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Today Commodity Report

International Commodity Evening Update

Tuesday, 11 April 2017

Content

Market Highlights

Day’s overview

Outlook

Important Events for Today

News and Analysis

  • North Korea warns US of nuclear strike.
  • Syria’s allies criticize US strike on former’s military base.
  • LME Copper stocks plunged by 2.6 percent on Monday.

European stocks are trading mixed as uncertainty over the ongoing US-North Korea tensions and upcoming French elections hurt risk appetite. Asian markets ended mixed and the US stock futures are trading in the red.

Gold prices are trading higher today by 0.24 percent at $1256 per ounce while MCX gold prices are trading higher by 0.16 percent at Rs.28785 per 10 gms. Gold rose on Tuesday as investors sought assets seen as havens from risk as political and security tensions rose over North Korea, the Middle East and the looming French election.

LME Copper prices are trading higher by 0.2 percent at $5765.5 per tonne, as investors are cautious regarding the ongoing tensions between US and North Korea. The latest jolt is the warning of a nuclear attack by North Korean state media in case of any military action by the US. On Monday, risk appetite plunged after Syrian allies including Russia,

Iran and some militias criticized the US’ attack on Syrian military airbase and warned it would respond to any new aggression with force. MCX copper prices are trading lower by 0.1 percent at Rs.372.3 per kg.

Crude oil prices are trading lower by 0.11 percent at $53 per barrel while MCX oil prices are trading lower by 0.2 percent at Rs.3417 per barrel. Crude oil eased from a five-week high on Tuesday as rising U.S. shale oil production offset concerns over geopolitical tensions in the Middle East and output cuts being made to support prices.

International Commodity Evening Update

Tuesday, 11 April 2017

Performance during the day       as at 4.00 pm – 11th April 2017

INDEX   OPEN    HIGH     LOW      CLOSE   %CHG

NIFTY    9184.55 9242.70 9172.85 9237.00 0.61

SENSEX 29630.06              29804.51              29570.58              29788.35              0.72

KOSPI    2129.23 2136.55 2117.82 2123.85 -0.44

FTSE       7348.94 7399.20 7332.59 7332.59 0.63

Source: Reuters

as at 4.00 pm –11th April 2017

INDEX   OPEN    HIGH     LOW      CLOSE   %CHG

DOLLAR                100.90   101.01   100.745 100.75   -0.20

INDEX

EURO/$                1.0594   1.062     1.0577   1.0614   0.20

SPOT

INR/$ SPOT         64.57     64.69     64.405   64.5025 -0.12

Source: Reuters

as at 4.00 pm – 11th April 2017

                                COMMODITY   UNIT   OPEN   HIGH    LOW   CLOSE   %CHG

                                SPOT GOLD                         $/oz                       1254.9                   1259                       1253                       1257.5                   0.3

                                COMEX GOLD                    $/oz                       1254.5                   1256                       1255                       1255.4                   0.3

                                MCX GOLD –                      Rs/10 gms                           28840.0                 28852                    28765                    28784.0                 0.2

                                SPOT SILVER                       $/oz                       17.9                        18                           18                           18.0                        0.2

                                COMEX SILVER                  $/oz                       18.0                        18                           18                           17.9                        0.2

                                MCX SILVER –                    Rs/kg                     41460.0                 41520                    41321                    41386.0                 0.0

                                CRUDE OIL                          $/bbl                     53.1                        53                           53                           53.0                        -0.1

                                NYMEX –

                                ICE BRENT                                                           56.1                        56                           56                           55.9                        -0.1

                                CRUDE

                                MCX CRUDE OIL                                Rs/bbl                   3436.0                   3436                       3407                       3422.0                   -0.1

                                COPPER LME – 3                                $/tonne                               5746.5                   5776                       5735                       5765.5                   0.2

                                MONTH

                                MCX COPPER –                 Rs/kg                     373.6                     374                         371                         372.3                     -0.1

                                ZINC LME – 3                       $/tonne                               2621.5                   2631                       2574                       2594.0                   -1.2

                                MONTH

                                ZINC MCX                            Rs/kg                     168.3                     168                         165                         166.5                     -1.1

                                LEAD LME – 3                      $/tonne                               2251.5                   2266                       2230                       2262.5                   0.5

                                MONTH

                                LEAD MCX –                       Rs/kg                     145.9                     146                         144                         146.1                     0.3

                                NICKEL LME – 3                  $/tonne                               10070.0                 10180                    10070                    10115.0                 0.1

                                MONTH

                                NICKEL MCX –                   Rs/kg                     654.7                     658                         652                         653.0                     0.2

                                ALUMINUM                       $/tonne                               1925.0                   1931                       1914                       1919.5                   -0.1

                                LME – 3 MONTH

                                MCX                      Rs/kg                     124.3                     124                         123                         123.5                     -0.2

                                ALUMINIUM

International Commodity Evening Update

Tuesday, 11 April 2017

Outlook

Gold prices will trade higher as uncertain global economic developments and heightened geo-political risks will ensure the rising safe haven appeal for the yellow metal.

Oil prices continues to be supported by disruptions in oil supplies in Libya and the geo-political risk between US and Syria while inventories in the US remain high, oil has to be traded with high amount of caution. The trend remains positive though. We might see some profit booking today after a recent rally.

Copper prices are expected to trade sideways today as risk appetite is likely to be under pressure today following news of a probable US navy strike on North Korea owing to the latter’s advancing weapons programme.

Technical Outlook for evening session – April 11, 2017 (CMP as of 4.00 pm)

                                                                                                                                                                S2                           S1                                                           LTP                                         R1                                           R2

                                GOLD MCX JUNE’17                                        Rs/10 gm                             28480                                    28600                                                                    28710                    28830                    28940

                                SPOT GOLD                                         $/oz                       1242.5                                   1248.5                                                                   1254                       1260                       1265.5

                                GOLD HEDGE MAY’17                                                                     25980                                    26090                                                                    26259                    26365                    26500

                                SILVER MCX MAY’17                                       Rs /kg                    40800                                    41100                                                                    41300                    41550                    41900

                                SPOT SILVER                                       $/oz                       17.53                                     17.72                                                                     17.88                     18.06                     18.22

                                LME COPPER                                      $/tonne                               5708                                       5738                                                                       5781                       5813                       5853

                                COPPER APRIL’17                                             Rs /kg                    368                                         370                                                                         373.9                     376                         379

                                ZINC APRIL’17                                    Rs /kg                    170.10                                   170.90                                                                   171.90                   172.50                   173.40

                                LEAD APRIL’17                                   Rs /kg                    144.10                                   144.90                                                                   145.80                   146.40                   147.20

                                ALUMINUM APRIL’17                                    Rs /kg                    123.10                                   123.90                                                                   124.70                   125.30                   126.00

                                NICKEL APRIL’17                                               Rs /kg                    638                                         645                                                                         655.50                   664                         672

                                CRUDE OIL APRIL’17                                        Rs /bbl                  3320                                       3360                                                                       3395                       3440                       3480

                                NYMEX CRUDE OIL                                          $/bbl                     51.41                                     52.06                                                                     52.56                     53.11                     53.61

                                MCX NATURAL GAS APRIL’17                                     Rs/mmbtu                          203                                         207                                                                         209.50                   213                         215

Economic indicators to be released on 11th April, 2017

                                                                INDICATOR                                         COUNTRY                            TIME (IST)                           ACTUAL                                                                                FORECAST                           PREVIOUS                           IMPACT

                                                                Fed Chair Yellen Speaks                                                                US                          1:40am                 –                                                                –                                              –                                              High

                                                                CPI y/y                                                  UK                          2:00pm                 2.3%                                      2.2%                                      2.3%                      High

                                                                German ZEW Economic Sentiment                                                           Euro                       2:30pm                 19.5                                        13.2                                        12.8                        Medium

                                                                FOMC Member Kashkari Speaks                                                               US                          11:15pm                                –                                              –                                              –                                              Medium