SEBI Registration NO.---- INA000001530 Investment in stock and commodity market are subject to market risk. Please do not trade on those tips which are not provided through SMS or messenger.

Commodity Important Updates for 13 Dec 2016

Commodity Important Updates for 13 Dec 2016

Aluminium trading range for the day is 116.4-118.6.Aluminium dropped as investors took profits from gains made last week on renewed signs of economic recovery in China. China exported 4.2 million tonnes of Aluminium products from January to November, a year-on-year drop of 3.1%.Chinas imports grew at the fastest pace in more than two years in November, while exports also rose unexpectedly.

Naturalgas trading range for the day is 228-252.8.Natural gas prices tumbled on forecasts that showed temperatures may not be as cold as previously expected. Natural gas gained heavily in less than month, as an unusually warm autumn gave way to below average temperatures for this time of year. The U.S. EIA reported that natural gas storage levels fell by 42 billion cubic feet during the week ended Dec. 2.

Jeera trading range for the day is 17100-17700.Jeera prices gained amid rising export demand at the spot market despite of reports of higher sowing. Jeera sowing current year completed around 180300 hectares as compared to last year same period 127600 hectares. NCDEX accredited warehouses jeera stocks gained by 6 tonnes to 123 tonnes. In Unjha, a key spot market in Gujarat, jeera edged up by 10 rupees to end at 18510 rupee per 100 kg.

Turmeric trading range for the day is 7080-7216.Turmeric prices ended with gains on rising demand at the spot market. Though, some gains were capped due to the arrival of medium and poor quality turmeric from the producing belts. NCDEX accredited warehouses turmeric stocks dropped by 50 tonnes to 2058 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7742.65 rupees gained 17.65 rupees.

Soyabean trading range for the day is 3025-3075.Soyabean prices dropped tracked by lower prices in international markets on oversupply woes. After facing minor hurdles when arrivals had come to a halt and soybean arrivals have begun picking up. NCDEX accredited warehouses soyabean stocks gained by 2098 tonnes to 110768 tonnes. At the Indore spot market in top producer MP, soybean dropped -9 rupee to 3035 rupee per 100 kgs.

Menthaoil trading range for the day is 323.6-323.6.Mentha oil spot at Sambhal closed at 1052.00 per 1kg. Spot prices is down by Rs.-0.50-.Mentha oil gains amid rising demand in the domestic spot market. Further, tight stocks position on restricted supplies from producing regions of Chandausi in Uttar Pradesh, too supported mentha oil prices uptrend. As on now stock positions of Mentha in MCX accredited warehouses were around 11459 drums which is 27 drums less against the previous day.

Nickel trading range for the day is 754.2-775.Nickel dropped on profit booking after prices seen supported by prospects of falling ore exports from the Philippines. Philippines authorities have said there will definitely be more mine suspensions when the ruling on the 20 facing suspension is released. The market remains buoyant given growing signs that supply constraints in the concentrate market may trickle into the refined market.

Zinc trading range for the day is 179.1-186.9.Zinc prices gained benefitting from a decline in stocks held in London Metal Exchange-listed sheds. The refined zinc market was in deficit of 19,900 tonnes, the ILZSG said, bringing the year-to-date deficit to 251,000 tonnes. Combined zinc inventories in Shanghai, Tianjin and Guangdong added 1,400 to 224,400 tonnes this past week.

Copper trading range for the day is 388.7-395.5.Copper dropped weighed down by a strong dollar and falling stocks, and as investors were tempted to take profits Producer prices in China, rose at the fastest pace in more than five years in November as prices of coal, steel and other building materials soared. ShFE copper inventories fell 2.5 percent from last Friday, while LME copper stocks fell to their lowest since mid-August.

Crudeoil trading range for the day is 3433-3721. Crude oil rallied after major oil producers reached a deal over the weekend to cut output in an attempt to reduce the global supply overhang. OPEC and non-OPEC producers, reached their first deal since 2001 on coordinated production cuts to cut the worldwide glut in oil and drive prices higher. Saudi Arabia has told its U.S. and European customers it will reduce oil deliveries from January.

error: Content is protected !!