Daily commodity market report 25 march 2014 by epic research

Page 1

DAILY COMMODITY REPORT 25th MARCH 2014

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DAILY MARKET WRAPUP 25th MARCH 2014 COMMODITY

CONTRACT

OPEN PRICE

HIGH

LOW

CLOSE PRICE

%CHANGE

OI (in lots)

GOLD

05-APR-14

29700

29700

29121

29159

-1.94%

8197

SILVER

05-MAY-14

44510

44510

43900

43949

-2.29%

14957

CRUDEOIL

21-APR-14

6111

6124

6043

6084

-0.07%

8433

NATURALGAS

26-MAR-14

264.4

264.7

259.1

259.6

-2.62%

6504

COPPER

30-APR-14

399.2

401.6

396

398.4

-0.49%

23541

NICKEL

31-MAR-14

974

984.7

966.8

977.5

+1.02%

8913

ALUMINIUM

31-MAR-14

103.1

103.35

102.55

102.95

+0.19%

5184

LEAD

31-MAR-14

125.6

125.6

123.8

124.05

-1.19%

3537

ZINC

31-MAR-14

118.25

118.45

117.45

117.55

-1.26%

2812

LME WAREHOUSE STOCKS (24-MAR- 2014)

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METAL

TONNES IN STORAGE

ALUMINIUM

-8200

COPPER

-2025

LEAD

UNCH

NICKEL

-54

TIN

-5

ZINC

-3675 Call us at +91-731-6642300


INTERNATIONAL MARKETS 25th MARCH 2014

PRECIOUS AND INDUSTRY METALS COMMODITY

UNITS

PRICE

CHANGE

% CHANGE

CONTRACT

COMEX GOLD

USD/T OZ.

1,314.00

-22.00

-1.65%

JUN 14

GOLD SPOT

USD/T OZ.

1,313.36

+4.60

+0.35%

N/A

COMEX SILVER

USD/T OZ.

20.03

-0.29

-1.40%

MAY 14

COMEX COPPER

USD/LB.

297.05

+2.00

+0.68%

MAY 14

PLATINUM SPOT

USD/T OZ.

1,432.13

+2.88

+0.20%

N/A

ENERGY COMMODITY FUTURES COMMODITY

UNITS

PRICE

CHANGE

% CHANGE

CONTRACT

CRUDE OIL (WTI)

USD/BBL.

99.56

-0.04

-0.04%

MAY 14

CRUDE OIL (BRENT)

USD/BBL.

106.65

-0.16

-0.15%

MAY 14

RBOB GASOLINE

USD/GAL.

288.80

-0.29

-0.10%

APR 14

NYMEX NATURAL GAS

USD/MMBTU

4.29

+0.02

+0.35%

APR 14

NYMEX HEATING OIL

USD/GAL.

291.20

-0.81

-0.28%

APR 14

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INTRADAY SUPPORT AND RESISTANCE 25th MARCH 2014

COMMODITY

EXPIRY

SUP.3

SUP.2

SUP.1

PIVOT

RES.1

ALUMINIUM

31-MAR

102.15

102.55

102.95

103.35

103.75

COPPER

30-APR

393.07

395.73

398.67

401.33

404.27

CRUDEOIL

21-APR

6003

6043

6084

6124

6165

GOLD

5-APR

28748

28953

29327

29532

29906

LEAD

31-MAR

122.68

123.37

124.48

125.17

126.28

NATURALGAS

25-APR

257.23

259.07

262.13

263.97

267.03

NICKEL

31-MAR

958.4

968.0

976.3

985.9

994.2

SILVER

5-MAY

43510

43729

44120

44339

44730

ZINC

31-MAR

116.82

117.18

117.82

118.18

118.82

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MOST ACTIVE CONTRACTS 25th MARCH 2014

Symbol

Expiry Date

LTP

Value (In Lacs)

Volume (In Lots)

SILVERMICRO

30-04-2014

43995.00

2,96,72,42,775.00

67,445

CRUDE OIL

21-04-2014

6081.00

35,04,54,111.00

57,631

COPPER

30-04-2014

398.25

1,60,19,208.00

40,224

SILVER M

30-04-2014

43993.00

1,54,49,46,174.00

35,118

NATURAL GAS

26-03-2014

259.70

85,11,148.10

32,773

COPPERMINI

30-04-2014

398.40

1,06,98,633.60

26,854

NICKEL

31-03-2014

976.60

1,99,46,078.40

20,424

SILVER

05-05-2014

43960.00

86,36,82,120.00

19,647

GOLD M

04-04-2014

29206.00

49,89,55,304.00

17,084

NICKELMINI

31-03-2014

976.90

1,38,47,557.50

14,175

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TODAY,S COMMODITY NEWS 25th MARCH 2014

COMMODITY HEADLINES

No change in 80:20 rule for gold import. Short Covering Supports Turmeric. Copper Faces Double Trouble, After COT Report, China PMI Dec. Cardamom Off High On Selling Pressure. Gold Drops Towards One-Month Low As Stocks Fly but Climbs Back After Fall Near $1300. Philippines Rubber Marketing Mission visits in Indian Rubber Board. DMCC signs MoU with World Diamond Mark. Global Coffee supply deficit seen at 612,000 bags in 2014-15. India Silver imports surge 180% to 5500 tons in 2013. Pakistan’s Rice exports down 3% to 2.08 mn tons in Jul-Feb. Crude Oil supply growth accelerates posing downside risk to prices. RM Seeds market rises on short covering, open interest drops 1.38% . Ref Soya Oil market rises on short covering, open interest drops 3.21%

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COMMODITY BUZZ AND ECONOMIC EVENTS 25th MARCH 2014 SPECIAL NEWS DMCC (Dubai Multi Commodities Centre), Dubai’s and the

COMMODITY BUZZ Copper is facing double trouble after a series of data has aggra-

region’s global gateway for commodity trade and enterprise,

vated pain of the day traders. The prices were jostling with the

and World Diamond Mark (WDM) have signed a Memoran-

Commitment of Traders report showing rise in short positions.

dum of Understanding (MoU) to increase sustainable con-

The combined positions as on 18 March 2014 by Commitment of

sumer appeal and confidence in diamonds and the jewellery

Traders has shown that the long positions of Copper were down

industry.

by 3093 contracts to 29156 contracts from 32249 contracts on 11 March 2014.

U.S. manufacturing business conditions continued to improve at the end of the first quarter, as highlighted by the Markit

MCX Gold slipped further yesterday a break under Rs 30000 per

Flash U.S. Manufacturing Purchasing Managers' Index (PMI)

10 grams continued to bring follow up selling amid gloomy cues

registering 55.5 in March. The index, which is based on ap-

from global gold market. The shiny metal has come off its six-

proximately 85% of usual monthly replies, was down from

month high and pulled lower today in the electronic moves. The

57.1 in February but still the second-highest since Jan

COMEX Gold futures were sold off amid a positive session for

2013.Reports respondents cited improving economic funda-

global stocks and the metal is lingering around its one month low

mentals and, to a lesser degree, an on-going catch-up effect

of $1324, down $12 per ounce or 0.90% on the day. MCX Gold

following weather disruptions earlier in the year.

futures are trading at Rs 29466, down Rs 276 or 0.93% with the strength in Indian Rupee adding to the selling pressure.

The soft Chinese factory numbers capped the gains in oil. The HSBC data for March showed a drop to 48.1, compared to a

Crude Oil supply growth is accelerating while demand due to

forecast of 48.7 expected and to a final of 48.5 for the previous

cold weatehr and China imports have weakened which poses

month. A figure below 50 implies contraction with the latest

downside risk to oil prices. China's crude oil imports have fallen

number part of a string of disappointing China data suggesting

back from all-time highs and evidence has started to mount of a

a deepening economic slowdown at the start of 2014.

robut recovery in oil supply.

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EPIC RESEARCH– ANALYST SPEAKS 25th MARCH 2014

SILVER

SILVER MCX Short term trend is DOWN. Immediate support @ 44500. Immediate Resistance @ 46250 Yesterday SILVER MCX Closed @ 43949. Yesterday Intraday Range of SILVER MCX was 605. Open Interest was down +3.90 %, Volumes were 19770 lots. For today Keep a close eye on US data, volatility may Rule the overall Market due to USDINR Movements. BUY SILVER(MAY) ABOVE 44550 TGTS 44750/45100 SL 44200 SELL SILVER(MAY) BELOW 43850 TGTS 43550/43200 SL 44200 YOUR MINTVISORY

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EPIC RESEARCH– ANALYST SPEAKS 25th MARCH 2014

GOLD

GOLD MCX Short term trend is down. Immediate support @ 29100. Immediate Resistance @ 29410. Yesterday GOLD MCX Closed @ 29159 . Yesterday Intraday Range of GOLD MCX was 538. Open Interest was down -7.25 %, Volumes were 13450 lots. For today Keep a close eye on US data, volatility may Rule the overall Market due to USDINR Movements. BUY GOLD(APR) ABOVE 29410 TGTS 29490/29590 SL 29290 SELL GOLD(APR) BELOW 29100 TGTS 29020/29920 SL 29220

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EPIC RESEARCH– ANALYST SPEAKS 25th MARCH 2014

GUARSEED

RESISTANCE 2

4747

RESISTANCE 1

4788

PIVOT

4710

SUPPORT 1

4662

SUPPORT 2

4618 Guarseed daily chart shows sideways to bearish trend. expecting price will go down momentum indicator RSI is below mid range, recommending sell on high, Immediate support @ 4690 and immediate resistance @4750 BUY GUARSEED ABOVE APR 4750 TGTS 4780,4830 SL 4700 SELL GUARSEED APR BELOW 4690 TGTS 4660,4610 SL 4740

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EPIC RESEARCH– ANALYST SPEAKS 25th MARCH 2014

DHANIYA

RESISTANCE 2

8969

RESISTANCE 1

9051

PIVOT

8850

SUPPORT 1

8779

SUPPORT 2

8671

Dhaniya daily chart price shows trend Bearish. the momentum indicator RSI is in mid range recommending sell on high, Immediate support @ 8820 and immediate resistance @ 8920 BUY DHANIYA APR ABOVE 8920 TGTS 8950,9000 SL 8870 SELL DHANIYA APR BELOW 8820 TGTS 8790,8740 SL 8870

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TODAY’S ECONOMIC EVENTS 25th MARCH 2014

TUESDAY, MARCH 25 TIME

COUNTRY

EVENT

10:15

AUD

RBA ASSIST GOV LOWE SPEAKS

14:30

EUR

GERMAN BUSINESS EXPECTATIONS

107.6

108.3

14:30

EUR

GERMAN CURRENT ASSESSMENT

114.6

114.4

14:30

EUR

GERMAN IFO BUSINESS CLIMATE INDEX

111.0

111.3

15:00

GBP

BBA MORTGAGE APPROVALS

50.0K

50.0K

15:00

GBP

CPI (YOY)

1.7%

1.9%

15:00

GBP

CPI (MOM)

0.5%

-0.6%

15:00

GBP

PPI INPUT (MOM)

0.3%

-0.9%

18:30

USD

S&P/CS HPI COMPOSITE - 20 (YOY)

13.3%

13.4%

19:30

USD

CB CONSUMER CONFIDENCE

78.6

78.1

19:30

USD

NEW HOME SALES

445K

468K

19:30

USD

NEW HOME SALES (MOM)

-4.9%

9.6%

21:30

EUR

ECB PRESIDENT DRAGHI SPEAKS

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