Mcx Commodity Market News : Morning Session - 7.10.2016
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Zinc futures gain on upsurge in demand
07/10/2016 11:07
Zinc futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators build up fresh positions in the industrial metal amid an upsurge in demand from consuming industries at the domestic spot markets. Further, participants widened their bets in the industrial metal led by a rise in demand from consuming industries, supported prices of zinc at futures trade. At the MCX, zinc futures for October 2016 contract is trading at Rs 155.45 per kg, up by 0.36 per cent, after opening at Rs 155.85, against a previous close of Rs 154.90. It touched the intra-day high of Rs 155.85 (at 11:06 hours).
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Nickel futures slide on subdued demand
07/10/2016 11:03
Nickel futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators exited their positions amid subdued domestic demand in the industrial metal. Further, participants cut down their bets in the industrial metal due to a slide in demand from consuming industries, influenced prices of nickel at futures trade. At the MCX, nickel futures for October 2016 contract is trading at Rs 683.60 per kg, down by 0.13 per cent, after opening at Rs 684, against a previous close of Rs 684.50. It touched the intra-day low of Rs 683.30 (at 11:02 hours).
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Pick up in demand lifts mentha oil futures by 0.16%
07/10/2016 10:58
Mentha oil futures were trading higher during the morning trade in the domestic market on Friday as participants build up fresh positions in the agri-commodity amid pick up in physical demand for mentha oil from major consuming industries in the domestic spot market. Further, widening of positions by traders in the spot market led by a rise in demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade. At the MCX, mentha oil futures for October 2016 contract were trading at Rs 868 per kg, up by 0.16 per cent after opening at Rs 869.60, against the previous closing price of Rs 866.60. It touched the intra-day high of Rs 870.50 (at 10:52 hours).
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Cardamom futures down 0.10% on muted demand
07/10/2016 10:49
Cardamom futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators remain on the sidelines in the agri-commodity amid muted 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 November 2016 contract is trading at Rs 1131 per kg, down by 0.10 per cent, after opening at Rs 1130, against a previous close of Rs 1132.10. It touched the intra-day low of Rs 1127.70 (at 10:49 hours).
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Steel Ministry to provide low cost affordable homes: Min
07/10/2016 10:44
Union Steel Minister Chaudhary Birender Singh has said that the steel ministry will promote recycling of scraps to increase in-house production and also provide affordable homes made of steel, which are cost effective and more durable. Commenting on the issue, Union Steel Minister Chaudhary Birender Singh told the media, "We want to increase steel consumption in the country and prepared prototypes of affordable house for Rural Development Ministry where 5 crore affordable houses will be built in coming five years." “The new scheme of PM Awas Yojana has endorsed Rs 2.20 lakh for a beneficiary. The ministry has prepared prototypes of steel which costs less than Rs two lakh a unit and three times more durable than the present structure,” he added. Emphasizing that the industry needs to promote use of steel in new and innovative ways, the minister said whether it be steel bridges, steel buildings or its related products in making roads in rural areas, steel can be used productively.
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Zinc futures gain on upsurge in demand
07/10/2016 11:07
Zinc futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators build up fresh positions in the industrial metal amid an upsurge in demand from consuming industries at the domestic spot markets. Further, participants widened their bets in the industrial metal led by a rise in demand from consuming industries, supported prices of zinc at futures trade. At the MCX, zinc futures for October 2016 contract is trading at Rs 155.45 per kg, up by 0.36 per cent, after opening at Rs 155.85, against a previous close of Rs 154.90. It touched the intra-day high of Rs 155.85 (at 11:06 hours).
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Nickel futures slide on subdued demand
07/10/2016 11:03
Nickel futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators exited their positions amid subdued domestic demand in the industrial metal. Further, participants cut down their bets in the industrial metal due to a slide in demand from consuming industries, influenced prices of nickel at futures trade. At the MCX, nickel futures for October 2016 contract is trading at Rs 683.60 per kg, down by 0.13 per cent, after opening at Rs 684, against a previous close of Rs 684.50. It touched the intra-day low of Rs 683.30 (at 11:02 hours).
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Pick up in demand lifts mentha oil futures by 0.16%
07/10/2016 10:58
Mentha oil futures were trading higher during the morning trade in the domestic market on Friday as participants build up fresh positions in the agri-commodity amid pick up in physical demand for mentha oil from major consuming industries in the domestic spot market. Further, widening of positions by traders in the spot market led by a rise in demand for mentha oil from consuming industries at the domestic spot market against insufficient stocks position on restricted supplies from producing regions, supported mentha oil prices at futures trade. At the MCX, mentha oil futures for October 2016 contract were trading at Rs 868 per kg, up by 0.16 per cent after opening at Rs 869.60, against the previous closing price of Rs 866.60. It touched the intra-day high of Rs 870.50 (at 10:52 hours).
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Cardamom futures down 0.10% on muted demand
07/10/2016 10:49
Cardamom futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators remain on the sidelines in the agri-commodity amid muted 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 November 2016 contract is trading at Rs 1131 per kg, down by 0.10 per cent, after opening at Rs 1130, against a previous close of Rs 1132.10. It touched the intra-day low of Rs 1127.70 (at 10:49 hours).
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Steel Ministry to provide low cost affordable homes: Min
07/10/2016 10:44
Union Steel Minister Chaudhary Birender Singh has said that the steel ministry will promote recycling of scraps to increase in-house production and also provide affordable homes made of steel, which are cost effective and more durable. Commenting on the issue, Union Steel Minister Chaudhary Birender Singh told the media, "We want to increase steel consumption in the country and prepared prototypes of affordable house for Rural Development Ministry where 5 crore affordable houses will be built in coming five years." “The new scheme of PM Awas Yojana has endorsed Rs 2.20 lakh for a beneficiary. The ministry has prepared prototypes of steel which costs less than Rs two lakh a unit and three times more durable than the present structure,” he added. Emphasizing that the industry needs to promote use of steel in new and innovative ways, the minister said whether it be steel bridges, steel buildings or its related products in making roads in rural areas, steel can be used productively.
