Cardamom futures dip amid easing spot demand

Cardamom futures were trading lower during the morning trade in the domestic market on Thursday as speculators booked profits at prevailing levels amid easing demand in the spot market.

Analysts said besides profit booking by participants at existing level, fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

At the MCX, cardamom futures for October 2017 contract was trading at Rs 1138 per kg, down by 0.07 per cent, after opening at Rs 1138, against a previous close of Rs 1138.80. It touched the intra-day low of Rs 1137.

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Cardamom futures up on rising demand

Cardamom futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market.

Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices.

At the MCX, cardamom futures for October 2017 contract was trading at Rs 1191.40 per kg, up by 0.54 per cent, after opening at Rs 1195, against a previous close of Rs 1185. It touched the intra-day high of Rs 1195.

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Crude palm oil, Cardamom prices tank while Mentha oil soars

Agri commodities namely crude palm oil and mentha oil prices in futures trading witnessed a dip during Tuesday’s trade.

Crude palm oil prices shed 0.13% to Rs 526.30 per 10 kg in futures trade as traders reduced exposure due to lower demand in the spot market against adequate stock positions. At the MCX, crude palm oil for delivery in October drifted down by 70 paise or 0.13% to Rs 526.30 per 10 kg in business turnover of 9 lots.

Cardamom prices drifted lower by 1.02% to Rs 1,200 per kg as market participants reduced their exposure amid easing demand in the spot market against adequate stocks. At the Multi Commodity Exchange, cardamom for delivery in September fell by Rs 12.40 or 1.02% to Rs 1,200 per kg in business turnover of 15 lots.

Analysts said besides profit booking by participants at existing level, fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

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Copper futures surge 0.91% on robust demand

Copper futures were trading higher during the noon trade in the domestic market on Monday amid pick-up in demand at the domestic spot markets. Marketmen attributed the rise in copper futures to a rising demand from consuming industries at domestic spot markets.

At the MCX, copper futures for November 2017 contract was trading at Rs 445.95 per kg, up by 0.91 per cent, after opening at Rs 443.10, against a previous close of Rs 441.95. It touched the intra-day high of Rs 447.50. 

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Zinc futures rise on pick-up in demand

Zinc futures were trading higher during the afternoon trade in the domestic market on Thursday as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets. Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market.

At the MCX, zinc futures for August 2017 contract was trading at Rs 199.20 per kg, up by 0.96 per cent, after opening at Rs 198.80, against a previous close of Rs 197.30. It touched the intra-day high of Rs 199.60. 

 

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Crude Oil prices to trade lower

WTI oil prices declined by 0.3 percent yesterday to close at D46.4 per barrel as Reuters estimated that at least 3.65 million barrels per day (bpd) of refining capacity was offline or 19.6 percent of total U.S. capacity after Motiva  shuttered the largest U.S. refinery. Tropical Storm Harvey knocked out several refineries and disrupted fuel production, while a backup in crude supplies pushed U.S. crude oil futures down more than 2.5 percent.

Brent crude, the international benchmark for crude trading, was down 30 cents at $51.70 a barrel by 0825 GMT. U.S. crude fell 25 cents to $46.19.

U.S. crude inventories fell by 5.78 million barrels last week, the API industry group reported on Tuesday, suggesting a gradual tightening of the U.S. oil market. The figures, however, do not reflect the impact from Harvey.

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Aluminium futures gain 0.38% on spot demand

Aluminium futures were trading higher during the noon trade in the domestic market on Monday as speculators built up fresh positions. Analysts said participants created fresh positions on the back of rise in demand from consuming industries in physical market.

At the MCX, aluminium futures for August 2017 contract is trading at Rs 131.80 per kg, up by 0.38 per cent, after opening at Rs 130.70, against a previous close of Rs 131.30. It touched the intra-day high of Rs 132.10.

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