Aluminium trading range for the day is 103.9-106.3.Aluminium prices gained amid signs that demand may improve in China Aluminium stocks at three major Japanese ports stood at 304,200 tonnes at the end of August, down 0.6% from previous month. Aluminium LME stocks have declined almost 24 per cent year to date and at 2.2 million tonnes are at lowest level since December 2008.
Naturalgas trading range for the day is 189.9-202.9.Natural gas prices gained after weather reports suggested more heat and high demand for gas-fired power throughout September. A weekly storage update showed a smaller-than-normal addition to storage for this time of year. Natural gas stockpiles totaled 3.5 trillion cubic feet, 5.6% above levels from a year ago and 9.3% above the five-year average for same week.
Jeera trading range for the day is 17540-18040.Jeera prices gained on account of expectation of fresh export demand coupled with tight supply from the producing belts. As per fourth advance estimate of Gujarat State for 2015-16, jeera production is pegged at 238,000 ton as against 197,000 ton a year ago. NCDEX accredited warehouses jeera stocks dropped by 108 tonnes to 4559 tonnes. In Unjha, a key spot market in Gujarat, jeera edged up by 157.15 rupees to end at 18450 rupee per 100 kg.
Turmeric trading range for the day is 6764-7356. Turmeric prices dropped on account of fall in physical and export demand at the spot market. Though, some losses were capped on reports of lower output due to wet weather in turmeric growing areas. NCDEX accredited warehouses turmeric stocks dropped by 20 tonnes to 7404 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7407.15 rupees remains unchanged at0 rupees.
Soyabean trading range for the day is 3191-3317. Soyabean gained on crop damage concerns from United States and Brazil and on improvement in demand. USDA reported gain of 34.56% in the week ended to Sep 8 compared to the same period a year ago, data showed. Brazil soybean production for 2016/17 is forecast at 101.0 million metric tons compared to 96.5 million last year. At the Indore spot market in top producer MP, soybean gained 47 rupee to 3473 rupee per 100 kgs
Menthaoil trading range for the day is 892.1-907.1. Mentha oil spot at Sambhal closed at 1031.10 per 1kg. Spot prices is down by Rs.-3.00/-. Mentha oil prices dropped amid fall in physical demand from major consuming industries in the domestic spot market. Mentha oil prices have fallen almost since last some period due to the fund crisis in the market and lower Chinese demand for prices. India’s mentha oil output was estimated to remain lower this year from 32,000 tonnes produced during last year.
Nickel trading range for the day is 638.3-660.1. Nickel ended with small gains on short covering, prices dropped by nearly six percent on weekly basis amid fading threat to Philippine mine supply. The results of a mine audit, have been pushed back to Sept. 22. Russian mining giant Norilsk Nickel said it expected nickel prices to rise to about $10,000 a tonne by year-end.
Zinc trading range for the day is 146.2-150.8.Zinc prices continued its weakness on profit booking after prices rallied on worries about shortages due to mine closures. The global zinc market deficit narrowed to 5,000 tonnes in July from an upwardly revised deficit of 53,000 tonnes in June. Nyrstar hedging its zinc output has fed some doubts about whether the rally can be sustained if producers ramp up output.
Copper trading range for the day is 321-326.4.Copper prices remained supported after latest Chinese economic data suggested stronger growth in the next few months. Global copper stockpiles tracked by the LME fell for a fourth day, the longest declining streak since June 22.Investors assessed a mixed bag of U.S. economic data released throughout the week, ahead of U.S. Federal Reserve policy meeting.
Crudeoil trading range for the day is 2842-2946.Crude oil prices ended with losses as rising exports in Iran, Libya and Nigeria sparked fresh supply glut concerns. Irans August crude oil exports jumped 15 percent from July to more than 2 million barrels per day. In addition, Libya said it is resuming oil exports from some of its main ports and has lifted related force majeure contractual clauses.
Silver trading range for the day is 44759-45857.Silver prices dropped as a stronger U.S. dollar and jitters over the path of monetary policy weighed on demand. Retail sales in the U.S. fell by more than expected in the month of August, the Commerce Department revealed in a report showed. Reflecting pullbacks in manufacturing and utilities output, a report on showing that U.S. industrial production fell by more than expected.
Gold trading range for the day is 30715-30983.Gold dropped after data showing faster-than-expected growth in U.S. consumer prices last month helped support the case for Fed to raise interest rates. With an improvement in consumer expectations offset by a deterioration in views of current economic conditions, University of Michigan showed a report. SPDR gold trust holdings gained by 1.11% i.e. 10.39 tonnes to 942.61 tonnes from 932.22 tonnes.