Jeera trading range for the day is 18950-19640.Jeera ended with losses on lower domestic and exports demand at the spot market. Furthermore, ample stocks position following higher supplies from major growing regions in Gujarat and Rajasthan too fuelled the downtrend.NCDEX accredited warehouses jeera stocks gained by 357 tonnes to 1293 tonnes.In Unjha, a key spot market in Gujarat, jeera edged up by 80.5 Rupees to end at 19023.35 Rupees per 100 kg.
Turmeric trading range for the day is 6086-6290.Turmeric prices ended with losses due to fall in demand at the spot market.Many traders and farmers expected good sales of turmeric during the peak period, which started a month ago.NCDEX accredited warehouses turmeric stocks gained by 170 tonnes to 3855 tonnes.In Nizamabad, a major spot market in AP, the price ended at 5850 Rupees dropped -12.5 Rupees.
Soyabean trading range for the day is 2939-3001.Soyabean dropped tracking weakness in demand on increasing arrivals in the domestic spot markets. Lack of demand from export and domestic market along with bumper output this year kept bean prices under pressure.NCDEX accredited warehouses soyabean stocks dropped by 2791 tonnes to 154686 tonnes.At the Indore spot market in top producer MP, soybean dropped -19 Rupees to 3081 Rupees per 100 kgs.
Menthaoil trading range for the day is 928.7-952.3.Mentha oil spot at Sambhal closed at 1088.60 per 1kg. Spot prices was down by Rs.-6.00-.Mentha oil prices gained on short covering on the back of pick-up in spot demand.Besides, tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also provided support to mentha oil prices.However the increase in growth and production of synthetic mentha is also hampering the demand.
Aluminium trading range for the day is 124.1-126.5.Aluminium prices settled flat as many aluminum smelters in China were lured to come back online.Goldman Sachs expects aluminium to be at $US2,000 and $US2,100 in six and 12 months time respectively.Data showed aluminum capacity in operation nationwide was less than 31 million tonnes in early 2016, but the figure surged to 36.5 million tonnes at the end of 2016.
Nickel trading range for the day is 586-600.Nickel dropped on worries about demand from top consumer China after its trade data showed falling imports of the metal.Stock of nickel in LME warehouses at 379,338 tonnes account for about 20 percent of global consumption estimated at around 2 million tonnes this year. Chinas imports of nickel between Jan-March at 43,382 tonnes were down 60 percent from the same period last year.
Zinc trading range for the day is 165.4-169.8.Zinc gained tracking rise in LME prices by 0.8 percent ahead of a slew of Chinese industrial reports.Combined zinc inventories in Shanghai, Tianjin and Guangdong decreased 30,200 to 229,300 tonnes last week.Zinc daily stocks at Shanghai exchange came down by 1026 tonnes.
Copper trading range for the day is 362.5-369.3.Copper remained supported as investors turned to riskier assets after centrist Emmanuel Macrons victory in the first round of the French presidential election.Freeport McMoRan Inc is preparing three copper concentrate export shipments from its giant Grasberg mine in Indonesia after a 15-week outage.Zambia added to fears of an over-stocked global copper market. The country announced that it expects copper output to jump 10% to record levels this year
Naturalgas trading range for the day is 200.6-215.2.Natural gas edged higher as traders continued to monitor shifting weather forecasts to assess the outlook for early-spring demand and supply levels.High pressure is expected to dominate the western and southern US with warmer than normal conditions during the period.The EIAs next storage report due on Thursday is expected to show a build in a range between 65 and 75 billion cubic feet in the week ended April 21.
Crudeoil trading range for the day is 3116-3268.Crude oil gains as concerns over rising levels of U.S. crude oil inventories abated, after the EIA reported U.S. crude inventories fell more than expected.The U.S. Energy Information Administration said in its weekly report that crude oil inventories fell by 3.6 million barrels in the week ended April 21.A report by API showed that U.S. crude oil inventories rose by 897,000 barrels in the week to April 21 to 532.5 million barrels.
Silver trading range for the day is 39367-40621.Silver dropped as investors dumped safe-haven assets amid reduced concerns over the French presidential elections.U.S. Treasury Secretary Steven Mnuchin confirmed that the Trump administrations tax plan will include a 15% corporate tax rate.Holdings at ishares silver trust gained by 0.90% i.e. 91.27 tonnes to 10272.97 tonnes from 10181.70 tonnes.
Gold trading range for the day is 28572-28894.Gold fell as investor appetite for riskier assets surged on renewed optimism over the U.S. economy and as political uncertainty in France receded, softening demand.The European Central Bank is set to keep its ultra-easy policy stance firmly in place on Thursday but may acknowledge better growth prospects.Fears that tax cuts would punch another hole in deficit-reduction efforts may weaken the dollar C