All the news from Commodity Online
LME Zinc surplus may ease in the next couple of quarters: Barclays
Production data suggest that may be short-lived, however, after a recovery in Chinese refined zinc output in March, with the annualised pace jumping to 5.4Mt (the bank had forecast 5.1Mt), so production is back on track, provided it is maintained at that level.
2013-05-20 Read more
Global Aluminium surplus in 2013 expected at 1mn ton: Barclays
Moreover, in terms of the build out of capacity in Xinjiang province, it has generally been observed that bottlenecks have been overcome; rail capacity is to be expanded by year end and water is not an issue. Record semis output in March, combined with an open import arbitrage window, point to significantly stronger demand in Q2 versus Q1.
2013-05-20 Read more
MCX Gold sideways to bullish resistance 26400
For intra-day, support for the commodity is seen at 26100 initially and below that it could test level of 26000. Resistance for the yellow metal is there at 26400. Intra-day traders can take advantage both sides as prices may remain highly volatile. and nbsp;MCX gold futures for June delivery was seen trading up by 0.38% at Rs.26194 per 10 grams as of 01.18 PM IST on Tuesday.
2013-05-20 Read more
MCX Silver sideways to bullish resistance 44200
For intra-day, support for the commodity is seen at 42000 while 44200 is the strong resistance. The prices are likely to trade in green zone during intra-day session. and nbsp;Those traders who are holding sell position should maintain the stop loss of 44200. and nbsp;MCX silver for July delivery was seen trading up by 0.06% at Rs.43288 per kilogram as of 11.55 AM IST on Tuesday.
2013-05-20 Read more
Comex Silver at $24 oz MCX Silver at 47000 48000: Possible in two weeks or three
For intra-day, he advises investors to buy around 42700-42800 with stop loss below 42000 and await the target at 44000-44500.
2013-05-20 Read more
Technically speaking: Why R J O' Brien and Associates thinks Gold could rally to $1500 oz
The analyst there holds the view that gold has hit a double bottom on Monday and can climb from $1,336.30 that was seen yesterday. A double bottom represents a slump followed by rebound and then another slump which is indicative of a support formation at the bottom level.
2013-05-20 Read more
India man made Staple Fibre imports fall to $50 47 mn value wise for April 2013: Report
Imports of synthetic staple fibres not carded and combed has fallen month on month basis by -22.04%. Total value of imports in April- 2013 was 10.67 mn, compared to March 2013 , there is a decrease of -3.02 M in April- 2013, growth rate in percentage terms is -22.04%, the major destination countries were China, Germany, Egypt, Taiwan and Thailand and major Indian ports were Ludhiana ICD, JNPT, Madras Sea, Mundra and Calcutta Sea.
2013-05-19 Read more
Asian LNG buyers most likely to seek long term supply commitments: Barclays
Asian buyers are most likely to seek long-term supply commitments as the relative scarcity of local natural gas production necessitates a greater focus on the security of LNG supply.
2013-05-19 Read more
Gold may not find support from physical market as seasonal demand wanes: Barclays
In the US this week, Barclays' economists expect the FOMC meeting minutes, to be released on 22 May, to reveal somewhat more concern about the near-term path for US economic activity. Also expected is new language in the statement revealing that purchases could be adjusted up or down, but no new clarity regarding the committee and rsquo;s stance on the anticipated timing of adjustment in the pace of purchases.
2013-05-19 Read more
MCX Crude Oil sideways range bound book profit in narrow range
For intra-day, support for the commodity is seen at at 5260 while 5330 is the resistance. Intra-day traders are advised to book profit in narrow range. and nbsp;Further buying can be expected only above 5330 level. Those who hold sell position should maintain the stop loss of 5330
2013-05-19 Read more