Tag: MCX

Yellow metal up on rising demand

Yellow metal up on rising demand

02/08/2017 13:40

Gold futures were trading in the green in the domestic market on Wednesday on account of buying in precious metal by jewellers, retailers and investors.

Analysts said that the gold prices are expected to trade range bound for the day, as downbeat US data weakened the prospect of the Federal Reserve pursuing an aggressive rate hike stance.

At the MCX, gold futures for August 2017 contract is trading at Rs 28430 per 10 grams, up by 0.09 per cent, after opening at Rs 28420, against a previous close of Rs 28404. It touched the intra-day high of Rs 28509 (at 13:38 hours).

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Aluminium futures up 0.29% on upbeat demand

Aluminium futures up 0.29% on upbeat demand

31/07/2017 14:09

Aluminium futures were trading higher during the noon trade in the domestic market on Monday taking positive cues from spot market on pick-up in demand.

Analysts said widening of positions by participants due to pick up in demand from consuming industries in the spot market mainly influenced aluminium prices at futures trade.

At the MCX, aluminium futures for July 2017 contract is trading at Rs 121.50 per kg, up by 0.29 per cent, after opening at Rs 121.35, against a previous close of Rs 121.15. It touched the intra-day high of Rs 122.05 (at 14:15 hours).

Copper futures down 0.16% on subdued demand

Copper futures down 0.16% on subdued demand

28/07/2017 16:35

Copper futures were trading lower during the evening trade in the domestic market on Friday as speculators booked profits at prevailing high levels amid low demand at spot markets.

Analysts attributed the fall to offloading of positions by speculators at prevailing higher levels coupled with subdued spot demand.

At the MCX, copper futures for August 2017 contract is trading at Rs 407.35 per kg, down by 0.16 per cent, after opening at Rs 407.05, against a previous close of Rs 408.00. It touched the intra-day low of Rs 403.50 (at 16:40 hours).

Copper futures rise on pickup in spot demand

Copper futures rise on pickup in spot demand

11/07/2017 14:08

Copper futures were trading higher during the afternoon trade in the domestic market on Tuesday amid pick-up in demand at domestic spot market.

Analysts said pick-up in demand from consuming industries in the spot market mainly supported the upside in copper futures here but weak trend in overseas markets capped the gains.

At the MCX, copper futures for August 2017 contract is trading at Rs 380.40 per kg, up by 0.30 per cent, after opening at Rs 378.80, against a previous close of Rs 379.25. It touched the intra-day high of Rs 381.25 (at 14:15 hours).

Crude oil dips 2.78% on rise in US output

Crude oil dips 2.78% on rise in US output

Crude oil futures plunged over 2 per cent during afternoon trade in the domestic market on Friday as investors and speculators exited their positions in the energy commodity as news of a rise in US production added to earlier reports that OPEC output was also on the rise.

The news of surge in production outweighed positive sentiment from falling crude and gasoline inventories in the US.

At the MCX, crude oil futures for July 2017 contract is trading at Rs 2865 per barrel, down by 2.78 per cent, after opening at Rs 2933, against a previous close of Rs 2947. It touched the intra-day low of Rs 2863 (at 14:14 hours).


07/07/2017 14:17

Nickel futures keep head above water

Nickel futures keep head above water

03/07/2017 17:11

Nickel futures were trading higher during evening trade in the domestic market on Monday as investors and speculators extended their bets in the industrial metal on surging demand from alloy-makers at domestic markets.

The prices of metal also rose on global cues as the market fretted about shortages, dwindling stocks and expectations of strong demand from top consumer China.

At the MCX, nickel futures for July 2017 contract is trading at Rs 611.50 per kg, up by 0.74 per cent, after opening at Rs 608.30, against a previous close of Rs 607. It touched the intra-day high of Rs 612.60 (at 17:07 hours).

ICRA revises India’s cotton outlook to stable from negative

ICRA revises India’s cotton outlook to stable from negative

30/06/2017 12:00

Favourable weather conditions and remunerative prices are expected to improve the cotton supply situation in India in the next one year, ICRA said, revising its outlook for cotton to stable from negative.

The rating agency estimates the domestic cotton output to increase by around 6 per cent to 36 million bales in 2018.

“A few initial weeks of the cotton sowing season have already witnessed increased acreage vis-a-vis last year and the trend is expected to sustain. This is likely to be complemented by the forecast for normal monsoons, with the possibility of El Nino formation gradually waning,” ICRA said.

India’s cotton-spinning industry has been facing twin challenges of subdued demand and high cotton fibre prices as a result of tight cotton availability since the July 2016. Amid a decline in exports to China and subdued domestic demand following the demonetisation drive, the growth in total spun yarn production declined to a five-year low in 2016-17.

“The expectations of higher output in the upcoming cotton season supported by increased sowing and a favourable monsoon forecast is likely to create a downward bias in cotton prices from Q2 FY2018 onwards, vis-a-vis the peak levels witnessed during the past one year. This augurs well for the domestic cotton spinning industry,” said Jayanta Roy, Senior Vice- President and Group Head, Corporate Sector Ratings, ICRA.

According to the rating agency, despite the weakness in production and sales volumes, domestic cotton yarn prices continue to be firm following the high cotton prices. However, the possibility of a further increase in cotton yarn prices is low due to weak export prospects.

Mentha oil futures drop 2.49% on subdued demand

Mentha oil futures drop 2.49% on subdued demand

27/06/2017 17:44

Mentha oil futures fell over 2 per cent during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the agri-commodity amid subdued physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, cut down of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions, influenced mentha oil prices at futures trade.

At the MCX, mentha oil futures for June 2017 contract is trading at Rs 886 per kg, down by 2.49 per cent, after opening at Rs 904, against a previous close of Rs 908.60. It touched the intra-day low of Rs 883.90 (at 17:46 hours).

Yellow metal shines as dollar, US Treasury yields weaken

Yellow metal shines as dollar, US Treasury yields weaken

22/06/2017 14:17

Gold futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal after rising safe-haven demand on the back of easing greenback and weakness in US Treasury yields.

The US Treasury yield curve flattened to almost 10-year lows on Wednesday as investors evaluated the impact of hawkish Federal Reserve policy on the economy even as inflation measures are deteriorating.

At the MCX, gold futures for August 2017 contract is trading at Rs 28680 per 10 grams, up by 0.36 per cent, after opening at Rs 28645, against a previous close of Rs 28577. It touched the intra-day high of Rs 28716 (at 14:06 hours).

Cardamom futures slip 2.29% on sluggish demand

Cardamom futures slip 2.29% on sluggish demand

20/06/2017 17:17

Cardamom futures fell over 2 per cent during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the agri-commodity on plunge in physical demand for cardamom in the domestic spot market. Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions, influenced the downward trend in the domestic cardamom prices. At the MCX, cardamom futures for July 2017 contract is trading at Rs 1047 per kg, down by 2.29 per cent, after opening at Rs 1103.60, against a previous close of Rs 1071.50. It touched the intra-day low of Rs 1039 (at 17:17 hours).