Naturalgas trading range for the day is 222.8-249.4.Natural gas prices continued to rise as cooler forecasts continue raising expectations for demand. The U.S. EIA reported that U.S. natural gas stocks decreased by 50 billion cubic feet for the week ending November 25. Stockpiles remain about 0.6% above their levels of a year ago and 6.3% above the five-year average.
Jeera trading range for the day is 17975-18745.Jeera prices gained due to some fresh export enquiries at the spot market. Current year sowing area reported up in Gujarat also reported on time sowing due to favorable weather. NCDEX accredited warehouses jeera stocks dropped by 6 tonnes to 135 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -52.75 rupees to end at 18885.7 rupee per 100 kg.
Aluminium trading range for the day is 115.8-120.Aluminium prices tracking weakness in LME prices despite Chinas manufacturing PMI increased beyond expectation. LME aluminum stocks dropped to 2,144,850 tonnes and cancelled warrants at 758,625 tonnes were 2,300 tonnes lower. From primary to recycling, total demand for aluminum is increasing by an average of 2% each year, according to figures from European Aluminium.
Menthaoil trading range for the day is 948-996.8.Mentha oil spot at Sambhal closed at 1063.00 per 1kg. Spot prices is down by Rs.-23.90-.Mentha oil prices ended with gains amid pick-up in demand at the spot market. As per local sources, during last three weeks around 20 percent arrivals have decreased in the spot markets. At Barabanki market, total arrivals are at 50 Drums (1-drum-180kg), higher by 20 Drums (1-drum-180kg) as compared to previous day.
Nickel trading range for the day is 753-781.2.Nickel dropped tracking LME nickel closing down 0.4 percent at $11,210 a tonne as speculative positions started to unwind Chinas manufacturing sector expanded at a slower pace in November on softer growth in new orders and production, data from IHS Market showed. British manufacturing sector expanded for the fourth straight month in November, but the pace of growth slowed unexpectedly.
Turmeric trading range for the day is 6878-7022.Turmeric prices gained on receipt of some fresh demand from North India. Further, expectation of heavy rains in the Turmeric growing areas of Tamil Nadu, Andhra Pradesh and Telengana too fuelled the uptrend. Currently the supplies are for medium and poor quality in December till new crop arrives. In Nizamabad, a major spot market in AP, the price ended at 7640 rupees gained 10 rupees.
Soyabean trading range for the day is 3147-3235.Soyabean prices settled flat amid improving arrivals in the physical market and expectations that the peak arrivals will be observed. The SOPA has put Indias soyabean crop at 114.9 lakh tonnes (lt) about 5 per cent higher than the initial crop estimate of 108.8 lt. NCDEX accredited warehouses soyabean stocks gained by 570 tonnes to 98534 tonnes. At the Indore spot market in top producer MP, soybean gained 19 rupee to 3131 rupee per 100 kgs.
Zinc trading range for the day is 182.8-191.8.Zinc prices gained on optimism that demand will increase following strong U.S. economic data. LME zinc cancelled warrants were 4,025 tonnes higher at 78,575 tonnes due to fresh cancellations in New Orleans. The SHFE announced on November 30 that it will implement trading quotas on zinc transactions from December 1.
Copper trading range for the day is 392.3-408.1.Copper settled flat as speculative positions started to unwind on doubts about the sustainability of a post U.S. election rally. Data showed Chinas factory activity expanded modestly in November, while inflationary pressures showed signs of building. Chilean government reported the country’s copper output dropped 11.1% year-on-year to 445,117 tonnes in October.
Crudeoil trading range for the day is 3296-3658.Crude oil gained as prices were boosted after the Organization of the Petroleum Exporting Countries reached an agreement to cut production. Saudi Arabia undertook the largest cut, slashing output by 486,000 bpd and dropping its demand that Iran cut its output Non-OPEC Russia will also join output reductions for the first time in 15 years.
Silver trading range for the day is 40188-41276.Silver prices remained under pressure amid expectations for higher U.S. interest rates. The number of Americans filing for unemployment benefits rose more than expected last week, hitting their highest level in five months. Pending home sales in the U.S. saw a slight increase in the month of October, the National Association of Realtors revealed in a report.
Gold trading range for the day is 27698-28342.Gold fell as a surge in oil prices boosted bond yields, denting interest in non-yielding gold as an alternative investment. Fed: US economy continued to expand across most regions, 7 saw tightening job conditions SPDR gold trust holdings dropped by 1.54% i.e. 13.64 tonnes to 870.22 tonnes from 883.86 tonnes.