Naturalgas trading range for the day is 221.4-236.4.Natural gas dropped as investors took a breather from a six-day rally and awaited further clues to demand trends this winter. Expectations for cold weather have pushed natural gas prices higher in recent weeks. Last week, the U.S. EIA reported natural-gas stockpiles declined 2 billion cubic feet, marking the first withdrawal of the winter season.
Aluminium trading range for the day is 115.7-120.1.Aluminium dropped as investors cashed in gains on perceptions that the post-U.S. election run-up in prices had become overstretched. The U.S. economy grew faster than initially thought in the third quarter, notching its best performance in two years. Activity in Chinas manufacturing sector likely held onto a modest expansionary trend this month, a poll showed, as industrial firms continued to benefit.
Turmeric trading range for the day is 7156-7380.Turmeric prices dropped on profit booking on limited demand at the spot market. Though, some losses were capped on expectation of heavy rains in the Turmeric growing areas of Tamil Nadu, Andhra and Telengana. Turmeric prices are seen rising in coming days due to declining stocks at NCDEX accredited warehouses. In Nizamabad, a major spot market in AP, the price ended at 7590 rupees dropped -40 rupees.
Soyabean trading range for the day is 3099-3155.Soyabean prices ended with losses tracking weakness in spot demand and weak overseas cues. Crushers are carrying soybean stock of around 20-25 days so crushing is happening with maximum capacity. NCDEX accredited warehouses soyabean stocks gained by 1266 tonnes to 95191 tonnes. At the Indore spot market in top producer MP, soybean dropped -11 rupee to 3120 rupee per 100 kgs.
Jeera trading range for the day is 18185-19255.Jeera prices dropped on account of profit-booking driven by fall in demand in the spot market. Though, some losses were capped on the back of lower arrival in the mandis from the producing belts and some fresh export enquiries. NCDEX accredited warehouses jeera stocks dropped by 11 tonnes to 177 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -166.05 rupees to end at 18962.5 rupee per 100 kg.
Menthaoil trading range for the day is 947.7-992.7.Mentha oil spot at Sambhal closed at 1072.00 per 1kg. Spot prices is down by Rs.-7.50-.Mentha oil prices ended with losses driven by easing demand at the spot market. Further, ample stocks position on higher supplies from Chandausi in Uttar Pradesh, too weighed on mentha oil prices. Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year.
Nickel trading range for the day is 737.6-798.2.Nickel dropped as sliding oil prices and perceptions that a post-U.S. election rally had become overstretched prompted selling. Japans industrial output rose 0.1 percent in October from the previous month and manufacturers say production likely bounced sharply this month. Chinas NDRC has approved a 247-billion-yuan railway plan to link Beijing to neighbouring cities.
Zinc trading range for the day is 176.3-201.5.Zinc dropped on profit booking as prices struggled to maintain gains in the face a drop in oil prices, which tempered appetite for assets seen as higher risk. Nyrstar is increasing hedge selling for expected zinc output to evade downward pressure for zinc prices. Chinas refined zinc supply peaked at 5.53 million tonnes in 2015 after years of expansion.
Copper trading range for the day is 384.4-402.Copper prices dropped as profit-taking continues and global risk-on sentiment pauses. Chinas imports of refined copper tumbled by 44.7 per cent year-on-year to 189,812 tonnes in October, a new low in three and a half years. Despite a year-on-year drop in October, imports totaled 2.99 million tonnes from January to October, up 3.32 per cent year-on-year.
Crudeoil trading range for the day is 2992-3316.Crude oil dropped on signs leading oil exporters were struggling to agree a deal to cut production to reduce global oversupply. There remains disagreement among OPEC members over which producers should cut by how much. Indonesian Energy Minister Ignasius Jonan said he was not sure OPEC would clinch a deal to limit oil output when it met.
Silver trading range for the day is 39798-41470.Silver gained on short covering after prices dropped as the dollar stabilized after falls in the previous session. Data showed that the U.S. economy grew at a quicker than expected rate in the third quarter, expanding at the fastest pace in two years. Expectations of stronger growth after U.S President-elect Donald Trump takes office in January have also helped equity markets.
Gold trading range for the day is 28497-28933.Gold remained under pressure due to expectations of rising U.S. interest rates and improving sentiment for global economic growth. Also weighing on bullion was a highly anticipated U.S. interest rate hike in December by the Federal Reserve, which is due to next meet on Dec. 13-14.ECB is due to decide next week on whether to extend beyond March its 1.74-trillion-euro bond-buying program.