Chana trading range for the day is 5403-5663. Chana prices dropped due to impositions of higher margins & corrective measures taken by various states to curb the rising prices of pulses. Import of pulses rose 26 per cent to 5.79 million tonnes (mt) last financial year to meet rising domestic demand NCDEX accredited warehouses chana stocks gained by 31 tonnes to 3398 tonnes. In Delhi spot market, chana dropped by -164.8 rupee to end at 5557.4 rupee per 100 kgs.
Turmeric trading range for the day is 8282-8522.Turmeric prices settled flat due to bumper production of turmeric at the producing regions. Turmeric arrivals have started improving with the emergence of good demand from stockiest. NCDEX accredited warehouses turmeric stocks gained by 15 tonnes to 3709 tonnes. In Nizamabad, a major spot market in AP, the price ended at 8730.45 rupees dropped -11.2 rupees.
Aluminium trading range for the day is 110.5-111.9.Aluminium settled down easing after last week’s gains as markets reopened following a long weekend. Alcoa Inc has agreed a new power deal in Washington State to prevent the closure at the end of June of its 279,000 tonne-per-year Intalco Aluminium smelter. Global demand for Aluminium will continue to remain strong as worldwide supply tightens. Warehouse stock for Aluminium at LME was at 2645725mt that is down by -6750mt.
Naturalgas trading range for the day is 133.5-145.1. Natural gas slid as forecasts showed warmer weather that would curtail demand for the heating fuel. Gas prices surged to a 13-week high on Friday after a segment of Spectra Energy Corp.’s Texas Eastern interstate pipeline ruptured, disrupting supplies. Gas prices have languished near 1990s-era seasonal lows on concern that production from shale formations will fill storage caverns. Though pipeline data in recent months have begun to show output declines, the market is still well supplied.
Jeera trading range for the day is 17205-18245.Jeera prices dropped on profit booking after prices remained supported amid demand from stockiest anticipating fall in output. Assumption of some crop damage due to the extended dry spell in the growing regions of Gujarat and Rajasthan may further support prices. NCDEX accredited warehouses jeera stocks gained by 66 tonnes to 3364 tonnes. In Unjha, a key spot market in Gujarat, jeera edged up by 256.65 rupees to end at 17526.65 rupee per 100 kg.
Soyabean trading range for the day is 3972-4166.Soyabean prices ended with gains following higher prices in international markets as rains in South America likely hurt some crops in Argentina. SOPA has revised down Indias soybean production estimate for 2015-16 5.47% on estimation of lower production in Maharashtra. NCDEX accredited warehouses soyabean stocks gained by 2339 tonnes to 20002 tonnes. At the Indore spot market in top producer MP, soybean gained 27 rupee to 4068 rupee per 100 kgs.
Menthaoil trading range for the day is 861.3-902.1. Mentha oil spot at Sambhal closed at 1016.20 per 1kg. Spot prices is up by Rs.17.60/-. Mentha oil prices gained amid rising demand from consuming industries at the spot market. Further, limited stock positions due to restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also supported. Prices also seen supported in the anticipation that current year production can slip more that 35% due to lower plantings.
Nickel trading range for the day is 621.4-640.4.Nickel dropped as the market adopted a more cautious attitude towards demand growth in China, but losses were limited by the weaker dollar. Rise in export orders to a near 1-12-year high and signs an inventory overhang drag was fading offered hope for the manufacturing sector. The INSG has projected a 49,000-tonne deficit in the nickel market in 2016, an increase from its October forecast of a 23,000-tonne deficit for this year. Warehouse stock for Nickel at LME was at 417438mt that is up by 1686mt.
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