Daily commodity report_27_jan_2014 by epic research

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Transcript of Daily commodity report_27_jan_2014 by epic research

  • 1. DAILY COMMODITY REPORT 27th JANUARY 2014Our Presence Epic Research IndiaToll Free NumberMintara Road, Tarneit, Victoria. Post Code 30291-800-200-9454Phone.: +61 422 063855411 Milinda Manor (Suites 409- 417)HNI & NRI Sales Contact AustraliaAll queries should be directed to2 RNT Marg. Opp Cental Mall Indore (M.P.)Info@epicresearch.coHotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 YOUR MINTVISORYHNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315Call us at +91-731-6642300

2. DAILY MARKET WRAPUP 27th JANUARY 2014 COMMODITYCONTRACTOPEN PRICEHIGHLOWCLOSE PRICE%CHANGEOI (in lots)GOLD05 FEB 201429270.0029675.0029252.0029519.00+0.486892SILVER05 MAR 201444864.0045649.0044622.0044691.00-0.259351CRUDE19 FEB 20146091.009135.006059.006106.00-0.259413NATURAL GAS28 JAN 2014299.80319.90299.80318.80+5.5212911COPPER28 FEB 2014454.50458.15452.70455.50+0.439709NICKEL31 JAN 2014907.40913.60900.30906.60+0.024902LEAD31 JAN 2014133.45135.60132.45133.45+1.842422ZINC31 JAN 2014127.00127.20125.75126.20-0.281984ALUMINIUM31 JAN 2014107.55108.70107.15108.05+0.562094LME WAREHOUSE STOCKS (24 JAN- 2014) METALALUMINIUM-7325COPPER-425LEAD-375NICKEL2502TIN-70ZINC YOUR MINTVISORYTONNES IN STORAGE2900 Call us at +91-731-6642300 3. INTERNATIONAL MARKETS 27th JANUARY 2014PRECIOUS AND INDUSTRY METALS COMMODITYUNITSPRICECHANGE% CHANGECONTRACTCOMEX GOLDUSD/T OZ.1,264.50+2.00+0.16%APR 14GOLD SPOTUSD/T OZ.1,270.06+5.93+0.47%N/ACOMEX SILVERUSD/T OZ.19.77-0.25-1.22%MAR 14COMEX COPPERUSD/LB.327.150.000.00%MAR 14PLATINUM SPOTUSD/T OZ.1,428.75-28.13-1.93%N/ENERGY COMMODITY FUTURES COMMODITYUNITSPRICECHANGE% CHANGECONTRACTCRUDE OIL (WTI)USD/BBL.96.640.000.00%MAR 14CRUDE OIL (BRENT)USD/BBL.107.88+0.30+0.28%MAR 14RBOB GASOLINEUSD/GAL.266.320.000.00%FEB 14NYMEX NATURAL GASUSD/MMBTU5.18+0.45+9.56%FEB 14NYMEX HEATING OILUSD/GAL.313.740.000.00%FEB 14YOUR MINTVISORYCall us at +91-731-6642300 4. INTRADAY SUPPORT AND RESISTANCE 27th JANUARY 2014COMMODITYEXPIRYSUP.3SUP.2SUP.1PIVOTRES.1ALUMINIUM31-JAN105.75106.40106.95107.60108.15COPPER28-FEB444.50448.20451.00454.70457.50CRUDEOIL19-FEB59305967603460716138GOLD5-FEB2866028812290842923629508LEAD31-JAN129.38131.07131.98133.67134.58NATURALGAS28-JAN274.87282.93289.97298.03305.07NICKEL31-JAN871.4881.9893.6904.1915.8SILVER5-MAR4322043666442884473445356ZINC31-JAN123.73125.17125.93127.37128.1YOUR MINTVISORYCall us at +91-731-6642300 5. MOST ACTIVE CONTRACTS 27th JANUARY 2014SymbolExpiry DateLTPValue (In Lacs)Volume (In Lots)SILVERMICRO28-02-201444832.005,01,83,59,584.001,11,937NATURAL GAS28-01-2014313.402,78,62,513.6088,904CRUDE OIL19-02-20146086.0044,65,84,594.0073,379SILVER M28-02-201444830.002,39,06,04,580.0053,326SILVER05-03-201444796.001,23,28,75,512.0027,522COPPER28-02-2014455.751,18,28,991.2525,955LEADMINI31-01-2014135.3531,13,591.4023,004NICKEL31-01-2014905.601,80,92,076.8019,978COPPERMINI28-02-2014455.8590,74,605.9519,907GOLD M05-02-201429538.0056,56,23,162.0019,149YOUR MINTVISORYCall us at +91-731-6642300 6. TODAY,S COMMODITY NEWS 27th JANUARY 2014COMMODITY HEADLINES Chinese Gold Consumption Soars 32% In 2013.Global Gold Mine Supply Up 4% in 2013 .Gold rallies to 2-month high on safe-haven bids.Foodgrains and Sugar Prices Remain Steady at Wholesale Markets.Brent-WTI Crude Oil narrows to $10/bbl, WTI to rise on increasing refining margins.Gold extends gains for second day on sustained buying, global cues.Commodity exchanges' turnover falls 59 per cent in first half of January.Gold miners' reserve cuts: Near-term pain, long-term gain.Sugar prices fall 30% in a year to touch lowest in 5 years.Gold premiums fall on import curbs ease speculation.Nickel moves up on rising spot demand.Coffee sector likely to get Rs 950 cr, a boost for R&D.Oil prices supported by dip in US distillate supplies.Pre-2005 notes being used to buy gold at 2-4% commission.MCX Goldpetal March contract gains.MCX Goldguinea February contract trades flat.YOUR MINTVISORYCall us at +91-731-6642300 7. COMMODITY BUZZ AND ECONOMIC EVENTS 27th JANUARY 2014COMMODITY BUZZ :SPECIAL NEWS : Japan's trade deficit unexpectedly widened in December, with exports growing less than forecast. Exports rose 15.3% from a year earlier, while imports grew by 24.7% from December 2012. The resulting trade deficit was 1.302 trillion yen ($12.8 billion), widening from 1.293 trillion. The deficit was the 18th in a row for Japan.Mongolia will cut the gold mining tax to reduce illegal gold mining and smuggling and to boost state control of gold trade. According to a revision of the minerals law passed by parliament on Friday, the gold mining tax is reduced from 10% to 2.5% for gold mining companies that sell their mined gold to the central bank or its accredited commercial banks.The HSBC China flash Purchasing Managers Index (PMI) data and US Markit PMI has been below consensus but business confidence is set to be positive in January. Fed tapering has been initiated on recovery signals in US economy which should augur well for commodities demand.Commodities continue to underperform despite some positive trends in global economy due to extended period of supply gains, according to Barclays Research. Commodities have been underperforming equities and pricing in below levels unwarranted by the uptick in industrial production, manufacturing indices and the business sentiment indicators.Rabi sowing is drawing to a close and the area under rabi crops is showing good increase. The total rabi sown area, as per reports received from States, during the week ending 24.1.2014 stands at 635.13 lakh hectare as compared to 603.39 lakh hectare at this time last year- up 5.26%.WTI Crude Oil spreads have fallen in the past few days to $10 per barrel, a level last seen in December. Barclays Research points out that strong US refining margins and low product stock cover in the OECD could push WTI prices even higher in the coming weeks as the US continues exporting high levels of light products.YOUR MINTVISORYCall us at +91-731-6642300 8. EPIC RESEARCH ANALYST SPEAKS 27th JANUARY 2014SILVER MCX:Apart from Gold, MCX Silver was less bullish on Friday, weak currency helped price to rise up to 45650, But a sharp fall seen due to profit booking at higher level, Overall trend was bearish still, we expect price can correct up to 44500-44000, on the other side a firm recovery is possible only above 45850. BUY SILVER ABOVE 45000 TGTS 45200/45500 SL 44750 SELL SILVER BELOW 44500 TGTS 44300/44000 SL 45750YOUR MINTVISORYCall us at +91-731-6642300 9. EPIC RESEARCH ANALYST SPEAKS 27th JANUARY 2014GOLD MCX:MCX Gold climb higher to 29675 level on Friday due to weak Indian currency, although profit booking at higher level cap the increasing price. For Monday trend remains mixed and is expected to trade sideways to higher towards 29750 levels in near term, On the other side failed to trade above 29500 get price down to 29200-29000 level. BUY GOLD ABOVE 29650 TGTS 29730/29830 SL 29550 SELL GOLD BELOW 29400 TGTS 29320/29220 SL 29500YOUR MINTVISORYCall us at +91-731-6642300 10. EPIC RESEARCH ANALYST SPEAKS 27th JANUARY 2014CASTORSEEDRESISTANCE 14119.7RESISTANCE 24162.3PIVOT4055.3SUPPORT 14012.7SUPPORT 23948.3Castor Seed market trades under pressure due to higher production than previous estimate. Area under castor seed has decreased this year from11.81 lakh ha. to 9.84 lakh ha., however, yield has improved significantly from 96. BUY CASTORSEED FEB ABOVE 4130 TGTS 4160,4210 SL 4080 SELL CASTORSEED FEB BELOW 4030 TGTS 4000,3950 SL 4080YOUR MINTVISORYCall us at +91-731-6642300 11. EPIC RESEARCH ANALYST SPEAKS 27th JANUARY 2014DHANIYARESISTANCE 18600.7RESISTANCE 28654.3PIVOT8543.3SUPPORT 18489.7SUPPORT 28432.3Bearish trend continued in coriander futures on the back of strong production estimates in major producing states along with higher carryover stocks in local mandies. The NCDEX futures declined by almost 4% from their weekly highs. The NCDEX April coriander futures declined by 0.57% on Friday to close at Rs 9236 per quintal. The NCDEX futures shrugged off by almost 4% from their weekly high of Rs 9569 per quintal. The NCDEX futures reduced 2.2% in open interest indicating fresh selling by traders. BUY DHANIYA FEB ABOVE 8590 TGTS 8620,8670 SL 8540 SELL DHANIYA FEB BELOW 8480 TGTS 8450,8400 SL 8530YOUR MINTVISORYCall us at +91-731-6642300 12. TODAYS ECONOMIC EVENTS 27th JANUARY 2014TIMECOUNTRYEVENTACTUAL FORECAST PREVIOUSMONDAY, JANUARY 27 05:20JPYTRADE BALANCE-1,223B-1,293B14:30EURGERMAN BUSINESS EXPECTATIONS108.0107.414:30EURGERMAN CURRENT ASSESSMENT112.4111.614:30EURGERMAN IFO BUSINESS CLIMATE INDEX110.0109.520:30USDNEW HOME SALES457K464K20:30USDNEW HOME SALES (MOM)YOUR MINTVISORY-2.1%Call us at +91-731-6642300 13. DISCLAIMER 27th JANUARY 2014 The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.The share price projections shown are not necessarily indicative of future price performance. The informatio