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 23 Sept 2016

Commodity Important Updates for 23 Sept 2016

Jeera trading range for the day is 17170-17540. Jeera prices ended with losses tracking lower demand from the physical market. The exports of Jeera in the first three months (Apr-Jun) of 2016-17 is at 44,023 tonnes, higher by 71.7% compared to last year. NCDEX accredited warehouses jeera stocks dropped by 60 tonnes to 4268 tonnes. In Unjha, a key spot market in Gujarat, jeera edged up by 22.75 rupees to end at 18122.75 rupee per 100 kg.

Turmeric trading range for the day is 6740-6956. Turmeric prices gained on forecast of heavy rains in turmeric growing areas. Further, expectation of pickup in demand for old crops ahead of festival season also added support to prices. NCDEX accredited warehouses turmeric stocks dropped by 120 tonnes to 7194 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7408.3 rupees dropped -1.4 rupees.

Soyabean trading range for the day is 3218-3278.Soyabean pared gains on profit booking after seen supported due to forecasts of wet weather in soybean growing states. Heavy rains forecasted during the last week of September, which will affect harvesting. Acreage under soybean in the country was at 114.7 lh, down 1.3% from a year ago as per government data. At the Indore spot market in top producer MP, soybean dropped -8 rupee to 3460 rupee per 100 kgs.

Menthaoil trading range for the day is 866.7-890.9.Mentha oil spot at Sambhal closed at 1019.80 per 1kg. Spot prices is down by Rs.-1.80-.Mentha oil prices dropped driven by sluggish demand from consuming industries at the spot market. Besides, ample stocks position on higher supplies from producing regions also weighed on mentha oil prices. China and Japan have reduced their buying quantity in the recent past due to the economic slowdown had impacted Mint exports

Naturalgas trading range for the day is 195.2-209.2.Naturalgas dropped on profit booking after trades booked there long positions after recent high. EIA recorded an increase of 52bcf, lower than both the expected increase of 59bcf and the 62bcf gain the previous week. Demand conditions have remained favorable with the current spell of hot weather continuing. Natural Gas demand will be LOW over the northern US and MODERATE to HIGH over the southern US.

Aluminium trading range for the day is 104.9-110.1.Aluminium gains amid weakness in dollar as LME Aluminium ended up 3.1 percent at $1,633, its highest since August 31.Japanese manufacturing activity expanded for the first time in seven months in September, a preliminary survey showed. Aluminum daily stocks at Shanghai exchange came down by 401 tonnes. Warehouse stock for Aluminium at LME was at 2153425mt that is down by -8150mt.

Nickel trading range for the day is 685.2-716.6.Nickel gains due to worries about supplies from Philippines, where the government is carrying out an environmental audit of mines. Goldman Sachs has warned that further Philippine suspensions may push ore stockpiles to critically low levels. Global nickel demand exceeded supply in the first half, with a deficit of 80,800 tons compared with a surplus of 45,200 tons in all of 2015.Warehouse stock for Nickel at LME was at 364902mt that is up by 120mt.

Zinc trading range for the day is 150.8-154. Zinc gains gained with most base metals climbed again to a three-week high as the dollar weakened as the Fed stayed pat on interest rates. Chinese imports of zinc ores and concentrates have fallen 32 percent in January-July from last year, according to official statistics. Prices should see diverging trend with focus on September flash manufacturing PMI from US and euro zone and France’s final annualized Q2 GDP. Warehouse stock for Zinc at LME was at 443850mt that is down by -300mt.

2
 
error: Content is protected !!