✍ MCX DAILY LEVELS DAILY
EXPIRY DATE R4
R3
R2
R1
PP
S1
S2
S3
S4
ALUMINIUM
30 SEP 2015
30 SEP
108
107
106
104
103
102
102
100
COPPER
30 NOV 2015
30 NO
355
350
344
341
339
335
333
328
CRUDE OIL
21 SEP 2015
19 3303 OCT
3214
3125
3078
3036
2989
2947
2858
GOLD
05 OCT 2015
05 27320 OCT
27123
26926
26830
26729
26633
26532
26335
LEAD
30 SEP 2015
30 SEP
115
114
112
110
110
109
108
106
NATURAL GAS
25 SEP 2015
27 OCT
184
181
178
176
175
173
171
168
NICKEL
30 SEP 2015
30 SEP
681
673.07
664
660
655
651
646
637
SILVER
04 DEC 2015
04 37580 DEC
37068
36556
36314
36044
35802
35532
35020
ZINC
30 SEP 2015
30 SEP
113
110
108
107
106
105
102
115
✍ MCX WEEKLY LEVELS WEEKLY
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
ALUMINIUM
30 SEP 2015
30 SEP
116
112
108
105
104
101
100
96
COPPER
30 NOV 2015
30 NOV
395
378
360
349
343
331
325
308
CRUDE OIL
21 SEP 2015 212015
19 OCT
3667
3454
3241
3136
3028
2923
2815
2602
GOLD
05 OCT 2015
05 OCT
29428
28509
27590
27162
26671
26243
25752
24833
LEAD
30 SEP 2015
30 SEP
121
117
114
111
110
108
107
103
NATURAL GAS
25 SEP 2015
27 OCT
187
183
179
177
175
173
171
167
NICKEL
30 SEP 2015
30 SEP
726
700
675
666
649
640
624
598
SILVER
04 DEC 2015
04 DEC
39536
38315
37094
36583
35873
35362
34652
33431
ZINC
30 SEP 2015
30 SEP
122
117
113
110
108
105
103
98
✍ NCDEX DAILY LEVELS DAILY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
20 OCT 2015
611
600
589
584
578
573
567
556
545
SYBEANIDR
20 OCT 2015
3585
3490
3395
3352
3300
3257
3205
3110
3015
RMSEED
20 OCT 2015
4548
4457
4366
4329
4275
4238
4184
4093
4002
JEERAUNJHA
20 OCT 2015
16771 16521
16271
16143
16021 15893 15770 15521
15271
CHANA
20 OCT 2015
5005
4870
4735
4686
4600
4551
4465
4330
4195
CASTORSEED
20 OCT 2015
4325
4283
4241
4213
4199
4171
4157
4115
4073
✍ NCDEX WEEKLY LEVELS WEEKLY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
20 OCT 2015
627
610
593
586
576
569
559
542
525
SYBEANIDR
20 OCT 2015
3734
3583
3432
3371
3281
3220
3130
2979
2828
RMSEED
20 OCT 2015
4647
4519
4391
4341
4263
4213
4135
4007
3879
JEERAUNJHA
20 OCT 2015
18308 17553
16798
16406
16043 15651 15288 14533
13778
CHANA
20 OCT 2015
5287
5046
4805
4721
4564
4480
4313
4082
3841
CASTORSEED
20 OCT 2015
4484
4387
4290
4238
4193
4141
4096
3999
3902
MCX - WEEKLY NEWS LETTERS INTERNATIONAL NEWS
PRECIOUS METAL � GOLD Gold continued to witness a massive sell off. The yellow metal settled at its lowest price this year, nearing the $1200 per ounce mark and logged its third straight weekly decline. Other precious metals also dropped heavily amid soaring equities and continued strength in the US dollar. Silver tumbled to a four year low, Platinum fell to a fresh 2014 lows while palladium slumped to a three-month low. Gold fell as the US dollar rallied post the Fed decision where it noted that that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions. The FOMC noted that it currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions. In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions since the inception of the current asset purchase program, the Committee decided to make a further measured reduction in the pace of its asset purchases.However, the Fed reassured that a key interest rate will stay near zero for a considerable time after its bond purchases end next month, deferring for now a clear signal on when it will begin to shift away from low-rate policies in place since the 2008 financial crisis. The US dollar broke under 1.2900 mark against the Euro after the Fed statement, testing its highest level against the Euro in 14 months. Dollar also cruised to a six year high against the Japanese Yen and the broad dollar index hit a fresh 15 month high. Demand worries continue to dominate sentiments for gold. China`s gold imports from Hong Kong in July fell by 42% from a month earlier, according to the Hong Kong Census and Statistics Department, media reports quoted. As per the latest Gold Demand Trends report released by World Gold Council, world gold demand for Q2 2014 was 964 tonnes, down 16%year on year from 1,148 tonnes, central bank purchases rose 28 % year on year, to 118 tonnes from 92 tonnes, total bar and coin demand fell by 56% year on year to 275 tonnes from 628 tonnes, ETF outflows were 40 tonnes, a tenth of the outflows seen in the same period last year. Gold rose to a two-month peak on Tuesday as equity market, Iraqi insurgency, Weaker Dollar, and soft German business sentiment data and Softer US Data helped bullion build gains. There was a heavy slate of U.S. economic data released Tuesday, including the S&P/Case-Shiller home price index, the monthly house price index, new residential sales, the Richmond Fed business survey, and the consumer confidence index. However, these reports were not big markets-movers. The yellow metal climbed as investors switched out of equities after Germany's Ifo index of business sentiment fell more than expected in June. The German Ifo consumer sentiment survey came in weaker than expected. The Ifo reading was 109.7 in June versus 110.4 in May. A figure of 110.2 was expected. Worries about the Iraq and Ukraine crisis
weighed on German consumer sentiment. The downbeat Ifo report adds more weight to the notions that the European Union’s economy remains in serious trouble. This is also an underlying supportive factor for the safe-haven gold market. August Comex gold was last up $1.20 at $1,319.60 an ounce. Spot gold was last quoted up $1.20 at $1,320.00. July Comex silver last traded up $0.135 at $21.15 an ounce. In total, 30 companies reduced their delta-adjusted hedge books during the period. This activity was only partially countered by new hedges from other gold miners. Also, little new hedging activity has been reported to have taken place since the end of June. After a brief recovery during the first week of April, gold failed to break above $1220 an oz as the Fed hinted of a June rate hike the following week. Speculation rose marginally amongst money managers, but as cumulative turnover of COMEX gold futures remained subdued, gold came under pressure causing it to trade range bound between $1190 an oz and $1220 an oz. During the first week of July, gold struggled to close above $1170 an oz despite worries Greece would leave the Euro zone. Weak safe-haven bids carried into the second week as fears failed to spillover the US equity market. Over this period, the S&P500 held above a 4-month low, damping gold volatility, the report said.
BASE METALS London copper futures were flat on Tuesday after three days of gains, coming under pressure from renewed signs of economic weakness in Europe but offset by encouraging global growth prospects elsewhere. On Tuesday, the US Consumer Confidence Index rose to 85.2 in June, the highest since January 2008, and new home sales for May also hit a six-month high of 504,000, well above the 440,000 expected. Notably, the upbeat housing data were largely contributed by sharp increase in sales in northeast US. In the euro zone, however, Germany's Ifo index of business sentiment fell to its lowest this year, leaving trading subdued. Nickel fell to a one-week low in London as rising stockpiles signaled ample supplies. Inventories monitored by the London Metal Exchange rose 0.3 percent to 305,388 metric tons, within 0.2 percent of an all-time high reached last week. Three-month copper on the London Metal Exchange was to $6,885($3.12 a pound) a tonne by 0915 GMT from $6,885 at the close on Monday, its highest close in three weeks. On the Comex in New York, copper futures for delivery in September gained 0.1 percent to $3.145 a pound. Nickel for delivery in three months fell 1.6 percent to settle at $18,130 a ton at 5:50 p.m. on the LME, after reaching $18,096, the lowest since June 16. Copper prices rose by 0.28 per cent on Thursday after Japan’s all industries activity index rose more-than-expected last month signaling improving sentiment in the region which raised the demand for the metal. In a report, Japanese Ministry of Economy, Trade and Industry said that Japan’s All Industries Activity Index rose to a seasonally adjusted 0.2 per cent, from 0.5 per cent in the preceding month whose figure was revised up from 0.3 per cent. At the MCX, copper futures for November 2015 contract were trading at Rs.341.10 per 1 kg, up by 0.28 per cent, after opening at Rs. 341.10 against the previous closing price of Rs. 340.15. It touched the intraday high of Rs. 341.70 till the trading.
✍ NICKEL Nickel prices gained 0.74% to Rs 639.50 per kg in futures market today as traders enlarged positions amid a firming trend in the spot market on increased demand from alloy makers. However, a weak trend in select base metals overseas capped the gains. At the Multi Commodity Exchange, nickel for delivery this month gained Rs 4.70, or 0.74%, to Rs 639.50 per kg in a business turnover of 888 lots.Similarly, the metal for delivery in October rose by Rs 5.30, or 0.70%, to Rs 646 per kg in 61 lots. Analysts said besides rising demand from alloy makers at domestic spot markets, covering-up of short positions by speculators also influenced nickel futures here.
✍ LEAD Lead prices weakened by 0.46% to Rs 111 per kg in futures trading today as participants reduced their exposures. Furthermore, sluggish demand from battery makers in the spot market weighed on prices. At the Multi Commodity exchange, lead for delivery in October eased by 45 paise, or 0.46%, to Rs 111 per kg in a business turnover of 17 lots. The metal for delivery in current month shed 35 paise, or 0.32%, to Rs 110 per kg in 485 lots . Market analysts said besides sluggish demand from battery makers in the spot market, a weak trend in copper and other base metals was seen at the London Metal Exchange (LME) after a private gauge of manufacturing in China for September fell to the lowest since March 2009. At the LME, lead declined 1%.
✍ ZINC Zinc futures rose by 1.34 per cent to Rs 109.50 per kg in futures trade today due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 2200 metric tonnes to 597000 metric tonnes as on September 24, 2015. Zinc futures for September 2015 contract, at MCX, were trading at Rs 109.50 per kg, up by 1.34 per cent after opening at Rs. 109.60 against the previous closing price of Rs. 108.05. It touched the intraday high of Rs.109.95 till the trading. (At 4.15 PM today). Sentiment improved further as speculators increased positions in the midst of a strong nd overseas. Besides, high demand in domestic spot markets fulled the uptrend.
✍ ENERGY West Texas Intermediate oil futures ticked higher on Tuesday, after the Wall Street Journal said the Obama administration has cleared the way for exports of a type of ultra-light U.S. oil called condensate. The U.S. Commerce Department has approved plans by two companies, Pioneer Natural Resources Co and Enterprise Product Partners LP, to export condensate in a private ruling, the Wall Street Journal reported on Tuesday. U.S. crude inventories rose by 4 million
barrels to 382.6 million barrels in the week to June 20, while gasoline stocks also climbed data from industry group the American Petroleum Institute showed on Tuesday. Analysts had expected a decrease in crude inventories of 1.6 million barrels, according to a Reuter’s poll. OPEC's commercial oil stocks stand at 57.5 days of forward demand, OPEC Secretary General Abdullah al-Badri said on Tuesday, adding there was no shortage of oil in market. Top oil exporter Saudi Arabia would increase crude oil production to meet demand if there are disruptions in oil supplies, a Saudi oil official said on Tuesday. Saudi Arabia, which currently produces around 9.7 million barrels per day (bpd), has the ability to pump to its full capacity of 12.5 million bpd, the official told Reuters. WTI for August delivery climbed as much as $1.47 to $107.50 a barrel in electronic trading on the New York Mercantile Exchange and was at $106.95 at 10:02 a.m. Sydney time. Brent for August settlement slipped 42 cents, or 0.4 percent, to $114.04 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude traded at a premium of $7.29 to WTI from $8.43 yesterday. Crude oil futures edged higher by Rs 3 to Rs 3,045 per barrel today as speculators went about creating positions amid a firm trend overseas. In futures trading at the Multi Commodity Exchange, crude oil for delivery in November was up by Rs 3, or 0.10%, at Rs 3,045 per barrel, with a business turnover of 122 lots. The oil for delivery in October gained Rs 2, or 0.07%, to Rs 2,985 per barrel in a turnover of 2,443 lots. Analysts said the rise in crude oil futures was largely in tandem with a firming trend in Asia after taking a hit in the previous session in response to a mixed US stock report. Meanwhile, West Texas Intermediate crude prices rose $44.88 while Brent added $0.67% to $48.07 per barrel at the New York Mercantile Exchange.
✍ NCDEX - WEEKLY NEWS LETTERS With the Securities and Exchange Board of India (Sebi) set to regulate commodity derivatives from Monday, it is considering strengthening the norms relating to risk management for agricultural commodities derivatives, which account for a fifth of the overall volumes.The regulator has identified various focus areas, including exchanges playing a bigger role in settlement and delivery, forward trading, spot exchanges and special delivery-based settlements. All commodity exchanges shall ensure guarantee for the settlement of trades, including good delivery. It wants exchanges to become the central counterparty to all deals and guarantee settlements. This is possible when exchanges set up clearing corporations, for which the regulator has given them three years.For agri commodities, exchanges ensure good delivery and settlement but aren’t the central counterparty because of several government norms such as stock limits, as well as quality issues. The National Commodity & Derivatives Exchange (NCDEX), the market leader in agri commodities trading, has a subsidiary called NCDEX e-Markets, earlier known as the NCDEX Spot Exchange. NCDEX e-Markets isn’t a spot exchange; it is an auction platform or a service provider. Both equity exchanges have subsidiaries that offer similar services and should be viewed in that
context. Government enterprises also use the services of such platforms to procure commodities for market operations. Another issue Sebi is understood to have raised is the forwards segment launched by NCDEX and the National Multi-Commodity Exchange of India. In the forwards segments, there are no standardised contracts; buyers and sellers report deals on the exchange’s platform. In case of a default, the loss to other party is made good by paying 90 per cent of the margin collected. Sebi has sought the exchange be made the central counterparty in this case.In the equity derivatives segment, lot sizes have been increased to ensure small investors stay away. The regulator is thinking of taking similar measures for commodity derivatives, too. If that is done, mini contracts of commodities might lose attractiveness, as their size will increase. Some contracts are providing good liquidity and participation from small traders.
✍ CHANA Chana prices fell by 0.86 per cent to Rs 4,521 per quintal in futures trade on monday as participants trimmed positions, triggered by easing demand at prevailing levels in the spot market against adequate stocks.At the National Commodity and Derivative Exchange, chana for delivery in October fell Rs 39, or 0.86 per cent, to Rs 4,521 per quintal with an open interest of 75,000 lots Likewise, the commodity for delivery in November shed Rs 4, or 0.09 per cent, to Rs 4,551 per quintal in 56,870 lots.Offloading of positions by speculators, driven by weak cues from spot market on easing demand against adequate stocks position, mainly led to fall in chana prices in futures trade.
✍ JEERA Jeera futures moved up as traders covered position following tight supply in producing states. Moreover, expectation of fresh export demand too pushed up jeera price in spot. Jeera futures surged due to limited stocks in local mandies coupled with weak monsoon rainfall in major producing states. At the unjha mandi of Gujarat, arrival of the spice was reported at 2,000 bags and price was up by 30 to 2,200-3,200 per 20 kg. About 300 bags arrived in Rajkot APMC and price increased by 25 to 2,450-3,100. On the NCDEX, jeera October contract gained 115 to 16,050 a quintal.
✍ RM SEED Mustard Seed prices closed lower by 0.14 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At the NCDEX, Mustard Seed futures for October 2015 contract closed at Rs. 4,226 per quintal, down by 0.14 per cent, after opening at Rs. 4,225 against the previous closing price of Rs. 4,232. It touched the
intraday low of Rs. 4,214. Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.
� CASTORSEED Castor seed prices fell by 0.64 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for October 2014 contract was trading at Rs. 4,214 per quintal tonnes, down by 0.64 per cent, after opening at Rs. 4,245 against the previous closing price of Rs. 4,241. It touched the intraday low of Rs. 4,190 till the trading. (At 12.40 PM today). Castor oil, extracted from castor seed is the largest vegetable oil exported out of India.
� SOYABEAN Chinese leaders pledged to buy 13.18 million metric tons of U.S. soybeans or about 484 million bushels in deals that represent about $5.3 billion.Iowa farmers are expected to harvest 525.8 million bushels of soybeans this year, about 4 percent more than 2014. It would be Iowa's largest soybean crop, making the state the nation's second-largest soybean producer. Altogether, U.S. farmers will harvest 3.94 billion bushels of soybeans.The size of Thursday's deals was larger than expected and represents about half of China's annual purchases. The Chinese deals comes at a critical time, say experts, shoring up demand for a bin-busting harvest at the same time concerns grow over weakening economies in China and Europe. "This business is valuable to the U.S. soy industry, especially when another bumper is being harvested right around the corner.It probably won't spur prices higher. Even though it's a big buy, it's not that big from China
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