Aluminium trading range for the day is 115.5-119.5.Aluminium prices dropped tracking LME Aluminium closed down at $1,717 a tonne amid signs of softer demand from China. New residential construction in the U.S. saw a steep drop in the month of November, according to a report. Japanese stocks have been steadily decreasing since reaching a record high of 502,200 tonnes in May 2015.
Jeera trading range for the day is 17075-18015.Jeera prices dropped on profit booking after prices gained amid dwindled supplies and good demand for exports. In 2016-17 Jeera sowing completed around 180300 hectares as compared to last year same period 127600 hectares, as on now. NCDEX accredited warehouses jeera stocks gained by 108 tonnes to 281 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -38.45 rupees to end at 18461.55 rupee per 100 kg.
Turmeric trading range for the day is 6900-7072.Turmeric dropped amid expectation of good crop next season and as damage to the turmeric crop in recent rains is not significant. The availability of good quality is quite low and crop arriving currently is of medium to low quality. NCDEX accredited warehouses turmeric stocks dropped by 556 tonnes to 1372 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7761.25 rupees dropped -25.65 rupees.
Soyabean trading range for the day is 3010-3110.Soyabean prices ended with losses tracking weakness in spot demand amid increase in supplies in December and January. There is an expectation that the arrivals of soybean in the domestic market keeping the supplies more than the demand. NCDEX accredited warehouses soyabean stocks gained by 1924 tonnes to 122131 tonnes. At the Indore spot market in top producer MP, soybean dropped -7 rupee to 3045 rupee per 100 kgs.
Menthaoil trading range for the day is 984.7-1019.7.Mentha oil spot at Sambhal closed at 1069.20 per 1kg. Spot prices is down by Rs.-2.80-.Mentha oil settled up amid increasing demand in the domestic spot market. Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year. Farmers are keeping most of the stocks in their hands. Most buyers are willing to buy at these levels.
Nickel trading range for the day is 743.6-780.4.Nickel prices dropped as pressure seen on prices after update the global nickel market moved to a surplus. Data showed the global nickel market moved to a surplus of 900 tonnes in October from a deficit of 500 tonnes a month before. News that the Philippines government had cancelled permits for another three mines on environmental grounds did little to support the metal.
Zinc trading range for the day is 178.9-192.7.Zinc prices dropped on profit booking triggered by a rising dollar that cast doubt over demand strength and expectations of tighter supply. There is also idle mine capacity that can be reactivated to alleviate the supply deficit. ILZSG data for January-October shows zinc mine output fell 1.9% to 10.887 million tonnes, a drop of some 205,000 tonnes.
Copper trading range for the day is 379-395.2.Copper prices fell as rising stocks in London Metal Exchange warehouses and signs of softer demand from major consumer China. Upbeat economic data from China suggests demand should be positive next year, but rising inventories put the metal under pressure. Mining companies in Peru, are accelerating their production of copper to take advantage of better prices for the red metal.
Jeera trading range for the day is 17075-18015.Jeera prices dropped on profit booking after prices gained amid dwindled supplies and good demand for exports. In 2016-17 Jeera sowing completed around 180300 hectares as compared to last year same period 127600 hectares, as on now. NCDEX accredited warehouses jeera stocks gained by 108 tonnes to 281 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -38.45 rupees to end at 18461.55 rupee per 100 kg.
Turmeric trading range for the day is 6900-7072.Turmeric dropped amid expectation of good crop next season and as damage to the turmeric crop in recent rains is not significant. The availability of good quality is quite low and crop arriving currently is of medium to low quality. NCDEX accredited warehouses turmeric stocks dropped by 556 tonnes to 1372 tonnes. In Nizamabad, a major spot market in AP, the price ended at 7761.25 rupees dropped -25.65 rupees.
Soyabean trading range for the day is 3010-3110.Soyabean prices ended with losses tracking weakness in spot demand amid increase in supplies in December and January. There is an expectation that the arrivals of soybean in the domestic market keeping the supplies more than the demand. NCDEX accredited warehouses soyabean stocks gained by 1924 tonnes to 122131 tonnes. At the Indore spot market in top producer MP, soybean dropped -7 rupee to 3045 rupee per 100 kgs.
Menthaoil trading range for the day is 984.7-1019.7.Mentha oil spot at Sambhal closed at 1069.20 per 1kg. Spot prices is down by Rs.-2.80-.Mentha oil settled up amid increasing demand in the domestic spot market. Sources mentioned that nearly 14500 MT of mint products were exported in six months of the current financial year. Farmers are keeping most of the stocks in their hands. Most buyers are willing to buy at these levels.
Nickel trading range for the day is 743.6-780.4.Nickel prices dropped as pressure seen on prices after update the global nickel market moved to a surplus. Data showed the global nickel market moved to a surplus of 900 tonnes in October from a deficit of 500 tonnes a month before. News that the Philippines government had cancelled permits for another three mines on environmental grounds did little to support the metal.
Zinc trading range for the day is 178.9-192.7.Zinc prices dropped on profit booking triggered by a rising dollar that cast doubt over demand strength and expectations of tighter supply. There is also idle mine capacity that can be reactivated to alleviate the supply deficit. ILZSG data for January-October shows zinc mine output fell 1.9% to 10.887 million tonnes, a drop of some 205,000 tonnes.
Copper trading range for the day is 379-395.2.Copper prices fell as rising stocks in London Metal Exchange warehouses and signs of softer demand from major consumer China. Upbeat economic data from China suggests demand should be positive next year, but rising inventories put the metal under pressure. Mining companies in Peru, are accelerating their production of copper to take advantage of better prices for the red metal.
Read More - Commodity News
0 comments:
Post a Comment