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 Market important Updates for 05 April 2017

Jeera trading range for the day is 18225-19145.Jeera prices gained backed by rising domestic and export demand at the spot market.Production estimates for 2016-17 are lower due to a decline in the jeera acreage in Gujarat.NCDEX accredited warehouses jeera stocks gained by 58 tonnes to 612 tonnes.In Unjha, a key spot market in Gujarat, jeera edged up by 265 Rupees to end at 18290 Rupees per 100 kg.

Turmeric trading range for the day is 6272-6476.Turmeric prices ended with gains on rising exports demand at the spot market. Turmeric output is seen higher at 7 million bags thanks to higher sowing and favorable weather conditions.NCDEX accredited warehouses turmeric stocks gained by 148 tonnes to 1933 tonnes.In Nizamabad, a major spot market in AP, the price ended at 6173 Rupees gained 0.1 Rupees.

Soyabean trading range for the day is 2909-2993.Soyabean prices gained tracking firmness in spot demand on limited supply in local mandis.Prices also seen supported by lower arrivals as farmers are reluctant to sell crop below Rs 2,800 per quintal in local mandis.NCDEX accredited warehouses soyabean stocks dropped by 1015 tonnes to 191823 tonnes.At the Indore spot market in top producer MP, soybean dropped -12 Rupees to 3002 Rupees per 100 kgs.

Menthaoil trading range for the day is 974.2-1008.2.Mentha oil spot at Sambhal closed at 1115.50 per 1kg. Spot prices was down by Rs.-11.70-.Menthaoil prices dropped on fresh selling after the speculation that sowing activity had been increased.The weather looked good and everything seemed fine as of now as farmers are still under stress.Earlier it was estimated that total area under Mentha planting will drop by 20% to 1.75 lakh ha for this season.

Aluminium trading range for the day is 125-127.4.Aluminium dropped on profit booking after prices gained on expectations of a tighter market.China early last month ordered steel and aluminium producers in 28 cities to slash output during the winter months in a bid to curb noxious smog.Focus on falling stocks of aluminium in LME approved warehouses, which at nearly 1.9 million tonnes are down nearly 20 percent since mid-January.

Nickel trading range for the day is 639.4-659.4.Nickel gained dragged up by gains in the steel sector after a cyclone in Australia damaged transport routes for coking coal.Indonesian Mining Ministry official said the ministry has issued export recommendation to allow Antam to export 2.7 million tonnes of nickel ore.PMI data from China showed the countrys factories expanded for a ninth straight month in March but at a softer pace as new export orders

Zinc trading range for the day is 175.1-180.5.Zinc prices bounced after touching a three-week low as investors bet lacklustre demand would recover in China.LME Zinc closed up 1 percent at $2,736, recovering from a low of $2,702, the weakest since March 14, and after falling 2.2% on Monday.A widening of LME zinc spreads indicated adequate supply of refined metal in the market.

Copper trading range for the day is 374.1-378.5.Copper settled with firmness following brighter global manufacturing reportsUnion leader at Southern Copper said company should share more of its profits with workers to avoid an indefinite strike.US manufacturing activity retreated from a 2-12-year high in March amid a decline in production and an inventory drawdown.

Naturalgas trading range for the day is 201.7-218.9.Natural gas gained as traders monitored shifting weather forecasts to assess the outlook for early-spring demand and supply levels.A colder storm will then track across the south-central and eastern U.S. later in the week, which should boost demand.Meanwhile, market participants looked ahead to weekly storage data due on Thursday, which is expected to show a build in a range between 7 and 17 bcf.

Crudeoil trading range for the day is 3272-3360.Crudeoil gained settled above $51 mark for first time in month supported by an unplanned production outage.Support seen as political risk from the launch of a medium-range ballistic missile by North Korea ahead of a summit between US and China.Crude inventories in the U.S. dropped a more than expected 1.83mbls at the end of last week, API said

Silver trading range for the day is 42191-43009.Silver prices gained after the release of mixed economic data while a softer dollar limited selling pressure in the metal.Prices also seen supported benefiting from political uncertainty in Europe, after the UK triggered Article 50 to formally kick off the Brexit process.Holdings at ishares silver trust dropped by 0.32% i.e. 32.39 tonnes to 10241.90 tonnes from 10274.29 tonnes.

Gold trading range for the day is 28842-29232.Gold rose buoyed by a weaker dollar on tepid economic data from the United States.A measure of U.S. manufacturing activity retreated from a 2-12 year high in March amid a decline in production and an inventory drawdown. Hedge funds and money managers raised their net long position in COMEX gold for the second straight week in the week to March 28, U.S. CFTC data.

error: Content is protected !!