Aluminium trading range for the day is 115.6-120.2.Aluminium gains boosted by bets on a rise in infrastructure spending and continued optimism over China demand. Rusal announced recently that its aluminum output and sales both increased during the first nine months of this year. Consumer prices also beat expectations, accelerating to a six-month high, though analysts say the room for further rises is limited.
Naturalgas trading range for the day is 169-183.6.Natural gas fell after data showed that natural gas supplies in storage in the U.S. rose slightly more than forecast last week. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 54 bcf. That compared with a gain of 54 bcf in the preceding week, 54 billion a year earlier and a five-year average build of 38 bcf.
Jeera trading range for the day is 16670-17890.Jeera prices dropped amid favorable climatic conditions on the back of good rains in Gujarat this year and expectations of higher sowing this year. However traders are hoping higher sowing this year because of attractive prices in the market. NCDEX accredited warehouses jeera stocks dropped by 9 tonnes to 1106 tonnes. In Unjha, a key spot market in Gujarat, jeera remains unchanged at0 rupees to end at 18218.75 rupee per 100 kg.
Turmeric trading range for the day is 7038-7274.Turmeric prices ended with gains amid expectations of rise in demand. However upside seen limited as there are reports of good production from new season crops. NCDEX accredited warehouses turmeric stocks dropped by 44 tonnes to 2818 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7547.35 rupees dropped -6.4 rupees.
Soyabean trading range for the day is 2965-3117.Soyabean prices gained on account of the good demand in the spot market against restricted arrivals from producing belts. The SOPA has put Indias soyabean crop at 114.9 lakh tonnes (LT) – about 5% higher than the initial crop estimate of 108.8 LT.NCDEX accredited warehouses soyabean stocks gained by 2615 tonnes to 45197 tonnes.
Menthaoil trading range for the day is 895.1-946.5.Mentha oil spot at Sambhal closed at 1079.50 per 1kg. Spot prices is remain unchangeably Rs.0.00-.Mentha oil prices ended with losses amid fall in demand from major consuming industries in the domestic spot market. Hence, overall mentha oil output for 2016-17 is now revised upwards at 32,000 tonnes. At Sambhal market total arrivals are at 125 Drums (1-drum=180kg), higher by 25 Drums (1-drum=180kg) from previous trading day.
Nickel trading range for the day is 747.2-796.8.Nickel dropped on profit booking after gaining on speculation that U.S. infrastructure spending could jump. LME Nickel prices peaked at $11,900 as robust Chinese demand has broadly supported a price rebound. Euro zone growth will slow next year because its main driver, domestic demand, will decrease as a result of a likely rise in energy prices.
Zinc trading range for the day is 165.1-171.5.Zinc prices gained tracking rally in copper prices after Trumps victory speech included a pledge to spend on rebuilding America’s infrastructure. Peruvian miner Milpo expects to produce about 260,000-265,000 tonnes of zinc this year, maintaining output levels from recent years. Chinas factory prices rose 1.2 percent on-year, the fastest pace since December 2011, after turning marginally positive in September.
Copper trading range for the day is 362.1-386.9.Copper prices soared amid expectations that a Donald Trump presidency could unleash a flood of infrastructure spending. Prices rallied over the past three weeks as traders bet that the global economy may be gaining momentum after a long period of sluggish growth. The run-up in prices surprised many market participants who had expected downward pressure after Donald Trump pulled off a stunning victory.
Crudeoil trading range for the day is 2948-3072.Crude oil dropped after the IEA warned that the market risks running another surplus in 2017 without an output cut from OPEC. The IEA said global supply rose by 800,000 barrels per day in October to 97.8 million bpd, led by record OPEC output. IEA kept its demand growth forecast for 2016 at 1.2 million bpd and expects consumption to increase at the same pace next year.
Silver trading range for the day is 43165-44905.Silver gained as uncertainty regarding the economic policies of new U.S. President-elect Donald Trump helped support the precious metal. The U.S. economy will remain in a low interest rate regime for perhaps two to three more years, St. Louis Federal Reserve President James Bullard. The number of Americans filing for unemployment benefits fell more than expected last week, underscoring the robustness of the labor market.
Gold trading range for the day is 29531-30379.Gold pared gains as markets pondered the economic growth outlook and the timing of a U.S. interest rate hike following the election of Donald Trump. Feds Williams said he still believes gradual U.S interest-rate rises make sense even after the surprise election of Trump as next U.S. president SPDR gold trust holdings dropped by 1.40% i.e. 13.35 tonnes to 941.68 tonnes from 955.03 tonnes.