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International Commodities Evening Update 07 March 2013

International Commodities Evening Update 07 March 2013

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Published by Angel Broking
International Commodities Evening Update 07 March 2013
International Commodities Evening Update 07 March 2013

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Published by: Angel Broking on Mar 07, 2013
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03/13/2013

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Commodities Evening Update
 
International Commodities
Thursday | March 7, 2013
 
Content 
Day’s o
verviewMarket HighlightsOutlookImportant Events for Today
Angel Commodities Broking Pvt. Ltd.
Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093.Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302
Disclaimer:
The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness andcorrectness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or in
part, by any recipient hereof for any purpose without prior permission from “Angel Commodities Broking (P) Ltd”. Your feedback is appreciated on
Research Team
Vedika Narvekar - Sr. Research Analyst
vedika.narvekar@angelbroking.com(022) 2921 2000 Extn :6130
Saif Mukadam
 –
Research Analyst
saif.mukadam@angelbroking.com(022) 2921 2000 Extn :6136
Anish Vyas - Research Analyst
anish.vyas@angelbroking.com(022) 2921 2000 Extn :6104
 
 
Commodities Evening Update
 
International Commodities
Thursday | March 7, 2013
 
Performance during the day
as at 4.30 pm
 –
 
7 March ’13
 
Index Open High Low Last% Chgfrom PrevdayNifty
5801.30 5878.00 5801.30 5863.30 0.77
Sensex
19222.05 19465.52 19212.92 19413.54 0.84
Nikkei
12037.25 12069.60 11946.01 11968.08 0.30
Kospi
2018.63 2018.63 1998.29 2004.40 -0.81
FTSE
15965.00 16020.20 15918.75 15918.75 0.42
Source: Reuters
as at 4.30 pm
 –
 
7 March ’13
 
Currency Open High Low Current% Chg fromPrev dayDollar Index
82.62 82.62 82.34 82.485 -0.03
Euro/$ Spot
1.2965 1.3044 1.2964 1.302 0.42
INR/$ Spot
54.715 54.90 54.51 54.51 -0.53
Source: Reuters
as at 4.30 pm
 –
 
7 March ’13
 
Commodity Unit Open High Low Last% ChgfromPrev daySpot Gold
$/oz
1583.09 1585.39 1578.59 1581.15 -0.14
Comex Gold
Mar’13
 
$/oz
1580.00 1583.50 1579.90 1579.90 0.34
MCX Gold
 –
 
Apr’13
 
Rs/10gms
29644.00 29678.0 29492.0 29593.00 -0.24
Spot Silver
$/oz
29.02 29.06 28.85 28.88 -0.45
Comex Silver
May’13
 
$/oz
28.23 28.955 28.955 28.955 0.68
MCX Silver
 –
 
May’13
 
Rs/kg
55105 55225 54909 54968 -0.13
Crude Oil Nymex
 –Apr ‘
13
$/bbl
90.42 90.83 90.22 90.69 0.29
ICE -Brent CrudeOil*
$/bbl
111.08 111.31 110.69 110.93 -0.12
MCX Crude Oil
Mar’ ’13
 
Rs/bbl
4940 4971 4940 4940 0.40
Copper LME - 3Month
$/tonne
7727.00 7742.00 7700.00 7711.50 0.07
MCX Copper -
April’13
 
Rs/kg
427.55 427.60 425.60 427.25 -0.42
Zinc LME - 3 Month
$/tonne
1984.00 1988.00 1974.00 1979.50 -0.13
Zinc MCX - Mar
’1
3
Rs/kg
108.20 108.20 107.30 108.25 -0.74
Lead LME - 3Month
$/tonne
2191 2192 2180 2185 -0.09
Lead MCX - Mar
’1
3
Rs/kg
119.90 119.90 118.90 120.00 -0.71
Nickel LME - 3Month
$/tonne
16570 16617 16550 16555 0.03
Nickel MCX -Mar
’1
3
Rs/kg
912.40 912.50 905.50 911.00 -0.42
Aluminum LME - 3Month
$/tonne
1959.00 1971.00 1949.75 1961.00 0.26
Aluminum MCX -Mar
’1
3
Rs/kg
106.45 106.50 106.00 106.25 -0.54
Source: Reuters
.
News and Analysis
Japan’s Overnight Call Rate remained unchanged at 0.1 percent
.
 
French Trade Balance was at a deficit of 5.9 billion Euros in January
 
German Factory Orders declined by 1.9 percent in February.
 
European equities are trading on a flat note today as investors arelooking forward to Central bank meeting. US stock futures are tradingin the green and Asian markets ended on a negative note.
Japan’s
Overnight Call Rate remained unchanged at 0.1 percent in themonth of March. Leading Indicators rose by 96.3 percent in Januaryas against a rise of 93.2 percent a month ago.German Factory Orders declined by 1.9 percent in the month of February as compared to 1.1 percent rise in January. French TradeBalance was at a deficit of 5.9 billion Euros in January as against aprevious deficit of 5.4 billion Euros a month ago.Spot gold prices declined by 0.14 percent on the back of mixed globalmarket sentiments and as gold safe heaven appeal fades. The yellowmetal touched an intra-day low of $1578.59/oz and hovered around$1581.15/oz today till 4:30pm IST. In the Indian markets, appreciationin the Rupee added downside pressure in the prices on the MCX.Taking cues from drop in gold prices, Spot silver prices fell by 0.45percent today. Weakness in DX coupled with decline in borrowingcost for spain and France cushioned sharp downfall in prices. Thewhite metal touched an intra-day low of $28.85/oz and was trading at$28.88
/oz in today’s trade. On the domestic markets, prices traded
on a negative note on the back of appreciation in the Indian Rupee.On MCX, Silver touched an intra-day low of Rs54909/Kg and hoveredaround Rs54968/Kg today till 4:30pm IST.The base metals pack, traded on a flat note on the back of Mixedglobal market sentiments along with Increase in LME inventories.Expectations that major central banks will maintain the stimulusmeasures to spur growth and as cost of borrowing for Spain andfrance declined coupled with weakness in DX cushioned downfall inprices .Appreciation in Indian Rupee added fall in the prices on MCX.Copper, the leader of the base metals is trading on flat note on theback of rise in LME copper inventories by 1.6 percent which stood at481,225 tonnes. Additionally, appreciation in the Indian rupee alsoadded downside pressure on the prices. On the MCX, Copper touchedan intra-day low of Rs425.60/kg and was trading at Rs427.25/kg todaytill 4:30pm ISTNymex crude oil prices increased by 0.29 percent today on the backof weakness in DX and expectations that central banks over the worldwill continue with its bond buying program and as cost of borrowingfor Spain and france declined. However, sharp upside in the priceswas capped on the back of rise in crude oil inventories. Further,appreciation in Indian Rupee capped the sharp rallies on MCX.

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