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Important Commodity Notifications 4 April 2016

Important Commodity Notifications 4 April 2016

Commodity Notifications

CPO trading range for the day is 545.8-557.6.Crude palm oil prices ended with gains on robust demand in export market. Prices of the oil were supported by robust demand after Malaysia palm oil exports during Mar 1-25 jumped 12.57%.Malaysias crude palm oil output and end-February stockpiles fell, a data released by the Malaysian Palm Oil Board showed. Crude palm oil prices in spot market gained by 12.70 rupees and settled at 549.10 rupees.

Soya oil trading range for the day is 643-667.Ref soya oil prices ended with gains on robust demand following improved US soya oil export data. According to USDA export sales report, exports of 34,800 tons were up noticeably from the previous week. Countrys vegetable oils import rose by 28% to 11.10 lakh tonnes last month due to higher shipments of refined plamolein. At the Indore spot market in Madhya Pradesh, soya oil was steady at 633.85 rupees per 10 kgs.

Jeera trading range for the day is 15565-16005.Jeera prices dropped on profit booking after gaining on the back of short supply coupled with good demand from exporters. Before Holi festivals, jeera arrival was reported about 35,000 bags and now it has reduced to 10,000 bags. NCDEX accredited warehouses jeera stocks gained by 221 tonnes to 1360 tonnes. In Unjha, a key spot market in Gujarat, jeera remains unchanged at0 rupees to end at 15320 rupee per 100 kg.

Soyabean trading range for the day is 4019-4261.Soyabean prices ended with gains on supply worries in global market and on robust demand for the crop from China. As per Customs General Administration, Chinas soybean imports for February month jumped 5.8% to 4.51 million tons on year. NCDEX accredited warehouses soyabean stocks dropped by 460 tonnes to 41195 tonnes. At the Indore spot market in top producer MP, soybean gained 31 rupee to 4051 rupee per 100 kgs.

Copper trading range for the day is 313.7-326.7.Copper prices ended with losses as prices seen under pressure after U.S. jobs data raised the prospect of further interest rates increases. Also weighing on prices were downbeat data from Japan, where business sentiment among big manufacturers deteriorated to the lowest in nearly three. Sumitomo Metal Mining Co Ltd, said it planned to produce 445,200 tonnes of electrolytic copper in the fiscal year 2016 that started, up 6.1 percent from a year earlier. Warehouse stock for Copper at LME was at 143400mt that is down by -1350mt.

Zinc trading range for the day is 118.3-126.3.Zinc prices ended with gains citing positive economic indicators from China. Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 11,400 to 415,700 tonnes past week. Mitsui Mining and Smelting Co Ltd, said it plans to produce 12.6 percent more zinc in April-September than it did in the same period last year. Warehouse stock for Zinc at LME was at 435025mt that is down by -525mt.

Naturalgas trading range for the day is 126.6-134.2.Natural gas prices ended with losses continuing its weak trend as oversupply continues to limit any rallies. Pressure also seen after a government report showed the inventory surplus to the five-year average climbed to 51.9 percent last week, the biggest in four years. U.S. Natural gas speculators cut their net short positions in the latest week to the smallest level since December 2014. Lackluster winter heating demand failed to trim the supply overhang, sending prices to lows as gas production from shale basins flooded the market.

Aluminium trading range for the day is 100.5-103.7.Aluminium prices rallied after data showed Chinas factory sector grew for the first time in nine months. Available Aluminium inventories on the LME, which fell by another 25,000 tonnes on Friday, have slid by a fifth over the past three weeks. Japans Aluminium premiums for April-June shipments were set at $115-$117 per tonne, up around 5-6 percent from the previous quarter, on lower local inventories. Warehouse stock for Aluminium at LME was at 2783050mt that is down by -8950mt.

Nickel trading range for the day is 545.3-574.5.Nickel prices ended with losses as pressure continues after U.S. jobs data raised the prospect of further interest rates increases. U.S. employment increased solidly in March and wages rebounded, weighing on prices. The official Chinese PMI unexpectedly rose to 50.2 in March, beating forecasts and above the 50-point mark that separates growth from contraction. Warehouse stock for Nickel at LME was at 431802mt that is up by 150mt.

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