India's May Palm Oil Imports Hit Multi Year Low on Higher Import Tax | Today Commodity Market News Outlook 15 June 2018.


Commodity Opening Bell
Bullion - Opens on positive Note Gold -31400-31425 Silver - 41400-41450

Energy - Opens on positive Note Crude Oil - 4550-4575 Natural Gas - 202-203

Base Metals - Opens on positive Note Copper -481-50-482 Nickel - 1035-1038 Lead -166.80-167 Zinc - 216.80-217 Aluminium -154.10-154.30




India's palm oil imports in May plunged 38 percent from a year earlier to their lowest in nearly 4-1/2 years as higher import tax on the tropical oil made it more expensive, a trade body said on Thursday.

Palm oil imports might remain under pressure this month as well, helping rival soft oils such as soyoil and sunflower oils gain market share, industry officials said.

Lower imports by India, the world's biggest vegetable oil importer, could weigh on Malaysian palm oil futures that were trading near their lowest in 22 months.

India imported 496,478 tonnes of palm oil in May, the lowest since February 2014, the Solvent Extractors' Association of India (SEA) said in a statement.

0 comments:

Crude Slips Gold Trading Flat | Today Commodity Market News Outlook Report 13 June 2018.


Bullion - Opens on negative Note Gold -31140-31150 Silver - 40600-40620 

Energy - Opens on negative Note Crude Oil - 4465-4470 Natural Gas - 197.90-198 

Base Metals - Opens on negative Note Copper -482.30-482.50 Nickel - 1027-1028 Lead -166.80-167 Zinc - 216.80-217 Aluminium -155.70-156





The non-agri segment is currently dominated by Multi Commodity Exchange of India (MCX), which has agreements with both Chicago Mercantile Exchange and London Metal Exchange for settlement prices of energy and base metals.

For gold contracts, MCX gets settlement prices from the Ahmadabad gold spot market.

“BSE and NSE are also in talks with CME and LME for settlement prices; but MCX has some exclusive contracts with LME. If they (BSE, NSE) do not get settlement prices, then it would be difficult for them to compete with an existing exchange,” a source told Moneycontrol.

New commodity exchanges need to have arrangements with exchanges abroad to get settlement prices for crude oil, base metals and natural gas contracts that they offer.


0 comments:

Gold Around 1300 Dollar Crude Marginally High | Today Commodity Market News Outlook 12 JUNE 2018.


Bullion - Opens on mixed Note Gold -31170-31175 Silver - 40700-40740 

Energy - Opens on mixedNote Crude Oil - 4470-4475 Natural Gas - 200.10-200.30 

Base Metals - Opens on mixed Note Copper -484.50-484.60 Nickel - 1030-1031 Lead -167.50-167.30 Zinc - 217.30-217.45 Aluminium -157.20-157.40




In a relief to road commuters, petrol and diesel prices have seen continuous cuts in 13 days. The decreasing price trend, which started on May 30, continued on Monday with the dip in prices of petrol by Rs 1.85 and diesel by Rs 1.36 so far in Delhi.

Fuel prices vary from state to state depending on local sales tax or VAT. The price dip in petrol was 20 paise on the day as compared to the previous day in the national capital, as per the updated price notification issued by Indian Oil Corporation. The drop in petrol price was same in Mumbai, while it was one paisa higher in Chennai and one paisa lower in Kolkata.

0 comments:

Oil Mixed as Rising US | Today Commodity Market News Outlook Report 11th JUNE 2018.



Bullion - Opens on mixed Note Gold -31140-31150 Silver - 40630-40700 

Energy - Opens on mixedNote Crude Oil - 4420-4425 Natural Gas - 197.30-197.50 

Base Metals - Opens on mixed Note Copper -489.10-489.50 Nickel - 1036-1038 Lead -167.10-167.30 Zinc - 216.50-216.70 Aluminium -156.60-156.80



Oil prices were mixed on Monday, caught between the downward pull of rising Russian production and U.S. oil drilling activity at its highest since 2015, and upward pressure from strong demand, especially in Asia.

However, analysts expect surging U.S. output to start offsetting efforts led by the Organization of the Petroleum Exporting Countries (OPEC) to withhold production, which have been in place since 2017 and in the first half of this year have pushed up prices significantly.

Brent crude futures, the international benchmark for oil prices, were at $76.50 per barrel at 0215 GMT, up 4 cents from their last close.

But U.S. West Texas Intermediate (WTI) crude futures were down 8 cents at $65.66 a barrel.

1 comments:

Oil Prices Rise on Ongoing Venezuelan Supply Trouble | Today Commodity Market News Outlook 08 JUNE 2018.



Bullion - Opens on negative Note Gold -31140-31150 Silver - 40330-40340 

Energy - Opens on negative Note Crude Oil - 4460-4462 Natural Gas - 197.30-197.50 

Base Metals - Opens on negative Note Copper -486.50-486.80 Nickel - 1042-1042.50 Lead -167.70-168 Zinc - 214.60-214.30 Aluminium -155.40-155.50



Oil prices rose on Friday, driven up as Venezuela struggles to meet its supply obligations and by ongoing voluntary output cuts led by producer cartel OPEC.

Brent crude futures , the international benchmark for oil prices, were at $77.45 per barrel at 0051 GMT, up 13 cents, or 0.2 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 19 cents, or 0.3 percent, at $66.14 a barrel.


Prices were pushed up by supply trouble in Venezuela, where state-owned oil firm PDVSA is struggling to clear a backlog of around 24 million barrels of crude waiting to be shipped to customers.

1 comments:

Gold Inches up on Weaker Dollar | Today Commodity Market News Outlook 07 June 2018.


Bullion - Opens on positive Note Gold -30970-30980 Silver - 40070-40100 

Energy - Opens on positive Note Crude Oil - 4360-4365 Natural Gas - 194-195 

Base Metals - Opens on positive Note Copper -483-486 Nickel - 1052-1053 Lead -169.10-169.30 Zinc - 214.60-215 Aluminium -157.20-157.50




Gold prices edged higher on Thursday, supported by a weaker dollar amid ongoing concerns about a trade war between the United States and its allies.

The dollar index , which measures the greenback against a basket of six major currencies, fell 0.2 percent to 93.497.

U.S. President Donald Trump is not backing down from the tough line he has taken on trade, the White House's top economic adviser said on Wednesday, setting the stage for a showdown with top allies at this week's G7 summit in Canada.

The European Union expects to hit U.S. imports with additional duties from July, ratcheting up a transatlantic trade conflict after Washington imposed its own tariffs on incoming EU steel and aluminium.

The euro stayed near two-week highs against many of its rivals on Thursday, on rising bets the European Central Bank (ECB) may announce it will wind down its stimulus programme by year-end as early as next week.

0 comments:

US Oil Prices Inch Up On Fall in Local Crude Stockpiles | Today Commodity Market Outlook Report 06 June 2018.


Bullion - Opens on negative Note Gold -30970-30980 Silver - 39740-39780 

Energy - Opens on positive Note Crude Oil - 4405-4410 Natural Gas - 194-195 

Base Metals - Opens on negative Note Copper -474-474.20 Nickel - 1052-1053 Lead -168.50-168.30 Zinc - 214.60-215 Aluminium -156.70-156.90




U.S. oil prices edged up in early Asian trade on Wednesday to move away from lows hit in the previous session, buoyed after industry data showed a decline in U.S. crude inventories.

U.S. crude marked its lowest level in nearly two months on Tuesday after three OPEC and industry sources said the U.S. government has unofficially asked Saudi Arabia and some other OPEC producers to raise oil output, although it has not requested a specific figure.

But U.S. oil had rebounded by Tuesday's close amid expectations U.S. crude oil stockpiles likely fell for a second week last week.



1 comments:

Subscribe to: Comments (Atom)