Jeera trading range for the day is 17385-17995.Jeera prices ended with losses as the muted export demand is keeping the prices under pressure as supplies are good.As per data, about 10,688 tonnes of jeera arrived in May 2017 compared to 14,302 May last year. NCDEX accredited warehouses jeera stocks dropped by 78 tonnes to 1203 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -6.85 Rupees to end at 18139.3 Rupees per 100 kg.
Turmeric trading range for the day is 5238-5490.Turmeric prices ended with losses tracking weak demand from exporters. Better crop prospects in view of normal monsoon rains may continue to put pressure on prices. NCDEX accredited warehouses turmeric stocks gained by 114 tonnes to 6797 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5465.65 Rupees gained 35.65 Rupees.
Soyabean trading range for the day is 2676-2828.Soyabean ended with losses amid supplies from domestic as well as overseas markets and good progress of new season crop. Total arrivals in Madhya Pradesh were at 10,000-20,000 bags, in Maharashtra inventories stood at 70,000-80,000 bags. NCDEX accredited warehouses soyabean stocks dropped by 448 tonnes to 99686 tonnes.At the Indore spot market in top producer MP, soybean gained 7 Rupees to 2885 Rupees per 100 kgs.
Menthaoil trading range for the day is 905.3-948.1.Mentha oil spot at Sambhal closed at 1049.00 per 1kg. Spot prices was down by Rs.-11.30-.Mentha oil ended with losses amid muted demand in the domestic spot market. Further, ample stocks position on high supplies from producing belts of Chandausi in Uttar Pradesh, too weighed. Stock positions of Mentha in MCX accredited warehouses were around 3709 drums which is 36 drums less in comparison to previous day.
Aluminium trading range for the day is 122.1-125.3.Aluminium prices dropped as pressure seen amid possible massive production restarts after prices rose recent rally was fueled by production cutbacks. Aluminum ingot stocks in Chinas five major markets increased 23,000 tonnes on a weekly basis and will remain at current highs for the foreseeable future. Roughly 2.17 million tonnes of alumina capacity, which was cut due to environmental issue may come back online once environmental checks end.
Nickel trading range for the day is 559.6-582.Nickel bounced off its weakest level in nearly a year on short covering after prices dropped pressured by weaker iron ore and oil prices. U.S. job growth slowed in May and employment gains in the prior two months were not as strong as previously reported, suggesting the labor market was losing momentum. While Nickel inventories at LME warehouses remain at elevated levels even though they were well below their 2015 peak.
Zinc trading range for the day is 159.7-167.5.Zinc prices fall pressured by weaker iron ore and oil prices plus concern about demand in top consumer China. Zinc prices were also knocked by a jump in available inventories, showing that supplies were adequate despite the closure of major mines last year. On-warrant LME inventories – those not earmarked for delivery and therefore available to investors – climbed by 11 % to 179,325 tonnes.
Copper trading range for the day is 358-372.2.Copper prices ended with losses but prices recovered most of its losses after update Freeports workers extended the strike at the Grasberg mine. Global refined copper production is estimated to have remained essentially unchanged in the first two months of this year with primary production declining by 3%.Chilean government data showed the countrys copper production slid 1.8% year-on-year in April due mainly to strike at the Escondida copper mine.
Naturalgas trading range for the day is 190.6-198.Natural gas prices dropped continuing its weak trend after weekly data on US inventories of the commodity came in higher than expected. Data from the U.S. Energy Information Administration showed that domestic supplies of natural gas rose by 81 billion cubic feet. The EIA said its figures included a reclassification of stocks, which resulted in a decrease of about 4 bcf in one specific region.
Crudeoil trading range for the day is 2968-3186.Crude oil fall on worries that U.S. President Trumps decision to abandon a climate pact could spark more crude drilling in the United States, worsening a global glut. U.S. crude production last week already stood nearly 500,000 bpd above the year-earlier level, straining OPECs efforts to drain a global overhang. Rising output from OPEC members Nigeria and Libya, which are exempt from the deal, is also undercutting the attempt to limit production.
Silver trading range for the day is 39078-40998. Silver gained buoyed by the return of safe haven demand, as the U.S. dollar fell to a seven-month low. Prices also seen supported as an unexpected dip in U.S. job growth, fuelled concerns about the strength of the U.S. economy. Data showed that U.S.job growth slowed in May and employment gains in the prior two months were not as strong as previously reported.
Gold trading range for the day is 28674-29344.Gold prices rose in response to disappointing U.S. non-farm payrolls data that lowered expectations for more aggressive U.S. interest rate increases. Prices also seen supported boosted by demand for safe-haven assets due to political tensions in the United States and Europe. Demand remained tepid in India, the worlds second largest consumer, with dealers offering a discount of up to $1 an ounce to official domestic prices.