Aluminium trading range for the day is 107.3-111.1.Aluminium prices dropped on profit booking after prices gained good demand from Europe, with premiums in that region continuing to trend higher. U.S. Consumer confidence improved, while the service sector survey also came in better than expected. Aluminum daily stocks at Shanghai exchange came down by 1455 tonnes.
Naturalgas trading range for the day is 200.8-207. Natural gas dropped as prices continued to draw support from forecasts showing unusually warm temperatures across most parts. Prices also seen pressure as traders react to the reality that higher summer demand for the commodity is coming to an end. Total U.S. natural gas in storage currently stands at 3.551 trillion cubic feet, according to the U.S. Energy Information Administration.
Jeera trading range for the day is 16935-17555.Jeera prices ended with gains on revival of buying support at lower levels. Prices also seen supported following poor supplies due to fag-end of the season and hopes of good export demand. NCDEX accredited warehouses jeera stocks dropped by 54 tonnes to 4076 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -20 rupees to end at 17850 rupee per 100 kg.
Turmeric trading range for the day is 6806-7322.Turmeric prices gained on forecast of heavy rains in turmeric growing areas. Indias turmeric output in 2016-17 (Jul-Jun) is expected to rise because of better rainfall this season in key growing areas. NCDEX accredited warehouses turmeric stocks dropped by 20 tonnes to 5784 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7482.85 rupees gained 31.4 rupees.
Soyabean trading range for the day is 3154-3222.Soyabean prices pared gains on profit booking after prices gained earlier on supply worries from United States. Soybean 2016-17 production is likely to jump by 36% to 9.5 million tons on improved rains this year.US Soybean Crop Dropping Leaves 68% vs 64%, Harvested 10% vs 13%, Good to Excellent Condition 73% – USDA At the Indore spot market in top producer MP, soybean dropped -39 rupee to 3154 rupee per 100 kgs.
Menthaoil trading range for the day is 837.2-880.6.Mentha oil spot at Sambhal closed at 1005.50 per 1kg. Spot prices is down by Rs.-11.70-.Mentha oil prices dropped amid a fall in physical demand in the domestic spot market. Further, sufficient stocks position on higher supplies from producing regions also added pressure on mentha oil prices. China and Japan have reduced their buying quantity in the recent past due to the economic slowdown had impacted Mint products exports.
Nickel trading range for the day is 669-735.6. Nickel gained to settled with 1% gain as worries about tight supplies were reinforced by the Philippine government. Thirty mines in the Philippines, including 18 nickel producers, have now either been suspended or recommended for suspension. While concerns over slowing demand however are weighing on industrial metals.
Zinc trading range for the day is 149.1-157.3. Zinc gains as support continues after Chinese economic data indicated a firmer tone to the housing market and a revival in factory activity. A recent report from the ILZSG found the global market for refined zinc was in deficit from January to July. Global zinc mine production declined 6.1% during the same period, which mostly was due to substantial reductions in India, Australia, Ireland and Peru.
Copper trading range for the day is 318.6-327.8. Copper prices dropped amid concern about the potential for a rising market surplus due to higher than expected supplies this year. The Federal Reserve can raise interest rates without threatening the U.S. economic recovery, a top Fed policymaker said. U.S. single-family home prices rose slightly less than expected on an annual basis in July.
Silver trading range for the day is 44675-46857.Silver dropped as market sentiment improved amid the view that U.S. presidential candidate Hillary Clinton did better than her rival Donald Trump in debate. The Federal Reserve held off on raising interest rates and scaled back the number of rate hikes it expects next year. U.S. consumer confidence improved, while the service sector survey also came in better than expected.
Gold trading range for the day is 30761-31379.Gold dropped as dollar and stocks gained ground on the view that U.S. presidential candidate Hillary Clinton got the better of rival. U.S. single-family home prices rose slightly less than expected on an annual basis in July, and the year-over-year gain was smaller. SPDR gold trust holdings dropped by 0.22% i.e. 2.08 tonnes to 949.14 tonnes from 951.22 tonnes.