Daily Commodity Report - Inventure Growth€¦MCX Crude oil Crudeoil settled down -0.29% at 3731 dropped on views that Iran could add to the surplus in crude oil markets if trade sanctions

Open High Low Close % Cng

Gold 26780 26840 26725 26795 0.28Silver 37130 37220 36769 36861 -0.40

Aluminium 111.10 111.25 110.15 110.75 -0.18Copper 383.75 384.50 381.30 383.55 0.26Lead 122.45 123.95 121.95 122.50 0.37Nickel 842.00 863.60 840.10 859.20 2.10Zinc 137.20 137.85 136.40 137.30 0.15

Crude 3762.00 3798.00 3718.00 3731.00 -0.29Nat. Gas 167.60 174.40 167.60 173.20 3.77

Chana 4728 4741 4648 4685 -0.87Cardamom 790.0 805.3 786.5 800.2 1.32Turmeric 7700 7700 7434 7504 -2.77Jeera 17130 17180 16470 16690 -2.57

Wheat 1502 1506 1482 1485 -0.93Soybean 3845 3857 3716 3754 -3.00Ref. Oil 602.0 604.3 596.0 597.6 -0.95CPO 464.9 464.9 457.4 458.5 -0.91RMSeed 4258 4258 4100 4127 -2.73Mentha Oil 949.0 965.0 945.0 962.1 1.84Cotton 16320 16320 16120 16250 0.06

USDINR 64.30 64.44 64.25 64.35 0.48EURINR 71.72 71.91 71.27 71.67 -0.28GBPINR 98.13 98.43 97.83 98.06 0.07JPYINR 51.29 51.49 51.19 51.37 0.12

Currency

SELL COPPER JUNE @ 382-383 SL ABV 385.80 TGT 379.50-377-374.80. MCX (STBT)

Round up

Gold clung to small gains on a weaker dollar, but the metalremained low as investors fretted over the timing of a USinterest rate hike.

Base metals prices recovered to end with gains bolsteredby a weaker dollar and expectations that top metalsconsumer China will unleash further stimulus measures.Data showed a drop in China's total goods imports lastmonth as it will probably keep the pressure on Beijing formore stimulus to avert a sharper economic slowdown.

Crude oil on views that Iran could add to the surplus incrude oil markets if trade sanctions are lifted and asChina’s crude oil imports fell in May.

Daily Commodity Reportas on Tuesday, June 09, 2015

The entire spices counter on the NCDEX yesterdayended with losses. Turmeric prices ended with morethan three percent losses followed by more thantwo percent losses in jeera and two percent gains in dhaniya prices. Turmeric prices ended with lossesdue to sluggish demand from retailers and stockistsat prevailing higher levels amid adequate stockpositions. Jeera prices dropped on account of surgein supply from major producing regions in the midstof a decline in the export demand.

Trading Calls for the Day

SELL SILVER JULY @ 37200 SL 37500 TGT 36900-36600.MCX

BUY CRUDE OIL JUNE @ 3710 SL 3670 TGT 3756-3798.MCX

SELL GOLD AUG @ 26880 SL 27000 TGT 26750-26600.MCX

Rupee dropped as the US dollar strengthened afterupbeat job data raised expectations for a rate hike inthe US.

BUY MENTHA OIL JUNE @ 952 SL 940 TGT 965-980.MCX

SELL SOYABEAN AUG @ 3790 SL 3830 TGT 3755-3710.NCDEX

SELL CHANA JULY @ 4708 SL ABV 4756 TGT 4685-4656-4626. NCDEX (STBT)

Precious Metals

Base Metal

Energy

Agri

Open 26780High 26840Low 26725Close 26795% Cng 0.28OI 8201Volume 8720Resist 2 26902Resist 1 26849Support 1 26734Support 2 26672

Open 37130High 37220Low 36769Close 36861% Cng -0.4OI 13559Volume 15955Resist 2 37401Resist 1 37131Support 1 36680Support 2 36499

Tuesday, June 09, 2015

MC

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ilver

MCX Silver03 JUL 2015

MCX Gold05 AUG 2015

Daily Commodity Reportas on

MC

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old

Silver trading range for the day is 36499-37401.

Silver recovered but still outlook remain weak amid speculation the Federal Reserve could raise interest rates as early as September.

A robust U.S. jobs report bolstered expectations for a rate hike from the Federal Reserve later this year.

Holdings at ishares silver trust gained by 1.06% i.e. 105.51 tonnes to 10046.46 tonnes from 9940.95 tonnes.

Silver settled down -0.4% at 36861 but recovered from the day's low as the dollar and stock markets fell, though prices hovered near 11-week lows afterFriday's jobs data fueled speculation that US interest rates may rise in September. The report bolstered expectations the Federal Reserve will begin to raise U.S.rates in September, which would increase the opportunity cost of non-interest paying bullion. While Dollar remained supported after a robust U.S. jobs reportbolstered expectations for a rate hike from the Fed later this year. The Labor Department reported that the U.S. economy added 280,000 jobs in May. Theupbeat data underlined the view that the economy is on track to rebound after a weak first quarter and bolstered expectations that the Fed could start raisingrates at its Sept policy meeting. Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to competewith yield-bearing assets when rates are on the rise. Meanwhile, developments surrounding talks between Greece and its international creditors remained infocus. Also China's economy grew at the slowest pace in six years in the Q1, underling speculation policymakers will have to introduce further easing measuresto jumpstart the economy amid lackluster growth. In the week ahead, investors will be focusing on Thursday's U.S. retail sales report for May, as well as Friday'sconsumer sentiment data, for fresh indications on the strength of the economy and the timing of a rate increase. Technically market is getting support at 36680and below same could see a test of 36499 level, And resistance is now likely to be seen at 37131, a move above could see prices testing 37401.

Market Snapshot

SELL SILVER JULY @ 37200 SL 37500 TGT 36900-36600.MCX

2

Gold settled up 0.28% at 26795 tracking declining global equity markets with the dollar trending lower against a basket of major currencies. A weaker dollartends to encourage buying in dollar-priced commodities, making it cheaper to holders of other currencies. The precious metal was under pressure after the IMFstressed the Fed should refrain from hiking interest rates after the Fund slashed its U.S. growth forecast for the year. Some positive news on the U.S. economymay push the Federal Reserve to raise interest rates this summer, although a move before September now seems unlikely. The IMF's deputy managing directortoday warned that there is "considerable" risk if the Fed hikes rates too soon. Meanwhile, the Greek tragic drama on its financial woes continues to simmer in thebackground. With no progress thus far, Greece's talks with its international creditors to resolve its debt woes is set to continue later today. News reports say theGreek Prime Minister Alexis Tsipras is also scheduled to meet German Chancellor Angela Merkel and French President François Hollande in Brussels onWednesday. Meanwhile investor positioning continued to reflect bearish sentiment. Traders will be watching more U.S. data due Tuesday for clues about theeconomy and the outlook for Fed monetary policy. Markets were also eyeing developments over the Greek debt crisis. Greece proclaimed a new willingness tocompromise with its international creditors on Monday, as German Chancellor Angela Merkel warned that time was running out for a reform-for-aid deal to keepthe country in the euro. Technically market is getting support at 26734 and below same could see a test of 26672 level, And resistance is now likely to be seenat 26849, a move above could see prices testing 26902.

Market Snapshot

Gold trading range for the day is 26672-26902.

Gold clung to small gains on a weaker dollar, but the metal remained low as investors fretted over the timing of a US interest rate hike.Gold was under pressure after the IMF stressed the Fed should refrain from hiking interest rates after the Fund slashed its U.S. growth forecast for the year.Outflows were seen from the SPDR Gold Trust, holdings fell 0.17 percent to the lowest since mid-January at 708.70 tonnes on Friday.

SELL GOLD AUG @ 26880 SL 27000 TGT 26750-26600.MCX


Open 167.6High 174.4Low 167.6Close 173.2% Cng 3.77OI 10816Volume 37625Resist 2 178.5Resist 1 175.8Support 1 169.0Support 2 164.9

2

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MCX Natural gas

Naturalgas settled up 3.77% at 173.20 rose for the first time in four sessions on Monday, as investors returned to the market to seek cheap valuations in wakeof recent losses. Lastweek prices dropped and settle near a five-week low as forecasts for mild weather across the U.S. in the week ahead and concerns overample supplies weighed. Weather forecasting models called for mostly normal temperatures across the U.S. through mid-June, suggesting little demand for thefuel and paving the way for additional hefty inventory builds in the weeks ahead. Spring usually sees the weakest demand for natural gas in the U.S, as theabsence of extreme temperatures curbs demand for heating and air conditioning. Meanwhile, the U.S. Energy Information Administration said last week thatnatural gas storage in the U.S. rose by 132 billion cubic feet, above expectations for an increase of 121 billion and following a build of 112 billion cubic feet in thepreceding week. Supplies rose by 118 billion cubic feet in the same week last year, while the five-year average change is an increase of 92 billion cubic feet.Total U.S. natural gas storage stood at 2.233 trillion cubic feet as of last week, 50.7% higher than during the same week a year earlier and 1.0% above the five-year average for this time of year. Last spring, supplies were 55% below the five-year average, indicating producers have made up for all of last winter’sunusually strong demand. The EIA's next storage report slated for release on Thursday, June 4 is expected to show a build of approximately 110 billion cubic feetfor the week ending June 5. Technically market is getting support at 169 and below same could see a test of 164.9 level, And resistance is now likely to be seenat 175.8, a move above could see prices testing 178.5.

Market Snapshot

Naturalgas trading range for the day is 164.9-178.5.

Natural gas prices bounced as investors returned to the market to seek cheap valuations in wake of recent losses.

Since last week prices are under pressure as forecasts for mild weather across the US and concerns over ample supplies weighed.

Spring usually sees the weakest demand for natural gas in the U.S, as the absence of extreme temperatures curbs demand for heating and air conditioning.

BUY NAT GAS JUNE @ 170.50 SL 168.50 TGT 174.50-177.MCX

25 JUN 2015

MC

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MCX Crude oil

Crudeoil settled down -0.29% at 3731 dropped on views that Iran could add to the surplus in crude oil markets if trade sanctions are lifted and as China’s crudeoil imports fell in May. Prices outlook remain weak on concerns over a slump in demand from China and the after effects of the OPEC maintaining its currentproduction levels as concerns of supply glut persist. Chinese oil import dropped 11 percent to 23.24 million tons in May from a year ago, official data from theGeneral Administration of Customs showed Monday. Also Investors also await a slew of oil reports this week with the U.S. EIA slated to release its monthly short-term energy outlook on Tuesday, apart from its weekly oil inventory report due Wednesday. The Organization of the Oil Exporting Countries is also scheduled torelease its oil report on Wednesday, even as the International Energy Agency is set to release its oil report on Thursday. On Friday, crude oil jumped $1.13 onreports of further decline in U.S. rig counts and after the OPEC decided to maintain its current production levels even as concerns of a supply glut scenariopersisted. OPEC reaffirmed its crude oil output target of 30mb/d. Also In the week ahead, investors will be focusing on Thursday's U.S. retail sales report forMay, as well as Friday's consumer sentiment data, for fresh indications on the strength of the economy and the timing of a rate increase. Technically market isunder fresh selling as market has witnessed gain in open interest by 4.68% to settled at 11395 while prices down -11 rupee, now Crudeoil is getting support at3700 and below same could see a test of 3669 level, And resistance is now likely to be seen at 3780, a move above could see prices testing 3829.

Market Snapshot

Crudeoil trading range for the day is 3669-3829.

Crude oil on views that Iran could add to the surplus in crude oil markets if trade sanctions are lifted and as China’s crude oil imports fell in May.

China saw an 11% drop in oil imports in May compared with a year earlier, Chinese customs data showed, triggering a fall in global crude prices.

Oil production at the largest U.S. shale sites is forecast to drop for the third consecutive month in July even as rig productivity remains high.

BUY CRUDE OIL JUNE @ 3710 SL 3670 TGT 3756-3798.MCX

19 JUN 2015




Market Snapshot

Zinc trading range for the day is 135.8-138.6.

Zinc prices recovered from lows as dollar dropped after US government expressed that higher US dollar index impacted its economy growth

A slowdown in domestic demand indicated a recovery in the broader economy remains fragile and may need further government stimulus.

Zinc daily stocks at Shanghai exchange came down by 150 tonnes.

SELL ZINC JUNE @ 138.50 SL 140.00 TGT 137.40-136.20. MCX

2


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er

MCX Copper

Copper settled up 0.26% at 383.55 prices struggled near the lowest level in six weeks on Monday, after data showed that China's imports of the red metalslowed in May. Official trade data released Monday showed that China’s copper arrivals in May fell 16.3% from a month earlier to 360,000 metric tons. Thecountry’s trade surplus widened to $59.5 billion last month from $34.2 billion in April, compared to estimates for a surplus of $45.0 billion. Chinese exports fell2.5% from a year earlier, while imports tumbled 17.6%, worse than forecasts for a decline of 10.7%. A slowdown in domestic demand indicated a recovery inthe broader economy remains fragile and may need further government stimulus. China's economy grew at the slowest pace in six years in the first quarter,underling speculation policymakers will have to introduce further easing measures to jumpstart the economy amid lackluster growth. Since November, thePeople's Bank of China has introduced a series of stimulus measures, including lowering interest rates three times and cutting the reserve requirement ratios ofmajor banks twice, in order to spur economic activity and boost growth. While the upbeat data underlined the view that the economy is on track to rebound aftera weak first quarter and bolstered expectations that the Fed could start to hike interest rates at its September policy meeting. Meanwhile, developmentssurrounding talks between Greece and its international creditors remained in focus. Over the weekend European Commission President Jean-Claude Junckerurged Greek Prime Minister Alexis Tsipras to come up with alternative economic reforms "swiftly" so that negotiations could continue this week. Technicallymarket is getting support at 381.7 and below same could see a test of 379.9 level, And resistance is now likely to be seen at 384.9, a move above could seeprices testing 386.3.

Market Snapshot

Copper trading range for the day is 379.9-386.3.

Copper prices gained bolstered by a weaker dollar and expectations that top metals consumer China will unleash further stimulus measures.

Official trade data showed that China’s copper arrivals in May fell 16.3% from a month earlier to 360,000 metric tons.

China's imports of copper fell 16.3 percent from a month ago to 360,000 tonnes in May, data from the General Administration of Customs showed.

SELL COPPER JUNE @ 382-383 SL ABV 385.80 TGT 379.50-377-374.80. MCX (STBT)

MC

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inc

30 JUN 2015

30 JUN 2015MCX Zinc

Zinc settled up 0.15% at 137.3 as prices recovered from lows as dollar dropped after US government expressed that higher US dollar index impacted itseconomy growth. Utilization rate at major Chinese 45 zinc smelters is expected to stay high at 83-84% in June. Stable production at most smelters will allowhigh utilization rate. The rate, up to 83.08% in May, is mainly due to rising prices of zinc, high TCs and production resumption after unit maintenance. G7 leadershope that Greece will stay in the eurozone and pointed out global economic outlook improves. Falling energy prices will lend support to G7 economies, and willpush reform in the face of high unemployment rate. US also expressed the US dollar index is too high, which has affected their real economy, pushing up theeuro and weighing down the US dollar index. U.S. economic growth is showing further signs of weakening while a recovery is gaining traction in euro zonecountries such as France and Italy, the Organisation for Economic Co-operation and Development said. The OECD's monthly leading indicator, a measuredesigned to flag turning points in the international economy, showed dips for the United States and other key economies such as China and Brazil. The indicator,a synthetic index where 100 is the long-term average, remained at 100.7 in the euro zone but eased to 99.5 from March's 99.7 in the United States, havingfallen below 100 in February. Technically market is under fresh buying as market has witnessed gain in open interest by 1.96% to settled at 3892 while prices up0.2 rupee, now Zinc is getting support at 136.6 and below same could see a test of 135.8 level, And resistance is now likely to be seen at 138, a move abovecould see prices testing 138.6.


Open 3845High 3857Low 3716Close 3754% Cng -3OI 45330Volume 81440Resist 2 3917Resist 1 3836Support 1 3695Support 2 3635

2

NC

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Soy

abea

n

NCDEX Soyabean

Soyabean settled down by -3% at 3754 due to weak demand for the crop in export market from oil crusher. Prices of the bean will be under pressure after,Radha Mohan Singh, Agriculture Minister, said that the government is confident to tackle weak monsoon rains. Soybean prices will also be down after Skymet,the private weather forecasting agency, has predicted a promising monsoon for farmers in India, sticking to its stand that rains this year would be normal or102% of the long term average. United States Department of Agriculture reported that US soybean crop sales in the week the last week were nearly 4.8 millionbushels which missed forecasts and were down 60% from the period week. Soybean sowing in Maharashtra was recorded at 3.55 million hectares, a drop of320,000 hectares, against 3.87 million hectares, whereas, Rajasthan saw the highest drop of 19.3 per cent in soybean sowing at 854,000 hectares, as against1.05 million hectares during kharif 2013, according to SOPA. The U.S. soybean crush for 2015/16 is projected at 1,825 billion bushels, up 20 million from2014/15. U.S. soybean meal use is projected to increase 3.2%. Despite lower prices, soybean meal exports are projected to decline with increased exports fromSouth America and India. Soybean exports are projected at 1,775 million bushels, down 25 million from 2014/15 despite record supplies. At the Indore spotmarket in top producer MP, soybean dropped -101 rupee to 3834 rupee per 100 kgs.Technically market is under fresh selling as market has witnessed gain inopen interest by 6.13% to settled at 45330, now Soyabean is getting support at 3695 and below same could see a test of 3635 level, And resistance is now likelyto be seen at 3836, a move above could see prices testing 3917.

Market Snapshot

Soyabean trading range for the day is 3635-3917.

Soyabean prices ended with losses due to weak demand for the crop in export market from oil crusher.

Prices of the bean will be under pressure after, Agriculture Minister, said that the government is confident to tackle weak monsoon rains

The U.S. soybean crush for 2015/16 is projected at 1,825 billion bushels, up 20 million from 2014/15.

SELL SOYABEAN AUG @ 3790 SL 3830 TGT 3755-3710.NCDEX


MC

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MCX Mentha Oil

Mentha oil settled up by 1.84% at 962.1as prices found some support at the lower levels after the recent fall in prices. With an overall low production expectedprices seen supported. Stable export demand keeps trade sentiments firm. As per latest reports total of 14,400kgs of mentha oil with a price value of Rs.15,551,544 Mentha was exported on May 27th 2015. Similarly around 360 Kgs of organic mentha was exported to France Via Tuglakabad roughly a week back.Other export destinations of the product during last month were China, USA, South Korea, Taiwan, Canada, etc. The continuous decline of daily arrivals at thespot markets together with the active demand from mint consuming segments are mainly supporting the mentha oil prices. Following the rise in prices, farmersare not ready to sell their produce at this rate. Hence, they are restraining from selling in anticipation of further rise in prices. That might support mentha oilprices. The overall market factors are supportive for mentha oil prices. Farmers are preparing field for new crop in major regions of Uttar Pradesh, Bihar andHaryana. As per sources, this year Mentha acreage is likely to down by around 10-15% from last year in Uttar Pradesh. At Sambhal market estimated marketsupply was at 125 Drums(1-drum=180kg), up by 25 Drums(1-drum=180kg) from previous trading day. At Rampur market total arrivals are at 10 Drums(1-drum=180kg), unchanged as compared to previous day’s arrival. Technically market is under short covering as market has witnessed drop in open interest by -11.18% to settled at 5487 while prices up 17.4 rupee, now Menthaoil is getting support at 949.8 and below same could see a test of 937.4 level, And resistanceis now likely to be seen at 969.8, a move above could see prices testing 977.4.

Market Snapshot

Menthaoil trading range for the day is 937.4-977.4.

Menthaoil spot is at 1063/-. Spot market is up by Rs.13/-.

Mentha oil prices gained as prices found some support at the lower levels after the recent fall in prices.

With an overall low production expected prices seen supported.

BUY MENTHA OIL JUNE @ 952 SL 940 TGT 965-980.MCX

30 JUN 2015

20 AUG 2015



2

NC

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Jee

ra

NCDEX Jeera

Jeera settled down by -2.57% at 16690 on account of surge in supply from major producing regions in the midst of a decline in the export demand. Harvestinghas been affected on late rains in Rajasthan and overall output could suffer. According to a latest update from the Agriculture Ministry there has been an increasein the area under Rabi crop coverage that was affected by unseasonal rainfall and hailstorms from late February to early April. The revised figure on the basis ofState-wise data has more than doubled from the April 16 estimate of 93.82 lakh hectares (lh) and as stands at 189.81 lakh hectares (lh). The change is mainlybecause of the change in data with reference to Uttar Pradesh, Rajasthan and Bihar. At Unjha market in Mehsana arrivals were reported at 5000 quintals, downby 5000 quintals from previous trading day. At Rajkot market estimated market supply was at 300 quintal, down by 15 quintal from previous day’s arrivals.India's Jeera (cumin) exports are reaching a new high even as prices have moved up in the local markets following unseasonal rains and production shortage. Involume terms, the exports - at 128,500 tonne for nine months to December - have already overtaken the total exported quantity of jeera in FY14. In Unjha, akey spot market in Gujarat, jeera edged down by -280 rupees to end at 17700 rupee per 100 kg.Technically market is under fresh selling as market haswitnessed gain in open interest by 5.83% to settled at 27027 while prices down -440 rupee, now Jeera is getting support at 16380 and below same could see atest of 16070 level, And resistance is now likely to be seen at 17090, a move above could see prices testing 17490.

Market Snapshot

Jeera trading range for the day is 16070-17490.

Jeera prices dropped on account of surge in supply from major producing regions in the midst of a decline in the export demand.

Harvesting has been affected on late rains in Rajasthan and overall output could suffer.

NCDEX accredited warehouses jeera stocks dropped by 1946 tonnes to 18989 tonnes.

SELL JEERA JULY @ 16900 SL 17100 TGT 16780-16550.NCDEX

20 JUL 2015


NC

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Ch

ana

NCDEX Chana

Chana settled down by -0.87% at 4685 due limited demand from millers and stockiest. The arrivals in Delhi reported at 30 trucks as compared to 40-45 trucksaverage in the previous week. Reports of rains in some areas in Rajasthan and Gujarat pressurized the market sentiments as profit booking at the higher levelstoo enabled some fall in prices for Chana. IMD’s June forecast of below normal monsoon however could support prices pushed buying sentiments as it will havean adverse impact of the yields of Kharif season pulses, thereby increasing the likelihood of higher price level in major Rabi pulse like Chana. Timely Monsoonarrival would be beneficial for the sowing of Kharif Pulses. Rates for Chana and Masoor in Canada have risen in view of rising imports from India. India importsnearly 40% of its Pulses requirements from Canada. During first 11 month of 2014-15 (April 2014 to Feb 15), India imported total 51.61 lakh tons pulses. Out ofthat, 41% (21.48 lakh tons) has been obtained from Canada. In April, pulses import value has risen more than 48% to Rs 1,197.04 cr vs Rs 808.26 cr sameperiod last year. Indian consumption is ~23-24 million tons and a fall in production would raise imports. As per reports, Pulses imports could rise to 4.5-5 milliontons this year vs 3.65million tons in 2013-14. In Delhi spot market, chana dropped by -21.3 rupee to end at 4600 rupee per 100 kgs.Technically market isunder long liquidation as market has witnessed drop in open interest by -6.47% to settled at 166580 while prices down -41 rupee, now Chana is getting supportat 4641 and below same could see a test of 4598 level, And resistance is now likely to be seen at 4734, a move above could see prices testing 4784.

Market Snapshot

Chana trading range for the day is 4598-4784.

Chana prices dropped due limited demand from millers and stockiest.

Reports of rains in some areas in Rajasthan and Gujarat pressurized the market sentiments.

In Delhi spot market, chana dropped by -21.3 rupee to end at 4600 rupee per 100 kgs.

SELL CHANA JULY @ 4708 SL ABV 4756 TGT 4685-4656-4626. NCDEX (STBT)

20 JUL 2015

Commodity Ratio

72.69

7.18

69.86

9.88

96.10

21.54

0.89

Change Stock

-2825 312300

-408 469080

-1975 442525

-12450 3671500

-150 155775

0.80

3.20

MCX GOLD AUG-OCT 228.00

Crude Natural Gas ratio

MCX SILVER JUL-SEP 561.00

MCX CRUDEOIL JUN-JUL

MCX NICKEL JUN-JUL

0.65

MCX LEAD JUN-JUL

MCX ALUMINIUM JUN-JUL 1.75

Ratio Trading

Lead Zinc ratio

Silver Crude ratio

Silver Copper ratio

Gold Silver ratio

Gold Crude ratio

Gold Copper ratio

MCX NATURALGAS JUN-JUL 3.20

MCX ZINC JUN-JUL

Spread ViewCommodity Spread

53.00

Global natural gas use will rise at a slower pace than previously forecast amid lower-than-expected growth in Asian demand, said the InternationalEnergy Agency, cutting its outlook for a third consecutive year. Consumption will rise 2 percent annually in the six years through 2020, comparedwith last year’s estimate of 2.3 percent through 2019, the Paris-based agency said Thursday in its Medium-Term Gas Market Report. Usage indeveloping Asia excluding China will rise 2.9 percent annually, compared with a 2013 forecast of 3.9 percent for the six years to 2018. Rising gasprices in Asia spurred users to switch to cheaper fuels, the IEA said. Demand growth hasn’t rebounded even after prices for liquefied natural gas toNortheast Asia slumped 60 percent from a record in February last year. Global gas demand growth will increase after slowing in 2013 and 2014,supported by stronger economic growth and lower oil and gas prices, the IEA said. While the competitiveness of gas against other fuels in most ofdeveloping Asia remains uncertain, China’s push to reduce emissions should bolster demand for gas, it said. World gas demand will rise to 3.93trillion cubic meters (139 trillion cubic feet) in 2020 from 3.5 trillion in 2014, the IEA said. China’s gas use will climb 10 percent annually to 314billion cubic meters after slipping to a growth rate of 8 percent to 9 percent last year. Consumption in the rest of developing Asia is seen increasing to355 billion cubic meters in 2020 from 298 billion in 2014.

NCDEX TMCFGRNZM JUL-AUG 154.00

NCDEX CHILLI JUL-AUG 364.00

MCX CPO JUN-JUL 0.90

Commodity

Copper

News you can Use

China Customs reports China’s zinc concentrate imports in April were 233,000 mt, up 85.63% YoY, but down 1.69% MoM. YTD imports through Aprilwere 960,000 mt, up 42.37% YoY. SMM attributes this sharp YoY growth to high operating rates at domestic zinc smelters. The most recent SMMsurvey reveals the average operating rate at major domestic zinc smelters in April was 78.42%, up from the 72.54% during the same period lastyear. In addition, imported zinc concentrate held a price advantage over domestic concentrate. Profit from imported zinc concentrate was RMB450/mt (zinc content) higher than domestic zinc concentrate in March when importers placed orders, compared to the RMB 1,000/mt (zinc content)loss of the first during the same period last year. 48,000 mt of zinc concentrate imports were from bonded zone inventories (including pilot areaunder Customs supervision) in April. The number of zinc concentrate supplying countries increased 6 to 21 in April. Australia was the largest zincconcentrate supplying country, with imports up 31,000 MoM to 101,000 mt. Imports from Peru declined 46,000 mt to 59,000 mt. Imports fromMongolia grew 1,000 mt to 11,000 mt. Imports from Russia climbed 1,000 mt to 10,000 mt, with 9,000 mt from Burkina Faso and 8,000 mt fromSaudi Arabia. China Customs reports China imported 51,200 mt of zinc in April 2015, down 21% YoY, but up 25.2% MoM. YTD imports through Aprilwere 133,000 mt, down 49.3% YoY.

16.30

NCDEX RMSEED JUL-AUG 48.00

U.S. nonfarm productivity fell more sharply than initially thought in the first quarter, leading to a jump in labor-related production costs, a trend thatcould ignite inflation if sustained. Other data on Thursday showed the labor market tightening, with first-time applications for unemployment aidfalling slightly more than expected last week and the number of people on benefit rolls hitting the lowest level since 2000. The data likely keep theFederal Reserve on track to raise interest rates later this year. Productivity fell at a 3.1 percent annual rate instead of the previously reported 1.9percent pace, the Labor Department said. That was the first back-to-back fall in productivity since 2006. The productivity decline mirrors theeconomy's dismal performance in the first quarter, when output contracted at a 0.7 percent rate. Given that temporary factors contributed to thedecline in output, the drop in productivity could be overstated and a rebound is likely in the second half of the year. Still, weak productivity suggeststhat the economy's potential growth could be lower than the 1.5 percent to 2.0 percent pace economists currently estimate.

NCDEX CHARJDDEL JUL-AUG


2

MCX CARDAMOM JUL-AUG -13.70

NCDEX DHANIYA JUL-AUG 276.00

NCDEX JEERAUNJHA JUL-AUG 285.00

97.00

MCX MENTHAOIL JUN-JUL

Nickel

Zinc

Aluminium

Lead

NCDEX SYBEANIDR AUG-OCT -333.00

LME Stock (Tons)

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