Oil Extends slide On Oversupply fears

Crude oil Updates - Crude oil futures plunged in the domestic market during noon trade on Monday as investors and speculators exited positions in the energy commodity after the IEA warned that a global oversupply situation may persist next year as demand slows amidst a weakening global economic recovery, and as the OEPC continues to boost production to protect market share and drive away competition from the likes of US and Russia.
 

Also, traders are jittery ahead of the US Federal Reserve’s two-day monetary policy meet startin

g on Tuesday, in which the world’s biggest central bank may raise interest rates for the first time since 2006, boosting the dollar, and dimming the demand for dollar-denominated commodities such as oil.
 

At the MCX, Crude oil futures, for the December 2015 contract, is trading at Rs 2,382 per barrel, down by 0.87 per cent, after opening at 2,388, against the previous close price of Rs 2,403. It touched an intraday low of Rs 2,380.

Zinc Soars On Physical Demand In Domestic Market

Base Metal Zinc - Zinc futures soared by over 1.5 per cent in the domestic market on Friday as investors and speculators booked fresh positions in the industrial metal amidst a pickup in physical demand for zinc in the domestic spot market. 

Further, upbeat US retail sales and consumer sentiment data signaled a pickup in the recovery in the world’s biggest economy, lifting the demand outlook for industrial metals. US retail sales climbed by 0.2 per cent in November 2015 from the previous month, the biggest advance in four months, the Commerce Department reported on Friday. Further, the gauge measuring consumer sentiment climbed to the highest level in four months at 91.8 in December from 91.3 in November.

 

At the MCX, Zinc futures for December 2015 contract closed at Rs 103.6 per kg, up by 1.57 per cent after opening at Rs 102.4, against the previous closing price of Rs 102. It touched the intra-day high of Rs 104.35.

Lead prices Rose by 0.83 per cent on Friday

Base Metal lead - Lead prices rose by 0.83 per cent on Friday at the domestic markets due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 250 metric tonnes to 131500 metric tonnes as on December 11, 2015. At the MCX, Lead futures, for the December 2015 contract, is trading at Rs 115 per kg, up by 0.83 per cent, after opening at Rs 114.15, against a previous close of Rs 114.05. It touched an intra-day high of Rs 115.15 till the trading. 

 

 

Prices also rose due to high demand from battery-makers and other consuming industries at the domestic spot market as well as a strong trend at the global market.at the domestic markets due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 250 metric tonnes to 131500 metric tonnes as on December 11, 2015. At the MCX, Lead futures, for the December 2015 contract, is trading at Rs 115 per kg, up by 0.83 per cent, after opening at Rs 114.15, against a previous close of Rs 114.05. It touched an intra-day high of Rs 115.15 till the trading.

Gold Updates - Gold in Reverse Gear on Fed Caution

Gold Update - Gold futures ended lower in the domestic market on Thursday as investors and speculators resorted to a cautious stance ahead of the US Federal Reserve’s two-day monetary policy meet next week in which the world’s top central bank is almost certain to raise interest rates for the first time since 2006, dimming the lure for the yellow metal as a store of value.

 

Fed officials recently have all expressed satisfaction with the US labour market recovery, and have signaled that the world’s biggest economy is ready to withstand the impact of monetary tightening.
 

Gold, a non-interest bearing asset, tends to lose sheen in a rising interest rate scenario.  Weak cues from the overseas market also weighed on domestic sentiment as a stronger dollar and a rebound in equities curbed the lure for gold as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand.
 

Gold may extend losses today as traders stay cautious ahead of US retail sales and producer prices data which may show a strengthening recovery in the US economy.
 

At the MCX, Gold futures for February 2016 contract closed at Rs 25,418 per 10 gram, down by 0.72 per cent after opening at Rs 25,515, against the previous closing price of Rs 25,602. It touched the intra-day low of Rs 25,391.

Zinc slips on weak Global Trend

Zinc Tips - Zinc futures fell by 0.49 per cent to Rs 101.75 per kg today as speculators reduced positions in the midst of a weak trend globally. Besides, low demand in domestic spot markets fuelled the downtrend. Zinc futures for December 2015 contract, at MCX, were trading at Rs 101.75 per kg, down by 0.49 per cent after opening at Rs. 101.90 against the previous closing price of Rs. 102.25. It touched the intra-day low of Rs. 101.50 till the trading. (At 4.08 PM today). However, losses were limited due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 3600 metric tonnes to 517050 metric tonnes as on December 10, 2015.
 

Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.

Mustard Seed Ends Lower On Sluggish Demand

Free commodity tips -  Mustard Seed prices closed lower by 1.5 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At the NCDEX, Mustard Seed futures for December 2015 contract closed at Rs. 4,608 per quintal, down by 1.5 per cent, after opening at Rs. 4,680 against the previous closing price of Rs. 4,678. It touched the intra-day low of Rs. 4,596. 

Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.
 

EU-27 accounts to about 34 per cent of worlds RM seed production, others major producers are China (23 per cent), Canada (19 per cent), India (14 per cent), Australia (3 per cent), Ukraine (2 per cent). India produces 5.5 million MT to7 million MT annually.

Lead Rises 0.40% on High Demand From Consumers

Base metal Lead - Lead prices rose by 0.40 per cent on Wednesday at the domestic markets due to high demand from battery-makers and other consuming industries at the domestic spot market as well as a strong trend at the global market. At the MCX, Lead futures, for the December 2015 contract, is trading at Rs 114.25 per kg, up by 0.40 per cent, after opening at Rs 113.50, against a previous close of Rs 113.80. It touched an intra-day high of Rs 114.50 till the trading.

However, gains were limited due to the surge in the lead stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME lead stocks rose by 4350 metric tonnes to 131850 metric tonnes as on December 9, 2015.

Maize Ends Higher On Strong Demand

Free Commodity Tips - Maize prices closed higher by 1.44 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At the NCDEX, maize futures for December 2015 contract closed at Rs. 1,547 per quintal, up by 1.44 per cent, after opening at Rs. 1,532 against the previous closing price of Rs. 1,525. It touched the intra-day high of Rs. 1,547. 

 

 

USA, China and Brazil are the top 3 maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan ;EU; Indonesia ; Malaysia, Taiwan, etc.

Jeera Ends Lower on Decline in Demand

Free Commodity tips - Jeera prices closed lower by 1.65 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for December 2015 contract closed at Rs. 15,530 per quintal, down by 1.65 per cent, after opening at Rs. 15,740 against the previous closing price of Rs. 15,790. It touched the intra-day low of Rs. 15,460. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

Natural Gas plunged 5% On US Weather Outlook

free Share tips - Natural Gas futures plunged over 5 per cent in the domestic market on Monday as investors and speculators exited positions in the energy commodity as above-normal temperatures across the US East Coast curtailed heating demand for the fuel in the world’s biggest economy, threatening to keep stockpiles of the fuel near a record high.
 

Latest weather forecasting models called for warmer than normal weather for the US East Coast in the next ten days, threatening to limit gas-fired heating demand at offices and homes.
 

November to March is the peak heating season in the US. About 49 per cent of US households use natural gas for heating purposes.
 

At the MCX, Natural Gas futures for December 2015 contract closed at Rs 138.6 per mmBtu, down by 5.2 per cent, after opening at Rs 145.6, against the previous closing price of Rs 146.20. It touched an intra-day low of Rs 138.3.

Oil in freefall Mode as OPEC Disappoints

free Commodity updates - Crude oil futures tanked nearly 4 per cent in the domestic market on Friday as investors and speculators resorted to heavy selling after the OPEC, the cartel that accounts for about 40 per cent of global crude supplies, refused to curb production to alleviate a supply glut.
 

At Vienna, on Friday, the cartel ditched its idea of limiting output to control prices. Instead, the cartel went for a Saudi Arabia-led policy of pumping oil at continued high rates to squeeze out rivals including US shale drillers, to regain market share.
 

The cartel set aside its daily production target of 30 million barrels per day, which many members had previously ignored as they were producing close to 31.5 million barrels per day. OPEC has set a production target almost without fail since 1982.The OPEC verdict overshadowed a third straight drop in US rig count, which signaled lower US production, going ahead. Baker Hughes reported that the number of US rigs drilling for oil fell by 10 to 545 last week.
 

Strength in the US labour market bolstered hopes of a pickup in oil demand in the world’s biggest oil consumer as US jobs data trumped expectations. The world’s biggest economy added 211,000 jobs in November as the jobless rate stayed at over a seven-year low of 5 per cent while October’s payrolls gain was upwardly revised to 298,000.However, US trade gap widened 3.4 per cent to USD 43.9 billion in September amidst weaker overseas sales.
 

Oil may continue to remain in reverse gear as OPEC’s decision to abandon its production target has given the license to members to produce oil as much as they want in a bid to recapture lost market share
 

At the MCX, Crude oil futures, for the December 2015 contract, closed at Rs 2,684 per barrel, down by 3.8 per cent, after opening at 2,780, against the previous close price of Rs 2,791. It touched an intraday low of Rs 2,661.

Silver futures were trading Higher during Noon Trade

Silver updates - Silver futures were trading higher during noon trade in the domestic market on Friday as investors and speculators booked fresh positons in the precious metal as a cut in deposit rates by the European Central Bank (ECB) bolstered the appeal of the bullion as a store of value.`
 

The ECB said that it will extend its bond buying program by six months until at least March 2017 at the current pace of 60 billion euros a month and will broaden its asset purchases by including local and regional debt. The deposit rate was cut by 10 basis points to -0.3 per cent.
 

However, speculation of a Fed interest rate hike in December trimmed gains in Silver as Fed Chair Janet Yellen signaled that conditions for raising borrowing costs in the world’s biggest economy had been met.
 

At the MCX, Silver for December 2015 contract closed at Rs 33,600 per kg, up by 0.37 per cent, after opening at Rs 33,600, against the previous closing price of Rs 33,477. It touched an intraday high of Rs 33,600.

Gold Futures Ended Higher in the Domestic Market on Thursday

 

Commodity updates - Gold prospects finished higher in the residential business sector on Thursday as financial specialists and examiners booked new positions in the valuable metal following a bullish pattern in the abroad market as a weaker dollar helped the claim of the bullion as an option resource. Weaker greenback makes gold less expensive for those holding different monetary forms, along these lines reinforcing interest.

 

Further, the European Central Bank (ECB) uncovered a support to its benefit buy program and cut its store rate to shore up the 19-part Euro region economy, reinforcing the request of Gold, a fence against the inflationary danger of financial boost.
 

The ECB said that it will develop its bond purchasing system by six months until in any event March 2017 at the present pace of 60 billion euros a month and will expand its benefit buys by including neighborhood and local obligation. The store rate was sliced by 10 premise focuses to - 0.3 for every penny.
 

On the other hand, hypothesis of a Fed loan cost trek in December controlled the draw for Gold as a store of quality, trimming additions in the bullion.
 

Sustained Chair Janet Yellen flagged that conditions for bringing getting expenses up on the planet's greatest economy had been met, reinforcing the case for a lift-off in financing costs by the Fed at its up and coming two-day arrangement meet on December 15-16.
 

Yellen required the desire to raise financing costs sooner than later, with the pace of fixing prone to be slow. Gold may exchange bring down today in the midst of alert in front of US employments information which may further press the case for money related fixing.
 

At the MCX, Gold prospects for December 2015 contract shut at Rs 24,937 for every 10 gram, up by 0.39 for every penny in the wake of opening at Rs 24,804, against the past shutting cost of Rs 24,840. It touched the intra-day high of Rs 25,060.

Zinc Bites The Dust on Tepid Demand Outlook

Base Metal Zinc - Zinc futures tumbled by 2 per cent in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal amidst weak physical demand for zinc in the domestic spot market.

Further, manufacturing contractions in the US and China in November signaled a gloomy demand outlook for the metal. A strengthening dollar following Fed Chair Janet Yellen’s comments who saw the case for a December rate hike also curbed the appeal of industrial metals as an alternative asset.

Meanwhile, New York manufacturing activity growth slowed as the ISM New York index fell to 60.7 in November from 65.8 in October, with a reading above 50 signaling expansion, raising fears that a factory slowdown in the US may curb demand for industrial metals.Euro area consumer inflation remained stuck near zero in November, signaling weak demand in the 19-member economy. The consumer price index for the region climbed 0.1 per cent, year on year in November 2015.

At the MCX, Zinc futures for December 2015 contract closed at Rs 103.10 per kg, down by 2 per cent after opening at Rs 104.65, against the previous closing price of Rs 105.20. It touched the intra-day low of Rs 103.

Crude Oil Gains Despite API Build Last Week

Crude oil  - Prices Rose by 0.50 per cent on Wednesday in spite of a sharp build in industry-estimated US crude oil stocks. The American Petroleum Institute said that crude stocks rose 1.6 million barrels last week, well above the fall of 1.2 million barrels seen. At the MCX, crude oil futures for November 2015 contract were trading at Rs. 2,787 per barrel, up by 0.50 per cent, after opening at Rs. 2,778 against the previous closing price of Rs. 2,773. It touched the intra-day high of Rs. 2,791 till the trading.
 

Separately, a government report on Wednesday could show that US inventories fell by 1.2 million barrels for the week ending on November 27. Last week, US crude stockpiles rose for the ninth straight week to remain at their highest level in at least the last 80 years.
 

Energy traders are mostly hesitant to make any major moves before Friday's critical OPEC meeting in Vienna, one with potential to be the most contentious in recent memory.

Jeera Ends Lower On Rise in Arrivals

 

Commodity Updates - Jeera prices closed lower by 0.66 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, upcoming zeera for Decr 2015 contract closed at Rs. 15,710 per quintal, down by 0.66 per cent, after Starting at Rs. 15,800 against the closing price of Rs. 15,815. It touched the intra-day low of Rs. 15,625.

 Global o/p of Jeera is around 2.2 lk MT per year, of which India produces about 1.5 lakh MT per year.
 

India exports Jeera mainly to the US, UK, UAE, Japan, Brazil,, Singapore and many other countries. Other Major exporters are Syria and Turkey, Bangladesh.

Silver Up As Soft US Data Signals Slow Pace of Rate Hikes

Silver tips - Silver futures were trading with smart gains during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal as weaker than expected US housing and manufacturing data fueled speculation that the Fed which is set to raise borrowing costs for the first time in almost a decade, in mid- December, may go easy on subsequent rate hikes, with the pace of tightening likely to be gradual, bolstering Silver’s appeal as a store of value.
 

Data on Monday showed that contracts to purchase previously owned homes in the US barely increased in October while a gauge of US business activity fell into contraction in November, signaling a cooling recovery in the world’s biggest economy.
 

At the MCX, Silver for December 2015 contract closed at Rs 33,650 per kg, up by 0.51 per cent, after opening at Rs 33,597, against the previous closing price of Rs 33,480. It touched an intraday high of Rs 33,679.

Zinc update - Upbeat Physical Demand Bolsters Zinc

Free Commodity Tips  - Zinc futures ended higher in the domestic market on Monday 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, Texas manufacturing activity showed improvement in the month of November as the Dallas Fed’s production index climbed to 5.2 from 4.8 in October, with a reading above zero signaling expansion, indicating a pickup in the world’s biggest economy, bolstering the demand outlook for industrial metals.
 

Sharp losses in the industrial metal on Friday when prices had slid by over 3.5 per cent amid concerns that a worsening economic slowdown in China may curb zinc demand, offered a good bargain buying opportunity in zinc, to investors & speculators, at existing levels.
 

At the MCX, Zinc futures for November 2015 contract closed at Rs 103.20 per kg, up by 0.63 per cent after opening at Rs 102.20, against the previous closing price of Rs 102.55. It touched the intra-day high of Rs 103.50.

Silver lower Ahead of US jobs Data At Monday Trade

Base Metal Silver Tips -  Silver fates were exchanging the red amid twelve exchange the local business sector on Monday as merchants were mindful in front of key financial occasions this week including the US employments information for November which may flag proceeded with quality in the work business sector of the world's greatest economy, reinforcing the case for a December rate climb, diminishing the bait for the bullion as a store of worth.
 

The US economy most likely added near 200,000 occupations in November, after a 271,000 option in October, the greatest in 2015, while the jobless rate likely held at 5 for each penny, investigators' assessments appear.
 

The attention is additionally on the European Central Bank (ECB) arrangement get with trusts constructing together in further approach facilitating either as a support to the Frankfurt-based national bank's 1.1 trillion euro security purchasing system or by method for a lessening in its store rate. Silver will be bolstered by extra ECB facilitating, given that the valuable metal is a fence against the inflationary danger of money related boost.
 

At the MCX, Silver for December 2015 contract shut at Rs 33,562 for each kg, around 0.41 for every penny, subsequent to opening at Rs 33,641, against the past shutting cost of Rs 33,701. It touched an intraday low of Rs 33,540.

Zinc in freefall mode on China worries

Mcx Tips - Zinc futures tumbled by over 3.5 per cent in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market, and amidst worries that slower economic growth in China, the world’s biggest metals consumer, may curb consumption of zinc.
 

A drop in industrial profits in China last month signaled concerns over a worsening slowdown in the world’s second biggest economy, clouding zinc’s demand prospects. China’s industrial profits fell by 4.6 per cent, year on year in October 2015.
 

Meanwhile, a gauge measuring Euro area economic sentiment remained stable at 106.1 in November, signaling a slow and fragile recovery in the 19-member economy, threatening to curb zinc demand.

At the MCX, Zinc futures for November 2015 contract closed at Rs 102.55 per kg, down by 3.6 per cent after opening at Rs 105.15, against the previous closing price of Rs 106.40. It touched the intra-day low of Rs 101.9.

Crude Oil futures Trading little changed During Morning

Free commodity tips - Raw petroleum prospects were exchanging minimal changed amid morning exchange the residential business sector on Friday as financial specialists and examiners turned to a wary position as a droop in China mechanical benefits flagged reasons for alarm of a hard arriving on the planet's second greatest economy, obfuscating the interest viewpoint for the fuel.

China's mechanical benefits fell by 4.6 for every penny, year on year in October 2015, government information appeared.
 

In the interim, merchants are additionally looking at the result of the OPEC meet on December 4, 2015, despite the fact that there is a slight probability that the cartel will move to slice creation to bolster costs, as it keeps on protecting piece of the pie.
 

At the MCX, Crude oil fates, for the December 2015 contract, is exchanging at Rs 2,852 for every barrel, up by 0.04 for each penny, in the wake of opening at 2,854, against the past close cost of Rs 2,851. It touched an intraday low of Rs 2,851. 

 

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Lead Gains 2.29% on Declining Inventories

 

Base Metal Tips - Lead prices rose by 2.29 per cent on Thursday at the domestic markets due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 575 metric tonnes to 129175 metric tonnes as on November 26, 2014. At the MCX, Lead futures, for the November 2014 contract, is trading at Rs 109.55 per kg, up by 2.29 per cent, after opening at Rs 107.35, against a previous close of Rs 107.10. It touched an intra-day high of Rs 109.60 till the trading.

Sentiment improved further as a result of high demand for the commodity from battery-maker in the spot market in the midst of strong overseas trend.

 

 

Weak Physical Demand Hits Zinc

Base Metal Tips - Zinc prospects finished in the red in the household market on Wednesday as financial specialists and examiners left positions in the mechanical metal in the midst of delicate physical interest for Zinc in the residential spot market.

Further, continuous stresses over China's economy which is tipped to develop at the weakest pace in over two decades in 2015, likewise hosed the interest prospects for zinc. China is the greatest buyer of metals on the planet.

Then again, peppy US manufacturing plant information reinforced the interest viewpoint for zinc, controling misfortunes in the base metal. Orders for business hardware in the US climbed the most in three months, up 1.3 for each penny in October from September, flagging a pickup in capital spending on the planet's greatest economy.

At the MCX, Zinc fates for November 2015 contract shut at Rs 103.75 for every kg, around 0.77 for each penny in the wake of opening at Rs 103.8, against the past shutting cost of Rs 104.55. It touched the intra-day low of Rs 103.05.

Lead prices Rose by 0.57 percent on Tuesday

 

Base metal tips - Lead prices rose by 0.57 per cent on Tuesday at the domestic markets due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 1050 metric tonnes to 130375 metric tonnes as on November 24, 2015. At the MCX, Lead futures, for the November 2015 contract, is trading at Rs 105.30 per kg, up by 0.57 per cent, after opening at Rs 104.50, against a previous close of Rs 104.70. It touched an intra-day high of Rs 105.70 till the trading.

Further, high demand from battery-makers and other consuming industries at the domestic spot market as well as a strong trend at the global market supported the demand for the commodity.

 

 

Crude Oil Futures Closed Lower in the Domestic Market

Mcx tips - Crude oil futures closed lower in the domestic market on Monday as investors and speculators exited positions in the energy commodity as worries over a global supply glut remained even as Saudi Arabia, the biggest OPEC oil producer & exporter, said that the cartel, which makes up about 40 per cent of global crude supplies, vowed to work with global oil producers in a bid to stabilize crude oil prices.
 

According to the Saudi Press Agency, the kingdom was ready to work with oil producing and exporting nations in a bid to stabilize prices.Saudi Arabia’s pledge comes ahead of the OPEC meet in Vienna on December 4 which is unlikely to result in a policy change despite the Saudi pledge.
 

An energy official from Venezuela warned that if OPEC doesn’t change its policy, oil prices could drop to as low as “mid-20s” in 2016.Meanwhile, a drop in US existing home sales in October and a sharp slowdown in US factories with manufacturing growth tumbling to a 25-month low in November signaled a cooling recovery in the world’s biggest economy, clouding the demand outlook for the fuel.
 

The gauge measuring US manufacturing fell to 52.6 in November from 54.1 in October, with a reading above 50 signaling expansion. Sales of previously owned homes in the US fell by 3.4 per cent to a 5.36 million annual pace in October.Oil may extend losses today amidst speculation that US crude supplies rose yet again last week, threatening to exacerbate a supply surplus.
 

At the MCX, Crude oil futures, for the December 2015 contract, closed at Rs 2,828 per barrel, down by 0.18 per cent, after opening at 2,803, against the previous close price of Rs 2,833. It touched an intraday low of Rs 2,707.

Lead Drops On weak Industrial Buying Interest

 

Commodity Updates - Lead prices fell by 1.72 per cent on Monday at the domestic markets as a result of low demand for the commodity from battery-maker in the spot market in the midst of weak overseas trend. At the MCX, Lead futures, for the November 2014 contract, is trading at Rs 103.15 per kg, down by 1.72 per cent, after opening at Rs 104.10, against a previous close of Rs 104.95. It touched an intra-day low of Rs 102.50 till the trading.

However, losses were curbed due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 1575 metric tonnes to 131425 metric tonnes as on November 23, 2014.

Warm Weather Bites Natural Gas Futures

Free commodity tips - Natural Gas futures Drop by more than 6 % in the domestic market on Friday as investors and speculators Get Off positions in the energy commodity tracking instability in the overseas market as warm weather and record storage levels weighed on sentiment.


Latest weather forecasting models called for milder temperatures across the US over the next two weeks, threatening to curb gas-fired heating demand. November to March is the peak US gas heating season. About 49 % of US households use natural gas for heating purposes.

Meanwhile, stockpiles have hit an all-time-high of 4 trillion cubic feet, signaling fears over a supply glut.

At the MCX, Natural Gas futures for November 2015 contract closed at Rs 143.6 per mmBtu, down by 6.2 per cent, after opening at Rs 152.6, against the previous closing price of Rs 153.1. It touched an intra-day low of Rs 143.2.

 

 

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Natural Gas Extends Slump On Ballooning Stockpiles

 

Natural Gas futures plunged by more than 3 per cent during noon trade in the domestic market on Friday as investors and speculators exited positions in the energy commodity which plummeted by nearly 2 per cent on Thursday, as stockpiles hit an all-time-high of 4 trillion cubic feet last week, signaling fears over a supply glut.

US gas supplies climbed by 15 billion cubic feet in the week ended November 13, 2015, taking total storage to levels unseen before. Total storage remains 10.1 per cent higher than year-ago levels and 5.2 per cent above the five-year average for this time of the year.

At the MCX, Natural Gas futures for November 2015 contract is trading at Rs 148 per mmBtu, down by 3.33 per cent, after opening at Rs 152.60, against the previous closing price of Rs 153.1. It touched an intra-day low of Rs 147.6. 

 

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Jeera Closes Higher On Strong Buying Interest

commodity updates - Jeera prices closed higher by 0.42 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors Hike up their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for Novr 2015 contract end at Rs. 15,600 per quintal, up by 0.42 per cent, after opening at Rs. 15,575 against the previous closing price of Rs. 15,535. It touched the intra-day high of Rs. 15,660.
 

Sentiment improved further as a result of less domestic supplies in the physical markets and some export enquiries.
 

Global output of Jeera is around 2.2 lh MT per year, of which India produces about 1.5 lh MT per year. India exports Jeera mainly to the US,Singapore, UK,Bangladesh, UAE, Japan, Brazil, , and many other countries. Other Major exporters are Syria and Turkey.

Castorseed Surges As Demand Picks Up

Castorseed prices rose by 0.14 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings.


At the NCDEX, castor seed futures for November 2015 contract were trading at Rs. 4,164 per quintal tonnes, up by 0.14 per cent, after opening at Rs. 4,165 against the previous closing price of Rs. 4,158. It touched the intra-day high of Rs. 4,175 till the trading.

Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.

 

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Chana Ends Higher As Traders Enlarged Holdings

Free commodity tips - Chana prices closed higher 0.3 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for November 2015 contract closed at Rs. 5,420 per quintal, up by 0.3 per cent, after opening at Rs. 5,402 against the previous closing price of Rs. 5,404. It touched the intra-day high of Rs. 5,420.

Moreover, the restricted arrivals of the commodity in the market due to lower estimated output also influenced the chana prices.

India is the largest Manufacturer of chickpea followed by Iran, Turkey and pakistan . India produces around 6 to 8 million tonnes and contributes around 70 %cent of the total world production.

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Chana Ends Higher On Restricted Supply

 

Free commodity News - Chana prices closed higher 0.18 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders Expanded their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for December 2015 contract closed at Rs. 5,112 per quintal, up by 0.18 per cent, after opening at Rs. 5,020 against the previous closing price of Rs. 5,103. It touched the intra-day high of Rs. 5,121.
 

Moreover, the restricted approch of the commodity in the Solid market due to lower estimated output also influenced the chana prices.
 

India is the largest Manufacturer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70%cent of the total world production. 

 

 

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Crude Oil sinks Deeper into Bear Terrain

Crude oil futures plunged by 3 per cent in the domestic market on Friday as investors and speculators cut risky bets in the energy commodity which sank to the lowest level in 11 weeks in the overseas market as concerns over a global supply glut worsened. The IEA said that global crude oil stockpiles stood at a record near 3 billion barrels by the end of September as it forecast global oil demand growth to slow to 1.2 million barrels per day in 2016 from 1.8 million barrels per day this year.

OPEC, the cartel which accounts for about 40 per cent of global crude supplies, said that surplus crude inventories were at the highest level in at least a decade due to record production.

A rise in US oil rig count for the first time in almost three months last week signaled an increase in production, going ahead, threatening to exacerbate a supply glut. Baker Hughes said that the number of rigs drilling for oil in the US crept up by 2 to 574 last week.

A smaller than expected increase in US retail sales in October signaled a slowdown in consumer spending in the world’s biggest economy which may curb fuel demand. US retail sales rose a paltry 0.1 per cent in October from September when they stood little changed. However, a gauge measuring US consumer sentiment surged to a four-month high of 93.1 in November from 90 in October.

Oil may extend losses today as a renewed Japan recession curbs fuel demand.

At the MCX, Crude oil futures, for the Nov 2015 contract, closed at Rs 2,689 per barrel, down by 3 per cent, after starting at Rs 2,759, against the previous close price of Rs 2,771. It touched an intraday low of Rs 2,677.

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Crude oil futures Plunged by over 3 % in the Domestic Market

Crude oil futures plunged by over 3 per cent in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity tracking a trend in the overseas market as a sixth straight rise in US crude stockpiles exasperated fears over a global supply glut.
 

US crude oil supplies climbed by 2.8 million barrels to 482.8 million barrels in the week ended October 30, 2015, remaining near the highest level in at least 80 years, the EIA said.
 

However, stockpiles at Cushing, the biggest US oil storage hub fell by 212,000 barrels last week. Meanwhile, US crude oil output climbed by 48,000 barrels per day to 9.16 million barrels per day last week while refinery utilization was at 88.7 per cent, up slightly from 87.6 per cent in the prior week.
 

Investors cast aside robust US economic data which showed strong private jobs growth in October while services expanded at the second fastest pace in a decade and the trade gap shrank to a seven-month low in September, signaling a pickup in the world’s biggest economy, boding well for oil’s demand prospects.
 

Private payrolls in the US climbed 182,000 in October, following a revised 190,000 in September, while the ISM services gauge accelerated to 59.1 in October from 56.9 in September, with a reading above 50 signaling expansion. US trade gap narrowed to USD 40.8 billion in September from USD 48 billion in August on lower oil imports.
 

Oil may rebound today as a strengthening US economic recovery bolsters demand outlook for the fuel in the world’s biggest oil consumer.
 

At the MCX, Crude oil futures, for the November 2015 contract, closed at Rs 3,049 per barrel, down by 3.45 per cent, after opening at Rs 3,145, against the previous close price of Rs 3,158. It touched an intraday low of Rs 3,041.

 

 

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Chana Ends Higher As Traders Increased Holdings

 

Chana prices closed higher 2.5 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for November 2015 contract closed at Rs. 4,955 per quintal, up by 2.5 per cent, after opening at Rs. 4,860 against the previous closing price of Rs. 4,834. It touched the intra-day high of Rs. 4,970.
 

Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.


India is the largest Manufacturer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 %cent of the total world production.

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Crude oil futures sank over 1 % in the Domestic Market

Crude oil futures sank over 1 per cent in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a Slow trend in the overseas market as an eighth straight contraction in Chinese manufacturing activity signaled a worsening economic slowdown in the world’s second biggest oil consuming nation, darkening the demand outlook for the fuel.
 

China’s Caixin manufacturing index stood at 48.3 in October, while up from September’s six and a half-year low of 47.2, but remaining well below the neutral 50-mark.
 

Meanwhile, manufacturing in the US grinded to a halt last month as the ISM US Manufacturing PMI remained unchanged at 50.1, signaling concerns over the health of the world’s big economy, clouding the demand outlook for the fuel.
 

Russia’s oil production hit a post-Soviet high of 10.8 million barrels per day in October, worsening concerns over a global supply glut.
 

Meanwhile, despite a drop in US rig counts in recent weeks, US production at around 9 million barrels per day remains close to levels not seen since early 1970s and inventories are at the highest level in at least 80 years, a sign that the oil market remains more than adequately supplied.
 

Oil may rebound today as a pickup in Euro area manufacturing bolsters demand outlook.
 

At the MCX, Crude oil futures, for the Nov 2015 contract, closed at Rs 3,033 per barrel, down by 1.14 per cent, after opening at Rs 3,052, against the previous close price of Rs 3,068. It touched an intraday low of Rs 3,007.

 

 

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Chilly Weather Outlook Bolsters Natural Gas

Natural Gas futures soared by over 1.8 per cent in the domestic market on Friday as investors and speculators booked New positions in the energy commodity tracking a firm trend in the overseas market as forecasts for chilly weather across key US gas consuming nations bolstered the demand outlook for the heating fuel.

 

Latest weather forecasting models called for a cold front to hit northern US in mid-November, which may boost demand for gas-fired heating.
 

About 49 per% of United State households use natural gas for heating purposes.


At the MCX, Natural Gas futures for November 2015 contract closed at Rs 152 per mmBtu, up by 1.81 per cent, after opening at Rs 148.7, against the previous closing price of Rs 149.3. It touched an intra-day high of Rs 152.9.


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Zinc Tumbles On Demand Fears

Zinc futures plunged by more than 1 % t in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc from the domestic spot market.

 

Further, a gloomy demand outlook from China, the world’s biggest metals consumer, with China’s economy engulfed in the worst slowdown since the global financial crisis continued to mar sentiment.
 

Fears that policy tightening in the US may also impact demand for metals adversely from the world’s big economy also weighed on sentiment. The Fed on Wednesday signaled that it is getting ready to move to Get interest rates for the first time in almost a decade, and could do so as early as December.
 

Traders cast aside robust Euro area data which showed that a gauge measuring economic sentiment in the region soared to a four-year high at 105.9 in October.
 

At the MCX, Zinc futures for October 2015 contract closed at Rs 110.75 per 1 kg, down by 1.16 per cent after opening at Rs 112, against the previous closing price of Rs 112.05. It touched the intra-day low of Rs 110.6.

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Natural Gas plunges nearly 4% head of storage Data

Natural Gas futures sank almost 4 per cent in the domestic market on Wednesday as investors and speculators exited positions in the energy commodity tracking a bearish trend in the overseas market as traders stuck to a cautious stance ahead of the weekly storage data due on Thursday which may signal the strength of the demand for the fuel in the US, the world’s biggest gas consumer.
 

The EIA may on Thursday show 75 billion cubic feet build in storage levels in the week ended October 23, 2015.
 

Unusually warm weather readings have reduced the demand for the heating fuel at the start of the winter season. About 49 per cent of US households use natural gas for heating purposes.
 

At the MCX, Natural Gas futures for November 2015 contract closed at 149.10 Rs per mmBtu, down by 3.93 per cent, after opening at Rs 155, against the previous closing price of Rs 155.2. It touched an intra-day low of Rs 147.9.

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Chana prices closed lower by 2.43 per cent on Tuesday

Chana prices closed lower by 2.43 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for November 2015 contract closed at Rs. 4,6 89per quintal, down by 2.43 per cent, after opening at Rs. 4,806 against the previous closing price of Rs. 4,806. It touched the intra-day low of Rs. 4,614.

India is the largest producer of chickpea followed by Pakistan, Iran. Turkey . India produces around 6 to 8 million tonnes and contributes around 70 % of the total world production.

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Crude Oil Futures Slid Over 1.7 % in the Domestic Market

Crude oil futures slid over 1.7 per cent in the domestic market on Monday as investors and speculators exited positions in the energy commodity amidst fears that a slowing global economy may curb the demand for the fuel. 

 

A surprise rate cut by China on Friday and speculation that the country may be shying away from its 7 per cent official economic growth target for 2015 signaled a gloomy demand outlook for the fuel, spooking oil traders. The People’s Bank of China on Friday cut interest rates for a sixth time since November as the key lending rate was slashed by 25 basis points while the reserve requirement ratio was cut by 50 basis points. Meanwhile, sales of new homes in the US plunged to the lowest level in ten months in September while a regional factory gauge shrank, signaling a slowdown in the world’s biggest economy, darkening the demand outlook for the fuel. US new home sales slipped by 11.5 per cent to a 468,000 annualized pace in September from the prior month. The gauge measuring manufacturing activity in Dallas fell to -12.7 in October from -9.5 in September, with a reading below 0 signaling contraction. Meanwhile, a deceleration in the fall in the weekly US oil rig count signaled an end to the US production slowdown, threatening to aggravate a global supply glut. The number of rigs drilling for oil in the US fell the least in eight weeks, down by 1 to 594 in the week ended October 23, Baker Hughes said.

Oil may trade on a cautious note today ahead of key US data including durable goods orders, home prices, services PMI and consumer confidence, which may shape the demand outlook for the fuel in the world’s biggest oil consumer.

At the MCX, Crude oil futures, for the November 2015 contract, closed at Rs 2,877 per barrel, down by 1.71 per cent, after opening at Rs 2,930, against the previous close price of Rs 2,927. It touched an intraday low of Rs 2,870.

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Maize Ends Higher On Rise in Demand

Maize prices closed higher by 0.5 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At the NCDEX, maize futures for November 2015 contract closed at Rs. 1,420 per quintal, up by 0.5 per cent, after opening at Rs. 1,409 against the previous closing price of Rs. 1,413. It touched the intra-day high of Rs. 1,425.
USA, China and Brazil are the top three maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan, EU, Malaysia, Taiwan, Indonesia etc.

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Jeera Ends Lower On Weak Demand

Jeera prices closed lower by 1.54 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for November 2015 contract closed at Rs. 16,005 per quintal, down by 1.54 per cent, after opening at Rs. 16,290 against the previous closing price of Rs. 16,255. It touched the intra-day low of Rs. 15,820.
 

Commodity markets were closed on October 22, 2015 on account of Dussehra, also known as Vijayadashmi.
 

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
 

India exports Jeera mainly to the US, UK, UAE, Japan, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

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Natural Gas spikes on cold weather outlook

Natural Gas futures surged more than 1 per cent in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity tracking gains in the overseas market as forecast for a cold blast in the US Northeast signaled upbeat demand outlook for the heating fuel.
 

Latest weather forecasting models called for extremely cold temperatures to hit the northern US through October 21, bolstering the need for gas-fired heating.
 

About 49 per cent of US households use natural gas for heating purposes.
 

At the MCX, Natural Gas futures for October 2015 contract closed at 159.9 Rs per mmBtu, up by 1.4 per cent, after opening at Rs 158.8, against the previous closing price of Rs 157.7. It touched an intra-day high of Rs 161.4.

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Chana prices closed higher 1.72 percent

Chana prices closed higher 1.72 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for October 2015 contract closed at Rs. 5,251 per quintal, up by 1.72 per cent, after opening at Rs. 5,290 against the previous closing price of Rs. 5,162. It touched the intra-day high of Rs. 5,290.


Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.


India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

 

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Jeera Ends Lower On Surge In Stocks

Jeera prices closed lower by 1.34 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for Oct 2015 contract closed at Rs. 16,200 per quintal, down by 1.34 per cent, after opening at Rs. 16,270 against the previous closing price of Rs. 16,420. It touched the intra-day low of Rs. 16,075.
 

Global output of Jeera is around 2.2 lkh MT/ year, of which India produces about 1.5 lkh MT / year.
 

India exports Jeera mainly to the US,Bangladesh, UK,Singapore. UAE, Japan, Brazil, , and many other countries. Other Major exporters are Syria and Turkey.

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Cardamom Drops 3.78% on Adequate Arrivals on 14 of Oct

Cardamom prices fell by 3.78 per cent on Wednesday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for October 2015 contract were trading at Rs. 790 per kg, down by 3.78 per cent, after opening at Rs. 790 against the previous closing price of Rs. 821. It touched the intra-day low of Rs. 790 till the trading. (At 10.45 AM today). Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity.

 

Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

 

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Crude oil futures Tanked over 4 % in the Domestic Market

Crude oil futures tanked over 4 per cent in the domestic market on Monday, registering their biggest single-day drop since September 1 in the overseas market as investors and speculators pressed the sell-off button in the energy commodity after a report showed that the OPEC, the cartel that controls around 40 per cent of global crude oil supplies, continued to pump output at swift rates despite falling prices, signaling no end to the ongoing supply glut.

OPEC’s production climbed by 109,000 barrels per day to 31.57 million barrels per day in September, signaling the reluctance on part of member nations to curb output as they bid to protect market share. However, some relief was offered in the form of a forecast for a maiden drop in US crude output in eight years in 2016.

OPEC predicted lower non-OPEC supply growth of 720,000 barrels per day in 2015, down by 600,000 barrels per day from its earlier forecast and below last year’s levels.

Oil may extend losses today after China’s imports plunged for the eleventh month on the trot, dropping 17.7 per cent, year on year in yuan terms in September, marking the longest losing streak in six years, while exports fell 1.1 per cent, signaling more pain for the world’s second biggest economy, darkening the demand outlook for the fuel.

At the MCX, Crude oil futures, for the October 2015 contract, closed at Rs 3,075 per barrel, down by 4.06 per cent, after opening at Rs 3,205, against the previous close price of Rs 3,205. It touched an intraday low of Rs 3,067.

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Gold futures Notched up Impressive Gains in the Domestic Market

Gold futures notched up impressive gains in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal amidst speculation that the US Federal Reserve may push back the timetable for raising interest rates in the world’s biggest economy, for the first time in almost a decade, bolstered the lure for the bullion as a store of value.  

FOMC minutes released on Thursday signaled caution on part of policymakers over raising interest rates despite an improvement in the US economy, as spillovers from a struggling Chinese economy threaten to hit other emerging markets.  

Fed Vice Chairman Stanley Fisher said that a 2015 rate hike was an expectation, but not a commitment, with considerable uncertainties surrounding US economic outlook amidst slowing global growth which may hit exports, low investment due to a collapse in oil prices and recent dismal jobs growth data.  

A weaker dollar also boosted the demand for Gold as alternative asset. Weaker greenback makes Gold cheaper for those holding other currencies, thus bolstering demand.  

Gold may extend a rally on Monday on delayed Fed policy tightening hopes as traders eye comments from two key Fed officials.
 

At the MCX, Gold futures for December 2015 contract closed at Rs 26,622 per 10 gram, up by 0.67 per cent after opening at Rs 26,424, against the previous closing price of Rs 26,446. It touched the intra-day high of Rs 26,696. 

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Jeera closes higher as traders increased holdings

Jeera prices closed higher by 0.25 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for October 2015 contract closed at Rs. 15,830 per quintal, up by 0.25 per cent, after opening at Rs. 15,795 against the previous closing price of Rs. 15,790. It touched the intra-day high of Rs. 15,910. 

Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries.

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.


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