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Showing posts with label Commodity Tips Provider. Show all posts
Showing posts with label Commodity Tips Provider. Show all posts

Saturday, 18 August 2018

NCDEX Oct Soybean edged higher on Thursday mainly on fresh buying initiated by the market participants on good meal exports. The government has increased the export incentives on soymeal to 10% of the free - on - board value from the current 7% till Mar 31. According to the latest report by the Soybean Processors' Association of India, India's soymeal exports rose 12% on year to 102,000 in July. Soymeal exports in August are expected to double on year to over 100,000 to due to robust demand from European countries. There was strong demand from Bangladesh, France, and Israel boosting export of the oilmeal. The area under soybean in the country increased by 9 % at 11.1 lakh ha as of last week compared to last year sowing, according to data released by the farm ministry.
Outlook
Soybean futures are expected to trade sideways to higher due to higher crushing demand due to increase the incentives for soy meal exports. However, the expectation of good area this season due to the forecast of normal rains is keeping the prices

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Thursday, 16 August 2018



BULLION:-

Gold prices on Thursday hit their lowest in more than 19 months, with the US dollar holding steady near a recent peak as concerns about a Turkey crisis and China’s economic health weighed on emerging market currencies. The United States on Wednesday ruled out removing steel tariffs that have contributed to a currency crisis in Turkey even if Ankara frees a U.S. pastor, as Qatar pledged $15 billion in investment to Turkey, supporting a rise in the Turkish lira. The United States on Wednesday imposed sanctions on a Russian port service agency and Chinese firms for aiding North Korean ships and selling alcohol and tobacco to Pyongyang in breach of U.S. sanctions aimed at pressuring North Korea to end its nuclear programs. Some emerging market countries pared their holdings of U.S. Treasuries in June, data from the U.S. Treasury department showed on Wednesday, in what analysts viewed as a move to support their currencies as the Federal Reserve started raising interest rates this year. U.S. retail sales rose more than expected in July as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter. China’s state planner pledged on Wednesday to keep debt levels under control even as Beijing rolls out fresh stimulus to support the stumbling economy as a trade war with the U.S. deepens.

METALS:-

Copper prices fell to a fresh 13-month low after data showed fixed-asset investment in China slowed to a nearly two-decade low in the first seven months of the year. A strike had been averted at the world's largest copper mine put a cap on hopes of recovery for the bellwether metal. Reuters reported that management at Chile’s Escondido, said it struck a deal on Wednesday on a new labor contract with the union representing most of its workers. Large rises in zinc stocks stored in LME-approved warehouses have created $16 a tone discount between the cash and three-month contracts from a premium of about $60 a tone at the end of July. LME stocks, at 256,175 tones, have jumped more than 10 percent since last week. China’s primary aluminum production climbed 12 percent in July from the same period a year ago, equaling its monthly record, as new smelters took output back towards levels before capacity closures in mid-2017. According to Japan's Ministry of Finance, Japan's Merchandise Trade Balance contracted by much more than expected, sinking to ¥-231.2 billion compared to the expected ¥-41.2 billion. The prior trade balance was ¥720.8 billion. The adjusted trade balance also missed and printed in contraction, coming in at ¥-45.6 billion versus the expected ¥20.7 billion surplus. Exports sank to 3.9% y/y compared to the forecast 6.3%; previous was 6.7%. Imports surged to 14.6% y/y, last was 2.6%. Exports to the US declined in July by 5.2% y/y, while exports to China lifted 11.9% y/y.

ENERGY:-


Oil prices plunged after government data showed a big, unexpected jump in stockpiles of U.S. crude, compounding pressure as the outlook for global economic growth darkened and the stock market slumped. After the American Petroleum Institute surprised markets by reporting a build of 3.66 million barrels for the week ending August 10, the Energy Information Administration confirmed a build, but reported that it had been significantly bigger at 6.8 million barrels. The EIA reported that at 414.2 million barrels, U.S. crude oil inventories are a bit above the five-year average for the season. In gasoline, inventories were down by 700,000 barrels last week, compared with a build of 2.9 million barrels a week earlier but slightly above the seasonal average. Gasoline production averaged 10.2 million bpd, from 9.9 million bpd the week before last. Distillate inventories added 3.6 million barrels last week, after a build of 1.2 million barrels in the prior week, with production averaging 5.3 million bpd, up by 100,000 bpd on the previous week. Meanwhile the market is worrying about supply from Venezuela and preparing for the last round of U.S. sanctions against Iran, which will target its oil industry specifically. Some oil bulls are preparing for oil prices of US$150 and even US$200, Reuters reported yesterday, citing prominent hedge fund manager Pierre Andorran and Jean-Louis Mee, chief executive of West beck Capital.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Thursday, 9 August 2018


BULLION :-

Gold prices held broadly steady early on Friday after dipping the session before, drawing some support from global political tensions and a slightly weaker dollar against the yen. Japan’s economy expanded at an annualized rate of 1.9 percent in April-June, bouncing back from a contraction in the previous quarter, government data showed on Friday, in a sign its recovery momentum remained intact. Asian stock markets fell on Friday amid heightened global trade tensions, while currency markets were whipsawed by a searing selloff in Russia’s ruble after the United States slapped on new sanctions, and as economic worries sent the Turkish lira tumbling. Russia condemned a new round of U.S. sanctions as illegal on Thursday and said it had begun working on retaliatory measures after news of the curbs pushed the ruble to two-year lows over fears Moscow was locked in a spiral of never-ending sanctions. Turkey’s lira tumbled to another record low against the dollar on Thursday after a Turkish delegation returned from meeting U.S. officials in Washington with no apparent solution to a diplomatic rift that has opened up between them. North Korea on Thursday denounced U.S. calls for enforcing international sanctions despite its goodwill moves and said progress on denuclearization promises could not be expected if Washington followed an “outdated acting script”. The number of Americans filing for unemployment benefits unexpectedly fell last week, suggesting that a strong economy was helping the labor market weather ongoing trade tensions between the United States and a host of other countries.

ENERGY :-

Crude oil futures were largely stable during mid-morning trade in Asia Friday as expectations of rising supply balanced global trade tensions, keeping prices largely unchanged after a mid-week decline. Prices retreated Wednesday after the release of data showing a smaller-than expected fall in US crude inventories and a build in US product inventories, but rising trade tensions between US and China and increasing output by OPEC producer Iraq was keeping prices in a tight range Friday. In response to the latest round of US tariffs on Chinese imports, China Wednesday announced it would impose a 25% tariff on $16 billion worth of US goods from August 23. This is expected to include US gasoline and diesel. In Iraq, crude oil production hit a 13-month high in July at 4.46 million b/d, the country's State Oil Marketing Organization said Thursday. Iraq has consistently reported production above 4.36 million b/d since last September. The totals include output from the semi-autonomous Kurdistan Regional Government. Iraq said it exported 3.875 million b/d in July, up 25,000 b/d from June, and the highest level since January 2017. Iraq reported its highest crude oil production in 13 months in July to 4.46 million b/d, underpinning market-watchers' anticipation over potentially stronger supplies into H2 2018.

METALS :-

Copper prices moved higher in Shanghai and London in early Asian trade on Friday and were set to end the week in positive territory as the prospect of strikes at copper mines in Chile, including Escondida, the world’s largest, drew nearer. Three-month copper on the London Metal Exchange nudged up 0.2 percent to $6,212.50 a tonne, as of 0116 GMT, extending a 0.8 percent gain in the previous session. The main union at Chile’s Caserones copper mine said on Wednesday that a last round of labor negotiations with mine operator Lumina Copper had broken down and that a strike was imminent. Three-month aluminum on the LME was up 1 percent at $2,089 a tonne, after ending down 1.3 percent in the previous session on profit-taking. ShFE aluminum was down 0.6 percent at 14,665 yuan a tonne. On-warrant stocks of aluminum available to the market in LME-registered warehouses have fallen to 832,775 tonnes, the lowest since 2007, supporting prices.


Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Tuesday, 7 August 2018


Gold gains slightly as lower price levels induce buying.

The U.S. Federal Reserve is widely expected to raise benchmark lending rates, for the third time this year, at its next policy meet in September. Higher U.S. rates tend to boost the dollar, making greenback-denominated gold more expensive for holders of other currencies. Global markets on Tuesday remained focused on developments on the trade war front while oil investors braced for impact from the first set of U.S. sanctions on Iran, set to take effect at 0401 GMT. Spot gold is poised to break a support at $1,206 per ounce, and fall towards the next support at $1,194, according to Reuters technical’s analyst Wang Tao.

Copper down with escalating US-China trade wars.

Copper fell to a low of $6,064/mt and closed at $6,105/mt in LME on Monday. The SHFE 1809 contract opened lower but recovered some losses later, closing at 49,330 yuan/mt. Shorts are likely to drag LME copper down to the $6,000/mt level with escalating US-China trade wars. We expect LME copper to trade at $6,070-6,130/mt today with the SHFE 1809 contract at 49,000-49,500 yuan/mt. Spot premiums are likely to sustain at 70-100 yuan/mt today.

Nickel fell down as low in demand and recovery in production.

 LME nickel reversed early losses, hitting a high of $13,725/mt and closing at $13,700/mt last night. The SHFE 1809 contract jumped past the 40-day moving average to a high of 112,780 yuan/mt and closed at 112,480 yuan/mt overnight. The shrinking LME and SHFE inventory gave some support to nickel prices. We expect LME nickel to hover around $13,600/mt today with the SHFE 1809 contract at 110,000-112,000 yuan/mt. Spot prices are seen at 111,000-113,000 yuan/mt..

Oil rises ahead of renewed U.S. sanctions against Iran. 

Oil prices rose on Tuesday ahead of the introduction of U.S. sanctions against major crude exporter Iran. U.S. sanctions against Iran, which shipped out almost 3 million barrels per day (bpd) of crude in July, are set to begin at 12:01 a.m. U.S. Eastern time (0401 GMT) on Tuesday. Many countries, including U.S. allies in Europe as well as China and India, oppose the introduction of new sanctions, but the U.S. government said it wants as many countries as possible to stop buying Iranian oil. The main oil market price drivers of recent months have been output levels by top producers Russia, Saudi Arabia, and the United States, renewed Iran sanctions, the U.S.-China trade dispute, and unplanned supply disruptions. Some analysts warned that a global heat wave could also now affect oil demand. Much of the northern hemisphere has been gripped by extreme heat this summer, pushing up demand for industrial and residential cooling.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.



BULLION:-
Gold prices edged up on a steady US dollar early Tuesday, but expectations for further interest rate hikes in the United States supported the greenback and limited interest in the metal. Asian stocks were largely steady on Tuesday, with worries over the US-China trade conflict offsetting support from earnings-led gains on Wall Street. On Tuesday the pound held near an 11-month low against the dollar reached overnight on worries of a "hard" Brexit for Britain while simmering US-China trade tensions helped support the greenback. Chinese state media on Monday criticised US President Donald Trump's trade policies in an unusually personal attack, and sought to reassure investors anxious about China's economy as growth concerns battered its financial markets. China's exports are expected to have maintained solid growth in July despite new tariffs on billions of dollars of shipments to the United States, though the outlook has darkened as both sides raised the stakes in a trade conflict that has rattled financial markets. The Trump administration will aggressively enforce economic sanctions that it is re-imposing on Iran this week and expects the measures to have a significant impact on the Iranian economy, senior U.S. administration officials said on Monday. SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.78% to788.71 tonnes on Monday from 794.90 tonnes on Friday.

ENERGY:-
Crude oil was largely stable in morning trade in Asia Tuesday after settling higher on Monday as supply-side indicators and geopolitical tensions kept a lid on volatility while inventors awaited fresh fundamental cues from weekly US inventory data. Crude prices have been volatile in recent sessions as the market reacted to an increased supply from OPEC and Russia while weighing the impact of a lack of Iranian barrels in the market due to US sanctions, analysts said. Discussion around possible waivers from the US for some importing countries was still floating around the market, resulting in uncertainty about the impact the Iranian sanctions will likely have. US sanctions on Iran's oil customers snap back November 4 and could remove up to 1 million b/d of oil from the global market. "Our goal is to get the import of Iranian oil to zero," a senior US administration official said Monday during a briefing with reporters. "We are not looking to grant exemptions or waivers but are glad to discuss requests and look at requests on a case-by-case basis." The official declined to say whether any limited waivers had been granted. "We don't disclose private deliberation with other governments over these things," he said.

METALS:-
Copper remains under pressure during early trading hours on Tuesday as an escalating trade dispute between Washington and Beijing stoking concerns over demand in China, the world’s biggest industrial metals consumer. On Friday China unveiled tariffs on 5,207 items imported from the United States, with the extra levies ranging from 5 percent to 25 percent, which analysts say could eventually undermine growth. However, even though items earmarked for the 25 percent tariff include copper ore and concentrates, the quantities involved are not significant for China. Miner BHP said on Monday that it had formally requested a period of government mediation with the union at its Escondida copper mine in Chile, the world’s largest, prompting the union to postpone the start of a strike approved by workers. Four more cities in northeast China’s Liaoning province have abandoned proposed alumina projects amid public environmental concerns, after Chaoyang last week scrapped plans to build the world’s biggest alumina refinery. The cancellations - announced by the cities of Fengcheng, Fuxin, Gaizhou and Huludao - mean projects designed to produce over 18.5 million tonnes of alumina will not go ahead as planned. Also indicative of robust demand is falling even.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.


Monday, 6 August 2018



Precious Metals

CS GOLD (OCT) OVERVIEW: TREND : BULLISH RESIST 
2: 29900 RESIST
1: 29800 SUP
1: 29600 SUP
2: 29500

 CS SILVER (SEP) OVERVIEW: TREND : SIDEWAYS RESIST 
2: 38400 RESIST
 1: 38200 SUP
1: 37850 SUP
2: 37650 

Base Metals


  • CS COPPER (AUG) OVERVIEW: TREND : SIDEWAYS RESIST

 2: 425.50 RESIST
 1: 421.50 SUP
1: 416.00 SUP
 2: 412.50


  • CS NICKEL (AUG) OVERVIEW:  TREND : BEARISH RESIST

 2: 938.50 RESIST
1: 929.50 SUP
1: 910.00 SUP
 2: 900.00


  • CS ZINC (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 

2: 185.50 RESIST
 1: 184.00 SUP
 1: 177.00 SUP
2: 175.50

  •  CS LEAD (AUG) OVERVIEW: TREND : BEARISH RESIST

 2: 149.50 RESIST
 1: 148.00 SUP
1: 144.50 SUP
2: 143.00


  • CS ALUMINIUM (AUG) OVERVIEW: TREND : BEARISH RESIST 

2: 141.50 RESIST
1: 140.50 SUP
1: 138.50 SUP
2: 137.50

Energies


  • CS CRUDE OIL (AUG) OVERVIEW: TREND : BEARISH RESIST 

2: 4750 RESIST
1: 4690 SUP
1: 4620 SUP
2: 4580

  •  CS NATURAL GAS (AUG) OVERVIEW: TREND : BULLISH RESIST

 2: 200.00 RESIST
1: 197.50 SUP
1: 193.00 SUP
2: 191.00

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.



Gold extends rally from 17-mth low, stronger dollar caps gains.

Gold prices inched higher on Monday, extending their recovery from a 17-month low, amid lingering worries over the U.S.-China trade conflict, while a stronger U.S. dollar capped the safe havens gains. Gold prices rebounded on Friday from a 17-month low of $1,204 per ounce as dollar slipped after data showed U.S. job growth slowed in July. The dollar also weakened against the yuan on Friday after the Chinese central bank sought to stabilize its currency. greenback, however, regained footing on Monday and strengthened against major peers. China proposed retaliatory tariffs on $60 billion worth of U.S. goods on Friday, further escalating a bitter trade conflict, after the Trump administration sought to ratchet up pressure for trade concessions by proposing a higher 25-percent tariff on $200 billion worth of Chinese imports.

Copper prices to rebound given the low global inventory and the risk of a strike at Escondida copper mine.
Copper came off from a high of $6,230/mt and closed at $6,176/mt in LME on Friday. Copper surged up in MCX Friday market and made a high of 422.40 and close at 419.05. Despite uncertain developments in the US-China trade disputes, we see possibility for copper prices to rebound given the low global inventory and the risk of a strike at Escondida copper mine. LME copper is likely to trade at $6,130-6,180/mt today
Nickel fell down as low in demand and recovery in production.
 LME nickel remained its upward trend last Friday night and touched a high of $13,560/mt with resistance at the five-day moving average. Open interests increased 2,662 lots to 242,000 lots with LME inventory shrinking 792 mt to 253,278 mt. As short exited, Nickel made a high of 928.70 and it maintain its strong support of 900.

Oil prices rise after Saudi output dips,U.S. drilling stalls.

Oil prices rose on Monday after Saudi crude production registered a surprising dip in July and as American shale drilling appeared to plateau. U.S. energy companies last week cut oil rigs for a second time in the past three weeks as the rate of growth has slowed over the past couple of months. Drillers cut two oil rigs in the week to Aug. 3, bringing the total count down to 859, Baker Hughes energy services firm said on Friday. U.S. shale oil drillers posted disappointing quarterly results in recent weeks, hit by rising operating costs, hedging losses and a fall in crude prices away from 2018 highs reached between May and July. the United States, top crude exporter Saudi Arabia pumped around 10.29 million barrels per day (bpd) of crude in July, two OPEC sources said on Friday, down about 200,000 bpd from a month earlier. Saudi Arabia halted temporarily oil shipments through the lane on July 25 after attacks on two oil tankers by Yemen's Iran-aligned Houthi movement.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Thursday, 19 July 2018

Commodities-Market-1

Gold Remains Near One-Year Low.

Gold prices were steady near a one-year low on Wednesday as a higher dollar and comments from Federal Reserve Chair Jerome Powell continued to weigh. Powell reiterated the central bank should gradually increase interest rates at his hearing at Congress on Tuesday. Trade tensions and fiscal policy made the future uncertain, he added. The Fed raised rates twice this year and is expected to raise rates at least once more before the end of the year. Higher rates are a negative for gold as the precious metal, which does not pay interest, struggles to compete with yield-bearing assets when rates rise. Gold falls as the dollar rises, as the precious metal is denominated in the U.S. currency and is sensitive to moves in the dollar.

Zinc chalked up its largest daily gain in a year, recovering from this week’s one-year low on bargain hunting and falling inventories.

Zinc on MCX settled up 4.71% at 181.15 gained on short covering tracking weakness from LME Zinc prices which pulled away from one-year lows hit earlier in the week and the metal recorded its first daily jump in seven trading days in Shanghai, tracking a rise on the London Metal Exchange (LME) amid plunging inventories. Zinc prices is down 10.1 percent so far this month in Shanghai and 11.3 percent in London on concerns about oversupply, but it had been boosted by positive data from top metals consumer China on Tuesday. in a note, adding that zinc was “one of the metals most leveraged to the housing and construction sectors. Meanwhile expectations for a rise in zinc concentrate supplies in coming years have driven down the metal price in London to one-year lows, but smelting capacity constraints suggest the sell-off is premature.

Aluminium exports record second monthly high in Jun.

China’s export volumes of unwrought aluminium and aluminium products logged its second monthly high, of all time, in June as the growth in extrusion exports exceeded the decline in flat rolled product exports, SMM research found. The total figure for the first six months of this year grew 11.3% on the year and registered 2.72 million mt. SMM found that extrusion exports in June were substantially boosted by the depreciating Chinese yuan. Export orders for aluminium coil for remelting also boomed in June on high profits.

Oil prices extend gains, buoyed by unexpected drop in U.S. gasoline stocks.

Oil prices on Thursday extended gains from the previous session, buoyed after official data showed that U.S. inventories of gasoline, diesel and heating oil unexpectedly fell last week.A Reuters poll taken before the data release had forecast that gasoline stocks would be unchanged and distillate stockpiles would show a build of around 900,000 barrels. U.S. crude stocks rose by 5.8 million barrels last week, compared with a forecast of a decline of 3.6 million barrels. Oil production reached a record 11 million barrels per day, the EIA said. The United States has added nearly 1 million bpd in production since November, thanks to rapid increases in shale drilling.

Precious Metals

CS GOLD (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 30100
RESIST 1: 30000
SUP 1: 29650
SUP 2: 29550
CS SILVER (SEP) OVERVIEW:
TREND : BEARISH
RESIST 2: 38900
RESIST 1: 38700
SUP 1: 38000
SUP 2: 37800

Base Metals

CS COPPER (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 428.00
RESIST 1: 426.00
SUP 1: 417.00
SUP 2: 415.00
CS NICKEL (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 950.00
RESIST 1: 945.00
SUP 1: 915.00
SUP 2: 910.00
CS ZINC (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 187.00
RESIST 1: 185.00
SUP 1: 177.00
SUP 2: 175.00
CS LEAD (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 153.00
RESIST 1: 151.00
SUP 1: 146.00
SUP 2: 144.00
CS ALUMINIUM (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 143.00
RESIST 1: 141.00
SUP 1: 138.00
SUP 2: 136.00

Energies

CS CRUDE OIL (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 4770
RESIST 1: 4730
SUP 1: 4630
SUP 2: 4590
CS NATURAL GAS (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 192.00
RESIST 1: 190.00
SUP 1: 185.00
SUP 2: 183.00
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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Tuesday, 17 July 2018

Commodities-Market-1


Gold Prices Edge Lower After Fed Comments.

Gold Prices were slightly lower on Wednesday and hovered near a one-year low as the dollar strengthened following Federal Reserve Chairman Jerome Powell’s comments on Tuesday that reinforced views the central bank is on track to gradually raise interest rates. A U.S. central banker said on Tuesday that the Fed should ease away from money policy accommodation and raise interest rate to avoid inflation as data showed the U.S. economy has improved in recent months. “At a time of full employment with price stability, policy should be a neutral influence on economic activity,” Kansas City Federal Reserve Bank President Esther George said in remarks prepared for delivery to an agricultural symposium. “Gradual further increases in our policy rate will be necessary to return policy to a neutral stance, although there is considerable uncertainty about exactly how far or fast we need to go.”

Copper prices edged lower pushed down by a stronger dollar and fears that demand will be damaged by a global trade war and weaker economic growth in China.

Copper on MCX settled down -0.85% at 417.85 on fresh selling tracking weakness from LME copper prices which was depressed by a stronger US dollar to a low of around $6,150/mt. However, we expect copper prices to see limited downward room in the short term as the union at Escondida rejected BHP’s offer and a threat of strike remains. While Concerns over the US-China trade disputes and weak Chinese economic data weighed on market sentiment and copper prices.

Zinc recovered on short covering after prices remained under pressure amid worries over Washington-Beijing trade war curbing demand.

Zinc on MCX settled up 1.29% at 173 gained on short covering as support seen after LME zinc prices halted its downward trend while sentiments still remain weak with pressure from a rising US dollar. Zinc prices are likely to gain some support from shrinking social inventories across Shanghai, Guangdong and Tianjin. We expect the contract to strengthen today given LME zinc’s strong performance. Last night the US dollar index gained 0.48% to close at 94.96 on Federal Reserve Board chairman Jerome Powell’s remarks that back more rate increases as the economy is growing “considerably stronger”.

Oil prices drop amid surprise jump in U.S. stockpiles.

Oil prices dropped on Wednesday after an industry group reported that U.S. crude inventories rose last week, defying analyst expectations for a significant reduction.U.S. West Texas Intermediate crude was down 36 cents, or 0.5 percent, at $67.72. It settled up 2 cents at $68.08 a barrel the session before, coming off a nearly one-month low. The benchmarks had steadied after big declines on Monday and last week as supply disruptions in Venezuela came to the fore and as analysts had been forecasting a decline of 3.6 million barrels in U.S. inventories for the week through July 13. But the specter of oversupply quickly returned, with a rise of more than 600,000 barrels in U.S. crude stockpiles, reported by the American Petroleum Institute late on Tuesday.

Precious Metals

CS GOLD (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 29950
RESIST 1: 29850
SUP 1: 29500
SUP 2: 29400
CS SILVER (SEP) OVERVIEW:
TREND : BEARISH
RESIST 2: 38900
RESIST 1: 38700
SUP 1: 38150
SUP 2: 37950

Base Metals

CS COPPER (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 426.00
RESIST 1: 424.00
SUP 1: 414.00
SUP 2: 412.00
CS NICKEL (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 950.00
RESIST 1: 945.00
SUP 1: 910.00
SUP 2: 905.00
CS ZINC (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 178.00
RESIST 1: 176.00
SUP 1: 170.00
SUP 2: 168.00
CS LEAD (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 153.00
RESIST 1: 151.00
SUP 1: 146.00
SUP 2: 144.00
CS ALUMINIUM (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 143.00
RESIST 1: 141.00
SUP 1: 138.00
SUP 2: 136.00

Energies

CS CRUDE OIL (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 4720
RESIST 1: 4680
SUP 1: 4580
SUP 2: 4540
CS NATURAL GAS (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 192.00
RESIST 1: 190.00
SUP 1: 183.00
SUP 2: 181.00
WWW.CAPITALSTARS.COM +917440449744
CapitalStars Provides  Free Trial To Our Client…
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

Monday, 16 July 2018

Commodities-Market-1


Gold Falls as Lower Dollar, Data Weigh.

Gold prices inched down on Monday, despite a lower U.S. dollar as data supported expectations of a Fed interest rate increase. Gold was weighed down by economic data pointing to an increase in Federal Reserve interest rates. Retail sales increased by 0.5% for the fifth month in a row, according to the U.S. Commerce Department. The Fed raised rates twice this year and is expected to raise rates at least once more before the end of the year. Higher rates are a negative for gold as the precious metal, which does not pay interest, struggles to compete with yield-bearing assets when rates rise. Investors were also paying attention to any news of the meeting between U.S. President Donald Trump Russian President Vladimir Putin at their one-on-one meeting in Helsinki on Monday. Meanwhile the dollar was lower.

East China spot aluminium trading thin amid a seasonal lull.

Spot aluminium trading in east China was thin on Monday July 16 despite the tumble in prices, SMM learned. This was because downstream consumers purchased only on demand during a seasonal lull. The SHFE 1807 contract initially fell on the morning of its last trading day. Transactions in Shanghai were mostly heard at 13,850-13,870 yuan/mt with discounts of 10-0 yuan/mt against the 1807 contract. Sellers in east China were willing to offload their cargoes as inventory of primary aluminium across the region increased over the weekend. Traders mostly kept on the sidelines. Prices in Guangdong slumped this morning with most transactions done at 13,940 yuan/mt. Overall trading in the south China province was decent as some traders believed the market may have hit the bottom.

Anhui secondary refined lead output misses expectation.

Secondary refined lead supply in Anhui province fell short of earlier expectations due to the unexpected maintenance work at one large-scale smelter, SMM learned. A large smelter in the Jieshou area suspended production from Thursday July 12 to undertake maintenance for about half a month. Output at another large smelter in Jieshou was also limited by maintenance of its production line. Recovered production at some secondary refined lead smelters in Taihe was also unstable given the supply shortage of secondary lead materials.

Oil Prices Edge Up After Slumping More Than 4% Following Mnuchin’s Comments.

Oil prices rebounded on Tuesday after plunging more than 4% in the previous session as U.S. Treasury Secretary Steven Mnuchin said the U.S. is considering waivers on Iran sanctions for some crude importers.Mnuchin told reporters that the U.S. wants to avoid disrupting global oil markets and is considering waivers for countries that need more time to wind down imports of oil from Iran while reimposing sanctions against Tehran. President Donald Trump withdrew the U.S. from the 2015 Iran nuclear deal and restored sanctions on Tehran in May. “We want people to reduce oil purchases to zero, but in certain cases if people can’t do that overnight, we’ll consider exceptions,” Mnuchin said. His comments contradicted some U.S. officials’ comments earlier that said there would be no exemptions.

Precious Metals

CS GOLD (AUG) OVERVIEW:
TREND : BEARISH
RESIST 2: 30300
RESIST 1: 30200
SUP 1: 29900
SUP 2: 29800
CS SILVER (SEP) OVERVIEW:
TREND : BEARISH
RESIST 2: 39500
RESIST 1: 39300
SUP 1: 38600
SUP 2: 38400

Base Metals

CS COPPER (AUG) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 430.00
RESIST 1: 428.00
SUP 1: 420.00
SUP 2: 418.00
CS NICKEL (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 955.00
RESIST 1: 950.00
SUP 1: 925.00
SUP 2: 920.00
CS ZINC (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 178.00
RESIST 1: 176.00
SUP 1: 169.00
SUP 2: 167.00
CS LEAD (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 153.00
RESIST 1: 151.00
SUP 1: 146.00
SUP 2: 144.00
CS ALUMINIUM (JULY) OVERVIEW:
TREND : SIDEWAYS
RESIST 2: 146.00
RESIST 1: 144.00
SUP 1: 140.00
SUP 2: 138.00

Energies

CS CRUDE OIL (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 4770
RESIST 1: 4730
SUP 1: 4580
SUP 2: 4540
CS NATURAL GAS (JULY) OVERVIEW:
TREND : BEARISH
RESIST 2: 195.00
RESIST 1: 193.00
SUP 1: 188.00
SUP 2: 186.00
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