Gold prices held steady on Thursday, supported by concerns that U.S. legislation on Hong Kong could increase tensions between the United States and China and delay an interim trade deal.
Showing posts with label India rice prices. Show all posts
Showing posts with label India rice prices. Show all posts
Thursday, 21 November 2019
Tuesday, 19 November 2019
Crude oil trading range for the day is 4008-4196
* Crude oil trading range for the day is 4008-4196.
* Crude oil dropped due to excess supply in the market and on uncertainty over a potential trade deal between the U.S. and China.
* U.S. shale production is likely to climb by 49,000 barrels a day in December to 9.133 million barrels a day.
* Saudi Arabia's crude oil exports in September fell by 3% to 6.67 million barrels per day (bpd) from 6.88 million bpd in August, official data showed.
* Crude stocks fell by 20.27 million bpd to 152.48 million bpd while domestic refinery crude throughput rose by 10,000 bpd to 2.584 million bpd.
MCX Live Rates
Saturday, 16 November 2019
Petrol prices rise for third consecutive day 16/11/2019
Petrol prices increased for the third consecutive day on Saturday, while diesel prices remained unchanged.
The price of petrol rose by 14 paise per litre in Delhi, Kolkata and Mumbai, while by 15 paise/litre in Chennai. The fuel has become costlier by 47 paise in Delhi, Kolkata and Mumbai, and 50 paise in Chennai, in three days.
According to the Indian Oil website, petrol price in Delhi, Kolkata, Mumbai and Chennai has increased to Rs 73.77, Rs 76.47, Rs 79.44, and Rs 76.68 per litre, respectively. However, the price of diesel in the four metropolitan cities has remained stable at Rs 65.79, Rs 68.20, Rs 69.01 and Rs 69.54 per litre, respectively.
MCX Live Rates
Thursday, 14 November 2019
Gold gains as weak China data weighs on risk appetite
Gold prices inched up on Thursday as Asian equities turned lower after weaker-than-expected economic data out of China weighed on risk appetite, boosting demand for safe-haven assets.
Spot gold was up 0.2% at $1,465.22 per ounce at 0544 GMT, while U.S. gold futures also rose 0.2% at $1,465.90 per ounce.
Asian stocks fell after China's industrial output grew significantly slower than expected in October, as weakness in global and domestic demand and the drawn-out Sino-U.S. trade war weighed on activity in the world's second-largest economy.
"Gold is being supported as the Chinese industrial production and retail sales came way below expectations," OANDA analyst Jeffrey Halley said.
"Another deterioration in Hong Kong this week will further support gold, but it's really all about this ongoing trade talks, which is becoming like a broken record."
Dialling up the trade rhetoric, U.S. President Donald Trump on Wednesday threatened to ramp up tariffs on Chinese goods if the countries failed to reach a deal on trade.
That came after media said the U.S.-China trade negotiations had 'hit a snag' over farm purchases, with China not wanting a deal that looked one-sided in favour of the United States.
MCX Live Rates
Tuesday, 12 November 2019
Crude oil futures end lower amid uncertainty about US-China trade negotiations
Crude oil futures ended lower on Monday on concerns about the outlook for energy demand due to slowing global economy and uncertainty about US-China trade negotiations.
President Donald Trump said negotiations between China and the US toward a partial trade deal, referred to as phase one, were going very nicely but he said that recent reports about an agreement to eliminate tariffs in stages were not accurate and emphasized that he believes Beijing needs a deal more than Washington.
The comments made over the weekend as he prepared to head to a trip to Alabama, raised some doubts that a trade resolution was imminent.
Benchmark crude oil futures for December dropped 38 cents or 0.7 percent to settle at $56.86 a barrel on the New York Mercantile Exchange. January Brent fell 33 cents or 0.5 percent to settle at $62.18 a barrel on London's Intercontinental Exchange.
MCX Live Rates
Friday, 8 November 2019
Oil drops on doubts U.S.-China trade deal will be signed soon, rising U.S. stockpiles
U.S. crude oil futures fell on Friday amid fading hopes that a deal to end the lingering trade war between Washington and Beijing would be signed any time soon, the gloom compounded by rising crude inventories in the United States.
U.S. West Texas Intermediate (WTI) crude was down 15 cents, or 0.2%, at $57 a barrel by 0032 GMT. The contract rose 1.4% on Thursday.
Brent crude the global benchmark, was yet to trade after gaining 0.9% in the previous session.
The trade war between the world's two biggest economies has slowed economic growth around the world and prompted analysts to lower forecasts for oil demand, raising concerns that a supply glut could develop in 2020.
On Thursday, the Chinese commerce ministry said the two countries have agreed in the past two weeks to cancel trade tariffs in different phases, without giving a timeline.
But that comment was shrouded in doubt soon after when Reuters reported that the plan faces stiff internal opposition in the U.S. administration.
Still, Brent is up almost 16% in 2019, supported by a deal between the Organization of the Petroleum Exporting Countries and allies such as Russia to limit supplies until March next year. The producers meet on Dec. 5-6 in Vienna to review the policy.
Meanwhile there is "lingering concern about a rise in inventories in the U.S. last week," ANZ said in a note.
U.S. crude oil stockpiles rose sharply last week as refineries cut output and exports dropped, while refined products extended a multi-week drawdown, the Energy Information Administration said on Wednesday. [EAI/S]
Stocks at the Cushing, Oklahoma, delivery hub for WTI rose by 1.7 million barrels, the EIA said.
MCX Live Rates
Wednesday, 6 November 2019
Copper futures end higher on hopes for trade deal
Copper futures ended higher on Tuesday on hopes for a breakthrough on trade in talks between the United States and China, the world’s two largest economies, prompted bearish investors to buy back their positions.
Copper prices were also supported after major copper producer Antofagasta trimmed its output forecast for Chile due to ongoing national unrest in the country.
Copper futures for December delivery added 1.1 percent to settle at $2.7005 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange ended up 1.1 percent at $5,940 a ton.
MCX Live Rates
Monday, 4 November 2019
Buy Guar Seed10 Dec ABV 4140 SL BELOW 3900 TGT 4380-4460
* Guar seed gained by around 3.85% in Quarter 4, due to low level buying and good export demand.
* The slower crop development caused by the drier weather condition also triggered buying.
* Rajasthan government has released its first advanced estimates showed total guar production for the year 2019-20 is 17.16 Lakh tonnes.
* The Gujarat first advance estimation showed 10.56 Lakh tonnes of guar production in the year 2019-20.
* Around 10389 MT of guar seed and 9027 MT of guar gum were recorded on NCDEX accredited warehouses.
* The export of guar gum has increased in the month of September-19 by 13.70 per cent compared to the previous month.
* India exported around 21532 tonnes of guar gum at an average FoB of $ 1722.53 per tonne in the month of September-19 compared to 18937 tonnes in August-19 at an average FoB of $ 1729.66 per tonne.
* In 2018-19 marketing year (Oct-Sep), total arrivals reported are down by 17.8% to 49.4 Lakh tonne from 60 lakh tonne reported same period last year.
MCX Live Rates
Friday, 1 November 2019
Cotton trading range for the day is 19110-19650
Cotton on MCX settled down by -0.62% at 19320 on profit booking after prices gained tracking firmness in overseas prices amid fears of crop losses due to inclement weather in production areas have helped prices, while investors are awaiting details on the trade agreement between the US-China.
According to the US Department of Agriculture, farmers have harvested 46% of the cotton crop, which is higher than the average 43% of the current time of year.
Trading Ideas:
* Cotton trading range for the day is 19110-19650.
* Cotton dropped on profit booking after prices gained tracking firmness in overseas prices amid fears of crop losses due to inclement weather in production areas.
* According to USDA farmers have harvested 46% of the cotton crop, which is higher than the average 43% of the current time of year.
* Cotton Association of India (CAI) data showed that India’s cotton exports were 36 per cent lower, at 44 lakh bales.
* Cotton prices in spot market gained by 20.00 rupees and settled at 18920.00 rupees.
MCX Live Rates
Wednesday, 30 October 2019
Aluminium futures surge 0.19% on spot market
Aluminium futures were trading higher during the noon trade in the domestic market on Wednesday as speculators raised bets, taking positive cues from the spot market on improved demand. Market analysts said raising of positions by traders on uptick in demand in the physical market mainly led to the rise in aluminium prices at futures trade.
At the MCX, aluminium futures for November 2019 contract is trading at Rs 132.35 per kg, up by 0.19 per cent, after opening at Rs 132.05, against a previous close of Rs 132.10. It touched the intra-day high of Rs 132.40.
MCX Live Rates
Friday, 25 October 2019
Natural gas trading range for the day is 158.9-169.1
Natural gas on MCX settled up 1.6% at 164.8 as the market focused more on forecasts for cold weather to continue into November instead of a big storage build and a less cold outlook for next week.
Trading Ideas:
* Natural gas trading range for the day is 158.9-169.1.
* Natural gas settled up as the market focused more on forecasts for cold weather to continue into November instead of a big storage build and a less cold outlook for next week.
* The U.S. EIA said utilities added a bigger-than-usual 87 billion cubic feet (bcf) of gas to storage during the week ended Oct. 18.
* The increase during the prior week ended Oct. 11 boosted total inventories over the five-year average for this time of year for the first time since September 2017.
MCX Live Rates
Wednesday, 23 October 2019
Crude oil futures end higher as OPEC likely to consider deeper production cuts
Crude oil futures ended higher on Tuesday on a report that major oil producers are likely to consider deeper production cuts when they meet in December. Members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies will consider making further reductions to crude output when they meet in December because of growing concerns about a slowdown in growth for oil demand.
The report also said OPEC member Saudi Arabia wants to first lift adherence to the agreement, as Iraq and Nigeria are among the countries that have not fully complied with the reductions.
Benchmark crude oil futures for November rose 85 cents or 1.6 percent to settle at $54.16 a barrel on the New York Mercantile Exchange. December Brent gained 74 cents or 1.3 percent to settle at $59.70 a barrel on London's Intercontinental Exchange.
MCX Live Rates
Monday, 21 October 2019
Copper futures edge higher on trade deal hopes
Copper futures edged higher on Monday as expectations of a Sino-US trade deal helped lift sentiment. US President Donald Trump on Friday said he thought a trade deal between the United States and China would be signed by the time the Asia-Pacific Economic Cooperation meetings take place in Chile on November 16-17, easing concerns over trade conflicts and thereby boosted metal demand.
Copper futures for December delivery gained $0.0060 to $2.6420 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was rose about 0.5% to $5,837.50 a ton.
MCX Live Rates
Friday, 18 October 2019
India rice prices hit multi-month lows as buyers defer purchases
Demand for rice from top exporter India was subdued as buyers delayed purchases despite a dip in prices to four-month lows this week, while restricted supply kept rates for the Vietnamese variety at their highest in two months.
Prices for India's 5 percent broken parboiled variety fell to $365-$370 per tonne from $368-$372 a week ago.
"Asian and African buyers are not in a hurry. They are postponing buying anticipating a further fall in prices," said an exporter based at Kakinada in the southern state of Andhra Pradesh.
India's rice exports in August fell 29% year-on-year to 644,249 tonnes due to weak demand from African countries for non-basmati rice, among other factors. Its rice production from the summer-sown crop in 2019 is expected to drop 1.7% from a year ago to 100.35 million tonnes.
Meanwhile, rates for Vietnam's benchmark 5% broken rice were unchanged from last week's $350 a tonne, a two-month high. "Demand is weak, but low supplies have helped keep prices from falling.
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