Home Arrow Commodity News Arrow 23rd April – 27th April – Commodities markets and Geo political Scene

Commodity World Roundup

23rd April – 27th April – Commodities markets and Geo political Scene

Commodities markets and Geo political Scene

SILVER TUMBLES RS 152 ON WEAK GLOBAL CUES

PTI, April 27, 2018

Silver prices dropped by Rs 152 to Rs 39,191 per kg in futures trade today as participants cut bets following weak leads from overseas markets. Profit-booking at prevailing levels by speculators also weighed on silver prices. At the Multi Commodity Exchange, silver for delivery in May was trading lower by Rs 152, or 0.39 per cent, to Rs 39,191 per kg, in a business turnover of 255 lots.

Source: http://www.business-standard.com

WHEAT FUTURES SLIP ON HIGHER SUPPLY

PTI, April 27, 2018

Wheat prices were lower by 0.64 per cent to Rs 1,716 per quintal in futures market today as speculators reduced holdings coupled with adequate stocks position at spot markets on increased supplies.

Source: http://www.business-standard.com

LOSING THE SPARKLE: GEM, JEWELLERY EXPORTS DIPPED 8 PER CENT LAST FISCAL

April 27, 2018

Gem and jewellery export dipped eight per cent to $33 billion (₹2.10 lakh crore) in the last financial year from $35 billion (₹2.37 lakh crore) previously on sharp drop in demand after the levy of five per cent value-added tax.

Source: https://www.thehindubusinessline.com

CASHEW EXPORT COUNCIL SEEKS REVIVAL PACKAGE

April 27, 2018

Kerala’s cashew industry, the sole livelihood of around three lakh rural women, is pinning its hopes on a revival package supported by Central and State governments and banks, to weather the crisis it faces.

Source: https://www.thehindubusinessline.com

COTTON BODY SEES A STABLE SITUATION ON HIGHER STOCKS

April 27, 2018

After reviewing the crop situation for the 2017-18 cotton year, the Indian Cotton Federation (ICF) believes that the situation is “more stable than expected.”

Source: https://www.thehindubusinessline.com

UP SUGAR MILLS COMPLAIN OF THREATS FROM POLITICIANS

April 27, 2018

The sugar industry in Uttar Pradesh — already reeling under a drastic mismatch between the high state advised price (SAP) of cane and the rate of sugar — has now complained of repeated cases of “unreasonable behaviour, unlawful demands and physical harm and threats against its workers” involving none other than the “elected representatives of the ruling party” (BJP)

Source: https://www.financialexpress.com

PANEL PUSHES CREATION OF ‘WEALTH’ FROM AGRI WASTES

April 27, 2018

The committee on doubling farmers’ income has suggested the government to establish an institutional mechanism to address the issue of creating wealth from agricultural wastes and promote “secondary agriculture” as several ministries such as agriculture, petroleum, food processing and rural development are involved

Source: https://www.financialexpress.com

GOLD HOVERS NEAR 5-WEEK LOW AS STRONGER DOLLAR, BOND YIELDS WEIGH

April 27, 2018

Gold prices stuck to a narrow range on Thursday, hovering near five-week lows hit in the previous session, pressured by a stronger dollar and a rise in U.S. Treasury yields. Spot gold was up 0.1 percent at $1,324.61 per ounce at 0656 GMT, a day after it fell to $1,318.51, its lowest since March 21. U.S. gold futures rose 0.3 percent to $1,326.2 an ounce.

Source: http://www.business-standard.com

COMMODITY PRICES TO RISE MORE THAN EXPECTED IN 2018: WORLD BANK

April 27, 2018

Oil prices to average $65 a barrel in 2018 on strong demand, producer restraint Oil prices are forecast to average $65 a barrel over 2018, up from an average of $53 a barrel in 2017, on strong demand from consumers and restraint by oil producers, while metals prices are expected to rise 9 percent this year, also on a pickup in demand and supply constraints, the World Bank said on Tuesday.

Source: http://www.business-standard.com

COMMODITY OUTLOOK AND TOP TRADING IDEAS BY TRADEBULLS FOR TODAY

April 26, 2018

Commodity Outlook: US Dollar index is at three and half month high. The main driver behind the rally is 10 Year US Treasury Yields hitting 3 percent mark for the first time in 4 years. It has made high of 3.03 and is now trading around 3.01. We believe the last line of defense for bears in US Dollar index is 91.65.

Source: http://www.business-standard.com

MCX-LEAD IS STUCK IN A SIDEWAYS RANGE

April 26, 2018

The Lead futures contract on the Multi Commodity Exchange (MCX) has failed to breach the 200-day moving average resistance in the past week as expected. The contract made a high of ₹158.1 per kg on April 19 and has come-off from there. It is currently trading at ₹154 per kg.

Source: https://premium.thehindubusinessline.com

GOLD FUTURES EASE TO RS 31,539 PER 10 GM

PTI, April 26, 2018

Gold prices slipped 0.17 per cent to Rs 31,539 per ten gram at the futures trade as speculators trimmed their positions, taking weak cues from global markets. At the Multi Commodity Exchange, gold for delivery in August fell Rs 55 or 0.17 per cent to Rs 31,539 per ten gram in a business turnover of 4 lots

Source: https://www.thehindubusinessline.com

ALUMINUM BEARS ON TREACHEROUS GROUND AS SUPPLY SHOCKS CONTINUE

April 26, 2018

One of the few hedge funds to survive the downswing in the commodity supercycle has a lesson for traders trying to navigate whipsawing aluminum prices: go short at your peril.

Source: https://www.bloombergquint.com

CARDAMOM FUTURES RISE 0.54% AS DEMAND PICKS UP

PTI, April 26, 2018

Cardamom prices edged higher by 0.54 per cent to Rs 960 per kg in futures trade today as speculators created fresh positions after uptick in demand at the spot market.

Source: http://www.business-standard.com

PRICES OF ENERGY COMMODITIES SET TO RISE BY 20 PER CENT THIS YEAR: WORLD BANK

PTI, April 25, 2018

WASHINGTON: Prices for energy commodities like oil, natural gas and coal are expected to jump by a whopping 20 per cent this year, the World Bank has said in a report. The increase in energy prices is expected to have an adverse impact on India, given that the country is heavily dependent on import of major energy commodities.

Source: http://www.newindianexpress.com

ARE WE IN FOR THE RETURN OF COMMODITY SUPERCYCLE?

April 25, 2018

Is the commodity supercycle coming back from the dead? For now, such a claim could perhaps be considered both bold and premature — but there does seem to be some compelling evidence that is mounting to back it up.

Source: https://economictimes.indiatimes.com

AGRI-COMMODITIES: CHANA, MUSTARD FALL ON WEAK DEMAND

Reuters, April 25, 2018

Chana prices fell by 1.27 per cent to Rs 3,490 per quintal in futures trade today, falling for the third day, as participants reduced exposure amid subdued demand at the spot market against adequate stocks.

Source: https://economictimes.indiatimes.com

MCX’S GOLD OPTIONS SHINE BRIGHTER AFTER MARKET MAKING BOOST

April 25, 2018

MCX, the country’s largest commodity exchange, breathed new life into gold options trading on Tuesday by allowing market making through a liquidity enhancement scheme.

Source: https://www.thehindubusinessline.com

LETTER TO BS: NITI'S RECOMMENDATIONS ON DERIVATIVE MKTS FORWARD LOOKING

April 25, 2018

The need for integration of spot and derivative markets in commodities has for long been discussed in policy and academic circles. The recent report of the Niti Aayog under the chairmanship of Ramesh Chand offers justification for such integration and proposes operational and legal guidelines based on archival information and a few empirical studies conducted in the concerned space.

Source: http://www.business-standard.com

CRUDE PALM OIL FUTURES RISE 0.38% ON FIRM SPOT DEMAND

PTI, April 25, 2018

Crude palm oil prices rose 0.38 per cent to Rs 645.50 per 10 kg in futures trade today as speculators increased positions amid a firm demand at the spot market. Besides, a firming trend in overseas markets supported the uptrend.

Source: http://www.business-standard.com

OIL, RUPEE TO BOOST EARNINGS BUT HURT ECONOMY: WHERE TO INVEST IN A CATCH-22 MARKET

April 25, 2018

Even as the market looks to steady itself after a cut of 10 percent from January highs, the macro situation could keep the Street on its toes. As such, it has managed to look beyond issues - higher oil prices and rising US bond yields - and rally ahead.

Source: https://www.moneycontrol.com

TURMERIC FUTURES RISE 1.13 PC ON SPOT DEMAND

PTI, April 25, 2018

Even as the market looks to steady itself after a cut of 10 percent from January highs, the macro situation could keep the Street on its toes. As such, it has managed to look beyond issues - higher oil prices and rising US bond yields - and rally ahead.

Source: https://www.moneycontrol.com

NEAR-TERM VIEW IS NEGATIVE FOR MCX-NICKEL

April 25, 2018

The nickel futures contract on the Multi Commodity Exchange (MCX) was volatile last week. The contract surged breaking above the psychological ₹1,000 level and recorded a multi-year high of ₹1,095.2 per kg last Thursday.

Source: https://premium.thehindubusinessline.com

EXPECT VOLATILITY IN ALUMINIUM AND BROADER COMMODITIES' PRICING: DAVID LENNOX, FAT PROPHETS

April 24, 2018

In an interview with ET Now, David Lennox, Fat Prophets, says there has been a decline in aluminium and alumina inventories over last 12 months and that would have provided a good tailwind for the prices earlier.

Source: https://economictimes.indiatimes.com

MCX-ZINC FACES A KEY RESISTANCE

April 24, 2018

The zinc futures contract on the Multi Commodity Exchange breached the resistance at ₹210 per kg and witnessed a strong rally last week which was contrary to our expectation. The contract has surged over 3 per cent in the past week. It is currently trading at ₹215 per kg.

Source: https://premium.thehindubusinessline.com

OIL STABLE BUT BELOW RECENT HIGHS AS RISING US SUPPLY DRAGS ON BULL-RUN

Reuters, April 24, 2018

Oil prices were stable on Wednesday, but were below the more than three-year highs reached the previous session as rising US fuel inventories and production weighed on an otherwise bullish market.

Source: https://www.thehindubusinessline.com

OUTLOOK TURNS BULLISH FOR MCX NATURAL GAS

April 24, 2018

Natural gas price has been inching higher over the last few weeks. The US Natural gas futures contract on the New York Mercantile Exchange (Nymex) has surged about 6 per cent from its March low of $2.60 mmBtu to the current level of $2.75.

Source: https://www.thehindubusinessline.com

MCX-ALUMINIUM RETAINS ITS STRENGTH

April 23, 2018

The aluminium futures contract on the Multi Commodity Exchange (MCX) has been volatile in the past week. The contract surged to a high of ₹178.85 per kg on Thursday and fell-back sharply from there. The contract fell to a low of ₹160.95 on Friday and has reversed higher again from there. It is currently trading at ₹168 per kg.

Source: https://premium.thehindubusinessline.com

SUGAR PRICE MOVE DOWN

PTI, April 23 2018

Prices of sugar move down, rest other commodities remained unchanged in the wholesale foodgrain market here today. Sugar went down by Rs.50 per quintal to Rs.3100 from its previous rate of Rs.3150. Thoordal, urad dal, moong dal, gram dal, wheat, maida and sooji maintained the same level.

Source: http://www.business-standard.com

CHINESE IMPORTS COULD PEP UP GLOBAL PEPPER PRICES IF PRODUCTION DROPS

April 23 2018

Global pepper prices are likely to recover in the near-term, with China emerging a leading importer of Vietnam black pepper after the US. Earlier, Chinese used to import pepper through cross border trade and now it is officially using its customs frontiers.

Source: https://www.thehindubusinessline.com

ALUMINIUM FUTURES FALL 0.86% ON WEAK GLOBAL CUES

PTI, April 23 2018

Aluminium prices drifted lower by 0.86 per cent to Rs 150.70 per kg in futures trade today as speculators reduced bets, driven by a weak trend overseas amid easing demand in the spot market. At the Multi Commodity Exchange, aluminium for delivery in May fell by Rs 1.30, or 0.86 per cent, to Rs 150.70 per kg in a business turnover of 94 lots.

Source: http://www.business-standard.com