SEBI Registration NO.---- INA000001530 Investment in stock and commodity market are subject to market risk. Please do not trade on those tips which are not provided through SMS or messenger.

Commodity Important Updates for 4 Nov 2016

Commodity Important Updates for 4 Nov 2016

Aluminium trading range for the day is 113.6-116.6.Aluminium prices gained underpinned by an easing in the dollar and amid record low aluminum stocks in Chinas five major markets. Aluminum available in the market comes mainly from imported aluminum in bonded zone, given low stocks of domestic aluminum. The Chinas Caixin October services PMI at 52.4 was close to forecast of 52.5 and up from 52.0 in the previous month.

Naturalgas trading range for the day is 179.2-193.6.Natural gas dropped as warmer-than-average temperatures have weighed despite storage supplies storage in U.S. rose slightly less than forecast The U.S. EIA said in its weekly report that natural gas storage in the U.S. rose by 54 billion cubic feet. Total U.S. natural gas storage stood at 3.963 trillion cubic feet, just 1.2% higher than levels at this time a year ago.

Jeera trading range for the day is 17200-17970.Jeera prices gained on account of rising domestic as well as exports demand at the spot market. Good sowing prospects for jeera in Gujarat and Rajasthan are pressurizing the prices as the sowing season is about to commenced. NCDEX accredited warehouses jeera stocks dropped by 36 tonnes to 1497 tonnes. In Unjha, a key spot market in Gujarat, jeera remains unchanged at0 rupees to end at 17466.65 rupee per 100 kg.

Turmeric trading range for the day is 7054-7302.Turmeric prices gained due to good demand from the upcountry buyers. Expectations of increasing production in coming harvesting season and lowering export demand in recent months are putting pressure on prices. NCDEX accredited warehouses turmeric stocks dropped by 76 tonnes to 2957 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7558.3 rupees gained 11.45 rupees.

Soyabean trading range for the day is 3131-3185.Soyabean prices ended with gains on improved demand from China despite of increasing supplies as markets resumes trading activity. Arrivals yesterday increased to nearly 560,000 bags as compared to 100,000 bags during previous session. NCDEX accredited warehouses soyabean stocks gained by 2477 tonnes to 23952 tonnes. At the Indore spot market in top producer MP, soybean gained 10 rupee to 3062 rupee per 100 kgs.

Menthaoil trading range for the day is 915.5-954.1.Mentha oil spot at Sambhal closed at 1058.40 per 1kg. Spot prices is down by Rs.-6.60-.Mentha oil dropped amid subdued demand from major consuming industries at the domestic spot market. Further, sufficient stocks position on higher supplies from producing regions, too added pressure on mentha oil prices. Exports of mint products stood at 21,150 tonne in FY16 valued at RS. 2,577.59 crore against 25,750 tonne valued at RS. 2,689.25 crore in FY15.

Nickel trading range for the day is 689.3-709.9.Nickel gained supported by a weaker dollar and buying from computer-driven speculative funds. Prices received support from data showing Chinas services sector grew at the fastest pace in four months in October as new business picked up. Nickel daily stocks at Shanghai exchange came down by 505 tonnes.

Zinc trading range for the day is 160.1-168.7.Zinc prices gained supported by Chinese economic data that pointed to robust demand for industrial metals. Prices also seen supported on supply concerns after Glencore shuttered its Black Star mine in Australia. The ILZSG continues to anticipate that the supply of refined zinc metal will be constrained by a sharp reduction in the availability of zinc concentrates.

Copper trading range for the day is 326.1-335.5.Copper gained hitting a three-month high supported by a weaker dollar and buying from computer-driven speculative funds. Chinas services sector grew at the strongest pace in four months in October as new business picked up. Chinas copper concentrate imports transit the Port of Xiamen witnessed steady growth in the first nine months of this year.

Crudeoil trading range for the day is 2903-3107.Crude oil dropped triggered by a surge in U.S. crude inventories and doubts over the ability of producers to coordinate output cuts. Data showed stocks of oil in the US had risen by a record amount last week, adding negative sentiment. U.S. crude stockpiles soared by more than 14 million barrels last week, the largest weekly build up since the U.S. EIA started keeping records in 1982.

2
 
error: Content is protected !!