, participants awaited the release of the US personal spending and consumer sentiment data, as well as report on manufacturing activity in the Chicago area for further indications on the strength of the economy.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,150 per 10 grams, down by 0.05 per cent, after opening at Rs 31100, against a previous close of Rs 31165. It touched the intra-day low of Rs 31056 (at 13:43 hours).

Surgical strikes haven’t affected gold prices in India: Moily
30/09/2016 13:09
Chairman, Parliamentary Standing Committee on Finance, M. Veerappa Moily has said that India surgical strikes on Pakistan have not affected gold prices in India at an ASSOCHAM event on Thursday.
“Need policies for promoting gold as investment of the country; shall suggest appropriate policies to standing committee. The domestic saving coming down drastically and the gold can play an important role in the economy of the country,” said Moily while inaugurating an ASSOCHAM 9th International Gold Summit & Excellence Awards.
Due to its high liquidity, financing against gold has caught on very well with banks. With huge base of stable and growing depositors coupled with larger number of loan seekers, banks have become a vibrant hub for gold activities-both for purchase as well as lending. The importance of Banks in this activity cannot be undermined and as the demand for gold grows, it will increase the importance and effectiveness of banking sector -largely for its trust as well as affordable lending rates.
He said that gold has been considered as a safe haven asset throughout history as it has been viewed as a store of value and a means of exchange for millennia. It is essentially a currency that cannot be manipulated by the interest rate policies of the government and has traditionally been used as a hedge against inflation or a falling dollar. The sentiment towards the yellow metal remains very high irrespective of the rise/fall in prices and this love for the commodity has made the nation heavily reliant on imports of commodities. Petroleum crude accounts for about 34 percent of the total inward shipments, followed by gold and silver (12 percent of the total imports), machinery (10 percent), electronic goods (7 percent) and pearls, precious and semi-precious stones (5 percent), added Moily.
The Indian gems and jewellery sector is among the most competitive in the world, contributing to 65 per cent by value, 85 per cent by carat and 92 per cent by number of pieces globally, and accounting for more than USD 36 billion of total Indian exports as in 2014-15.In recognition of the business excellence demonstrated by entrepreneurs who make up this industry.
India is one of the largest importers of gold in the world. India accounts for nearly one-third of the total world demand for Gold. At more than 20,000 tonnes, Indian households hold the largest stock of gold in the world, noted Moily.
He also said that as per estimates, India is the world’s largest buyer of Gold followed by China and both countries account for over half of the global demand. India has an estimated private gold stock of 20,000 tonnes worth USD 1 trillion, while it mines only around 1.5 tonnes. About 35 per cent of the Gold demand in India is for investment purpose and is held in the form of bars and coins.

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Mcx Commodity News for Copper, Crude : Evening Session - 28.10.2016

Mcx Commodity News for Copper, Gold, Crudeoil, Lead : Morning Session - 26.10.2016

Mcx Commodity News for Copper, Gold : Evening Session - 25.10.2016

Mcx Commodity News for Copper, Gold, Crudeoil : Evening Session - 24.10.2016

Mcx Commodity News for Copper, Silver: Evening Session - 18.10.2016

Mcx Commodity News for Copper, Silver, Gold, Crudeoil : Evening Session - 4.10.2016

Mcx Commodity News for Copper, Gold, : Evening Session - 30.9.2016

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