Commodities Out Look 11 Sep’2012

GOLD:

Gold trading range for the day is 31747-32131.

Gold settled flat on profit booking after disappointing U.S. payrolls data boosted hopes that FED could unveil new stimulus

Gold imports by China from Hong Kong rose to 75,842 kilograms (about 76 metric tons) in July

Holdings of gold-backed exchange-traded funds rose to an all-time high of 72.492 million ounces.

SILVER:

Silver trading range for the day is 63277-64987.

Silver prices ended with gains tracking gains in base metals and crude prices

Downbeat US nonfarm payrolls in August also pushed hopes for QE3 by Fed in its interest rate meeting this Wednesday

Holdings at ishares silver trust gained by 69.32 tonnes to 9803.55 tonnes.

CRUDE:

Crude trading range for the day is 5259-5387.

Crude gains as supportive expectations that the U.S. Federal Reserve will act to stimulate the economy supported prices

Saudi Arabia Oil Minister Ali al-Naimi said that the recent rise in oil prices is not due to any lack of supply

U.S. crude oil stockpiles likely fell last week, with U.S. Gulf Coast oil production and imports still reeling after Hurricane Isaac

Crude is holding with a support at 5259 and resistance will be likely at 5387.

COPPER:

Copper trading range for the day is 444.6-459.

Copper rose driven by the increased likelihood of more economic stimulus in China and the United States

China’s August copper imports fell 2.9% from the previous month

The Chinese data “highlight the continued weakness in demand in the largest global consumer of commodities”.

Warehouse stock for Copper at LME was at 214650mt that is down by -1300mt.

ZINC:

Zinc trading range for the day is 106.78-112.88.

Zinc gains following their global counterparts as hopes of monetary stimulus from China and US firmed sentiments.

China’s industrial production rose 8.9% in August from a year earlier, lower than July’s 9.2%,

Downbeat US nonfarm payrolls in August also pushed hopes for QE3 by Fed in its interest rate meeting this Wednesday

Warehouse stock for Zinc at LME was at 938275mt that is down by -3925mt.

NICKLE:

Nickel prices ended with gains as risk appetite grew amid stimulus from the US and the EU

The growing expectation over QE3 after disappointing nonfarm data and ECB’s bond-buying plan boosted confidence

German Constitutional Court’s decision on whether or not grant ESM is a risk window this week.

Warehouse stock for Nickel at LME was at 120816mt that is down by  -264mt.

NATURAL GAS:

Natural Gas trading range for the day is 145.83-155.83.

Natural gas ended higher despite of forecasts for cooler temperatures

Also supportive was the aftermath of Hurricane Isaac, which shut much of the natural gas production in the Gulf of Mexico.

Any significant gains were likely to be capped amid ongoing concerns over bloated U.S. inventory levels.

ALUMINIUM:

Aluminium trading range for the day is 110.17-115.17.

Aluminium ended higher as raising expectations for policy easing by the People’s Bank of China supported prices

China’s imports unexpectedly dropped 2.6% YoY in August while exports grew only 2.7% YoY, both missing forecasts

Downbeat US nonfarm payrolls in August also pushed hopes for QE3 by Fed in its interest rate meeting this Wednesday

Warehouse stock for Aluminium at LME was at 4869925mt that is down by -1500mt..

MENTHA OIL:

Mentha oil trading range for the day is 1356.1-1383.5.

Menthaoil spot is at 1522/-.Spot market is down by Rs.16/-.

Menthaoil dropped on profit booking tracking weakness in spot market demand.

Delhi government slaps ban on all gutka products

The total arrivals of mentha oil stood steady at 600-650 drums.

TODAY’S COMMODITY ADVICE:

  • BUY SILVER MCX DEC ABOVE 64140 SL 63940 TGT 64320-64560-64720.
  • BUY GOLD MCX OCT ABOVE 31950 SL 31870 TGT 31990-32035-32095.
  • BUY NATURAL GAS SEPT ABOVE 153.50 SL 150.50 TGT 155.20-157.50-159.

Commodity Outlook for 05 Sep’2012

GOLD:

Gold trading range for the day is 31225-31599.

Gold settled higher on weaker US data fuelling expectations the Fed will implement fresh stimulus measures.

Gold seen support as ECB will announce details of measures to help stabilize the region’s sovereign debt markets.

ECB says gold, gold receivables fell EU1 mln in week. Forex reserves fell EU2.1 bln to EU241.9 bln.

SILVER:

Silver trading range for the day is 60952-62744.

Silver gained after data showed that manufacturing activity in U.S. contracted for third consecutive month in August

The Fed meets next week to discuss monetary policy, leaving the ECB’s meeting on Thursday in focus.

Holdings at is shares silver trust dropped by 28.63 tonnes to 9642.97 tonnes

CRUDE:

Crude trading range for the day is 5235-5453.

Crude ends lower as weak data adds to economic worries

Oil futures were higher earlier in the session as market sentiment improved after ECB President Mario barrel.

Prices getting support on growing concerns over tightening supplies from the North Sea region & Tropical Storm Leslie.

COPPER:

Copper trading range for the day is 427.1-432.7.

Copper dropped as U.S. data added further concern about the state of the global economy

ECB is expected to unveil details of a long-awaited debt-buying scheme to tackle the region’s debt crisis

Market sentiment remained upbeat amid growing speculation Fed was moving closer to stimulate growth in US economy

Warehouse stock for Copper at LME was at 218800mt that is down by  -6475mt.

ZINC:

Zinc trading range for the day is 102.4-105.4.

Zinc gained despite of lower than expected PMI from the US ISM exerted pressure on base metal market

China’s demand for refined zinc weakened in August from July diluting hopes for a fourth-quarter rise in consumption.

Moody’s adjustment and warning added pressure on the EBC’s debt purchase plan.

Warehouse stock for Zinc at LME was at 949550mt that is down by  -1525mt.

NICKLE:

Nickel trading range for the day is 886.7-915.

Nickel dropped as as lower-than-expected PMI from the US Institution of Supply and Management weighed on market.

Market is waiting for decisions and detailed rules of debt purchase plan from Draghi at the european central bank meeting

Commodities had limited downside room, though, as downbeat data was twined with expectations for easing policies.

Warehouse stock for Nickel at LME was at 119724mt that is down by  -60mt.

 NATURAL GAS:

Nat.Gas trading range for the day is 152.17-165.77.

Natural gas rallied +3.24% nearly four weeks high as renewed tropical storm activity in the Gulf of Mexico.

US National hurricane Center said Tropical Storm Leslie could strengthen into a hurricane.

Despite of gains, prices were expected to remain under pressure amid ongoing concerns over inventory levels.

ALUMINIUM:

Aluminium trading range for the day is 105.18-109.38.

Aluminium gained as downbeat data was twined with expectations for easing policies.

Investors expected the ECB would introduce the long-awaited bond buying program at its meet on Thursday

Moody’s adjustment and warning added pressure on the EBC’s debt purchase plan.

Warehouse stock for Aluminium at LME was at 4878475mt that is down by -6475mt.

Upcoming IPO – Comfort Commotrade Limited (CCL)

Incorporated in 2007, Comfort Commotrade Limited (CCL) is currently engaged in the business of commodity broking. They offers trading in many commodities such as bullion (gold, silver), energy (crude oil, natural gas), metals, food grains (rice, maize), spices, oil and oil seeds and others. They are the member of MCX and NCDEX.

Comfort Group is headquartered in Mumbai. The group is also engaged in the business of providing loans through its group company Comfort Intech Limited. The Company has a diversified client base that includes HNIs, retail customers, mutual fund houses, financial institutions, corporate clients and others.

Company Promoters:

The promoters of the company are:

  1. Mr. Anil Agrawal
  2.  Mrs. Annu Agrawal

Objects of the Issue:

The objects of this Issue are to raise funds to:

1. Expand their business operations;

2. Enhancement of margin money maintained with the exchanges;

3. General corporate purpose;

4. Issue expenses.

Issue Details:

  • Issue Open: Sep 05, 2012 – Sep 10, 2012
  • Issue Type: Fixed Price Issue IPO
  • Issue Size: 6,000,000 Equity Shares of Rs. 10
  • Issue Size: Rs. 6.00 Crore
  • Face Value: Rs. 10 per Equity Share
  • Issue Price: Rs. 10 per Equity Share
  • Market Lot: 10000 Shares
  • Minimum Order Quantity: 10000 Shares
  • Listing At: BSE/NSE