WEEKLY COMMODITY REPORT FOR MARKET

Precious Metals

SILVER

Silver prices fell by 0.90 per cent to Rs 35,563 per kg in futures trade as speculators engaged in reducing their positions largely in tune with a weakening trend overseas. At the Multi Commodity Exchange, silver for delivery in December contracts traded lower by Rs 324, or 0.90 per cent, to Rs 35,563 per kg in business turnover of 947 lots. Similarly, the white metal for delivery in far-month March next year contracts declined by Rs 270, or 0.74 per cent, to Rs 36,445 per kg in business volume of 435 lots. In the international market, silver fell 1.20 per cent to $16.05 an ounce in Singapore, the lowest since November 20. Market analysts said a subdued trend in precious metals in the global markets as crude oil at the lowest level in four years increased prospects for a cooling of consumer prices, reducing demand for an inflation hedge, put pressure on silver futures trade here.

Base Metals & Energy

LEAD

Lead prices eased by 0.20 per cent to Rs 126.65 per kg in futures trade today after speculators reduced their exposures amid a weak trend overseas and subdued demand at spot markets. At the Multi Commodity Exchange, lead for delivery this month shed 30 paise, or 0.20 per cent, to Rs 126.65 per kg in business turnover of 115 lots. On similar lines, the metal for delivery in March shed 15 paise, or 0.10 per cent, to Rs 127.45 per kg in 100 lots. 

CRUDE OIL

Crude oil futures fell 0.16 per cent to Rs 4,320 per barrel today as speculators indulged in reducing their exposures amid a weakening trend in Asian trade where it plunged to over four- year lows after the OPEC cartel refused to cut production. At the Multi Commodity Exchange, crude oil for delivery in far-month January 2015 contracts shed Rs 11, or 0.16 per cent, to Rs 4,320 per barrel in 262 lots. In a likewise manner, oil for December delivery moved down by Rs 8, or 0.15 per cent, to Rs 4,283 per barrel in 2,453 lots. West Texas Intermediate (WTI) crude for January delivery was at USD 69.04, while Brent curde for January traded at USD 72.59 a barrel on the New York Mercantile Exchange in late- morning trade today.

Agro Outlook

CASTOR SEED

Castorseed prices fell by 1 per cent on Friday 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 December 2014 contract was trading at Rs. 4,556 per quintal tonnes, down by 1 per cent, after opening at Rs. 4,590 against the previous closing price of Rs. 4,602. It touched the intra-day low of Rs. 4,525 till the trading. (At 12.36 PM today).

CORIANDER

Coriander prices fell by 0.69 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the adequate stocks availability in the physical market put pressure on coriander prices. At the NCDEX, coriander futures for December 2014 contract were trading at Rs. 12,889 per quintal, down by 0.69 per cent, after opening at Rs. 12,956 against the previous closing price of Rs. 12,979. It touched the intra-day low of Rs. 12,838 till the trading. (At 12.05 PM today).