Live Mcx Market News On Aluminium

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Aluminium settled down -0.91% at 103.35 snapped a two-day rally and fell from its highest close in three weeks, as market expects Chinese demand to grow at its slowest pace since 1998. Chinese stocks fell for a third day on Thursday as concern slumping commodity prices and a weakening economy will reduce corporate profits overshadowed the biggest cash injection into the financial markets in three years.

Trading Ideas:
Trading Ideas:
Aluminium trading range for the day is 102.1-105.1.
Aluminium dropped as prices seen under pressure from an oversupplied market, mainly because China has been ramping up low-cost capacity.

Best Mcx Market Update On Natural gas

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Natural Gas futures surged by more than 1.5 per cent in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts for colder temperatures across parts of the US in the next two weeks bolstered the demand outlook for the heating fuel in the world’s biggest economy. 

About 49 per cent of US households use natural gas for heating purposes. November to March is the peak US gas heating season. 

The focus today will on the release of the weekly US storage data by the EIA which may show a 206 billion cubic feet withdrawal in stockpiles in the week ended January 22, 2016.

Daily Mcx Market Update On Crude oil

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Crude oil prices rose by 1.05 per cent on Wednesday on hopes for major producers to begin to trim output and even as US industry estimates showed a massive build in US crude stockpiles last week. The American Petroleum Institute's weekly crude stockpile report released showed an 11.4 million barrels build, well above the 3.5 million barrels seen. Separately, Wednesday's report from the US Department of Energy could show that domestic crude inventories rose by 3.5 million barrels for the week ending on January 22.

 At the MCX, crude oil futures for February 2016 contract were trading at Rs. 2,122 per barrel, up by 1.05 per cent, after opening at Rs. 2,080 against the previous closing price of Rs. 2,100. It touched the intra-day high of Rs. 2,135 till the trading. Crude prices rallied after Nawal al-Farzaia, Kuwait's OPEC governor, made bullish comments on the possibility that the cartel could reduce supply levels in an effort to stem record-low price declines.

Live Mcx Ncdex Market News On Maize

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Maize prices ended lower by 0.35 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At the NCDEX, maize futures for February 2016 contract closed at Rs. 1,433 per quintal, down by 0.35 per cent, after opening at Rs. 1,436 against the previous closing price of Rs. 1,438. It touched the intra-day low of Rs. 1,414. 

USA, China and Brazil are the top three maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan, EU, Malaysia, Taiwan, Indonesia etc.

Today's Mcx Market Update On Gold

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Gold rose to the highest level in almost three months in North America trade on Tuesday, as investors awaited the Federal Reserve's policy meeting, due to begin later in the day. 

The Fed is expected to keep interest rate on hold at the conclusion of its two-day policy meeting on Wednesday after raising interest rates for the first time in almost a decade in December. 

Investors were looking to the Fed policy statement for any indication that the bank is considering slowing the path of interest rate increases this year after recent global financial market turmoil.

A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.

MCX NCDEX TIPS :- Jeera trading range for the day is 13365-13795.

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Jeera prices settled flat on the back of slow export demand, as well as weak buying by stockists. Moreover, expectation of higher production due to favourable weather too fuelled the downtrend. There are reports of lower export orders coupled with reports of good weather in sowing states weighing in prices.
Trading Ideas:
Jeera trading range for the day is 13365-13795.
Jeera prices ended with flat node on the back of slow export demand, as well as weak buying by stockists.
Moreover, expectation of higher production due to favourable weather too fuelled the downtrend.
NCDEX accredited warehouses jeera stocks dropped by 141 tonnes to 743 tonnes.
In Unjha, a key spot market in Gujarat, jeera edged down by -16.65 rupees to end at 14483.35 rupee per 100 kg.

Mcx Market News On Nickel

Nickel futures were trading mildly higher during noon trade in the domestic market on Thursday amidst a pickup in physical demand, by alloy-makers, for Nickel, in the domestic spot market. However, the gains in the industrial metal were curbed by fears over a gloomy demand outlook from China, the world’s biggest metals consumer, as an ongoing stock rout in the country threatened to spread to other parts of the economy.

China’s stock markets declined for a second straight day with benchmark Shanghai Composite plunging over 3 per cent as traders seemed unsure over policymakers’ ability to manage an economic slowdown and tackle financial volatility.

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Mcx Market Report On Jeera

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Jeera prices closed higher by 0.59 per cent on Wednesday 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 April 2016 contract closed at Rs. 13,705 per quintal, up by 0.59 per cent, after opening at Rs. 13,775 against the previous closing price of Rs. 13,625. It touched the intra-day high of Rs. 13,780. 

Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

NCDEX Mentha Oil News

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Mentha oil settled up by 0.29% at 877.8 amid rising demand from consuming industries in the spot market. Besides, restricted arrivals from the major producing belts of Chandausi in Uttar Pradesh also supported mentha oil prices. However with cooler winters anticipated for many parts of India this year, the demand may soon start picking up from the pharmaceutical sector. Global demand too is expected to rise at these lower levels in coming weeks. 

Trading Ideas:
Menthaoil trading range for the day is 871.9-882.9.
Mentha oil spot at Sambhal closed at 1019.30 per 1kg. Spot prices is up by Rs.3.30/-.
Mentha oil prices ended with gains amid rising demand from consuming industries in the spot market.
Besides, restricted arrivals from the major producing belts of Chandausi in Uttar Pradesh also supported mentha oil prices.
As per market sources, the overall production is still 70% lower from the previous year of 50,000 tons.

Daily Mcx Market News On Crude oil By MarketMagnify

Crude futures slumped again in early Asian trade on Wednesday, with US oil falling to its lowest since September 2003 below USD 28 a barrel on worries over a global supply glut. 

That came as the International Energy Agency, which advises industrialized countries on energy policy, warned on Tuesday that oil markets could "drown in oversupply".

 US crude futures were trading down 46 cents at USD 28.00 a barrel at 0136 GMT (2036 EDT), after dropping to USD 27.92 earlier in the session - a new low since September 2003.

 The contract settled down 96 cents, or 3.26 percent, the session before. 

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Live MCX Castorseed update

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Castorseed prices rose by 0.03 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) 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 January 2016 contract were trading at Rs. 3,460 per quintal tonnes, up by 0.03 per cent, after opening at Rs. 3,456 against the previous closing price of Rs. 3,459. It touched the intra-day high of Rs. 3,460 till the trading. (At 12.15 PM today). Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.

MCX MARKET REPORT ON TURMERIC

Turmeric settled down by -3.98% at 9258 as the buyers are reported to be unresponsive towards bulk buying as they are waiting for new crop to enter in coming days and the farmers in the Western region are preparing to embrace the harvest season & hoping for a bumper harvest as the yield is expected to go up due to higher cultivation area

Trading Ideas:
Turmeric trading range for the day is 8944-9888.
Turmeric prices dropped as the buyers are reported to be unresponsive towards bulk buying as they are waiting for new crop to enter in coming days.
During the first six months of this fiscal, India exported 46,500 ton turmeric as against 44,406 ton a year ago.
Investors are expecting that fresh arrivals will hit the market by this month end as harvesting also running in full swing.

Today's Mcx Market News for Gold

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Gold steadied in early deals on Tuesday as weaker stock and oil prices pushed investors towards safe-haven assets, but slow physical demand in Asia kept bullion under USD 1,100 an ounce. 

FUNDAMENTALS 

* Spot gold was little changed at USD 1,089.20 an ounce by 0035 GMT, after a lethargic session on Monday with US markets shut for the Martin Luther King holiday. 

* US gold for February delivery slipped 0.2 percent to USD 1,088.90 an ounce. 

* Weak physical demand from top gold consumers China and India has limited gold's upside potential, with Chinese consumer spending dented by its slowing economy.

 * China will release its gross domestic product data for the last quarter of 2015 and the past year this morning and economists polled by Reuters show the world's No. 2 economy grew 6.9 percent last year, its slowest in a quarter of a century.

SOYABEAN NEWS TODAY INDIA

Soyabean settled down -0.76% at 3764 on profit booking after prices gained on supply worries in global market and on improvement in demand from China. Speculation over lower supply from US and Brazil and higher China imports supported the bean prices. Prices of the bean were supported after United States Department of Agriculture (USDA) trimmed 2015-16 United States soybean production forecast and also cut its forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report. USDA maintain US, the world's biggest bean grower, 2015-16 production estimates to 107 million tons compared to 108.4 million tons in the previous month estimates and 106.9 million tons a year ago.

Trading Ideas:
Soyabean trading range for the day is 3698-3868.
Soyabean prices ended with losses on profit booking after prices gained on supply worries in global market
USDA also its forecast for 2015-16 US soybean ending stockpiles to 440 million bushels compared to 465 million bushels in the previous month.
NCDEX accredited warehouses soyabean stocks dropped by 1013 tonnes to 67238 tonnes.
At the Indore spot market in top producer MP, soybean gained 16 rupee to 3763 rupee per 100 kgs.

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Zinc Newa Latest Update

Zinc settled down -1.57% at 100.15 as more equity losses in Shanghai increased concern that demand will slow in China. Industrial metals retreated as Chinese shares extended the world’s worst selloff this year, with data showing the country’s inflation in December stayed at about half of the government’s 2015 target. U.S. retail sales unexpectedly fell in December as unseasonably warm weather undercut sales of winter apparel and cheaper gasoline weighed on receipts at service stations, adding to signs that economic growth braked sharply in the fourth quarter

Trading Ideas:
Zinc trading range for the day is 98.6-102.
Zinc prices dropped as more equity losses in Shanghai increased concern that demand will slow in China.
The US Commerce Department said retail sales slipped 0.1 percent after an upwardly revised 0.4 percent gain in November.
Combined zinc inventories in Shanghai, Tianjin and Guangdong fell 9,900 to 325,200 tonnes this past week, due mainly to growing outward shipments.

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Oil Price News latest

Oil prices hit their lowest since 2003 in early trading on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country at the weekend. 

On Saturday, the UN nuclear watchdog said Tehran had met its commitments to curtail its nuclear program, and the United States immediately revoked sanctions that had slashed the OPEC member's oil exports by around 2 million barrels per day (bpd) since their pre-sanctions 2011 peak to little more than 1 million bpd.


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US crude falls as market braces for more Iranian oil

US crude oil futures fell in early Asian trade, heading lower after posting the first significant gains for 2016 in the previous session, as the prospect of additional Iranian supply looms over the market. 

West Texas Intermediate (WTI) was down 33 cents at USD 30.87 a barrel at 0103 GMT (2003 EDT). On Thursday the contract rose 72 cents, or 2.4 percent, to settle at USD 31.20. It hit a 12-year low of USD 29.93 earlier this week. 

WTI is on track to post a third consecutive weekly loss, down more than 6 percent. The contract is down nearly 18 percent from a 2016 high on January 4. Brent crude was yet to trade. 

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Crude palm Oil settled up

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Crude palm Oil settled up by 0.48% at 416.9 due to pickup in demand in the spot market. Further, limited arrivals from producing belts too supported prices. According to latest data released by SEA, country has set a new record for highest import of palm products in Oil year 2014-15, which has created a glut in domestic market. Import of palm products during October 2015 is the highest in any single month at 1.11 mt. Exports too declining on concern over China’s slowing economy. December's palm exports from Malaysia, the world's second-biggest producer of palm oil by volume, fell 5%- 6% compared to the month before. Malaysian palm oil futures bounce back on Friday due to forecast of declining production. As per the reuters poll, Output is likely to have dropped to 1.36 million tonnes, down 17.8pc from November and the lowest since February 2015, a Reuters poll showed. However, concern over weak export demand and a narrowing spread between the tropical oil and soyoil capped further gain.


Trading Ideas:
CPO trading range for the day is 408.7-422.5.
Crude palm oil prices ended with gains due to pickup in demand in the spot market.
According to latest data released by SEA, country has set a new record for highest import of palm products in Oil year 2014-15, which has created a glut.
India's CPO purchases will climb only 100,000 tonnes to 9.7 million tonnes this marketing year
Crude palm oil prices in spot market dropped by 2.30 rupees and settled at 405.50 rupees.

Gold edges up after 2-day decline, China concerns support

Spot gold edged higher on Tuesday, snapping two sessions of decline, as concerns over China's economic growth and pressure on stock markets lifted the precious metal.

FUNDAMENTALS

* Spot gold firmed 0.2 percent to $1,095.6 an ounce by 0037 GMT, while U.S. gold futures eased 0.1 percent to $1,095.2.

* China's main stock indexes each dropped more than 5 percent on Monday. Oil prices fell to new 12-year lows, as concerns over China hurt commodity prices broadly.

* Right from the beginning of 2016, markets have been rocked by plunges in Chinese stocks, the yuan's fall and subsequent heavy intervention by the Chinese authorities.

* The chaotic moves have led to worries China's economy may be in for tough time rather than stabilising as some had hoped.

* China is the world's biggest consumer of gold at around 1,000 tonnes a year.

* The yellow metal is often seen as an alternative investment during times of financial uncertainty, although safe-haven rallies tend to be short-lived.


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US crude oil prices approach 20% fall since beginning of the yr

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US crude prices continued a relentless dive early on Tuesday approaching a 20 percent drop since the beginning of the year as analysts scrambled to cut their 2016 oil price forecasts and traders bet on further price falls. 

US crude West Texas Intermediate (WTI) CLc1 were trading at USD 31.34 per barrel at 0805 GMT on Tuesday, down 7 cents from their last settlement and almost 19 percent lower than at the beginning of the year. 

WTI has shed over 70 percent in value since the downturn began in mid-2014. Trading data showed that managed short positions in WTI crude contracts, which would profit from a further fall in prices, are at a record high, implying that many traders expect further falls.