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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