Aluminium trading range for the day is 106.8-109.8.Aluminium dropped with sentiment wobbling because of concerns about Chinese demand. Chinas economy grew 6.7 percent in the third quarter from a year earlier, steady from the previous quarter. The Chinese economy remained stable in the first three quarters of this year, the National Bureau of Statistics said in a statement.
Naturalgas trading range for the day is 205.2-220.2.Natural prices dropped as forecasts showed warm weather through the end of October. This year’s gas stockpiles are already high and could possibly set a new record going into the winter.
Jeera trading range for the day is 16135-16755.Jeer prices gained on expectation of rising domestic and export demand at the spot market. Though, some gains were capped as the sowing will soon start in Gujarat and Rajasthan and on hopes of increasing acreage this season. NCDEX accredited warehouses jeera stocks dropped by 63 tonnes to 2836 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -9.7 rupees to end at 17162.5 rupee per 100 kg.
Turmeric trading range for the day is 7078-7418.Turmeric prices ended with gains on expectation of pickup in domestic demand from the upcountry traders ahead of festival season. Besides, the rally was triggered by reports of crop damage across Telangana and Andhra Pradesh, which received incessant rains. NCDEX accredited warehouses turmeric stocks dropped by 10 tonnes to 4051 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7542.95 rupees gained 31.2 rupees.
Soyabean trading range for the day is 3038-3166.Soyabean prices gained on bargain buying at lower level and on improvement in demand from oil millers. However, the climate looks favorable for the harvesting activity to continue at its normal pace. NCDEX accredited warehouses soyabean stocks gained by 801 tonnes to 1865 tonnes. At the Indore spot market in top producer MP, soybean gained 23 rupee to 2967 rupee per 100 kgs.
Menthaoil trading range for the day is 896.4-935.8.Mentha oil spot at Sambhal closed at 1047.60 per 1kg. Spot prices is down by Rs.-9.20-.Mentha oil prices ended with losses on profit booking after prices gained in last couple of sessions. China and Japan have reduced their buying quantity in the recent past due to the economic slowdown had impacted Mint products exports. Hence, overall mentha oil output for 2016-17 is now revised upwards at 32,000 tonnes.
Nickel trading range for the day is 670.5-700.5.Nickel dropped as LME nickel closed down 1 percent at $10,310 as Chinese industrial production data for last month missed forecasts. Data from the International Nickel Supply Group indicated that the global nickel market returned to a balance in late August. On the supply side, world mine output fell 6.9% to 1.3457 million tons in the first eight months of the year, mainly due to a 21% drop in Philippine output.
Zinc trading range for the day is 150.3-155.5. Zinc prices ended with gains tracking LME prices ended at $2,308 a tonne, up 1 percent despite Chinese industrial production missed forecasts. The Chinese government said in its latest five-year industry plan update that Chinas base metals consumption is set to slow over the next four years. LME cancelled warrants was down by 275 tonnes to 34,375 tonnes.
Copper trading range for the day is 308.6-314.8. Copper dropped with Chinas economic growth meeting expectations in the third quarter. Prices also seen under pressure amid talk that Freeport-McMoRan has resumed operations at its Grasberg mine in Indonesia. Copper inventories in LME-registered warehouses stocks rose another 2,625 tonnes as they continued to recover from last week’s five-week low.
Crudeoil trading range for the day is 3343-3555.Crude oil gained after the U.S. EIA reported an unexpectedly large U.S. oil inventory drawdown last week. Crude oil inventories fell by 5.2 million barrels last week, the EIA said. Saudi Arabian Energy Minister Khalid al-Falih said that oil markets were at the end of a considerable downturn as fundamentals were improving.
Silver trading range for the day is 41813-42667.Silver prices remained supported as a batch of mixed data on the U.S. housing market kept up pressure on the dollar. The Commerce Department said U.S. housing starts unexpectedly slumped 9.0% to hit 1.047 million units last month. Holdings at ishares silver trust gained by 0.24% i.e. 26.57 tonnes to 11294.92 tonnes from 11268.35 tonnes.
Gold trading range for the day is 29646-30122.Gold rose as the dollar weakened amid uncertainty around the timing of a U.S. interest rate increase. U.S. inflation, which has under-run the Federal Reserve’s 2-percent target for years, is likely firming, Dallas Fed President Robert Kaplan said. Gold prices in India swung to a premium for the first time in nine months as jewelers and dealers ramped up purchases ahead of major festivals.