Aluminium trading range for the day is 113.9-116.3.Aluminium gains tracking LME prices gaining by 0.40% but prices dropped on weekly basis reflecting dollar strength and waning fund interest.Recent growth in aluminum ingot arrivals into major consumer markets was contributed mainly by trucks.LME aluminium cancelled warrants rose 15,100 tonnes to 783,500 tonnes after 5,000 tonnes were booked for removal.
Naturalgas trading range for the day is 180.4-201.Natural gas prices gained amid forecasts of approaching cooler weather that could bring more demand.Warm weather throughout the fall has raised concerns about anemic demand, with natural gas storage currently at a record high.The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 30 billion cubic feet.
Jeera trading range for the day is 17015-17705.Jeera prices dropped driven by a weak trend at spot market amid lack of availability of smaller denomination notes.Jeera crop is expected to be good in 201617 due to higher prices realization by the farmers during last year.NCDEX accredited warehouses jeera stocks dropped by 27 tonnes to 986 tonnes.In Unjha, a key spot market in Gujarat, jeera edged down by -38.75 rupees to end at 18180 rupee per 100 kg.
Turmeric trading range for the day is 6982-7146.Turmeric prices gained on expectations of rise in demand amid lower arrivals.However the reports of good production from new season crop limited the upside.NCDEX accredited warehouses turmeric stocks gained by 10 tonnes to 2649 tonnes.In Nizamabad, a major spot market in AP, the price ended at 7580 rupees gained 51.05 rupees.
Soyabean trading range for the day is 3044-3110.Soyabean prices traded in the range due to crunch in liquidity stockiest buying was muted and on higher supplySOPA 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 3570 tonnes to 65928 tonnes.At the Indore spot market in top producer MP, soybean gained 7 rupee to 3048 rupee per 100 kgs.
Menthaoil trading range for the day is 950.7-1007.7.Mentha oil spot at Sambhal closed at 1073.00 per 1kg. Spot prices is down by Rs.-2.00-.Mentha oil prices gained taking cues from less arrivals in the major physical markets.As per local sources, during last three weeks around 20 percent arrivals have decreased in the spot also supporting prices.Exports of mint products stood at 21,150 tonne in FY16 valued at RS. 2,577.59 crore against 25,750 tonne valued at RS. 2,689.25 crore in FY15.
Nickel trading range for the day is 723.3-770.7.Nickel dropped on profit booking as traders decided a rally driven by U.S. president-elect Trumps economic policies was overdone, for now.Nickel ore inventories at seven major Chinese ports were 10.45 million wmt over this past week, down 370,000 wmt on a weekly basis.Smelting fees tend to fall when ore supply decreases as smelters are forced to offer competitive rates to win business. C
Zinc trading range for the day is 166.8-177.8.Zinc prices gained on short covering amid speculative flows despite the dollar soared to a 14-year high.ILZSG recent session revealed global demand for refined zinc metal will increase a little more than a half percent this year.Combined zinc inventories in Shanghai, Tianjin and Guangdong added 4,500 to 240,500 tonnes this past week
Copper trading range for the day is 364.5-377.7.Copper dropped as the dollar soared to a 13-12-year high after Feds Yellen signalled U.S. interest rates could rise relatively soon.Going forward, indications of a relatively balanced copper market next year could support prices.Chinas biggest copper smelter, Jiangxi Copper, has agreed to a 5 percent drop in fees to process concentrate for Freeport-McMoRan Inc in 2017.
Crudeoil trading range for the day is 3066-3210.Crude oil dropped amid strong dollar but gains on weekly basis buoyed by growing expectations that OPEC will find a way to cap production.OPEC is moving closer to finalizing its first deal since 2008 to limit output, with most members prepared to offer Iran flexibility on production volumes.Iran has been the main stumbling block for capping production.
Silver trading range for the day is 39877-40893.Silver prices dropped as the dollar rallied amid mounting expectation for higher U.S. interest rates.Federal Reserve policymaker James Bullard is leaning towards supporting an interest rate increase in December.Holdings at ishares silver trust dropped by 1.70% i.e. 188.84 tonnes to 10891.89 tonnes from 11080.73 tonnes.
Gold trading range for the day is 28712-29112.Gold dropped as the dollar surged to its highest in more than 13-12 years on expectations for a U.S. rate hike next month.Trumps election has done nothing to change the Feds plans for a rate increase relatively soon, Yellen said in Congressional testimony.SPDR Gold Trust, said its holdings fell 0.58 percent to 915.29 tonnes on Friday from 920.63 tonnes on Thursday.