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 Ncdex Market News On Crude palm Oil

Crude palm Oil settled flat amid supply worries and on improved demand. Palm oil prices were supported by supply worries after India's palm oil imports for December month fell. India's Crude palm oil imports slipped 29.24% to 778,815 tons in December compared to 551,058 tons in the same period a month ago.

Trading Ideas:
CPO trading range for the day is 431.8-435.2.
Crude palm oil prices settled flat amid supply worries and on improved demand.
Palm oil prices were supported by supply worries after India's palm oil imports for December month fell.
Palm oil prices were also supported as output from Malaysia, the world's second biggest palm producer, is seen declining in the coming months.
Crude palm oil prices in spot market dropped by 1.80 rupees and settled at 433.10 rupees.


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Best Mcx Market Update On Barley

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Barley prices closed higher by 0.6 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of strong demand from beer and cattle-feed making industries against restricted supply in physical markets. 

At the NCDEX, barley futures for April 2016 contract closed at Rs. 1,427 per quintal, up by 0.6 per cent, after opening at Rs. 1,410 against the previous closing price of Rs. 1,418.5. It touched the intra-day high of Rs. 1,435. 

The consumption demand for Barley in India mainly comes for malt, poultry and animal feed. Barley malt is majorly used for the production of alcoholic beverages in the country.

Daily Mcx Market Update On Crude oil And Gold

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Crude oil

U.S. crude oil futures extended gains on Friday to take their weekly rise to more than 4 percent on hopes of a global deal between oil-producing countries to help tackle a growing supply glut.

U.S. crude climbed 32 cents at $33.54 a barrel as of 2338 GMT, after it settled up 92 cents, or 2.9 percent, at $33.22 per barrel, down from a high of $34.82.

Global benchmark Brent ended up 79 cents, or 2.4 percent, at $33.89 a barrel, after trading as high as $35.84.

"Despite the unlikely scenario of supply cutbacks in the oil market, prices have found some support above $30 a barrel. We believe this basis is fragile, with fundamentals expected to weaken in the coming weeks," ANZ said on Friday.

Gold
Gold steadied on Friday after recent gains that lifted the metal to its highest since November, keeping it on track to end January with its strongest monthly climb in a year.

Fresh data released on Thursday showed new orders for U.S. durable goods posted their biggest drop in 16 months in December, suggesting that growth in the world's top economy braked sharply at the end of 2015.

Best Mcx Ncdex Market News On Mustard seed

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Mustard Seed prices closed lower by 0.13 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal.

 At the NCDEX, Mustard Seed futures for April 2016 contract closed at Rs. 3,855 per quintal, down by 0.13 per cent, after opening at Rs. 3,845 against the previous closing price of Rs. 3,860. It touched the intra-day low of Rs. 3,822. 

Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity. EU-27 accounts to about 34 per cent of worlds RM seed production, others major producers are China (23 per cent), Canada (19 per cent), India (14 per cent), Australia (3 per cent), Ukraine (2 per cent). India produces 5.5 million MT to7 million MT annually.

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.

Live Mcx Ncdex Market News On Chana

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Chana prices closed higher 0.05 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for April 2016 contract closed at Rs. 4,260 per quintal, up by 0.05 per cent, after opening at Rs. 4,258 against the previous closing price of Rs. 4,258. It touched the intra-day high of Rs. 4,274. 

Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. 

India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

Daily Mcx Market Update On Crude oil And Gold

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Crude oil

U.S. crude futures dropped more than 1 percent in Asian trading on Thursday, paring gains of nearly 3 percent made in the previous session after Russia held out the possibility of cooperating with OPEC to control global oversupply.

U.S. crude had declined 33 cents to $31.97 a barrel by 0112 GMT. It settled the previous session up 85 cents at $32.30 a barrel, a 2.7-percent gain.
Brent crude had eased 26 cents to $32.84, after ending up 4.1 percent at $33.10 a barrel.

GOLD

Gold held near its highest level since November early on Thursday after the Federal Reserve said it was closely eyeing the global economy amid weakness seen from China to Europe.
After keeping U.S. interest rates unchanged as expected, Fed policymakers said the economy was still on track for moderate growth and a stronger labour market even with "gradual" rate increases, suggesting its concern about global events had diminished but not squashed chances of a rate hike in March.

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.