✍ NCDEX DAILY LEVELS DAILY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
20 AUG 2015
622
612
602
598
592
588
582
572
562
SYBEANIDR
20 AUG 2015
3834
3781
3728
3699
3675
3646
3622
3569
3516
RMSEED
20 JUL 2015
4471
4385
4299
4264
4213
4178
4127
4041
3955
JEERAUNJHA
20 JUL 2015
17781 17486
17191
17013
16896 16718 16601 16306
16011
CHANA
20 JUL 2015
4826
4758
4690
4661
4622
4593
4554
4486
4418
CASTORSEED
20 JUL 2015
4334
4275
4216
4178
4157
4119
4098
4039
3980
✍ NCDEX WEEKLY LEVELS WEEKLY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
20 AUG 2015
646
629
612
603
595
586
578
561
544
SYBEANIDR
20 AUG 2015
4341
4136
3931
3800
3763
3726
3595
3521
3316
RMSEED
20 JUL 2015
4680
4518
4356
4292
4194
4130
4032
3870
3708
JEERAUNJHA
20 JUL 2015
19105 18340
17575
17205
16810 16440 16045 15280
14515
CHANA
20 JUL 2015
5126
4968
4810
4721
4652
4563
4494
4336
4178
CASTORSEED
20 JUL 2015
4712
4517
1313
4227
4109
4023
3905
3701
3497
✍ MCX DAILY LEVELS DALLY
EXPIRY DATE R4
R3
R2
R1
PP
S1
S2
S3
S4
ALUMINIUM
30 JUN 2015
115
113
111
110
109
108
107
106
105
COPPER
30 JUN 2015
388
385
382
381
379
378
376
373
370
CRUDE OIL
19 JUN 2015 3988 3944
3900
3878
3856
3834
3812
3768
3724
GOLD
05 AUG 2015 2727 27154 7
27031
26964
26908
26841
26785
26662
26539
LEAD
30 JUN 2015
124
122
120
119
118
117
116
114
112
NATURAL GAS
25 JUN 2015
191
187
182
179
178
175
174
169
165
NICKEL
30 JUN 2015
894
876
858
850
840
832
822
804
786
SILVER
03 JUL 2015 3749 37217 7
36937
36764
36657
36484
36377
36097
35817
ZINC
30 JUN 2015 141
137
136
135
134
133
131
129
139
✍ MCX WEEKLY LEVELS WEEKLY
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
ALUMINIUM
30 JUN 2015
119
116
113
111
110
108
107
104
101
COPPER
30 JUN 2015
427
412
397
388
382
373
367
352
337
19 JUN 2015 4554
4317
4080
3968
3843
3731
3606
3369
3132
GOLD
05 AUG 2015 27939 27592
27245
27071
26898
26724
26551
26204
25857
LEAD
30 JUN 2015
144
136
128
123
120
115
112
104
96
NATURAL GAS 26 MAY 2015
237
217
197
187
177
167
157
137
117
980
936
892
867
848
823
804
760
716
37533
37062
36756
36285
35979
3520
34425
CRUDE OIL
NICKEL
30 JUN 2015
SILVER
05 JUL 2015 39087 38310
MCX - WEEKLY NEWS LETTERS INTERNATIONAL NEWS � China Chinese imports fell for a seventh straight month in May while exports also sank, data showed today, as the world's second biggest economy shows protracted weakness in the face of government easing measures. The disappointing figures also come as leaders try to transform the economy from one where growth is driven by consumer spending rather than government investment and exports. Imports slumped 17.6 percent year on year to USD 131.26 billion, the General Administration of Customs said in a statement. The decline was much sharper than the median forecast of a 10 percent fall in a Bloomberg News poll of economists and followed April's 16.2 percent drop. � G7 Meetings US President Barack Obama urged fellow leaders of the G7 to stand up to "Russian aggression in Ukraine" as he enjoyed a traditional Bavarian welcome ahead of their summit in Germany. One of the many issues G7 leaders would be discussing during their two-day summit was "standing up to Russian aggression," Obama said in opening remarks as he was welcomed by German Chancellor Angela Merkel. In a sign of togetherness designed to show absentee President Vladimir Putin the unity of the G7 over the Ukraine crisis, Obama said ties between the United States and Germany were "one of the strongest alliances the world has ever known." He also hailed the "enduring friendship" between the American and German people in a speech warmly applauded by Bavarians in traditional dress, quaffing beer and munching pretzels. For her part, Merkel praised the United States as an "essential partner" despite occasional "differences of opinion." Traditionally strong US-German ties have been tested by a spying scandal including the alleged tapping of Merkel's mobile phone, and more recently by reports of joint US-German surveillance of European political and economic targets, which has put Merkel under domestic pressure. The US and Germany shared "common values", Merkel stressed, in an apparent reference to Putin whose Russia was expelled from the G7 after Moscow's annexation of Crimea. EU President Donald Tusk, also attending the meeting, said he wanted to "reconfirm G7 unity on sanctions policy" against Russia. Obama and Merkel were speaking in the tiny village of Kruen ahead of the two-day summit at the nearby Elmau Castle. As well as Ukraine, the leaders are also expected to discuss the Greek
debt crisis and the threat posed worldwide by jihadist terrorism. � IMF Policymakers in Asia need to put greater emphasis on "growth-friendly" fiscal policy to sustain growth momentum in the face of demographic changes that could weigh on their economies, a senior official of the International Monetary Fund said. Aging populations and falling birth rates are shrinking labour forces in Asian countries, which will cause economic growth to slow, Mitsuhiro Furusawa, deputy managing director of the IMF, told a forum on fiscal policy on Wednesday. "Sound fiscal management becomes more challenging in the face of these demographic changes because increased spending for aging populations and shrinking tax bases will undermine fiscal soundness," he said. Furusawa said global growth is still modest after the global financial crisis and medium-term prospects are less optimistic for some advanced economies and especially for emerging markets. Japanese Vice Finance Minister Ichiro Miyashita, speaking at the forum, said the country is "surely going to raise" the sales tax to 10 percent from 8 percent in April 2017 as planned.
� BULLION � Gold The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, dipped 0.6% to hit 95.82, moving off Friday's highs of 96.95. The greenback weakened after rallying sharply on Friday after a robust U.S. jobs report bolstered expectations for a rate hike from the Federal Reserve later this year. The Labor Department reported that the U.S. economy added 280,000 jobs in May, well ahead of economists forecast for 220,000. The upbeat data underlined the view that the economy is on track to rebound after a weak first quarter and bolstered expectations that the Fed could start raising rates at its September policy meeting. Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise. Meanwhile, developments surrounding talks between Greece and its international creditors remained in focus. Over the weekend European Commission President Jean-Claude Juncker urged Greek Prime Minister Alexis Tsipras to come up with alternative economic reforms "swiftly" so that negotiations could continue this week. Athens delayed a key debt payment to the International Monetary Fund on Friday after Tsipras
rejected the proposed reforms put forward by the EC as 'absurd'. Also on the Comex, silver futures for July delivery shed 2.7 cents, or 0.17%, to trade at $15.95 a troy ounce. Silver prices fell to $15.93 on Friday, the weakest level since May 1, before closing at $15.98, down 11.9 cents, or 0.74%. Elsewhere in metals trading, copper for July delivery tacked on 0.7 cents, or 0.25%, to trade at $2.699 a pound. On Friday, futures slumped to $2.670, a level not seen since April 23, before inching up 0.5 cents, or 0.2%, to settle at $2.692. Official trade data released Monday showed that China's copper arrivals in May fell 16.3% from a month earlier to 360,000 metric tons. The country's trade surplus widened to $59.5 billion last month from $34.2 billion in April, compared to estimates for a surplus of $45.0 billion. Chinese exports fell 2.5% from a year earlier, while imports tumbled 17.6%, worse than forecasts for a decline of 10.7%. A slowdown in domestic demand indicated a recovery in the broader economy remains fragile and may need further government stimulus. China's economy grew at the slowest pace in six years in the first quarter, underling speculation policymakers will have to introduce further easing measures to jumpstart the economy amid lackluster growth. Since November, the People's Bank of China has introduced a series of stimulus measures, including lowering interest rates three times and cutting the reserve requirement ratios of major banks twice, in order to spur economic activity and boost growth. The Asian nation is the world's largest copper consumer, accounting for nearly 40% of global demand.
✍ Silver Silver futures were trading lower in the domestic market on Friday as investors and speculators exited positions in the precious metal as a pickup in US retail sales signaled a rebound in the world’s biggest economy, prompting the case for the Fed to raise interest rates for the first time since 2006, in the coming months, dimming the lure for the bullion as a store of value. US retail sales surged 1.2 per cent in May 2015 from the previous month, when they climbed a revised 0.2 per cent. At the MCX, Silver futures for July 2015 contract is trading at Rs 36,756 per 1 kg, down by 0.15 per cent after opening at Rs 36,732, against the previous closing price of Rs 36,812.
✍ ENERGY ✍ Natural gas Natural gas prices rose for the first time in four sessions on Monday, as investors returned to the market to seek cheap valuations in wake of recent losses. On the New York Mercantile Exchange, natural gas for delivery in July jumped 7.0 cents, or 2.68%, to trade at $2.660 per million British thermal units during U.S. morning hours. On Friday, natural gas prices slumped
3.6 cents, or 1.37%, to end at $2.590. Prices hit a five-week low of $2.556 on June 4. Futures were likely to find support at $2.556 per million British thermal units, the low from June 4, and resistance at $2.724, the high from June 3. The July natural gas contract declined 2.5 cents, or 1.97%, last week, the third straight weekly loss, as forecasts for mild weather across the U.S. in the week ahead and concerns over ample supplies weighed. Weather forecasting models called for mostly normal temperatures across the U.S. through mid-June, suggesting little demand for the fuel and paving the way for additional hefty inventory builds in the weeks ahead. Spring usually sees the weakest demand for natural gas in the U.S, as the absence of extreme temperatures curbs demand for heating and air conditioning. Meanwhile, the U.S. Energy Information Administration said last week that natural gas storage in the U.S. rose by 132 billion cubic feet, above expectations for an increase of 121 billion and following a build of 112 billion cubic feet in the preceding week. Supplies rose by 118 billion cubic feet in the same week last year, while the five-year average change is an increase of 92 billion cubic feet. Total U.S. natural gas storage stood at 2.233 trillion cubic feet as of last week, 50.7% higher than during the same week a year earlier and 1.0% above the five-year average for this time of year. Last spring, supplies were 55% below the five-year average, indicating producers have made up for all of last winter's unusually strong demand. The EIA's next storage report slated for release on Thursday, June 4 is expected to show a build of approximately 110 billion cubic feet for the week ending June 5. Supplies rose by 109 billion cubic feet in the same week last year, while the five-year average change is an increase of 89 billion cubic feet. Elsewhere on the Nymex, crude oil for delivery in July shed 48 cents, or 0.8%, to trade at $58.63 a barrel, while heating oil for July delivery dipped 0.53% to trade at $1.859 per gallon.
� Crude Oil Crude futures fell sharply on Monday as energy traders continued to react to the long-term ramifications of OPEC's decision last Friday to keep its production ceiling above 30 million barrels per day. On the New York Mercantile Exchange, WTI crude for July delivery fell 1.00 or 1.70% to 58.12, extending a recent skid over the last week. U.S. crude futures traded between 57.88 and 59.12 on a light day of trading. On the Intercontinental Exchange (ICE), brent crude for July delivery dipped 0.69 or 1.07% to
62.62, falling for the fourth time in five sessions. The spread between the international and U.S. benchmarks of crude rose to $4.50, above Friday's level of $4.23.At a semi-annual meeting of its members on Friday in Vienna, OPEC decided to maintain production at its current level – a move which caused crude to spike roughly 1.5% on the session. An outflow of Iranian oil into the global markets is considered to be bearish for crude prices, which has been weighed down by a glut of oversupply in recent months. Traders will also monitor a bid by Indonesia to return to OPEC. Indonesia, which suspended OPEC membership in 2008 when its import level exceeded its amount of crude exports, announced its intention to pursue full membership in the cartel at the meeting.The inclusion of the Southeast Asian emerging nation could help level the global supply-demand balance. Indonesia consumes around 1.5 million barrels of crude per day and is seeking supply agreements with OPEC members in order to import more oil, according to reports. Also on Monday, crude prices slid amid disappointing import and export data in China. In May, the Asian nation's trade surplus widened to $59.5 billion, up from $34.2 billion a month earlier. Exports fell by 2.5% on a year-over-year basis, while imports declined by more than 17%. In terms of crude, Chinese imports fell to 5.47 million bpd a decline of 26% on a year-over-year basis. In April, China became the world's largest importer of crude. Chinese imports fell sharply last month, as the nation's state-owned oil company drew from its enormous stockpiles while its tankers off the Strait of Malacca continued to horde cheaper crude. Energy traders await the release of weekly U.S. crude stockpiles at the middle of this week for further indications on current supply levels. Last Friday, oil services firm Baker Hughes (NYSE:BHI) said that the number of oil rigs nationwide fell by four on the week to 642, the lowest level since August, 2010. It marked the 26th consecutive week of weekly rig declines. Though U.S. shale producers have been forced to slash drilling due to the lower price of crude, they have still maintained high production levels by keeping their more efficient rigs online. The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, plummeted 1.09% to 95.34.
✍ BASE METAL ✍ Copper Copper prices moved further away from a six-week low on Tuesday, after disappointing Chinese inflation data added to speculation policymakers will have to introduce further stimulus measures to jumpstart the economy amid lackluster growth. On the Comex division of the New York Mercantile Exchange, copper for July delivery tacked on 1.2 cents, or 0.43%, to trade at $2.708 a pound during European morning hours after hitting
an intraday peak of $2.715, the most since June 4. A day earlier, copper inched up 0.4 cents, or 0.15%, to close at $2.696. Futures were likely to find support at $2.670, the low from June 5, and resistance at $2.731, the high from June 4. Government data released earlier showed that Chinese inflation for May rose 1.2%, below expectations for 1.3% and down from 1.5% in April. The producer price index fell by a more-than-expected 4.6% last month, underling concerns over the health of the world's second largest economy. Disappointing trade data released on Monday indicated a recovery in the broader economy remains fragile and may need further government stimulus. China's economy grew at the slowest pace in six years in the first quarter, underling speculation policymakers will have to introduce further easing measures to jumpstart the economy amid lackluster growth. Since November, the People's Bank of China has introduced a series of stimulus measures, including lowering interest rates three times and cutting the reserve requirement ratios of major banks twice, in order to spur economic activity and boost growth. The Asian nation is the world's largest copper consumer, accounting for nearly 40% of global demand. Elsewhere, gold futures for August delivery tacked on $3.00, or 0.26%, to trade at $1,176.60 a troy ounce, while silver futures for July delivery rose 7.3 cents, or 0.46% to trade at $16.03 an ounce.
� Zinc Zinc futures fell by 0.66 per cent on Thursday at the domestic markets after US consumer confidence fell 1.7 percentage points in June, declining for the second consecutive month and to its lowest level this year which reduced the demand outlook for the metal. The Thomson Reuters/IPSOS Primary Consumer Confidence Sentiment Index fell to 55.0 in June from 56.7 in May. Zinc futures for June 2015 contract, at MCX, were trading at Rs 136.15 per kg, down by 0.66 per cent after opening at Rs. 137.15 against the previous closing price of Rs. 137.05. It touched the intra-day low of Rs. 1335.90 till the trading. (At 3.50 PM today). Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany. � Lead Lead prices rose by 0.93 per cent on Wednesday at the domestic markets due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 1225 metric tonnes to 154975 metric tonnes as on June 10, 2015. At the MCX, Lead futures, for the June 2015 contract, is trading at Rs 124.60 per kg, up by 0.93 per cent, after opening at Rs 123.60, against a previous close of Rs 123.45. It touched an intra-day high of Rs 124.90 till the trading. (At 3.15 PM today) Prices also rose as
participants enlarged positions taking positive cues from the global market and rising spot demand. ✍ Nickel Nickel futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for Nickel in the domestic spot market. Traders are eying the China industrial output data due for release on Thursday which may show that factory production grew by 6 per cent, year on year in May 2015, up from an annual 5.9 per cent rise in April 2015 and 5.6 per cent in March 2015, which was the weakest growth since 2008. At the MCX, Nickel futures for June 2015 contract is trading at Rs 864.50 per 1 kg, up by 0.78 per cent after opening at Rs 860.80, against the previous closing price of Rs 857.80.
✍ NCDEX - WEEKLY NEWS LETTERS ✍ Refined soya Falling for the third straight day, refined soya oil prices shed 0.33 per cent to Rs 588.80 per 10 kg in futures trade on friday owing to slackened demand in the spot market against sufficient stocks.At National Commodity and Derivatives Exchange, refined soya oil for delivery in August month fell by Rs 1.95, or 0.33 per cent to Rs 588.80 per 10 kg with an open interest of 2,27,290 lots.Similarly, the oil for delivery in June contracts shed 25 paise, or 0.04 per cent to Rs 604.80 per 10 kg in 14,865 lots.Offloading of positions by traders on the back of subdued demand in the spot market against adequate stocks kept pressure on the refined soya oil prices.
✍ Chana Amid profit-booking by speculators after recent gains and subdued spot demand, chana prices eased 0.17 per cent to Rs 4,705 per quintal in futures trade on wednesday.However, lower output estimates this marketing year capped the fall.At National Commodity and Derivative Exchange, chana for delivery in July declined Rs 8, or 0.17 per cent, to Rs 4,705 per quintal with an open interest of 1,69,180 lots.Also, the commodity for delivery in June contracts shed Rs 4, or 0.09 per cent, to Rs 4,645 per quintal in 19,160 lots.Demand in the spot market against adequate stock position mainly led to slide in chana prices.
� Mustardseed Taking positive cues from spot markets on rising demand,mustardseed prices were up by Rs 35 to Rs 4,110 per quintal in futures trading on Tuesday, as participants enlarged their exposures.At the National Commodity and Derivatives Exchangeplatform, mustardseed for delivery in current month, June contracts was trading higher by Rs 35, or 0.86 per cent to Rs 4,110 per quintal, in an open interest of 29,410 lots.In similar lines, most-active delivery in July contracts surged by Rs 30, or 0.73 per cent to Rs 4,150 per quintal, with an open interest of 76,800 lots.Iincreased positions built up by participants, tracking a firm trend at physical marketes, mainly lifted mustardseed prices at futures trade.
� Castorseed Castorseed prices rebounded in futures trading today as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At the NCDEX, castor seed futures for June 2015 contract was trading at Rs. 4,020 per quintal tonnes, up by 0.5 per cent, after opening at Rs. 3,992 against the previous closing price of Rs. 4,000. It touched the intra-day low of Rs. 3,990 till the trading. (At 12.25 PM today). Traders attributed recovery in castroseed prices to emergence of buying at lower levels in spot markets. Castor oil, extracted from castor seed is the largest vegetable oil exported out of India.
� Jeera Jeera prices closed higher by 1.34 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for June 2015 contract closed at Rs. 16,590 per quintal, up by 1.34 per cent, after opening at Rs. 16,470 against the previous closing price of Rs. 16,370. It touched the intra-day high of Rs. 16,470. Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries.
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