Finance Minister has proposed a excise duty of 4% for Silver manufactured from smelting of lead and zinc. This will bring the excise duty at par with silver obtained from copper ore and concentrates.
Source by Commodity Insights
Thursday, February 28, 2013
Excise Duty of 4% on Silver Manufacturing From Smelting Zinc Or Lead
Mcx....
Finance Minister has proposed a excise duty of 4% for Silver manufactured from smelting of lead and zinc. This will bring the excise duty at par with silver obtained from copper ore and concentrates.
Source by Commodity Insights
Finance Minister has proposed a excise duty of 4% for Silver manufactured from smelting of lead and zinc. This will bring the excise duty at par with silver obtained from copper ore and concentrates.
Source by Commodity Insights
Copper Further Sublimes As Rupee Recovers Ahead of Budget
Copper...
Mr Finance Minister will be presenting the Union Budget. All eyes are set on the proposals from Mr Chidambaram. The commodities will be hoping that there is no transaction tax imposed on it. The anxiety is high and height of it is making Rupee recover against its rival US Dollar. Internal factors have upper hand at the moment as markets will digest only reform friendly budget that will further underpin Rupee from current levels of 53.69, up 0.32% ahead of the budget. Copper sublimed further on MCX as pressure continued even as LME Copper forwards showed recovery.
The metals have seen a continuous bashing until yesterday when all of them improved including Copper. LME Copper closed at $ 7863 per tonne, up $ 70. The metal breathed easy after assistance from Federal Reserve that the bond buying will continue. Copper is seen trading at $ 7904 per tonne on Thursday.
In Economic reports, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 3.5% in January, above expectations for a 3.2% increase. The U.S. Census Bureau said that total durable goods orders, which include transportation items, tumbled by a seasonally adjusted 5.2% in January, compared to expectations for a drop of 4.4%
Meanwhile, World primary Aluminium production increased by 5.7% in January 2013 compared to the similar period last year. Total reported primary Aluminium production was at 3.92 million tonnes in January 2013 as compared to 3.70 million tons in January 2012.
MCX Copper closed at Rs 428.2 per kg, down 1%. The supports for Copper is at Rs 426 and 425 per kg. Resistance for the contract is at Rs 433 per kg. LME Aluminium settled trading at $ 2016 per tonne, up $ 2.5 per tonne. MCX Aluminium settled at Rs 107.6, down Rs 1.6.
Source by Commodity Insights
Mr Finance Minister will be presenting the Union Budget. All eyes are set on the proposals from Mr Chidambaram. The commodities will be hoping that there is no transaction tax imposed on it. The anxiety is high and height of it is making Rupee recover against its rival US Dollar. Internal factors have upper hand at the moment as markets will digest only reform friendly budget that will further underpin Rupee from current levels of 53.69, up 0.32% ahead of the budget. Copper sublimed further on MCX as pressure continued even as LME Copper forwards showed recovery.
The metals have seen a continuous bashing until yesterday when all of them improved including Copper. LME Copper closed at $ 7863 per tonne, up $ 70. The metal breathed easy after assistance from Federal Reserve that the bond buying will continue. Copper is seen trading at $ 7904 per tonne on Thursday.
In Economic reports, the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 3.5% in January, above expectations for a 3.2% increase. The U.S. Census Bureau said that total durable goods orders, which include transportation items, tumbled by a seasonally adjusted 5.2% in January, compared to expectations for a drop of 4.4%
Meanwhile, World primary Aluminium production increased by 5.7% in January 2013 compared to the similar period last year. Total reported primary Aluminium production was at 3.92 million tonnes in January 2013 as compared to 3.70 million tons in January 2012.
MCX Copper closed at Rs 428.2 per kg, down 1%. The supports for Copper is at Rs 426 and 425 per kg. Resistance for the contract is at Rs 433 per kg. LME Aluminium settled trading at $ 2016 per tonne, up $ 2.5 per tonne. MCX Aluminium settled at Rs 107.6, down Rs 1.6.
Source by Commodity Insights
Gold Inches Up But Stays Under $1600
Gold...
Gold futures inched up in the Asia electronic session today however strong gains in the equities kept it below $1600 an ounce. Gold tallied a gain of nearly $43, or 2.7%, on Monday and Tuesday. It is poised for a loss of around 4% for the month.
Gold for delivery in April is trading up $1.7 at $ 1597.4 per ounce on the Comex division of the New York Mercantile Exchange. It fell $19.80, or 1.2%, to settle at $1,595.70 an ounce yesterday. Prices had traded as high as $1,614.40 during the session.
On Wednesday, investors favored equities over gold. They cheered by a rise in pending home sales in January to the highest level since April 2010. Stocks also got a boost after remarks U.S. Federal Reserve Chairman Ben Bernanke this week assuaged fears over an end to the central bank’s quantitative-easing program.
On the economic front today, Japan's industrial production grew 1% during January for its second-straight monthly increase, the Ministry of Economy, Trade and Industry said Thursday. Transport equipment, including cars, was the top contributor to the gain, the ministry said. The yen gained fractionally after the data, with the dollar slipping from 92.34 to 92.31
MCX April gold futures may open today’s session near Rs 29800 levels with resistance near Rs 29840-870 levels. Yesterday the metal ended lower by 1.16% at Rs 29743 per 10 grams.
Source by Commodity Insights
Gold futures inched up in the Asia electronic session today however strong gains in the equities kept it below $1600 an ounce. Gold tallied a gain of nearly $43, or 2.7%, on Monday and Tuesday. It is poised for a loss of around 4% for the month.
Gold for delivery in April is trading up $1.7 at $ 1597.4 per ounce on the Comex division of the New York Mercantile Exchange. It fell $19.80, or 1.2%, to settle at $1,595.70 an ounce yesterday. Prices had traded as high as $1,614.40 during the session.
On Wednesday, investors favored equities over gold. They cheered by a rise in pending home sales in January to the highest level since April 2010. Stocks also got a boost after remarks U.S. Federal Reserve Chairman Ben Bernanke this week assuaged fears over an end to the central bank’s quantitative-easing program.
On the economic front today, Japan's industrial production grew 1% during January for its second-straight monthly increase, the Ministry of Economy, Trade and Industry said Thursday. Transport equipment, including cars, was the top contributor to the gain, the ministry said. The yen gained fractionally after the data, with the dollar slipping from 92.34 to 92.31
MCX April gold futures may open today’s session near Rs 29800 levels with resistance near Rs 29840-870 levels. Yesterday the metal ended lower by 1.16% at Rs 29743 per 10 grams.
Source by Commodity Insights
Wednesday, February 27, 2013
MCX Copper Recuperates After Upbeat Data From US
Copper.....
MCX Copper recuperated after the upbeat US economic data and the statement by Federal Reserve Chairman consoled the markets. Although LME Copper ended the ring trades down, the prices have recovered in early Asian trades on Wednesday. Copper three month forwards is trading at $ 7895 per tonne, after closing the last session down by $ 92 per tonne at $ 7793 per tonne.
Recovery in the US Dollar was downplayed by metals as the recovery in US new home sales and consumer confidence charged buying. US Dollar ended at 1.3059 against the Euro as against 1.3061 on 25 Feb 2013. Indian Rupee closed at 54.097 against US Dollar, down 227 pips.
Federal Reserve Chairman Ben Bernanke downplayed speculation that the central bank is getting ready to end quantitative easing programme. Bernanke said that the bond buying programme of $ 85 billion per month was necessary to keep housing recovery in progress.
The Conference Board said its consumer confidence index jumped to 69.6 in February from a revised 58.4 in January. Economists had been expecting the index to climb to 61. Meanwhile, New home sales in US surged by 15.6% to a seasonally adjusted rate of 437000 in the month of January as per the report from Commerce department.
Indian Copper April expiry closed at Rs 432.7 per kg, up 0.81%. The prices tested a high of Rs 433.5 per kg and a low of Rs 427.3 per kg. Copper is supported at Rs 426 per kg while the Resistance for the contract is at Rs 435 per kg. The prices are expected to open higher on Wednesday following rise of prices in LME.
MCX Nickel bounced by 0.56% on Tuesday at Rs 911 per kg. The prices tested a high of Rs 912.4 per kg and a low of Rs 896.4 per kg. It is expected that Nickel will form a base at Rs 895 per kg.
Powered by Commodity Insights
MCX Copper recuperated after the upbeat US economic data and the statement by Federal Reserve Chairman consoled the markets. Although LME Copper ended the ring trades down, the prices have recovered in early Asian trades on Wednesday. Copper three month forwards is trading at $ 7895 per tonne, after closing the last session down by $ 92 per tonne at $ 7793 per tonne.
Recovery in the US Dollar was downplayed by metals as the recovery in US new home sales and consumer confidence charged buying. US Dollar ended at 1.3059 against the Euro as against 1.3061 on 25 Feb 2013. Indian Rupee closed at 54.097 against US Dollar, down 227 pips.
Federal Reserve Chairman Ben Bernanke downplayed speculation that the central bank is getting ready to end quantitative easing programme. Bernanke said that the bond buying programme of $ 85 billion per month was necessary to keep housing recovery in progress.
The Conference Board said its consumer confidence index jumped to 69.6 in February from a revised 58.4 in January. Economists had been expecting the index to climb to 61. Meanwhile, New home sales in US surged by 15.6% to a seasonally adjusted rate of 437000 in the month of January as per the report from Commerce department.
Indian Copper April expiry closed at Rs 432.7 per kg, up 0.81%. The prices tested a high of Rs 433.5 per kg and a low of Rs 427.3 per kg. Copper is supported at Rs 426 per kg while the Resistance for the contract is at Rs 435 per kg. The prices are expected to open higher on Wednesday following rise of prices in LME.
MCX Nickel bounced by 0.56% on Tuesday at Rs 911 per kg. The prices tested a high of Rs 912.4 per kg and a low of Rs 896.4 per kg. It is expected that Nickel will form a base at Rs 895 per kg.
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Tuesday, February 26, 2013
Railway Budget 2013: No hike in passenger fares; freight revenues eyed
With an eye on elections, Railway Minister PK Bansal was forced to keep passenger fares unchanged despite railways suffering huge losses. This
will come as a surprise to many because Bansal had recently hinted at
hiking passenger fares.
"Since passenger fares were revised only in January this year, I do not intend to pass on the additional burden to them now and railways will absorb the impact of Rs 850 crore on this account ," Bansal said.
However, marginal increase in supplementary charge for superfast trains, reservation fee, clerkage charge, cancellation charge and tatkal charge has been proposed. In order to simplify the fee structure, the concept of enhanced reservation fee has been abolished.
Passenger traffic is expected to witness growth of 5.2 percent in 2013-14.
In a bid to offset the impact of recent diesel price hike on railway’s revenues, a dynamic fuel adjustment component will be introduced on freight rates from April 1, which will result in less than five per cent increase in rates.
Bansal expects freight earnings to grow by 9 percent to Rs 93,554 crore.
Indian Railways will borrow Rs 15,103 crore from markets for the financial year 2013-14. The deregulation of diesel prices and hike in electricity tariff is likely to result in a burden of Rs 5,100 crore in 2013-14, he added.
"Since passenger fares were revised only in January this year, I do not intend to pass on the additional burden to them now and railways will absorb the impact of Rs 850 crore on this account ," Bansal said.
However, marginal increase in supplementary charge for superfast trains, reservation fee, clerkage charge, cancellation charge and tatkal charge has been proposed. In order to simplify the fee structure, the concept of enhanced reservation fee has been abolished.
Passenger traffic is expected to witness growth of 5.2 percent in 2013-14.
In a bid to offset the impact of recent diesel price hike on railway’s revenues, a dynamic fuel adjustment component will be introduced on freight rates from April 1, which will result in less than five per cent increase in rates.
Bansal expects freight earnings to grow by 9 percent to Rs 93,554 crore.
Indian Railways will borrow Rs 15,103 crore from markets for the financial year 2013-14. The deregulation of diesel prices and hike in electricity tariff is likely to result in a burden of Rs 5,100 crore in 2013-14, he added.
Markets Speak: Aluminium Forwards Contango Has Increased Gradually In 2013
Aluminium.....
Aluminium forwards in LME are experiencing a rise in contango though on a slower basis. The contango is the condition when the forward prices are higher than the cash markets. The rise in contango is due to the fact that the inventories of Aluminium in hand are still quite higher and as the global demand picks up this can start to come down. But as of now the rise of Dollar and the fall in Chinese demand is hitting the spot markets hard.
Aluminium forwards were at a premium of $ 36 per tonne at the beginning of this year from where they have increased to $ 42 per tonne currently. The prices of LME forwards when last checked were at $ 2034 per tonne. Spot Aluminium in London was at $ 1993 per tonne.
Aluminium was in limelight this year when World Bank said that the commodity will be a winner in substitution affect compared to Copper. High prices of Copper and cheaper Aluminium will create mismatch between the two commodities that will help Aluminium. However, all the metals have come down since the forecasts due to lower appetite from China that these days consumes 40% of major metals in the world.
Source by Commodity Insights
Aluminium forwards in LME are experiencing a rise in contango though on a slower basis. The contango is the condition when the forward prices are higher than the cash markets. The rise in contango is due to the fact that the inventories of Aluminium in hand are still quite higher and as the global demand picks up this can start to come down. But as of now the rise of Dollar and the fall in Chinese demand is hitting the spot markets hard.
Aluminium forwards were at a premium of $ 36 per tonne at the beginning of this year from where they have increased to $ 42 per tonne currently. The prices of LME forwards when last checked were at $ 2034 per tonne. Spot Aluminium in London was at $ 1993 per tonne.
Aluminium was in limelight this year when World Bank said that the commodity will be a winner in substitution affect compared to Copper. High prices of Copper and cheaper Aluminium will create mismatch between the two commodities that will help Aluminium. However, all the metals have come down since the forecasts due to lower appetite from China that these days consumes 40% of major metals in the world.
Source by Commodity Insights
Friday, February 22, 2013
MCX Weekly Review: COMDEX Down Nearly 2.5%
Mcx.......
MCX Comdex was down by 2.44% to 3744.60 for the week till Thursday. MCX Metal was down by 3.19% to 5053.05 and MCX Energy was down by 2.76% to 3500.66.
Bullion
Gold April 13 contract was down by 2.37% to Rs 29742 per 10 grams, Gold M March 13 contract was down by 2.53% to Rs 29400 per 10 grams, Gold guinea February 13 contract was down by 2.97% to Rs 23464 per 8 grams, Gold Petal February 13 contract was down by 2.88% to Rs 2936 per gram and Gold Petal Del April 13 contract was down by 4.04% to Rs 2994 per gram. Silver March 13 contract was down by 4.45% to Rs 54112 per kg, Silver M February 13 contract was down by 4.46% to Rs 54127 per kg, Silver MIC February 13 contract was down by 4.47% to Rs 54128 per kg and Silver1000 March 13 contract was down by 7.04% to Rs 53501 per kg.
Metals
Nickel February 13 contract was down by 7.25% to Rs 912.90 per kg, Nickelm February 13 contract was down by 7.24% to Rs 913.00 per kg, Copper February 13 contract was down by 3.74% to Rs 429.05 per kg, Copper m February 13 contract was down by 3.74% to Rs 429.05 per kg, lead February 13 contract was down by 2.66% to Rs 126.40 per kg, lead mini February 13 contract was down by 2.66% to Rs 126.40 per kg, Aluminium February 13 contract was down by 2.66% to Rs 111.60 per kg, Alumini February 13 contract was down 2.66% to Rs 111.60 per kg, Zinc March 13 contract was down by 2.24% to Rs 115.50 per kg, Zinc mini March 13 contract was down by 2.24% to Rs 115.50 per kg and Steel RPR April 13 contract was down by 1.60% to Rs 31340.00 per MT.
Energy
Natural gas February 13 contract was up by 4.82% to Rs 178.50 per MMBTU while Crude oil March 13 contract was down by 3.84% to Rs 5012.00 per barrel and Brent crude oil March 13 contract was down by 2.41% to Rs 6242.00 per barrel.
Agri Commodities
Kapas March 13 contract was up by 5.31% to Rs 911.70 per 20 kgs, Menthaoil February 13 contract was up by 4.28% to Rs 1431.50 per kg, Cotton April 13 contract was up by 2.94% to Rs 18220.00 per bale, CPO March 13 contract was up by 2.25% to Rs 467.20 per 10 kgs, Kapaskhali February 13 contract was up by 1.69% to Rs 1322.00 per 100 kgs, Potato March 13 contract was up by 1.20% to Rs 840.70 per 100 kgs while Cardamom March 13 contract was down by 3.19% to Rs 985.90 per kg.
Source by Commodity Insights
MCX Comdex was down by 2.44% to 3744.60 for the week till Thursday. MCX Metal was down by 3.19% to 5053.05 and MCX Energy was down by 2.76% to 3500.66.
Bullion
Gold April 13 contract was down by 2.37% to Rs 29742 per 10 grams, Gold M March 13 contract was down by 2.53% to Rs 29400 per 10 grams, Gold guinea February 13 contract was down by 2.97% to Rs 23464 per 8 grams, Gold Petal February 13 contract was down by 2.88% to Rs 2936 per gram and Gold Petal Del April 13 contract was down by 4.04% to Rs 2994 per gram. Silver March 13 contract was down by 4.45% to Rs 54112 per kg, Silver M February 13 contract was down by 4.46% to Rs 54127 per kg, Silver MIC February 13 contract was down by 4.47% to Rs 54128 per kg and Silver1000 March 13 contract was down by 7.04% to Rs 53501 per kg.
Metals
Nickel February 13 contract was down by 7.25% to Rs 912.90 per kg, Nickelm February 13 contract was down by 7.24% to Rs 913.00 per kg, Copper February 13 contract was down by 3.74% to Rs 429.05 per kg, Copper m February 13 contract was down by 3.74% to Rs 429.05 per kg, lead February 13 contract was down by 2.66% to Rs 126.40 per kg, lead mini February 13 contract was down by 2.66% to Rs 126.40 per kg, Aluminium February 13 contract was down by 2.66% to Rs 111.60 per kg, Alumini February 13 contract was down 2.66% to Rs 111.60 per kg, Zinc March 13 contract was down by 2.24% to Rs 115.50 per kg, Zinc mini March 13 contract was down by 2.24% to Rs 115.50 per kg and Steel RPR April 13 contract was down by 1.60% to Rs 31340.00 per MT.
Energy
Natural gas February 13 contract was up by 4.82% to Rs 178.50 per MMBTU while Crude oil March 13 contract was down by 3.84% to Rs 5012.00 per barrel and Brent crude oil March 13 contract was down by 2.41% to Rs 6242.00 per barrel.
Agri Commodities
Kapas March 13 contract was up by 5.31% to Rs 911.70 per 20 kgs, Menthaoil February 13 contract was up by 4.28% to Rs 1431.50 per kg, Cotton April 13 contract was up by 2.94% to Rs 18220.00 per bale, CPO March 13 contract was up by 2.25% to Rs 467.20 per 10 kgs, Kapaskhali February 13 contract was up by 1.69% to Rs 1322.00 per 100 kgs, Potato March 13 contract was up by 1.20% to Rs 840.70 per 100 kgs while Cardamom March 13 contract was down by 3.19% to Rs 985.90 per kg.
Source by Commodity Insights
MCX Copper Contract Again Cornered By Adamant Sellers
Copper............
Adamant sellers of Copper have resisted any chances of the bottom fishing in the commodity. The prices have come down sharply on account of profit booking from technical levels and cash strapped traders tried to sit on cash.
Chinese traders remained pretty dormant in the markets and inventories data suggested that the offtake remained lower throughout the week. Shanghai inventories increased by 42101 tonnes to 471652 tonnes on 21 Feb 2013. LME inventories data showed a rise of 4100 tonnes in a single day today and inventories have reached 424350 tonnes.
In economic report, Germany's Ifo business climate rose more-than-expected last month, data showed on Friday. In a report, the Ifo Institute for Economic Research said its index of German business climate rose to 107.4, from 104.3 in the preceding month whose figure was revised up from 104.2.
LME three months Copper forwards was last seen trading at $ 7872 per tonne, down from $ 7874 per tonne on Thursday. MCX Copper February expiry contract was trading at Rs 426 per kg, down 0.6%. MCX Copper tested a high of Rs 431.6 and a low of Rs 426.1 per kg.
Nickel three month forwards were trading at $ 16798 per tonne, down from $ 16840 per tonne on Thursday. MCX Nickel was trading at Rs 908 per kg, down 0.5%. The prices tested a high of Rs 925.8 per kg and a low of Rs 906.7 per kg. China imported 772000 tons of stainless steel products, decreasing by 14.32% and the country exported 2.064 million tons of stainless steel products, falling by 8.06%, both compared to those in a year ago.
Source by Commodity Insights
Adamant sellers of Copper have resisted any chances of the bottom fishing in the commodity. The prices have come down sharply on account of profit booking from technical levels and cash strapped traders tried to sit on cash.
Chinese traders remained pretty dormant in the markets and inventories data suggested that the offtake remained lower throughout the week. Shanghai inventories increased by 42101 tonnes to 471652 tonnes on 21 Feb 2013. LME inventories data showed a rise of 4100 tonnes in a single day today and inventories have reached 424350 tonnes.
In economic report, Germany's Ifo business climate rose more-than-expected last month, data showed on Friday. In a report, the Ifo Institute for Economic Research said its index of German business climate rose to 107.4, from 104.3 in the preceding month whose figure was revised up from 104.2.
LME three months Copper forwards was last seen trading at $ 7872 per tonne, down from $ 7874 per tonne on Thursday. MCX Copper February expiry contract was trading at Rs 426 per kg, down 0.6%. MCX Copper tested a high of Rs 431.6 and a low of Rs 426.1 per kg.
Nickel three month forwards were trading at $ 16798 per tonne, down from $ 16840 per tonne on Thursday. MCX Nickel was trading at Rs 908 per kg, down 0.5%. The prices tested a high of Rs 925.8 per kg and a low of Rs 906.7 per kg. China imported 772000 tons of stainless steel products, decreasing by 14.32% and the country exported 2.064 million tons of stainless steel products, falling by 8.06%, both compared to those in a year ago.
Source by Commodity Insights
Nickel Rises On Technical Buying
Nickel............
Nickel prices were seen appreciating after a bloodbath in last four days both on MCX and LME. The MCX Nickel was seen trading at Rs 923 per kg, up 1% on technical buying. The metal markets have seen bargain buying ahead of weekend.
Indian Nickel corrected from the top of Rs 994 per kg and when it seemed that it will cross Rs 1000 per kg. LME Nickel was appreciating pretty fast and was last seen at $ 16901 per tonne, up $ 61 per tonne.
China that is the main consumer of stainless steel in the world has been struggling offlate due to higher production and lower offtake. Now the government is also acting in order to decrease the prices in property markets. This has strained Nickel that is used in producing austenitic steel grades.
According to statistics released by the Stainless Steel Council of China Special Steel Enterprise Association (CSSC), Chinas crude stainless steel production totaled 16.087 million tons in 2012, rising by 14.17% year on year.
Production of chrome-nickel based stainless steel was 7.926 million tons, rising by 9.54%. chrome based stainless steel production was 3.208 million tons increasing by 2.95% and 4.953 million tons were chrome-manganese based stainless steel, increasing by 32.47%, all compared to those in a year ago.
In 2012, China imported 772000 tons of stainless steel products, decreasing by 14.32% and the country exported 2.064 million tons of stainless steel products, falling by 8.06%, both compared to those in a year ago.
Source by Commodity Insights
Nickel prices were seen appreciating after a bloodbath in last four days both on MCX and LME. The MCX Nickel was seen trading at Rs 923 per kg, up 1% on technical buying. The metal markets have seen bargain buying ahead of weekend.
Indian Nickel corrected from the top of Rs 994 per kg and when it seemed that it will cross Rs 1000 per kg. LME Nickel was appreciating pretty fast and was last seen at $ 16901 per tonne, up $ 61 per tonne.
China that is the main consumer of stainless steel in the world has been struggling offlate due to higher production and lower offtake. Now the government is also acting in order to decrease the prices in property markets. This has strained Nickel that is used in producing austenitic steel grades.
According to statistics released by the Stainless Steel Council of China Special Steel Enterprise Association (CSSC), Chinas crude stainless steel production totaled 16.087 million tons in 2012, rising by 14.17% year on year.
Production of chrome-nickel based stainless steel was 7.926 million tons, rising by 9.54%. chrome based stainless steel production was 3.208 million tons increasing by 2.95% and 4.953 million tons were chrome-manganese based stainless steel, increasing by 32.47%, all compared to those in a year ago.
In 2012, China imported 772000 tons of stainless steel products, decreasing by 14.32% and the country exported 2.064 million tons of stainless steel products, falling by 8.06%, both compared to those in a year ago.
Source by Commodity Insights
Thursday, February 21, 2013
Aluminium Down By 1.3% On LME
Aluminum...........
Aluminium declined by 1.3% on London Metal Exchange as the technical selling coupled with bearish economic data heightened the pressure. LME three month forwards was last seen trading at $ 2081 per tonne, down 1.3% from last night. Markets were already jostling with the news that China might introduce new measures for controlling the bubble in its property market, when the news of Federal Reserve rethinking on stimulus measures hit the turf. The Dollar recovered sharply by 0.16% to 1.3262 against the Euro.
In a separate report, World Bureau of Metal Statistics (WBMS) has said that the primary aluminium surplus was 419400 tonnes in 2012. In the year 2011, the total surplus was 1.88 million tonnes. Primary Aluminium demand was 45.75 million tonnes, up 2.91 million tonnes in 2011.
Refined Aluminium production was 1.447 million tonnes or 3.2% higher in 2012. China production was estimated at 20.26 million tonnes in 2012, this was 44% of the total world production of Aluminium. The demand from China was 15% higher than 2011. Production in EU27 declined by 19% in 2012 while demand was 7.7% below 2011. In December, Primary Aluminium production was 3.94 million tonnes.
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Aluminium declined by 1.3% on London Metal Exchange as the technical selling coupled with bearish economic data heightened the pressure. LME three month forwards was last seen trading at $ 2081 per tonne, down 1.3% from last night. Markets were already jostling with the news that China might introduce new measures for controlling the bubble in its property market, when the news of Federal Reserve rethinking on stimulus measures hit the turf. The Dollar recovered sharply by 0.16% to 1.3262 against the Euro.
In a separate report, World Bureau of Metal Statistics (WBMS) has said that the primary aluminium surplus was 419400 tonnes in 2012. In the year 2011, the total surplus was 1.88 million tonnes. Primary Aluminium demand was 45.75 million tonnes, up 2.91 million tonnes in 2011.
Refined Aluminium production was 1.447 million tonnes or 3.2% higher in 2012. China production was estimated at 20.26 million tonnes in 2012, this was 44% of the total world production of Aluminium. The demand from China was 15% higher than 2011. Production in EU27 declined by 19% in 2012 while demand was 7.7% below 2011. In December, Primary Aluminium production was 3.94 million tonnes.
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Gold Drowns On QE Threats
Gold....
Gold futures crashed down hard extending its losses in the Asia electronic session today following a bearish FOMC meeting minutes report.
The Federal Reserves Open Market Committee in early January said U.S. economic conditions are improving to the point that its massive asset purchasing program (quantitative easing) may have to be changed. The FOMC will further address the issue at its next meeting in March. The U.S. Treasury markets, with their recent rising bond yields, are also hinting that the Feds very accommodative monetary policy of the past few years will start to wind down in the not-too-distant future.
Overall, many Fed officials are worried about the costs and risks of the asset purchases, the minutes show. During the meeting, several Fed officials expressed concern about the potential for excessive risk taking by investors due to the Feds ultra-loose policy. The Fed will meet next on March 19-20.
Gold for April delivery are trading down $18.4 at $ 1559.6 an ounce on the Comex division of the New York Mercantile Exchange. Yesterday, it ended lower by $26.2 or 1.6%, to settle at $1,578 an ounce.
Federal Reserve officials will consider major changes to the central banks quantitative-easing program at their next meeting in March, according to minutes of the January meeting released Wednesday. Fed officials appear divided about how to proceed with the current $85 billion per month purchase program.
Markets will be combing through a slew of U.S. data later in the day for more signs of a stronger economic recovery. The weekly jobless claims report, a survey on the manufacturing sector and home sales are all up next.
MCX April delivery gold futures may open today’s session near Rs 29500 levels with support around RS 29400 and RS 29250 levels.
Source : angel commodities
Gold futures crashed down hard extending its losses in the Asia electronic session today following a bearish FOMC meeting minutes report.
The Federal Reserves Open Market Committee in early January said U.S. economic conditions are improving to the point that its massive asset purchasing program (quantitative easing) may have to be changed. The FOMC will further address the issue at its next meeting in March. The U.S. Treasury markets, with their recent rising bond yields, are also hinting that the Feds very accommodative monetary policy of the past few years will start to wind down in the not-too-distant future.
Overall, many Fed officials are worried about the costs and risks of the asset purchases, the minutes show. During the meeting, several Fed officials expressed concern about the potential for excessive risk taking by investors due to the Feds ultra-loose policy. The Fed will meet next on March 19-20.
Gold for April delivery are trading down $18.4 at $ 1559.6 an ounce on the Comex division of the New York Mercantile Exchange. Yesterday, it ended lower by $26.2 or 1.6%, to settle at $1,578 an ounce.
Federal Reserve officials will consider major changes to the central banks quantitative-easing program at their next meeting in March, according to minutes of the January meeting released Wednesday. Fed officials appear divided about how to proceed with the current $85 billion per month purchase program.
Markets will be combing through a slew of U.S. data later in the day for more signs of a stronger economic recovery. The weekly jobless claims report, a survey on the manufacturing sector and home sales are all up next.
MCX April delivery gold futures may open today’s session near Rs 29500 levels with support around RS 29400 and RS 29250 levels.
Source : angel commodities
Mcx Lead
Lead.........
World Bureau of Metal Statistics has reported that the lead markets were in surplus of 14200 tonnes in 2012. This followed a deficit of 46600 tonnes in 2011. Lead stocks were 34300 tonnes higher from the end of 2011. Lead markets production was 5.27 million tonnes, was up 12.7% in 2012. Meanwhile, refined lead production was 10.48 million tonnes both from primary and secondary sources; the production was 1.1% higher than the previous year.
Refined lead production was 900900 tonnes in December 2012. Refined usage of Lead grew by 83000 tonnes. Apparent consumption in China was 4.67 million tonnes in 2012, up by 10000 tonnes from 2011. China consumed 45% of global total. Refined Lead consumption was 939500 tonnes in December 2012.
Meanwhile, LME three month forward prices were trading at $ 2333 per tonne, down $ 47 per tonne. MCX Lead was trading at Rs 125.8 per kg, down 0.75%.
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World Bureau of Metal Statistics has reported that the lead markets were in surplus of 14200 tonnes in 2012. This followed a deficit of 46600 tonnes in 2011. Lead stocks were 34300 tonnes higher from the end of 2011. Lead markets production was 5.27 million tonnes, was up 12.7% in 2012. Meanwhile, refined lead production was 10.48 million tonnes both from primary and secondary sources; the production was 1.1% higher than the previous year.
Refined lead production was 900900 tonnes in December 2012. Refined usage of Lead grew by 83000 tonnes. Apparent consumption in China was 4.67 million tonnes in 2012, up by 10000 tonnes from 2011. China consumed 45% of global total. Refined Lead consumption was 939500 tonnes in December 2012.
Meanwhile, LME three month forward prices were trading at $ 2333 per tonne, down $ 47 per tonne. MCX Lead was trading at Rs 125.8 per kg, down 0.75%.
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Wednesday, February 20, 2013
Mcx Natural Gas
Natural Gas...........
Its consumption is expected to increase from 95 trillion cubic feet in 2003 to 182 trillion cubic feet in 2030.
Nearly three quarter of the total global natural gas reserves are located in the West Asian and Eurasia regions. Iran, Qatar and Russia together accounts for nearly 58% of global natural gas reserve.
How to profit from Natural Gas boom?
Electrical and industrial sectors are two leading consumers of natural gas in the world. Developed countries led by U.S. are major consumers of natural gas at present. However, China and India are fast emerging as key players in natural gas demand.
Demand for natural gas growing at rapid clip during the past decade is expected to gather further momentum due to high price of oil as well as environmental concerns.
Natural gas is commercially produced from oil fields and natural gas fields. Gas produced from oil wells is called casinghead gas or associated gas. The largest two natural gas fields are probably South Pars Gas Field in Iran and Urengoy gas field in Russia, with reserves on the order of 1013 m³. Qatar also has 25 trillion cubic meters of natural gas (5% of the world's proven supply), enough to last 250 years at current production levels.
In India, the main producers of natural gas are Oil & Natural Gas Corporation Ltd. (ONGC), Oil India Limited (OIL) and JVs of Tapti, Panna-Mukta and Ravva. Under the Production Sharing Contracts, private parties from some of the fields are also producing gas.
Government have also offered blocks under New Exploration Licensing Policy (NELP) to private and public sector companies with the right to market gas at market determined prices.
Get all the hot topics, debates and news about Natural Gas here!
Most of the production of gas comes from the Western offshore area. The on-shore fields in Assam, Andhra Pradesh and Gujarat States are other major producers of gas. Smaller quantities of gas are also produced in Tripura, Tamil Nadu and Rajasthan States.
Natural gas has been utilised in Assam and Gujarat since the sixties. There was a major increase in the production & utilisation of natural gas in the late seventies with the development of the Bombay High fields and again in the late eighties when the South Bassein field in the Western Offshore was brought to production.
Natural Gas is currently the source of half of the LPG produced in the country. LPG is now being extracted from gas at Duliajan in Assam, Bijaipur in M.P., Hazira and Vaghodia in Gujarat, Uran in Maharashtra, Pata in UP and Nagapattinam in Tamil Nadu.
Know Natural Gas
Natural Gas,
touted as the clean fuel of 21st century, is fast emerging as a major
energy source all over the world. Yet another fossil fuel and often
found in oil fields and coal beds natural gas is estimated to contribute
around 26% of global energy consumption by 2030.Its consumption is expected to increase from 95 trillion cubic feet in 2003 to 182 trillion cubic feet in 2030.
Nearly three quarter of the total global natural gas reserves are located in the West Asian and Eurasia regions. Iran, Qatar and Russia together accounts for nearly 58% of global natural gas reserve.
How to profit from Natural Gas boom?
Electrical and industrial sectors are two leading consumers of natural gas in the world. Developed countries led by U.S. are major consumers of natural gas at present. However, China and India are fast emerging as key players in natural gas demand.
Demand for natural gas growing at rapid clip during the past decade is expected to gather further momentum due to high price of oil as well as environmental concerns.
Natural gas is commercially produced from oil fields and natural gas fields. Gas produced from oil wells is called casinghead gas or associated gas. The largest two natural gas fields are probably South Pars Gas Field in Iran and Urengoy gas field in Russia, with reserves on the order of 1013 m³. Qatar also has 25 trillion cubic meters of natural gas (5% of the world's proven supply), enough to last 250 years at current production levels.
In India, the main producers of natural gas are Oil & Natural Gas Corporation Ltd. (ONGC), Oil India Limited (OIL) and JVs of Tapti, Panna-Mukta and Ravva. Under the Production Sharing Contracts, private parties from some of the fields are also producing gas.
Government have also offered blocks under New Exploration Licensing Policy (NELP) to private and public sector companies with the right to market gas at market determined prices.
Get all the hot topics, debates and news about Natural Gas here!
Most of the production of gas comes from the Western offshore area. The on-shore fields in Assam, Andhra Pradesh and Gujarat States are other major producers of gas. Smaller quantities of gas are also produced in Tripura, Tamil Nadu and Rajasthan States.
Natural gas has been utilised in Assam and Gujarat since the sixties. There was a major increase in the production & utilisation of natural gas in the late seventies with the development of the Bombay High fields and again in the late eighties when the South Bassein field in the Western Offshore was brought to production.
Natural Gas is currently the source of half of the LPG produced in the country. LPG is now being extracted from gas at Duliajan in Assam, Bijaipur in M.P., Hazira and Vaghodia in Gujarat, Uran in Maharashtra, Pata in UP and Nagapattinam in Tamil Nadu.
Mcx Crude Oil
Crude Oil........
Crude oil - as petroleum directly out of the ground is called - is a remarkably varied substance, both in its use and composition. Crude oil is formed from the preserved remains of prehistoric zooplankton and algae, which have been settled to the sea (or lake) bottom in large quantities under anoxic conditions. It was formed over millions of years from the remains of tiny aquatic plants and animals that lived in ancient seas due to compression and heating of ancient organic materials over geological time. The oldest oil-bearing rocks date back to more than 600 million years, the youngest being as old as about 1 million years.
Find all the hot topics and debates on Crude Oil here!
Although various types of hydrocarbons - molecules made of hydrogen and carbon atoms - form the basis of all crude oils, they differ in their configurations. The chemical structure of petroleum is composed of hydrocarbon chains of different lengths. Because of this, petroleum may be taken to oil refineries and the hydrocarbon chemicals separated by distillation and treated by other chemical processes, to be used for a variety of purposes. It can be a straw-colored liquid or tar-black solid. Red, green and brown hues are not uncommon.
Burning crude oil itself is of limited use. To extract the maximum value from crude, it first needs to be refined into petroleum products. The best-known of these is gasoline, or petrol. However, there are many other products that can be obtained when a barrel of crude oil is refined. These include liquefied petroleum gas (LPG), naphtha, kerosene, gasoil and fuel oil. Other useful products which are not fuels can also be manufactured by refining crude oil, such as lubricants and asphalt (used in paving roads). A range of sub-items like perfumes and insecticides are also ultimately derived from crude oil.
Furthermore, several of the products listed above which are derived from crude oil, such as naphtha, gasoil, LPG and ethane, can themselves be used as inputs or feedstocks in the production of petrochemicals. There are more than 4,000 different petrochemical products, but those which are considered as basic products include ethylene, propylene, butadiene, benzene, ammonia and methanol. The main groups of petrochemical end-products are plastics, synthetic fibres, synthetic rubbers, detergents and chemical fertilisers.
Do you know what is Peak Oil? If not, check it out here!
Considering the vast number of products that are derived from it, crude oil is a very versatile substance. Life as we know it today would be extremely difficult without crude oil and its by-products.
The edifice modern industrial economy as well as agriculture depends upon crude oil in way or the other. Crude oil is also a key variable in global financial markets as the largest traded commodity in the world. Broadly crude oil is categorized into three groups – Brent Crude, West Texas Intermediate and OPEC Crude.
Brent crude is the standard benchmark of crude oil in Europe. Refined mainly in Northwest Europe North Sea coast is the main source of Brent Crude. Priced slightly above the reference price of Organization of Petroleum Exporting Countries Brent crude however is on average lower by U.S. $1-2 per barrel lower compared with West Texas Intermediate.
West Texan Intermediate known as WTI in trade parlance is considered as of very high quality due to very lower sulphur content. WTI normally commands a premium of $ 2-4 dollar per barrel compared with OPEC basket price and 1-2 with Brent Crude.
OPEC, the organization formed in mid 1960s by some of the major oil producing countries, is a powerful cartel in shaping global oil prices. Besides countries in West Asian region other key members in the cartel are Venezuela, Algeria and Nigeria.
Crude oil accounts for nearly 40% of the global energy demand. Global consumption of crude oil is estimated at 80 million barrels per day. The U.S. with 20 million is the leading consumer followed by China, Japan and European Union. Members of OPEC provide around 55% of global crude oil exports.
India, rated as one of the 10 top oil consumers in the world, depends on import for nearly 70% of its crude oil requirements. India’s consumption estimated at 2.5 million barrels per day is expected to rise further due to rapid pace of economic development. Domestic production of crude with less than 1 million barrels per day India depends heavily on imports. Indian imports are mainly from OPEC members.
Crude oil prices are highly sensitive to global political and economic developments. Oil prices surged ahead during the past three years from less than $30 per barrel to over $140 per barrel. Currently hovering around over $ 50 per barrel crude oil prices would play a crucial role in shaping the fortunes global economic developments as well as financial markets for a long time to come
Know Crude Oil
Crude oil is the
most widely used energy material in the world. Crude oil is a mixture of
hydrocarbons that exists in a liquid phase in natural underground
reservoirs. Oil and gas account for about 60 per cent of the total
world's primary energy consumption. Crude oil - as petroleum directly out of the ground is called - is a remarkably varied substance, both in its use and composition. Crude oil is formed from the preserved remains of prehistoric zooplankton and algae, which have been settled to the sea (or lake) bottom in large quantities under anoxic conditions. It was formed over millions of years from the remains of tiny aquatic plants and animals that lived in ancient seas due to compression and heating of ancient organic materials over geological time. The oldest oil-bearing rocks date back to more than 600 million years, the youngest being as old as about 1 million years.
Find all the hot topics and debates on Crude Oil here!
Although various types of hydrocarbons - molecules made of hydrogen and carbon atoms - form the basis of all crude oils, they differ in their configurations. The chemical structure of petroleum is composed of hydrocarbon chains of different lengths. Because of this, petroleum may be taken to oil refineries and the hydrocarbon chemicals separated by distillation and treated by other chemical processes, to be used for a variety of purposes. It can be a straw-colored liquid or tar-black solid. Red, green and brown hues are not uncommon.
Burning crude oil itself is of limited use. To extract the maximum value from crude, it first needs to be refined into petroleum products. The best-known of these is gasoline, or petrol. However, there are many other products that can be obtained when a barrel of crude oil is refined. These include liquefied petroleum gas (LPG), naphtha, kerosene, gasoil and fuel oil. Other useful products which are not fuels can also be manufactured by refining crude oil, such as lubricants and asphalt (used in paving roads). A range of sub-items like perfumes and insecticides are also ultimately derived from crude oil.
Furthermore, several of the products listed above which are derived from crude oil, such as naphtha, gasoil, LPG and ethane, can themselves be used as inputs or feedstocks in the production of petrochemicals. There are more than 4,000 different petrochemical products, but those which are considered as basic products include ethylene, propylene, butadiene, benzene, ammonia and methanol. The main groups of petrochemical end-products are plastics, synthetic fibres, synthetic rubbers, detergents and chemical fertilisers.
Do you know what is Peak Oil? If not, check it out here!
Considering the vast number of products that are derived from it, crude oil is a very versatile substance. Life as we know it today would be extremely difficult without crude oil and its by-products.
The edifice modern industrial economy as well as agriculture depends upon crude oil in way or the other. Crude oil is also a key variable in global financial markets as the largest traded commodity in the world. Broadly crude oil is categorized into three groups – Brent Crude, West Texas Intermediate and OPEC Crude.
Brent crude is the standard benchmark of crude oil in Europe. Refined mainly in Northwest Europe North Sea coast is the main source of Brent Crude. Priced slightly above the reference price of Organization of Petroleum Exporting Countries Brent crude however is on average lower by U.S. $1-2 per barrel lower compared with West Texas Intermediate.
West Texan Intermediate known as WTI in trade parlance is considered as of very high quality due to very lower sulphur content. WTI normally commands a premium of $ 2-4 dollar per barrel compared with OPEC basket price and 1-2 with Brent Crude.
OPEC, the organization formed in mid 1960s by some of the major oil producing countries, is a powerful cartel in shaping global oil prices. Besides countries in West Asian region other key members in the cartel are Venezuela, Algeria and Nigeria.
Crude oil accounts for nearly 40% of the global energy demand. Global consumption of crude oil is estimated at 80 million barrels per day. The U.S. with 20 million is the leading consumer followed by China, Japan and European Union. Members of OPEC provide around 55% of global crude oil exports.
India, rated as one of the 10 top oil consumers in the world, depends on import for nearly 70% of its crude oil requirements. India’s consumption estimated at 2.5 million barrels per day is expected to rise further due to rapid pace of economic development. Domestic production of crude with less than 1 million barrels per day India depends heavily on imports. Indian imports are mainly from OPEC members.
Crude oil prices are highly sensitive to global political and economic developments. Oil prices surged ahead during the past three years from less than $30 per barrel to over $140 per barrel. Currently hovering around over $ 50 per barrel crude oil prices would play a crucial role in shaping the fortunes global economic developments as well as financial markets for a long time to come
Mcx Zinc
Zinc.......
Zinc is a bluish-white lustrous metal. It is normally covered with a white coating on exposure to the atmosphere. Zinc dust is flammable when exposed to heat and burns with a bluish-green flame. Zinc also exists in many compounds.
Read all the Zinc and other Base Metals News and Features Here!
Zinc has a role in normal human growth, taste, and sperm development, but exposure to high levels of zinc through inhalation, ingestion, and dermal contact can cause adverse health effects.
Zinc is used for alloys, electroplating, metal spraying, electrical fuses, batteries, rubber, paint, glue and matches. Zinc is registered as a fungicide, herbicide, and rodenticide.
The primary stationary sources of zinc are electric services, petroleum refining, crude petroleum and natural gas extraction, manufacturing of fabricated rubber products, manufacturing of fabricated metal heating and plumbing products, and manufacturing of inorganic chemicals.
Indoor sources include infiltration of outdoor air, smoking, cooking, and other indoor sources. The average indoor concentration of zinc is normally slightly higher than the outdoor level. Zinc occurs naturally in the earth's crust.
The rapid growth in the Asian region is mainly the trigger for rise in global zinc consumption. Refined zinc output globally is expected to grow by a moderate 3 percent to 10.6 million ton in 2006; it may further move up to 11.0 million ton in 2007. Major producers in Asia are enhancing capacity to in tune with the demand for zinc in the coming years.
India is one of the fastest growing regions of zinc consumption in the world. Indian zinc demand is likely to grow 12-15 percent per annum compared with the global average of 5 percent. Growth in steel sector is the main factor behind the rise in domestic consumption as 70 percent of India’s zinc use is accounted by steel galvanizing.
India hopes to become self reliant in zinc production by 2010. Industry estimates place that India’s annual production has to touch 14 ton per year by 2020 if it has to sustain 10 percent growth till 2010 and at 7 percent rate thereafter.
Get the Indian Zinc Futures and Spot Prices Here!
The Indian zinc industry entered its transformation phase with the privatisation of the largest zinc producer, Hindustan Zinc Ltd, in favour of the Sterlite group in April 2002. The domestic zinc industry is now completely under the private sector and is in the midst of a serious expansion programme.
Even if one assumes that zinc demand grows by 10 per cent till 2010 and at slower 7 per cent thereafter, India would require zinc capacity of 14 lakh tpa by 2020, in order to be self-reliant. The next round of large capacity additions would, therefore, be warranted from 2008 onwards.
Factors Influencing Zinc Market
**Changes in inventory level at LME wharehouses
**Economic growth rate of major consuming countries
**Global growth and demand in major consuming industries
**Prices of the alternative metal(s)
**Participation of funds
Know Zinc
Zinc is the fourth widely used
metal after steel, aluminium and copper in the world. Mainly used for
galvanizing steel, zinc is also used in alloys, batteries, rubber,
paint, electroplating metal spraying and several other sectors. Due to
its resistance to non-acidic atmospheric corrosion zinc is instrumental
in extending the life of buildings, vehicles, ships and steel goods and
structures of every kind. Zinc is a bluish-white lustrous metal. It is normally covered with a white coating on exposure to the atmosphere. Zinc dust is flammable when exposed to heat and burns with a bluish-green flame. Zinc also exists in many compounds.
Read all the Zinc and other Base Metals News and Features Here!
Zinc has a role in normal human growth, taste, and sperm development, but exposure to high levels of zinc through inhalation, ingestion, and dermal contact can cause adverse health effects.
Zinc is used for alloys, electroplating, metal spraying, electrical fuses, batteries, rubber, paint, glue and matches. Zinc is registered as a fungicide, herbicide, and rodenticide.
The primary stationary sources of zinc are electric services, petroleum refining, crude petroleum and natural gas extraction, manufacturing of fabricated rubber products, manufacturing of fabricated metal heating and plumbing products, and manufacturing of inorganic chemicals.
Indoor sources include infiltration of outdoor air, smoking, cooking, and other indoor sources. The average indoor concentration of zinc is normally slightly higher than the outdoor level. Zinc occurs naturally in the earth's crust.
The rapid growth in the Asian region is mainly the trigger for rise in global zinc consumption. Refined zinc output globally is expected to grow by a moderate 3 percent to 10.6 million ton in 2006; it may further move up to 11.0 million ton in 2007. Major producers in Asia are enhancing capacity to in tune with the demand for zinc in the coming years.
India is one of the fastest growing regions of zinc consumption in the world. Indian zinc demand is likely to grow 12-15 percent per annum compared with the global average of 5 percent. Growth in steel sector is the main factor behind the rise in domestic consumption as 70 percent of India’s zinc use is accounted by steel galvanizing.
India hopes to become self reliant in zinc production by 2010. Industry estimates place that India’s annual production has to touch 14 ton per year by 2020 if it has to sustain 10 percent growth till 2010 and at 7 percent rate thereafter.
Get the Indian Zinc Futures and Spot Prices Here!
The Indian zinc industry entered its transformation phase with the privatisation of the largest zinc producer, Hindustan Zinc Ltd, in favour of the Sterlite group in April 2002. The domestic zinc industry is now completely under the private sector and is in the midst of a serious expansion programme.
Even if one assumes that zinc demand grows by 10 per cent till 2010 and at slower 7 per cent thereafter, India would require zinc capacity of 14 lakh tpa by 2020, in order to be self-reliant. The next round of large capacity additions would, therefore, be warranted from 2008 onwards.
Factors Influencing Zinc Market
**Changes in inventory level at LME wharehouses
**Economic growth rate of major consuming countries
**Global growth and demand in major consuming industries
**Prices of the alternative metal(s)
**Participation of funds
Mcx Lead
Lead..........
The pressure to end manufacture of lead-based paints is an example of the growing concern on the potential health hazards caused by lead. Plastics, aluminum, tin, and iron are replacing the use of lead in construction materials, containers, packaging, etc. Tin and other metals are being used to replace lead as a solder in some applications where lead could poison people, such as in drinking water systems.
Lead is a very corrosion-resistant, dense, ductile, and malleable blue-gray metal that has been used for at least 5,000 years. Early uses of lead included building materials, pigments for glazing ceramics, and pipes for transporting water. The castles and cathedrals of Europe contain considerable quantities of lead in decorative fixtures, roofs, pipes, and windows.
Get all the news, analysis, views and features on Lead here!
Prior to the early 1900's, uses of lead in the United States were primarily for ammunition, brass, burial vault liners, ceramic glazes, leaded glass and crystal, paints or other protective coatings, pewter, and water lines and pipes.
The advent of the electrical age and communications, which were accelerated by technological developments in World War I, resulted in the addition of bearing metals, cable covering, caulking lead, solders, and type metal to the list of lead uses. With the growth in production of public and private motorized vehicles and the associated use of starting-lighting-ignition (SLI) lead-acid storage batteries and terne metal for gas tanks after World War I, demand for lead increased.
Most of these uses for lead continued to increase with the growth in population and the national economy. Contributing to the increase in demand for lead was the use of lead as radiation shielding in medical analysis and video display equipment and as an additive in gasoline.
By the mid-1980's, a significant shift in lead end-use patterns had taken place. Much of this shift was a result of the U.S. lead consumers compliance with environmental regulations that significantly reduced or eliminated the use of lead in nonbattery products, including gasoline, paints, solders, and water systems.
More recently, as the use of lead in nonbattery products has continued to decline, the demand for lead in SLI-type batteries has continued to grow. In addition, the demand for lead in non-SLI battery applications also has continued to grow.
Non-SLI battery applications include motive sources of power for industrial forklifts, airport ground equipment, mining equipment, and a variety of nonroad utility vehicles, as well as stationary sources of power in uninterruptible electric power systems for hospitals, computer and telecommunications networks, and load-leveling equipment for electric utility companies. By the early 2000's, the total demand for lead in all types of lead-acid storage batteries represented 88% of apparent U.S. lead consumption.
Other significant uses included ammunition (3%), oxides in glass and ceramics (3%), casting metals (2%), and sheet lead (1%). The remainder was consumed in solders, bearing metals, brass and bronze billets, covering for cable, caulking lead, and extruded products.
Get India Futures and Spot Prices on Lead Here!
Lead is mined in the United States, Canada, Mexico, Australia, and Peru. More than 1 million tons of lead is recovered in recycling annually, the majority of which is from the recycling of batteries.
Australia and China are the leading suppliers of lead in the world. China, India, Japan, US and European Union are the main consumers of lead in the world. Lead is traded mostly as soft lead, animated lead, lead alloys and copper-based lead scrap.
India imports nearly 50 percent of its lead requirement every year. Lead production in India is estimated to be around 82,000 ton, mostly from secondary sources. Lack of any major lead ore deposit is the main constraint for enhancing domestic lead production.
The domestic industry is characterized by the presence of only a few players in the primary segment. The primary lead industry in India is divided between the following main players: Binani Industries Limited and Sterlite Industries (India) Ltd. (Hndustan Zinc Ltd.). Due to increasing use of lead in domestic market both players are expanding their smelting capacities for lead.
Lead in the global market is traded as soft lead, animated lead, lead alloys and copper-base scrap.
Know Lead
Like copper, lead
has also been a familiar metal used by human beings since ancient
times. Lead, a highly malleable and easy to melt metal, is widely used
in various industries even today. However, due to its highly toxic
nature, the use of lead has been facing pressure from environmentalists
in recent years. The pressure to end manufacture of lead-based paints is an example of the growing concern on the potential health hazards caused by lead. Plastics, aluminum, tin, and iron are replacing the use of lead in construction materials, containers, packaging, etc. Tin and other metals are being used to replace lead as a solder in some applications where lead could poison people, such as in drinking water systems.
Lead is a very corrosion-resistant, dense, ductile, and malleable blue-gray metal that has been used for at least 5,000 years. Early uses of lead included building materials, pigments for glazing ceramics, and pipes for transporting water. The castles and cathedrals of Europe contain considerable quantities of lead in decorative fixtures, roofs, pipes, and windows.
Get all the news, analysis, views and features on Lead here!
Prior to the early 1900's, uses of lead in the United States were primarily for ammunition, brass, burial vault liners, ceramic glazes, leaded glass and crystal, paints or other protective coatings, pewter, and water lines and pipes.
The advent of the electrical age and communications, which were accelerated by technological developments in World War I, resulted in the addition of bearing metals, cable covering, caulking lead, solders, and type metal to the list of lead uses. With the growth in production of public and private motorized vehicles and the associated use of starting-lighting-ignition (SLI) lead-acid storage batteries and terne metal for gas tanks after World War I, demand for lead increased.
Most of these uses for lead continued to increase with the growth in population and the national economy. Contributing to the increase in demand for lead was the use of lead as radiation shielding in medical analysis and video display equipment and as an additive in gasoline.
By the mid-1980's, a significant shift in lead end-use patterns had taken place. Much of this shift was a result of the U.S. lead consumers compliance with environmental regulations that significantly reduced or eliminated the use of lead in nonbattery products, including gasoline, paints, solders, and water systems.
More recently, as the use of lead in nonbattery products has continued to decline, the demand for lead in SLI-type batteries has continued to grow. In addition, the demand for lead in non-SLI battery applications also has continued to grow.
Non-SLI battery applications include motive sources of power for industrial forklifts, airport ground equipment, mining equipment, and a variety of nonroad utility vehicles, as well as stationary sources of power in uninterruptible electric power systems for hospitals, computer and telecommunications networks, and load-leveling equipment for electric utility companies. By the early 2000's, the total demand for lead in all types of lead-acid storage batteries represented 88% of apparent U.S. lead consumption.
Other significant uses included ammunition (3%), oxides in glass and ceramics (3%), casting metals (2%), and sheet lead (1%). The remainder was consumed in solders, bearing metals, brass and bronze billets, covering for cable, caulking lead, and extruded products.
Get India Futures and Spot Prices on Lead Here!
Lead is mined in the United States, Canada, Mexico, Australia, and Peru. More than 1 million tons of lead is recovered in recycling annually, the majority of which is from the recycling of batteries.
Australia and China are the leading suppliers of lead in the world. China, India, Japan, US and European Union are the main consumers of lead in the world. Lead is traded mostly as soft lead, animated lead, lead alloys and copper-based lead scrap.
India imports nearly 50 percent of its lead requirement every year. Lead production in India is estimated to be around 82,000 ton, mostly from secondary sources. Lack of any major lead ore deposit is the main constraint for enhancing domestic lead production.
The domestic industry is characterized by the presence of only a few players in the primary segment. The primary lead industry in India is divided between the following main players: Binani Industries Limited and Sterlite Industries (India) Ltd. (Hndustan Zinc Ltd.). Due to increasing use of lead in domestic market both players are expanding their smelting capacities for lead.
Lead in the global market is traded as soft lead, animated lead, lead alloys and copper-base scrap.
Mcx Gold
Gold...............
Gold prices on Saturday plunged to a six-month low of Rs 30,390 per 10 grams due to brisk selling by stockists on fall in demand amid weak global trend.
After losing Rs 175 in the last two sessions, the precious metal fell further by Rs 235 to Rs 30,390 per 10 grams, a level last seen on August 16 last year.
Bullion merchants said demand for the precious metals dried up after end of the marriage and festive season which normally boost the buying activity.
They said a weak trend in the overseas markets where gold dipped below $1,600 an ounce after Federal Reserve Chairman said the US economy is recovering, also reduced demand for the metals as an alternate investment option.
Meanwhile, the world's largest gold investors offloading their holdings in exchange-traded products backed by gold last quarter, further influenced the market sentiment, they added.
Billionaire investors George Soros and Louis Moore Bacon cut their stakes in exchange-traded products backed by gold last quarter as the prices dropped the most in more than eight years.
With a general weakening trend, silver prices also declined sharply on reduced offtake by industrial units and coin makers.
On the domestic front, gold of 99.9 and 99.5 per cent purity dropped by Rs 235 each to Rs 30,390 and Rs 30,190 per 10 grams, respectively. Sovereigns lost Rs 50 to Rs 25,200 per piece of eight grams.
Silver ready fell by Rs 570 to Rs 56,530 per kg and weekly-based delivery by Rs 1,315 to Rs 56,060 per kg on the lack of buying by speculators.
As the seasonal demand tumbled, silver coins dropped by Rs 2,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.
Gold prices on Saturday plunged to a six-month low of Rs 30,390 per 10 grams due to brisk selling by stockists on fall in demand amid weak global trend.
After losing Rs 175 in the last two sessions, the precious metal fell further by Rs 235 to Rs 30,390 per 10 grams, a level last seen on August 16 last year.
Bullion merchants said demand for the precious metals dried up after end of the marriage and festive season which normally boost the buying activity.
They said a weak trend in the overseas markets where gold dipped below $1,600 an ounce after Federal Reserve Chairman said the US economy is recovering, also reduced demand for the metals as an alternate investment option.
Meanwhile, the world's largest gold investors offloading their holdings in exchange-traded products backed by gold last quarter, further influenced the market sentiment, they added.
Billionaire investors George Soros and Louis Moore Bacon cut their stakes in exchange-traded products backed by gold last quarter as the prices dropped the most in more than eight years.
With a general weakening trend, silver prices also declined sharply on reduced offtake by industrial units and coin makers.
On the domestic front, gold of 99.9 and 99.5 per cent purity dropped by Rs 235 each to Rs 30,390 and Rs 30,190 per 10 grams, respectively. Sovereigns lost Rs 50 to Rs 25,200 per piece of eight grams.
Silver ready fell by Rs 570 to Rs 56,530 per kg and weekly-based delivery by Rs 1,315 to Rs 56,060 per kg on the lack of buying by speculators.
As the seasonal demand tumbled, silver coins dropped by Rs 2,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.
Mcx Gold........
Gold............
Gold futures inched up in the Asia trading action today as the traders bought the commodity after it tumbled for fourth session in a row to log their lowest settlement since mid-August.
Gold for delivery in April is trading up $3.4 at $ 1607.4 an ounce on the Comex division of the New York Mercantile Exchange. It fell $5.30, or 0.3%, to settle at $1,604.20 an ounce, holding above $1,600 throughout the trading session.
The settlement was the lowest for a most-active gold futures contract since Aug. 14. Prices lost $26 on Friday, and U.S. markets were closed for Presidents Day on Monday.
U.S. stocks rose on Wall Street, buoyed by hopes for more deal activity. European equities also climbed following stronger-than-expected German investor-sentiment data.
Prices saw little reaction to data Tuesday showing a fall in U.S. home-builder confidence for February. The market will likely look to data Wednesday on the producer price index and the release of minutes from the Federal Reserve’s Open Market Committee Jan. 30 meeting. Data on consumer prices and existing-home sales are due Thursday.
On the data front today, Japanese exports grew faster than expected in January, with shipments to China swing back to growth after a recent fall-off, though the trade deficit hit an all time record, according to data out Wednesday. Japans exports rose 6.4% last month from a year earlier, the Finance Ministry said.
MCX April gold futures may open today’s session near Rs 30085 levels with resistance near Rs 30110 levels. Yesterday, it closed lower by Rs 124 at Rs 30,052 per ten grams. Prices rose to a high of Rs 30,220 per 10 grams and fell to a low of Rs 29,977 per 10 grams during the days trading.
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Gold futures inched up in the Asia trading action today as the traders bought the commodity after it tumbled for fourth session in a row to log their lowest settlement since mid-August.
Gold for delivery in April is trading up $3.4 at $ 1607.4 an ounce on the Comex division of the New York Mercantile Exchange. It fell $5.30, or 0.3%, to settle at $1,604.20 an ounce, holding above $1,600 throughout the trading session.
The settlement was the lowest for a most-active gold futures contract since Aug. 14. Prices lost $26 on Friday, and U.S. markets were closed for Presidents Day on Monday.
U.S. stocks rose on Wall Street, buoyed by hopes for more deal activity. European equities also climbed following stronger-than-expected German investor-sentiment data.
Prices saw little reaction to data Tuesday showing a fall in U.S. home-builder confidence for February. The market will likely look to data Wednesday on the producer price index and the release of minutes from the Federal Reserve’s Open Market Committee Jan. 30 meeting. Data on consumer prices and existing-home sales are due Thursday.
On the data front today, Japanese exports grew faster than expected in January, with shipments to China swing back to growth after a recent fall-off, though the trade deficit hit an all time record, according to data out Wednesday. Japans exports rose 6.4% last month from a year earlier, the Finance Ministry said.
MCX April gold futures may open today’s session near Rs 30085 levels with resistance near Rs 30110 levels. Yesterday, it closed lower by Rs 124 at Rs 30,052 per ten grams. Prices rose to a high of Rs 30,220 per 10 grams and fell to a low of Rs 29,977 per 10 grams during the days trading.
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