Share Tips Expert Commodity Report 07042011

8/6/2019 Share Tips Expert Commodity Report 07042011

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Daily Commodity Market Update as on Thursday, April 07, 2011

PRECIOUS METALS COMPLEX

NAME OPEN HIGH LOW CLOSE % CNG

GOLD 21178 21234 21123 21166 0.02

SILVER 57645 58140 57513 57708 0.31

GOLD 1459.35 1462.05 1454.75 1455.1 -0.29

SILVER 39.41 39.56 39.29 39.38 -0.08

PLATINUM 1786 1776 1773.5 1776 -0.56

Bullion prices extended gains as euro zone debt concerns

returned to the spotlight, the dollar retreated and

violence continued in the Middle East and North Africa,

which led to buying of precious metals as a haven from

risk.

SPOT $

MCX


CRUDE 4794 4827 4778 4794 0.02

N.GAS 189.1 189.3 183.7 184.3 -3.09

Crude oil ended firm as supply worries persisted due to

turmoil in Libya and the Middle East. Natural gas ended

down dropping to the lowest level in three weeks as

forecasts showed warmer-than-normal temperatures in

the U.S. next week, dam enin demand ex ectations for

MCX

ENERGY COMPLEX

CRUDE 107.99 109.15 107.72 108.83 0.77785


. . ,

the heating fuel.

BASEMETAL COMPLEX

MCX

. . .

ZINC 106.75 108.05 106.65 107.65 1.21

NICKEL 1136.3 1177 1136.3 1174.5 3.41

LEAD 124.65 125.9 124 125.7 1.19

ALUMINIUM 116.9 118.2 116.7 117.9 1.06

COPPER 9600 9614.5 9572.5 9581.5 -0.41 -1450

ZINC 2435 2435 2424 2432.75 -0.33 -425

COPPER

ZINC

440875

734975

Base meta en e ig er trac ing gains in LME prices as

currency-related buying and perceptions of healthier

Chinese purchases fed the rally.

LME STOCKLM E

. .

NICKEL 26500 2676 26351 26450 -0.36 -312

LEAD 2810 2810 2782 2804 -0.36 -1025

ALUMINIUM 2671 2810 2666 2667.75 -0.19 -4175

SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX

19556.46 5872.7 2332.34 1335.57 8508.23 12426.75 9619.03 3004.65 2124.12 24279.06 75.61

GLOBAL MARKETS UPDATE

4589000

NICKEL

LEAD

ALUMINIUM

122916

278400

-0.28 -0.32 0.19 0.22 0.23 0.27 0.36 0.11 -0.12 -0.02 0.12

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OPEN

21178

HIGH

F U T U R

E

% CNG

VOLUME

CLOSE

21166

0.02

21234

LOW

21123

Gold gained and settled at +0.02 at 21166 as the appeal of the precious metal was boosted by

’

X

G O L D

INTRADAY LEVELS

24348

OI

RE CNG

4

10635

P.P. 21174

SUP 1 RES 1

21115 21226

SUP 2 RES 2

21063 21285

SUP 3 RES 3

21004 21337

,widespread unrest continued in the Middle East and North Africa. Today market look to trade steady

ahead of an expected euro zone interest rate hike, while silver barely moved after rising to its

highest in more than three decades in the previous session on lingering worries about inflation. The

European Central Bank is poised to raise interest rates from a record low 1.0 percent on Thursday

and more is likely to follow but, fearful of heaping more pain on the euro zone's stragglers, it will

give few clues about when the next move will come. Now technically market is trading in the range

as RSI for 18days is currently indicating 55.36, where as 50DMA is at 21061.44 and gold is trading

above the same and getting support at 21115 and below could see a test of 21063 level, And

M C

LOW

U R

E

57513

OPEN

57645

HIGH

58140

V E R F U

RE CNG

57708

% CNG

OI

17365

77243

0.31

VOLUME

P.P. 57787

SUP 1 RES 1

57434 58061

SUP 2 RES 2 M C X S

I

Silver rosed to record high as euro zone debt concerns returned to the spotlight, the dollar retreated

and violence continued in the Middle East and North Africa, which led to buying of precious metals as

a haven from risk. The metal attracted interest from investors looking for a cheaper alternative to

gold as a hedge against inflation. The gold: silver ratio dropped to a 28-year low at 36.93. Now

technically market is in overbot as RSI for 18days is currently indicating 76.44, where as 50DMA is

181

INTRADAY LEVELS

57160 58414

SUP 3 RES 3

56807 58688

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at 52183.66 and silver is trading above the same and getting support at 57434 and below could see

a test of 57160 level, And resistance is now likely to be seen at 58061, a move above could see

prices testing 58414.

Page No. 2



OPEN

4794

HIGH

F U T U R E 4827

LOW

4778CLOSE

4794

% CNG

0.02

VOLUME

C R U D E

120882

OI

16314

RE CNG

1

INTRADAY LEVELSCrude oil yesterday traded in the tight range but trading below the 30-month high, after a

- - P.P. 4800

SUP 1 RES 1

4772 4821

SUP 2 RES 2

4751 4849

SUP 3 RES 3

4723 4870

M C

. . - - .Earlier in the day, the U.S. EIA said in its weekly report that U.S. crude oil inventories rose more-

than-expected in the week ended April 1, increasing by 2.0 million barrels, after rising by 2.9 mln bls

in the preceding week. According to the data, total U.S. crude oil inventories for the week ended

April 1 stood at 357.7 mln bls, remaining above the upper limit of the average range for this time of

year. Over the last four weeks, crude oil imports have averaged nearly 8.9 million barrels per day,

175,000 barrels per day below the same four-week period last year. Now technically market is

trading in the range as RSI for 18days is currently indicating 60.97, where as 50DMA is at 4576.96

and crude is trading above the same and getting support at 4772 and below could see a test of 4751

T U R

EOPEN

419

HIGH

428.35LOW

419

P P E R F U 427.55

% CNG

2.15

VOLUME

96435

OI

22052

RE CNG

P.P. 425.0

SUP 1 RES 1

421.6 430.9

SUP 2 RES 2 M C X C

O

Copper ended higher as currency-related buying and perceptions of healthier Chinese purchases fed

the rally. Copper prices now stand within 6 percent of their mid-February records at $10,190 per

tonne in London and $4.6575 per lb in New York, as investors bet that China's economy, which

expanded by 10 percent in 2010, will need greater amounts of raw materials to satisfy that rate of

growth. Latest data showed inventories of the metal in LME warehouses were down 4,175 tonnes at

4,589,000, but remained consistently high and within reach of a record high 4,640,750 tonnes hit in

9.2

INTRADAY LEVELS

415.6 434.3

SUP 3 RES 3

412.2 440.3

January last year. In yesterday's trading session copper has touched the low of 419 after opening at

419, and finally settled at 427.55. For today's session market is looking to take support at 421.6, a

break below could see a test of 415.6 and where as resistance is now likely to be seen at 430.9, a

move above could see prices testing 434.3.

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OPEN

106.75

HIGH

U T U R

E108.05

LOW

106.65CLOSE

107.65

% CNG

1.21

VOLUME

X

Z I N C

19273

OI

8225

RE CNG

1.3

INTRADAY LEVELS

P.P. 107.5

SUP 1 RES 1

106.9 108.3

SUP 2 RES 2

106.1 108.9

SUP 3 RES 3

105.5 109.7

M C

nc yes er ay ra e w e pos ve no e an se e . up a . on res uy ng

by traders, supported by a firm trend in global markets. Some pressure had been seen from

the LME stock also which came up by 2450mt, the total stock at LME is now at 737100mt. In

yesterday's trading session zinc has touched the low of 106.65 after opening at 106.75, and

finally settled at 107.65. For today's session market is looking to take support at 106.9, a

break below could see a test of 106.1 and where as resistance is now likely to be seen at

108.3, a move above could see prices testing 108.9.

U R

EOPEN

1136.3

HIGH

1177LOW

1136.3

K E L F U 1174.5

% CNG

3.41

VOLUME

55218

OI

10316

RE CNG

P.P. 1163

SUP 1 RES 1

1148 1189

SUP 2 RES 2 M C X N

I

40

INTRADAY LEVELS

Nickel yesterday traded with the positive node and settled 3.41% up at 1174.5 as increased demand

at the spot markets from alloy-makers supported the uptrend. Some pressure had been seen from

the LME stock also which came up by 420mt, the total stock at LME is now at 124506mt. In

yesterday's trading session nickel has touched the low of 1136.3 after opening at 1136.3, and finally

'

1122 1203

SUP 3 RES 3

1108 1230

Page No. 4

se e a . . or o ay s sess on mar e s oo ng o a e suppor a . , a rea e ow

could see a test of 1121.9 and where as resistance is now likely to be seen at 1188.9, a move above

could see prices testing 1203.3.

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ROPEN

116.9

HIGH

U M F U

T118.2

LOW

116.7CLOSE

117.9

VOLUME

% CNG

1.06

L U M I N I

1.25

INTRADAY LEVELS

2095

RE CNG

OI

4884

P.P. 117.6

SUP 1 RES 1

117.0 118.5

SUP 2 RES 2

116.1 119.1

SUP 3 RES 3

115.5 120.0 M C X

Aluminium yesterday traded with the positive node and settled 1.06% up at 117.9. Aluminium rose

to $2,685 a tonne, its highest since September 2008, before ending up $29 at $2,670. Some

support had been seen from the LME stock also which came down by -3500mt, the total stock at

LME is now at 4602600mt. In yesterday's trading session aluminium has touched the low of 116.7

after opening at 116.9, and finally settled at 117.9. For today's session market is looking to take

support at 117, a break below could see a test of 116.1 and where as resistance is now likely to be

seen at 118.5, a move above could see prices testing 119.1.

189.3

183.7 T U R E

OPEN

189.1

HIGH

LOW

% CNG

184.3

. G A S

F-3.09

13711

RE CNG

OI

VOLUME

27140

P.P. 185.8

SUP 1 RES 1

182.2 187.8

SUP 2 RES 2

C X N A

-5.7

INTRADAY LEVELS

Natural gas yesterday traded with the negative node and settled -3.09% down at 184.3 for a fourth

day on Wednesday, dropping to the lowest level in three weeks as forecasts showed warmer-than-

normal temperatures in the U.S. next week, dampening demand expectations for the heating fuel. It

earlier fell to USD4.186 per million British thermal units, the lowest price since March 18. Earlier in

the day, the Commodity Weather Group said that it expected above normal temperatures for most

of the U.S. Southwest and East Coast through mid-April. The report was expected to show that U.S.

180.2 191.4

SUP 3 RES 3

176.6 193.4

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natural gas inventories dropped by 50 billion cubic feet, after rising by 12 billion cubic feet in the

preceding week, as a burst of colder-than-normal weather boosted demand for the heating fuel. For

today's session market is looking to take support at 182.2, a break below could see a test of 180.2

and where as resistance is now likely to be seen at 187.8, a move above could see prices testing



ACTIVE SPREAD UPDATE

DAILY SPREAD IN GOLD - MCX DAILY SPREAD IN SILVER - MCX

MONTH RATE JUNE AUG OCT MONTH RATE MAY JULY SEPT

JUNE 21166 301 611 MAY 57708 754 1456

AUG 21467 310 JULY 58462 702OCT 21777 SEPT 59164

Spread between Silver MAY & JUL contracts yesterday

ended at 754, we have seen yesterday that the silver

market had traded with a positive node and settled

0.31% up. Spread yesterday traded in the range of 700 -

853.

Spread between Gold JUN & AUG contracts yesterday

ended at 301, we have seen yesterday that the gold

market had traded with a positive node and settled 0.02%

up. Spread yesterday traded in the range of 296 - 312.

MONTH RATE APRIL MAY JUNE MONTH RATE APRIL JUNE

APRIL 4794 57 102 APRIL 427.55 6.1

MAY 4851 45 JUNE 433.65

JUNE 4896

DAILY SPREAD IN CRUDE - MCX DAILY SPREAD IN COPPER - MCX

Sprea etween copper APR & JUN contracts yester ay

ended at 6.1, we have seen yesterday that the copper

market had traded with a positive node and settled

2.15% up. Spread yesterday traded in the range of 6 - 8.

DAILY SPR EAD IN NI CKEL - MCX A R K E T

DAILY SPR EAD IN ZINC - MCX

Sprea etween cru e MAR & APR contracts yester ay

ended at 57, we have seen yesterday that the crude

market had traded with a positive node and settled 0.02%

up. Spread yesterday traded in the range of 57 - 64.

MONTH MONTH

APRIL 107.65 1.2 APRIL 1174.5 8.3

MAY 108.85 MAY 1182.8

Spread between zinc APR & MAY contracts yesterday

ended at 1.2, we have seen yesterday that the zincmarket had traded with a positive node and settled 1.21%

up. Spread yesterday traded in the range of 1 - 1.3.

Spread between nickel APR & MAY contracts yesterday

ended at 8.30, we have seen yesterday that the nickelmarket had traded with a positive node and settled

3.41% up. Spread yesterday traded in the range of 8.00 -

13.6. P R E A D

MONTH RATE APRIL MAY MONTH RATE APRIL MAY

APRIL 184.3 5.1 APRIL 1039.9 -66.5

MAY 189.4 MAY 973.4

DAILY SPREAD IN NAT. GAS - MCX DAILY SPREAD IN MENTHOL - MCX

S read between natural as APR & MAY contracts S read between menthol oil APR & MAY contracts

yesterday ended at 5.10, we have seen yesterday that the

natural gas market had traded with a negative node and

settled -3.09% down. Spread yesterday traded in therange of 5 - 6.6.

yesterday ended at -66.50, we have seen yesterday that

the menthol oil market had traded with a positive node

and settled 0.01% up. Spread yesterday traded in therange of -72.3 to -66.5.




DAY TIME CURRENCY Fo re cast P re viou s

12:15pm EUR -5.6B -5.9B L

French Trade Balance

DATA

Day 1 EUR 0 0

3:30pm EUR 0.006 0.018

5:15pm EUR 0.0125 0.016:00pm EUR 0 0

6:00pm USD 385K 388K

8:00pm USD -51B 12B

0 0 0 0

0 0 0 0 O N O M I

C

D A T A

German I ndustrial Production m/ m

Minimum Bid RateECB Press Conference

Unemployment Claims

ECOFIN Meetings

Thu Natural Gas Storage

0

0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

E C 0

0

0

0

Oil prices could rocket to $200-$300 a barrel if the world's top crude exporter Saudi Arabia is hit by serious political

E

unrest, former Saudi oil minister Sheikh Zaki Yamani said on Tuesday. Yamani said he saw no immediate sign of

further trouble following protests last month calling for political reforms but said that underlying discontent remained

unresolved. "The political events that took place are there and we don't expect them to finish. I think there are some

surprises on the horizon," he said in a speech. Saudi King Abdullah offered $93 billion in handouts in March in an

effort to stave off unrest rocking the Arab world. So far, demonstrations in the Kingdom have been small in scale and

police were able to easily disperse a Shi'ite protest in the oil-producing eastern province last month. But Yamani said

that the reluctance of people to participate in popular protests was merely concealing underlying discontent. "Some

people relax about the situation in Saudi Arabia because the Saudi Islamic brand prohibits people to go to the street

and to talk," he said in a speech.

C A

N

U

The wheat procurement season across grain markets of Punjab and Haryana started on Friday. Government agencies

target to procure over 16.5 million tonne wheat this season from the two states. However, an increase in VAT by 1%

on wheat and paddy in Punjab has not gone down well with the processors and traders. On the first day of

rocurement arrivals were slow var in between 22 tonne to 30 tonne in Pun ab and Har ana which were rocured

W S Y O

, , ,

by millers. "The agencies have not picked a single grain. We will start procuring in the second week of April when

wheat arrivals pick up," said Food Corporation of India (FCI) deputy general manager (Punjab region) Aseem

Chabbra. Punjab and Haryana contribute over 60% of wheat to the national pool for public distribution. "We expect

wheat arrivals in the mandis to be 10.7 million tonne in this procurement season. It might even touch 11 million

tonne, for which needful arrangements have been made," said Punjab Food and Supplies department secretary DS

Grewal. Wheat production in Punjab is targetted to touch 15.7 million tonne this year.

N

Indian cash rates dropped to its lowest level in more than two months on Wednesday on the back of lower demand

as banks had borrowed excess funds ahead of the long weekend. On a net basis, through the liquidity adjustment

facility the Reserve Bank of India drained out 325.10 billion rupees on Tuesday, the highest since May 21 when the

amount stood at 475.30 billion rupees. However, cash rates are expected to strengthen on Monday, the beginning of

a new reporting fortnight, on the back of higher demand for funds. Banks were net lenders of 4.05 billion rupees to

the central bank so far in the day.

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Share Tips Expert Commodity Report 07042011