DAILY COMMODITY REPORT 21st NOVEMBER. 2013
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DAILY COMMODITY REPORT
COMMODITY WRAPUP
21st NOVEMBER. 2013
COPPER
GOLD
Copper markets were in surplus of 163000 tonnes in January-September 2013. The reported stocks declined by 80000 tonnes in Sept 2013, this was after a surplus of 240000 tonnes in full year ending 2012. LME three month Copper prices were trading at $ 6979 per tonne, compared to $ 6956 per tonne. MCX Copper was trading at Rs 436.45 per kg, up Rs 1.3 per kg. At MCX, copper for delivery in Nov traded higher by Rs 1.95, or 0.45%, to Rs 437.05 per kg.
Gold prices recovered by 0.21% to Rs 30,376 per 10 grams in futures trade as speculators created fresh positions even as metal weakened overseas. At MCX, gold for delivery in Dec rose Rs 63, or 0.21%, to Rs 30,376 per 10 gram. The metal for delivery in the Feb moved up by Rs 51, or 0.17%, to Rs 29,731 per 10 gm. fresh positions created by participants amid covering-up of short positions, helped gold futures to trade higher but a weak trend overseas, limited gains.
CRUDE OIL
SILVER
A considerable draw down in the Crude Oil contract open interest and volumes was noted last night. The prices recovered by 0.41% to Rs 5797 per barrel on Tuesday, after five consecutive days of slide. The recovery cannot be said as formidable till the prices are below Rs 5893 and 5900 per barrel. Supports for the contract are at Rs 5756 per barrel. NYMEX light sweet Crude Oil was trading at $ 94.24 per barrel, up 0.35 cents. for the whole year in 2012.
Silver prices rose by 0.48% to Rs 47,105 per kg in futures trading yesterday as speculators enlarged positions despite a weakening trend in global markets. At MCX silver for delivery in March next year rose by Rs 324, or 0.48%, to Rs 47,105 per kg. The white metal for delivery in December traded higher by Rs 196, or 0.43%, to Rs 45,636 per kg in 229 lots. Fresh positions built up by speculators helped silver futures to trade higher but a weak trend overseas limited gains.
SPECIAL NEWS
COMMODITY BUZZ
*The Federal Reserve Chairman Ben Bernanke
â—Š World crude steel production for the 65 countries reporting to the World Steel Association (world steel) was 134 million tonnes (Mt) in October 2013, an increase of 6.6% compared to October 2012. The crude steel capacity utilization ratio for the 65 countries in October 2013 was 77.5% and it is 2.5 percentage points higher compared to October 2012. It is -1.8 percentage points lower than September 2013.
said that the Fed would likely hold short-term rates near zero well after the economy reaches the 6.5% unemployment rate that is the threshold for considering a rate increase. The Federal Reserve would like to move away from using its balance sheet to help the economy and focus more on "forward guidance" about keeping shortterm rates low, but the timing of this shift remains an open question, he said. The taper timing still depended on continued improvement in the labor market and a pickup in inflation toward the central bank's 2% target. Bernanke also said rates could even stay near zero until "the preponderance of the data supports the beginning" of tightening. YOUR MINTVISORY
â—Š NCDEX is launching a new steel futures contract with compulsory delivery with an option to opt for warehouse delivery and direct delivery to be executive by buyers and sellers. Contracts expiring in December 2013, January 2014, February 14 and March 14 will be available for trading from Thursday, November 21, 2013 (Today). Call us at +91-731-6642300
DAILY COMMODITY REPORT
COMMODITY LEVELS
21st NOVEMBER. 2013
DAILY LEVELS WITH TREND % Chg.
OI (in lots)
TREND
30090
-0.60
6295
Consolidate
44900
44996
-0.78
10448
Bearish
5946
5861
5914
+0.31
9021
Bearish
222.20
228.2
222
228.10
+2.02
7346
Sideways
29 NOV 2013
435.60
438.9
435.1
436.4
+0.36
14308
Bearish
NICKEL
29 NOV 2013
851.90
856.20
843.1
845.2
-0.39
9097
Bearish
LEAD
29 NOV 2013
130
130.75
129.3
130.15
+0.19
2669
Bearish
ZINC
29 NOV 2013
116.80
117.60
116.35
116.65
+0.04
2441
Bearish
ALUMINIUM
29 NOV 2013
109.70
110.60
108.9
109.15
-0.46
2344
Bearish
ITEM
Contract
Open
High
Low
GOLD
05 DEC 2013
30331
30482
30032
SILVER
05 DEC 2013
45621
45849
CRUDE
18 DEC 2013
5906
NATURAL GAS
25 NOV 2013
COPPER
Close
SUPPORT & RESISTANCE COMMODITIES
CONTRACT
S2
S1
PIVOT
R1
R2
GOLD
05DEC2013
29751.33
29920.67
30201.33
30370.67
30651.33
SILVER
05DEC2013
44299.33
44647.67
45248.33
45596.67
46197.33
CRUDE
19 NOV 2013
5822.00
5868.00
5907.00
5953.00
5992.00
NATURAL GAS
25 NOV 2013
219.90
224.00
226.10
230.20
232.30
COPPER
29 NOV 2013
433.00
434.70
436.80
438.50
440.60
NICKEL
29 NOV 2013
835.07
840.13
848.17
853.23
861.27
LEAD
29 NOV 2013
128.62
129.38
130.07
130.83
131.52
ZINC
29 NOV 2013
115.62
116.13
116.87
117.38
118.12
ALLUMINIUM
29 NOV 2013
107.85
108.50
109.55
110.20
111.25
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DAILY COMMODITY REPORT 21st NOVEMBER. 2013
RECOMMENDATION GOLD GOLD MCX looks week on charts. Consolidating between range 30500 and 29900. Any fresh breakout of the range will be good buying or selling opportunity. One can trade the range with a strategy to sell on Resistance levels @30400-30500 and buy on Supports @30000-29900. If trades above Resistance @30500 can head towards 30800 and if Sustains below support @29900 can head towards lower levels @29500.
BUY GOLD ABOVE 30500 TGTS 30600/30800 SL 30350 SELL GOD BELOW 29970 TGTS 29870/29700 SL 30100
CRUDE
CRUDEOIL MCX looks strong on charts. For short term buying can be seen in CRUDEOIL MCX. As in International markets WTI-CRUDEOIL is trading near to weekly strong support levels. Swing traders and investors should
hold
long
position
in
CRUDEOIL till it holds 92.50$. Crude oil MCX immediate Resistance is @6100 and immediate support is @5800 levels.
BUY CRUDE MCX ABOVE 5950 TGTS 6000/6050 STRICT SL 5870 SELL CRUDE MCX BELOW 5800 TGTS 5750/5700 STRICT SL 5870
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DAILY COMMODITY REPORT
COMMODITY SPECIAL
21st NOVEMBER. 2013
LME INVENTORY (in tonnes) Change
METALS ALUMINIUM
-8875
COPPER
-1950
LEAD
-525
NICKEL
2700
TIN
Unchanged MOST ACTIVE CONTRACTS BY (VOLUME)
Symbol
Expiry Date
LTP
CRUDE OIL
18-12-2013
5918.00
40,63,83,142.00
68,669
SILVERMICRO
30-11-2013
45119.00
2,85,69,35,080.00
63,320
NATURAL GAS
25-11-2013
227.50
87,53,062.50
38,475
SILVER M
30-11-2013
45104.00
1,56,30,34,016.00
34,654
COPPER
29-11-2013
436.65
1,19,60,716.80
27,392
GOLD M
05-12-2013
30794.00
72,55,37,434.00
23,561
COPPERMINI
29-11-2013
436.70
86,85,963.00
19,890
SILVER
05-12-2013
45085.00
87,80,30,375.00
19,475
GOLD PETAL
30-11-2013
3108.00
5,79,51,768.00
18,646
GOLD
05-12-2013
30130.00
53,83,02,580.00
17,866
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Value (In Lacs) Volume (In Lots)
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DAILY COMMODITY REPORT 21st NOVEMBER. 2013
TIME (ET)
ECONOMIC CALENDER
REPORT
PERIOD ACTUAL
CONSENSUSFORECAST
PREVIOUS
MONDAY, NOV. 18 10 am
Home builders' index
Nov.
56
55
0.5%
0.5%
TUESDAY, NOV. 19 8:30 am
Employment cost index
3Q WEDNESDAY, NOV. 20
8:30 am
Retail sales
Oct.
0.1%
-0.1%
8:30 am
Retail sales ex-autos
Oct.
0.2%
0.4%
8:30 am
Consumer price index
Oct.
0.0%
0.2%
8:30 am
Core CPI
Oct.
0.2%
0.1%
10 am
Business inventories
Sept.
0.3%
0.3%
10 am
Existing home sales
Oct.
5.23 mln
5.29 mln
2 pm
FOMC minutes THURSDAY, NOV. 21
8:30 am
Weekly jobless claims
11/16
N/A
N/A
8:30 am
Producer price index
Oct.
-0.2%
-0.1%
8:30 am
Core PPI
Oct.
0.1
0.1%
8:58 am
Markit flash PMI
Nov.
--
51.8
10 am
Philly Fed
Nov.
15.0
19.8
10 am
Leading indicators
Oct.
--
FRIDAY, NOV. 22 10 am
Job openings
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Sept.
3.9 mln Call us at +91-731-6642300
DAILY COMMODITY REPORT 21st NOVEMBER. 2013
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