DAILY MCX NEWSLETTER 21 - JAN. JAN.-2014 2014
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BULLION: The Silver, Lead and Zinc Ore Mining industry in Australia is expected to generate revenue of $4.3 billion in 2013-14, compared with $3.9 billion in 2008-09, showing annual growth for the five years of 2.1%. The increase reflects higher silver prices over these years, while lead and zinc ore prices declined. These declines did, however, contribute to higher zinc and lead demand and volumes over the period. According to IBISWorld industry analyst Alen Allday, “Silver volumes have declined in the past five years, as downstream companies that use silver in their manufacturing processes turned to substitute metals or reduced demand.” Industry revenue is expected to increase by 2.8% in 2013-14 as volumes increase slightly and ore prices remain stable or rise by a small margin.
BASE METAL: Some global economic uncertainty in 2011-12 and 2012-13 resulted in industry declines as ore prices generally fell. Global zinc and lead prices continued to decline from the peaks of 2006-07 and 200708, while silver ore prices peaked in 2011-12 on the back of high gold prices and speculative activity. “Firming economic growth after the global financial crisis, especially in China and India, propelled demand for zinc and lead in the past five years,” says Allday. In 2013-14, Australia's industry-relevant mine output is estimated at 1.5 million tonnes of zinc, 700,000 tonnes of lead and 58.2 million troy ounces of silver. Comparable figures for 2007-08 are 1.4 million tonnes of zinc, 596,000 tonnes of lead and 62.2 million troy ounces of silver. A high proportion of the industry's output of zinc and silver is exported in the form of concentrates, while a substantial proportion of lead output is refined locally. The industry exhibits a high level of concentration, with major players BHP Billiton Limited, Xstrata Holdings Pty Ltd, and Minerals and Metals Group dominating the market.
ENERGY: Japan which accounts for 40% of world's import of Liquefied Natural Gas (LNG) is preparing the stage for the launch of world's first LNG futures contract. Japan currently pays $16-18 per million British Thermal units for LNG as against the $4-5/mm btu for the product in gaseous form in USA,the Wall Street Journal reported. Last year, Japan's Ministry of Economy, Trade and Industry (MITI) had announced it goal of launching the LNG futures by March 2012. As a first step it will be establishing a spot LNG reference price and a joint venture with a Singapore firm to start an over-the-counter market for LNG derivatives. Natural gas demand has risen in Asian following the Fukushima Daiichii accident in March 2011 which led to shutdown of nuclear reactors worldwide.
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GOLD (5 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY
: - CONSOLIDATE : - 29500, 29650 : - 29050, 28900 : - BUY ON DIPS
SILVER (5 MAR.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY
: - CONSOLIDATE : - 45350, 45700 : - 44700, 44400 : - BUY ON DIPS
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CRUDEOIL (19 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY
: - CONSOLIDATE : - 5830, 5880 : - 5710, 5650 : - SELL ON HIGH
NATURAL GAS (28 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY
: - CONSOLIDATE : - 265.50, 269.00 : - 258.50, 253.00 : - BUY ON DIPS
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COPPER (28 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY
: - CONSOLIDATE : - 459.00, 462.50 : - 453.50, 450.50 : - SELL ON HIGH
LEAD (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY
: - CONSOLIDATE : - 136.00, 137.00 : - 133.00, 132.00 : - SELL ON HIGH
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ZINC (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY
: - CONSOLIDATE : - 129.50, 130.50 : - 126.50, 125.50 : - SELL ON HIGH
ALUMINUM (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY
: - CONSOLIDATE : - 110.50, 111.50 : - 107.50, 106.50 : - SELL ON HIGH
NICKEL (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY
: - CONSOLIDATE : - 907.00, 916.00 : - 887.00, 878.50 : - BUY ON DIPS
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GOLD SILVER COPPER CRUDEOIL PALLANDIUM PLATINUM
USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD
1252.23 20.200 3.340 94.10 746.30 1461.80
61.5550 01.3545 104.670 00.9119 01.6425 01.0953
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Published on Jan 21, 2014
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