Aluminium trading range for the day is 118.4-124.4.Aluminium gained as upbeat manufacturing data from the United States and the euro zone drove a wave of fund buying. Japanese manufacturing activity grew in November at a slightly slower pace than the previous month as growth in new orders eased.Euro zone business activity expanded the most in nearly a year in November on strong manufacturing and buoyant services growth in Germany
Naturalgas trading range for the day is 196.6-217.8.Natural gas prices rose to a three-week high after storage data showed an unexpected decline from record-high inventories.The U.S. Energy Information Administrations weekly update on storage levels showed a fall of 2 billion cubic feet in the week ended Nov. 18.The shift from building inventories to the seasons first withdrawal is a positive sign for natural gas.
Jeera trading range for the day is 17290-18770.Jeera prices gained on expectation of fresh export enquiries from Bangladesh and China. In Gujarat, Jeera sowing completed in around 99,100 hectares as compared to last year acreage of 17,400 hectares.NCDEX accredited warehouses jeera stocks dropped by 524 tonnes to 219 tonnes.In Unjha, a key spot market in Gujarat, jeera edged down by -18.75 rupees to end at 18200 rupee per 100 kg.
Turmeric trading range for the day is 7064-7372.Turmeric prices gained on rising demand from the buyers at the spot market.Turmeric farmers in the Nizamabad may not get expected yields this year due to the heavy rains in the last week of September.NCDEX accredited warehouses turmeric stocks dropped by 10 tonnes to 2489 tonnes.In Nizamabad, a major spot market in AP, the price ended at 7640 rupees gained 27.5 rupees.
Soyabean trading range for the day is 3008-3128.Soyabean prices ended with losses on profit booking even as supplies in the spot market is not picking up.Recently, SOPA has raised the estimate for 2016-17 (Jul-Jun) soybean output in the country to 115 lt from 109 lt estimated earlier.NCDEX accredited warehouses soyabean stocks gained by 1444 tonnes to 90149 tonnes.At the Indore spot market in top producer MP, soybean dropped -12 rupee to 3087 rupee per 100 kgs.
Menthaoil trading range for the day is 892.3-945.7.Mentha oil spot at Sambhal closed at 1050.00 per 1kg. Spot prices is down by Rs.-8.00-.Mentha oil prices dropped amid downtick in physical demand due to sufficient stocks position on higher supplies.According to sources, fears of lower output and rising demand hoarders have started hoarding mentha oil.The total production is expected to be in the range of 35000-37000 tons for this year
Nickel trading range for the day is 763.7-817.1.Nickel gains as supply is tightening with the monsoon season in Surigao, the Philippines, while buying demand remains in place.Indonesia will cut the royalty charged on sales of processed and refined nickel to 2 percent, a mining ministry official said.Global Nickel market reported a deficit of 76,400 tons during January to September this year with apparent demand exceeding production.
Zinc trading range for the day is 172.6-190.6.Zinc gains as LME prices settled up by 2.6 percent at $2,670 on expectations of a pick-up in global manufacturing and infrastructure spending.The brightening economic outlook was further boosted by data showing a jump in consumer sentiment after Donald Trump won the US election.Trumps plans for infrastructure spending, even if successful, would add only modestly to world demand.
Copper trading range for the day is 375.5-407.9.Copper gains as upbeat manufacturing data from the US and the euro zone drove a wave of fund buying that reversed earlier weakness.Copper inventories on the London Metal Exchange continued to slide, down to an 11-week low, providing a positive fundamental outlook.A renewed acceleration of global factory activity suggests commodity markets are entering a stronger environment.
Crudeoil trading range for the day is 3245-3377.Crude oil gains as support seen after the U.S. EIA reported a larger-than-expected U.S. oil inventory drawdown last week. Crude oil inventories fell by 1.25 million barrels last week, the EIA said.Meanwhile, traders continued to ponder a planned output cut by major producers, aimed at reducing a global supply glut and supporting prices.
Silver trading range for the day is 39546-41372.Silver prices fell after the dollar surged to fresh 14-year highs as upbeat U.S. economic reports underlined expectations for higher interest rates. New orders for U.S. manufactured capital goods rebounded in October, driven by rising demand for machinery and a range of other equipment.The number of Americans filing for unemployment benefits rose from a 43-year low last week, the trend in jobless claims remained consistent
Gold trading range for the day is 28414-29432.Gold dropped weighed down by a strong dollar, though bullion could receive support from European political risks in the coming months. Trumps presidential victory has spurred safe-haven buying of physical gold in Europe, traditional bullion holders in US are standing pat. SPDR gold trust holdings dropped by 1.47% i.e. 13.34 tonnes to 891.57 tonnes from 904.91 tonnes. C