’

Daily Commodity Market Update as on Friday, April 15, 2011

PRECIOUS METALS COMPLEX

NAME OPEN HIGH LOW CLOSE % CNG

MCX
GOLD 21300 21509 21291 21491 1
Bullion ended higher as dollar weakness, inflation worries
SILVER 59849 61578 59849 61504 3.04
and European debt crisis powered bullion to its biggest
SPOT $
one-day gain in about seven weeks.
GOLD 1477 1479.45 1472.15 1472.65 -0.19
SILVER 42.15 42.41 42.14 42.18 0.12
PLATINUM 1793.5 1795 1782 1789 -0.11

ENERGY COMPLEX

NAME OPEN HIGH LOW CLOSE % CNG

MCX
Crude ended higher supported by the dollar hovering at
CRUDE 4731 4835 4723 4805 1.42 16-month lows and no clear end to fighting in Libya that
N.GAS 184 190.3 181 189 1.69 has cut supplies from the OPEC nation. Natural gas
turned higher after the U.S. Energy Information
SPOT $ Administration said natural gas inventories rose less
less-
than-expected last week.
CRUDE 107.32 108.55 105.77 108.11 0.736116

BASEMETAL COMPLEX

NAME OPEN HIGH LOW CLOSE % CNG

MCX
Base metals eased y yesterdayy as reports
p of q g
quickening
COPPER 422 8
422.8 423 8
423.8 419 15
419.15 421 85
421.85 -0 3
-0.3
inflation in top consumer China pointed to more
ZINC 107.1 107.55 105.85 107.05 -0.79
monetary tightening, which investors worried would hit
NICKEL 1162.3 1171.4 1151.9 1161.7 -0.88 demand for industrial metals
LEAD 120.2 120.2 118 118.8 -1.98
ALUMINIUM 116.5 117.3 116.5 117.15 0.34

LME LME STOCK

COPPER 9465 9512 9425 9439.75 -0.03 COPPER 875 450800
ZINC 2412 2427 2407 2420 0.46 ZINC 26675 763725
NICKEL 26000 2673 26000 26140 0.62 NICKEL -876 121182
LEAD 2630 2663 2620 2644 0.57 LEAD 3450 283850
ALUMINIUM 2647.25 2663 2643.25 2658 0.53 ALUMINIUM -2075 4569125

GLOBAL MARKETS UPDATE

SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX
19619.47 5885.1 2311.25 1314.79 8374.16 12285.15 9589.4 3026.44 2130.71 23949.98 74.75
-0.39 -0.45 -0.23 0.03 0.08 0.12 -0.67 -0.53 -0.48 -0.27 0.09

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 OPEN
21300
HIGH
21509
FUTURE

LOW
21291
CLOSE
21491
% CNG
1
VOLUME
X GOLD F

21159
OI
10889
RE CNG
215

INTRADAY LEVELS
MCX

G ld rose 1 percentt as d
Gold dollar
ll weakness,
k iinflation
fl ti worries
i and
d E
European d
debt
bt crisis
i i powered
d b
bullion
lli PP
P.P. 21430
to its biggest one-day gain in about seven weeks. Gold received a boost from inflation worries SUP 1 RES 1
triggered by a crude oil rally and data showing rising U.S. core producer prices in March and as
21352 21570
higher-than-expected jobless claims knocked the dollar. The combination of higher oil prices,
weaker dollar and the resurrection of discussions of Greek sovereign risk problems has galvanized SUP 2 RES 2
the gold market. Now support for the gold MCX is seen at 21352 and below could see a test of 21212 21648
21212. Resistance is now likely to be seen at 21570, a move above could see prices testing 21648. SUP 3 RES 3
21134 21788

OPEN
59849
TURE

HIGH
61578
LOW
59849
LVER FUT

CLOSE
61504
% CNG
3.04
VOLUME
77829
OI
15124
MCX SIL

RE CNG
1872

INTRADAY LEVELS
Silver prices soared to their record high, rising more than 3 percent for their biggest one-day gain
since November, as strong investment and speculative buying sent the gold/silver ratio to a low. P.P. 60977
IShares Silver Trust said its holdings edged up to 10,974.26 tonnes by April 14 from 10,969.71 SUP 1 RES 1
tonnes on April 13. Cash silver climbed as much as 0.6 percent to $42.4225 an ounce today, the
60376 62105
highest level since 1980. The metal is the second-best performer over the past year on the UBS
Bloomberg CMCI Index,
Index lagging behind only cotton.
cotton Unrest in the Middle East and Japan
Japan’s
s nuclear SUP 2 RES 2
crisis have also bolstered sales this year as investors seek a store of value. Now support for the 59248 62706
silver is seen at 60376 and below could see a test of 59248. Resistance is now likely to be seen at SUP 3 RES 3
62105, a move above could see prices testing 62706.
58647 63834

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 OPEN
4731
HIGH
X CRUDE FUTURE
E

4835
LOW
4723
CLOSE
4805
% CNG
1.42
VOLUME
115390
OI
11917
RE CNG
68

INTRADAY LEVELS
MCX

Crude
C d ended
d d hi
higher
h supported t dbby th
the d
dollar
ll hhovering
i att 16
16-month
th llows and
d no clear
l end
d tto fi
fighting
hti PP
P.P. 4788
in Libya that has cut supplies from the OPEC nation . Saudi Shi'ites in the oil -producing east took to SUP 1 RES 1
the streets in protest , calling for the release of prisoners and an end to human rights violations .
4740 4852
Crude oil production in China , the world 's second largest oil consumer , rose 4.2 percent to 17.57
million tonnes in March from a year earlier , the National Bureau of Statistics said . Now support for SUP 2 RES 2
the crude is seen at 4740 and below could see a test of 4676. Resistance is now likely to be seen at 4676 4900
4852, a move above could see prices testing 4900. SUP 3 RES 3
4628 4964

OPEN
422.8
TURE

HIGH
423.8
LOW
419.15
PPER FUT

CLOSE
421.85
% CNG
-0.3
VOLUME
56708
OI
24909
MCX COP

RE CNG
-1.25

INTRADAY LEVELS
Copper fell, as reports of quickening inflation in top consumer China pointed to more monetary
tightening, which investors worried would hit demand for industrial metals. Also pressuring P.P. 421.6
industrial metals, U.S. equities fell after an unexpected rise in jobless claims and concerns about SUP 1 RES 1
higher inflation overseas. LME copper open interest has fallen more than 10 percent from its peak of
419.4 424.1
324,420 lots on Jan. 14 to 289,215 lots on Tuesday. In LME warehouses rose 875 tonnes to
450 800 tonnes,
450,800 tonnes data on Thursday showed.
showed Copper has touched a low of Rs 419.15
419 15 a kg after SUP 2 RES 2
opening at Rs 422.8, and last traded at Rs421.85.For today market is looking for the support at 417.0 426.3
419.4, a break below could see a test of 417 and where as resistance is now likely to be seen at SUP 3 RES 3
424.1, a move above could see prices testing 426.3.
414.8 428.7

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 OPEN
107.1
HIGH
107.55
FUTURE

LOW
105.85
CLOSE
107.05
% CNG
-0.79
VOLUME
CX ZINC F

13423
OI
7140
RE CNG
-0.85

INTRADAY LEVELS
Zinc yesterday
y y we have seen that market has moved -0.79% tracking g weakness in LME zinc
PP
P.P. 106
106.8
8
MC

prices. Soc. Minera El Brocal SA, a Peruvian zinc producer, said contract workers ended a
strike. LME zinc prices overnight fell to USD 2,377/mt, with prices paring some losses to close SUP 1 RES 1
at USD 2,409/mt, down USD 21.8/mt, below the 30-day moving average. Market has opened 106.1 107.8
at 107.1 & made a low of 105.85 versus the day high of 107.55. The total volume for the day SUP 2 RES 2
was at 13423 lots and the open interest was at 7140.Now support for the zinc is seen at 105.1 108.5
106.1 and below could see a test of 105.1. Resistance is now likely to be seen at 107.8, a
SUP 3 RES 3
move above could see prices testing 108.5.
104.4 109.5

OPEN
1162.3
TURE

HIGH
1171.4
LOW
1151.9
CKEL FUT

CLOSE
1161.7
% CNG
-0.88
VOLUME
28839
OI
9916
MCX NIC

RE CNG
-10.2

INTRADAY LEVELS

P.P. 1162
Nickel ended down due to lower-than-expected economic data and decline in the stock market. LME
nickel price performance was weak, with support at USD 26,000/mt. At present, prices moved SUP 1 RES 1
below all day moving averages, with great resistance above. Nickel has touched a low of Rs 1151.9 1152 1171
a kg after opening at Rs.1162.3, and last traded at Rs 1161.7.For today market is looking for the SUP 2 RES 2
support at 1151.9, a break below could see a test of 1142.2 and where as resistance is now likely to
1142 1181
be seen at 1171.4, a move above could see prices testing 1181.2.
SUP 3 RES 3
1132 1191

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 URE
OPEN
116.5
HIGH
ALUMINIUM FUTU

117.3
LOW
116.5
CLOSE
117.15
% CNG
0.34
VOLUME
2751
OI
1945
RE CNG
0.4

INTRADAY LEVELS
Japan s aluminium sector may see only relatively modest production disruptions from power
Japan's
MCX A

PP
P.P. 117
117.0
0
outages in eastern Japan after the earthquake, demand could shrink from key customers in harder-
hit sectors such as autos. Aluminum prices fluctuated narrowly around the 20-day moving average SUP 1 RES 1
last night. The weaker US dollar index boosted crude oil prices to above USD 108/bbl, and 116.7 117.5
aluminum prices finally closed at 117.15 supported by higher energy costs. Aluminium has touched SUP 2 RES 2
a low of Rs 116.5 a kg after opening at Rs 116.5, and last traded at Rs117.15.For today market is
116.2 117.8
looking for the support at 116.7, a break below could see a test of 116.2 and where as resistance is
now likely to be seen at 117.5, a move above could see prices testing 117.8. SUP 3 RES 3
115.9 118.3

OPEN
UTURE

184
HIGH
190.3
LOW
181
T.GAS FU

CLOSE
189
% CNG
1.69
VOLUME
37765
OI
11732
RE CNG
MCX NAT

3.2

INTRADAY LEVELS
Natural Gas yesterday we have seen that market has moved 1.69% after the U.S. Energy
Information Administration said natural gas inventories rose less-than-expected last week. The U.S. P.P. 186.8
Energy Information Administration said in its weekly report that natural gas storage in the U.S. in
the week ended April 8 rose by 28 billion cubic feet, after falling by 45 billion cubic feet in the
SUP 1 RES 1
preceding week. According to the data, total U.S. natural gas storage in the week ended April 1 183.2 192.5
M

stood at 1.607 trillion cubic feet. Stocks were 137 billion cubic feet less than last yyear at this time SUP 2 RES 2
and 10 billion cubic feet above the five-year average of 1.597 trillion cubic feet for this time of year. 177.5 196.1
Market has opened at 184 & made a low of 181 versus the day high of 190.3. The total volume for
SUP 3 RES 3
the day was at 37765 lots and the open interest was at 11732.Now support for the Natural Gas is
seen at 183.2 and below could see a test of 177.5. Resistance is now likely to be seen at 192.5, a 173.9 201.8

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 ACTIVE SPREAD UPDATE

DAILY SPREAD IN GOLD - MCX DAILY SPREAD IN SILVER - MCX

MONTH RATE JUNE AUG OCT MONTH RATE MAY JULY SEPT
JUNE 21491 296 609 MAY 61504 878 1812
AUG 21787 313 JULY 62382 934
OCT 22100 SEPT 63316
Spread between Gold JUN & AUG contracts yesterday Spread between Silver MAY & JUL contracts yesterday
ended at 296, we have seen yesterday that the gold ended at 878, we have seen yesterday that the silver
market had traded with a positive node and settled 1% market had traded with a positive node and settled
up. Spread yesterday traded in the range of 294 - 310. 3.04% up. Spread yesterday traded in the range of 856 -
878.

DAILY SPREAD IN CRUDE - MCX DAILY SPREAD IN COPPER - MCX

MONTH RATE APRIL MAY JUNE MONTH RATE APRIL JUNE
APRIL 4805 58 112 APRIL 421.85 6.95
MAY 4863 54 JUNE 428.8
JUNE 4917
Spread between crude MAR & APR contracts yesterday Spread between copper APR & JUN contracts yesterday
MARKET

ended at 58, we have seen yesterday that the crude ended at 6.95, we have seen yesterday that the copper
market had traded with a positive node and settled market had traded with a negative node and settled -
1.42% up. Spread yesterday traded in the range of 53 - 0.3% down. Spread yesterday traded in the range of
79. 5.45 - 6.95.

DAILY SPREAD IN ZINC - MCX DAILY SPREAD IN NICKEL - MCX

SPREAD M

MONTH RATE APRIL MAY MONTH RATE APRIL MAY

APRIL 107.05 1.35 APRIL 1161.7 10
MAY 108.4 MAY 1171.7

Spread between zinc APR & MAY contracts yesterday
ended at 1.35, we have seen yesterday that the zinc
market had traded with a negative node and settled -
0.79% down. Spread yesterday traded in the range of 1 -
1.35.
S
Spread between nickel APR & MAY contracts yesterday
ended at 10.00, we have seen yesterday that the nickel
market had traded with a negative node and settled -
0.88% down. Spread yesterday traded in the range of
10.00 - 20.2.

DAILY SPREAD IN NAT. GAS - MCX DAILY SPREAD IN MENTHOL - MCX

MONTH RATE APRIL MAY MONTH RATE APRIL MAY
APRIL 189 4.5 APRIL 1041 -43.1
MAY 193.5 MAY 997.9

Spread between natural gas APR & MAY contracts
yesterday ended at 4.50, we have seen yesterday that
the natural gas market had traded with a positive node
and settled 1.69% up. Spread yesterday traded in the
range of 4.3 - 6.1.
Spread between menthol oil APR & MAY contracts
yesterday ended at -43.10, we have seen yesterday that
the menthol oil market had traded with a positive node
and settled 0.16% up. Spread yesterday traded in the
range of -43.1 to -34.1.

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 DAY TIME CURRENCY DATA Forecast Previous
AL

1:30pm EUR Italian Trade Balance -4.36B -6.56B

ONOMICA

2:30pm EUR CPI y/y 0.026 0.026

2:30pm EUR Core CPI y/y 0.011 0.01
DATA

2:30pm EUR Trade Balance -3.4B -3.3B

6:00pm USD Core CPI m/m 0.002 0.002
6:00pm USD CPI m/m 0.005 0.005
Fri 6:00pm USD Empire State Manufacturing Index 17.1 17.5
6:30pm USD TIC Long-Term Purchases 59.4B 51.5B
6:45pm
p USD Capacity
p y Utilization Rate 0.775 0.77
ECO

6:45pm USD Industrial Production m/m 0.005 0

7:25pm USD Prelim UoM Consumer Sentiment 68.7 67.5
7:25pm USD Prelim UoM Inflation Expectations 0 0.046
All Day ALL G20 Meetings 0 0

Wheat procurement is lower by 76% so far this year at 9.15 lakh tonnes mainly because of delay in harvest in
Haryana. The government had procured 37.88 lakh tonnes in the same period last year, according to the latest data
of Food Corporation of India (FCI). Wheat procurement starts from the middle of March and picks up from April 1.
The process ends in June. Haryana, which had contributed 28% of the total procurement of 225 lakh tonnes in the
2010-11 marketing year (April-March), has procured only 44,012 tonnes till yesterday as against 20.25 lakh tonnes
in the same period last year. The sharp fall in procurement is because of delay in wheat harvesting in the state. As a
result, the arrival of crop in Haryana mandis so far has been only 44,569 tonnes as compared with 20.25 lakh
tonnes in the year-ago period. The procurement in Punjab, which procured the maximum 102 lakh tonnes last year,
has also not picked up yet. Only 1,435 tonnes have been procured so far compared with 6.08 lakh tonnes in the
corresponding period of last year. In Madhya Pradesh, wheat procurement has declined to 8.61 lakh tonnes so far
against 11.32 lakh tonnes in the year-ago period even though the state is paying Rs 100 per quintal more to farmers
SE

than the Centre's minimum support price (MSP) of Rs 1,120 per quintal. Arrivals of wheat in MP has also declined to
U CAN US

10 61 lakh tonnes till yesterday against 14.31

10.61 14 31 lakh tonnes in the review period.
period FCI and other state agencies have
procured 6,077 tonnes of wheat in Gujarat so far against 624 tonnes in the entire 2010-11 marketing year.

Last year's record prices have led to a higher turmeric production this year. With more land brought under the crop,
the production would be higher in the coming years too. The farmers who earned a high income last year are likely
to end the current year with less earnings. "There are around 50,000 farmers engaged in turmeric cultivation in
EWS YOU

E d b
Erode belt
l alone.
l Whil
While some new ffarmers h have movedd iinto the
h crop, the
h existing
i i ones hhave extended
d d ffarming
i to
more areas with prices shooting up last year," said leading turmeric trader RK Vishwanathan. According to the
figures available with Spices Board, the total area under turmeric is 1,94,358 hectare. In a year, there has been over
15% rise in acreage in Erode and Salem, the main growing regions of the spice, according to a senior official of
Spices Board. The production is predicted to be in the range of 65 to 70 lakh bags (each bag weighs 70-75 kg),
which is over 40% higher than the previous year.
NE

Indian call rates were steady on Wednesday as demand for cash remained high as banks secured funds in the first
week of the reporting fortnight. The two-day inter-bank cash rate was steady at 6.80/85 percent. "There are two
holidays this week so banks are covering their requirements fast. Government spending by way of subsidy has come
into the system but there have been outflows for the bond auction. Outflows of 120 billion rupees on Monday for
payment towards Friday's government bond auction has also increased demand for cash.
cash

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di P
Profit(es)
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l ( ) arising
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diti andd
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