Daily Metals and Energy Report, June 10 2013

7/28/2019 Daily Metals and Energy Report, June 10 2013

http://slidepdf.com/reader/full/daily-metals-and-energy-report-june-10-2013 1/6

Commodities Daily Report

International Commodities

Monday| June 10, 2013

www.angelcommodities.com

Content Overview

Precious Metals

Energy

Base Metals

Important 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 2000

MCX 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, completene

correctness. 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 who

part, by any recipient hereof for any purpose without prior permission from “Angel Commodities Broking (P) Ltd”. Your feedback is appreciated on [email protected]

Research Team

Reena Rohit

Chief Manager

Non-Agri Currencies and Commodities

[email protected]

(022) 2921 2000 Extn :6134

Anish Vyas

Research Analyst

[email protected]

(022) 2921 2000 Extn :6104







Overview

Chinese markets closed today on the eve of Dragon Boat Festival.

US Non-Farm Employment Change increased to 175,000 in May.

German Industrial Production rose by 1.8 percent in April.

US Unemployment Rate rose to 7.6 percent in last month.

Asian equities rise on US data and Japan’s GDP rises significantly,

boosting global sentiments.

US Non-Farm Employment Change increased by 26,000 to 175,000 in

May as against a rise of 149,000 in April. Unemployment Rate rose to 7.6

percent in last month from earlier increase of 7.5 percent a month ago.

China’s Trade Balance was at surplus of $20.4 billion in May as against a

previous surplus of $18.2 billion in April. Consumer Price Index (CPI)

declined to 2.1 percent in last month from rise of 2.4 percent in April.Producer Price Index (PPI) was at -2.9 percent in May as compared to -2.6

percent a month ago. Industrial Production grew at slower pace of 9.2

percent in May with respect to rise of 9.3 percent in April. Retail Sales

gained by 12.9 percent in prior month when compared to rise of 12.8

percent in April.

The US Dollar Index (DX) declined 2.1 percent in the last week on the

back of favorable economic data from the US. Further, rise in the US

equities also exerted downside pressure on the DX. The currency

ouched a weekly low of 81.065 and closed at 81.66 on Friday.

On a weekly basis, Indian Rupee depreciated 0.8 percent on account of

heavy dollar demand from oil importers coupled with weak domestic

markets.

Further, unfavorable manufacturing data from the country added

downside pressure on the Rupee. The currency touched a 12-month low

of 57.12 in the last week and closed at 57.05 against dollar on Friday.

For the month of June 2013, FII inflows totaled at Rs.117.70 crores

$20.91 million) as on 7th

June 2013. Year to date basis, net capital

nflows stood at Rs.83,322.80 crores ($15,373.90 million) till 7th June2013.

apan’s Current Account was at a surplus of 0.85 trillion Yen in April as

against a surplus of 0.34 trillion Yen a month ago. Final Gross Domestic

Product (GDP) rose to 1 percent in Q1 of 2013 from earlier increase of

0.9 percent in Q4 of 2012.

Market Highlights (% change) as on 7 June, 2013

Last Prev day w-o-w m-o-m

INR/$

(Spot)

57.05 -0.2 -0.8 -5.5

$/Euro

(Spot)

1.3222 -0.2 1.7 0.5

Dollar

Index

81.66 0.2 -2.1 -1.9

NIFTY 5881.0 -0.7 -1.8 -3.1

SENSEX 19429.2 -0.5 -1.7 -2.8

DJIA 15248.1 1.4 0.9 0.9

S&P 1643.4 1.3 0.8 1.1

Source:

The Euro appreciated 1.7 percent in the last week on the b

of weakness in the DX. Further, favorable economic data f

the region also supported an upside in the currency. The E

touched a weekly high of 1.3304 and closed at 1.3222 aga

the dollar on Friday.

German Trade Balance was at a surplus of 17.7 billion Euro

April as against a previous surplus of 17.6 billion Euros a mo

ago. French Gov Budget Balance was at a deficit of 66.8 bi

Euros in April from earlier deficit of 31 billion Euros in p

month. French Trade Balance remained unchanged at a de

of 4.5 billion Euros in the month of April. German Indus

Production rose by 1.8 percent in April with respect to prevrise of 1.2 percent in former month.







Market Highlights - Gold (% change) as on 7 June, 2013

Gold Unit LastPrev.

dayWoW MoM

Gold (Spot) $/oz 1383.9 -2.1 -0.2 -6.0

Gold (Spot -

Mumbai)

Rs/10

gms

27850.0 0.9 2.9 3.1

Gold

(LBMA-PM

Fix) $/oz 1386.0 -1.0 -0.6 -5.6

Comex Gold

(August’13)

$/oz 1383.0 -2.3 -2.0 -3.6

MCX Gold

(August’13)

Rs /10

gms

27532.0 -1.3 2.4 1.6

Source

Market Highlights - Silver (% change) as on 7 June, 2013

Silver Unit Last Prev day WoW MoM

Silver

(Spot)

$/oz 21.6 -4.2 -2.6 -9.4

Silver

(Spot -

Mumbai) Rs/1 kg 45500.0 0.4 0.6 -0.1

Silver

(LBMA) $/oz 2260.0 -0.1 0.1 -5.3

Comex

Silver

(July’13)

$/ oz 21.7 0.0 -4.3 -8.2

MCX Silver

(July’13) Rs / kg 43025.0 -3.3 -1.4 -4.2

Source

Technical Chart – Spot Gold

Source: T

ullion

old

ot gold prices declined marginally around 0.2 percent in the last

eek on the back of rise in risk appetite in the global markets which

d to fall in safe haven demand. Further, expectations of cut in themulus measures by the Fed also exerted downside pressure on

ices. The yellow metal touched a weekly low of $1377.29/oz and

osed at $1383.89/oz in last trading session of the week.

owever, sharp downside in prices was cushioned on account of

eakness in the DX.

the Indian markets, prices ended on a positive note, rising 2.4

rcent as a result of depreciation in the Indian Rupee and closed at

.27532/10 gms on Friday after touching a high of Rs. 28099/10 gms

the last week.

lver

king cues from fall in gold prices along with mixed performance in

se metals group, Spot silver prices declined by 2.6 percent in the last

eek. The white metal prices touched a weekly low of $21.51/oz and

osed at $21.64/oz in last trade of the week.

owever, sharp downside in prices was prevented as a result of

eakness in the DX.

n the domestic front, prices dropped 1.4 percent and closed at

.43,025/kg after touching a weekly low of Rs.42,933/kg.

utlook

today’s trade, gold and silver prices are expected to trade with

deways to upward bias on the back of upbeat global markets.

owever, strength in the DX will cap sharp gains in prices. Further, no

ajor economic data to be released would keep the prices to trade on

mixed note.

the Indian markets, depreciation in the Rupee will support an upside

prices.

chnical Outlook valid for June 10, 2013

Unit Support Resistance

pot Gold $/oz 1368/1354 1394/1409

MCX Gold Aug’13 Rs/10 gms 27270/27004 27683/27953

pot Silver $/oz 21.22/20.71 22.02/22.53

MCX Silver July’13 Rs/kg 42400/41805 43540/44150







Market Highlights - Crude Oil (% change) as on 7 June, 2013

Crude Oil Unit LastPrev.

dayWoW MoM

Brent

(Spot) $/bbl 104.3 0.7 3.5 -0.4

Nymex

Crude (July

’13)

$/bbl 96.0 1.3 4.4 0.0

ICE Brent

Crude

(July’13)

$/bbl 104.6 0.9 4.2 0.2

MCX Crude

(June ’13) Rs/bbl 5512.0 2.0 4.5 5.8

Source

Market Highlights - Natural Gas (% change) as on 7 June, 2013

NaturalGas (NG)

Unit Last Prev. day WoW MoM

Nymex

NG

$/mmbtu 3.823 -0.7 -4.02 -2.45

MCX NG

(June

’13)

Rs/

mmbtu

220 0.6 -3.38 3.33

Source

Technical Chart – NYMEX Crude Oil

Source: T

Technical Chart – NYMEX Natural Gas

Source: T

nergy

rude Oil

ymex crude oil prices increased around 4.4 percent in the last week,

king cues from more than expected decline in US crude oil

ventories. Further, weakness in the DX also supported an upside in oil

ices.

dditionally, favorable economic data from US and Euro Zone acted as a

ositive factor for prices. Crude oil prices touched a weekly high of

96.39/bbl and closed at $96.03/bbl on Friday.

n the domestic bourses, prices gained 4.5 percent and the commodity

osed at Rs.5,512/bbl, on Friday after touching a high of Rs.5,528/bbl in

e last week. Depreciation in the Rupee also acted as a positive factor

r oil prices on the MCX.

atural Gas

n a weekly basis, Nymex natural gas prices fell more than 4 percent on

e back of more than expected rise in US natural gas inventories.

rther, expectations of warm weather conditions exerted downside

essure on prices.

arp drop in prices was cushioned on account of weakness in the DX.

as prices touched a weekly low of $3.814/mmbtu and closed at

3.823/mmbtu in last trade of the week.

n the domestic front, prices plunged by 3.38 percent and closed at

.220.0/mmbtu on Friday after touching a low of $216.80/mmbtu ine last week. Depreciation in the Indian Rupee prevented sharp fall in

ices on the MCX.

utlook

om the intra-day perspective, we expect crude oil prices to trade

gher on the back of Sudan threatens to halts its exports. Further,

vorable jobs payrolls data from the US will also support an upside in

ices.

owever, sharp gains will be capped on account of strength in the DX. In

e Indian markets, depreciation in the Rupee will support an upside in

ices.

echnical Outlook valid for June 10, 2013

Unit Support Resistance

NYMEX Crude Oil $/bbl 95.45/94.50 97.20/98.10

MCX Crude June’13 Rs/bbl 5474/5420 5566/5620







ase Metals

e base metals pack traded on a mixed note yesterday in the last

eek on the back of expectations of cut in stimulus spending by Fed.

dditionally, rise in US unemployment rate added downside

essure.

owever, sharp downside in prices was cushioned on account of

eakness in the DX along with positive data from US and Euro Zone.

the Indian markets, depreciation in the Rupee prevented sharp fall.

opper

opper prices fell 0.6 percent in the last week on the back of

pectations that Fed will reduce its bond buying program. Further,

crease in Shanghai inventories and US unemployment rate added

ownside pressure. The red metal touched a weekly low of

221.0/tonne and closed at $7234.80/tonne in the last trade of theeek.

arp downside in prices was cushioned as a result of weakness in

e DX coupled with favourable economic data from US and Euro

ne.

n the domestic front, prices gained 0.4 percent as a result of

preciation in Rupee and closed at Rs. 414.70/kg, on Friday after

uching a weekly low of Rs 413.45/kg.

utlook

today’s session, we expect base metal prices to trade on a

deways to negative note on the back of strength in the DX. Further,

e in US unemployment rate and slow growth in China’s industrial

oduction will add downside pressure in prices. Less movement

ould be observed as Chinese markets closed today on eve of

agon Boat festival.

the Indian markets, Depreciation in the Rupee will prevent sharp

l in prices on the domestic bourses.

chnical Outlook valid for June 10, 2013 Unit Support Resistance

CX Copper June’13 Rs /kg 411.85/409.0 416.25/419.10

CX Zinc June ’13 Rs /kg 106.70/105.75 108.35/109.30

CX Lead June ’13 Rs /kg 122.75/121.80 124.30/125.20

CX Aluminum June’13 Rs /kg 108.60/107.80 110.0/110.80

CX Nickel June ’13 Rs /kg 855/845 870/877

Market Highlights - Base Metals (% change) as on 7 June, 2013

Unit Last Prev. day WoW MoM

LME Copper (3

month)

$/tonne 7234.8 -1.3 -0.6 -7.8

MCX Copper

(June’13)

Rs/kg 414.7 -0.5 0.4 2.6

LME Aluminum

(3 month)

$/tonne 1933.0 -1.5 1.6 1.3

MCX Aluminum

(June’13)

Rs /kg 109.4 -0.9 3.3 6.8

LME Nickel

(3 month)

$/tonne 14991.0 -0.4 1.1 -2.7

MCX Nickel

(June’13)

Rs /kg 862.4 0.7 4.1 3.6

LME Lead

(3 month)

$/tonne 2161.0 -1.6 -1.7 4.6

MCX Lead

(June’13)

Rs /kg 123.7 -1.0 -0.2 11.0

LME Zinc

(3 month)

$/tonne 1895.3 -2.0 -1.4 -0.1

MCX Zinc

(June’13)

Rs /kg 107.6 -1.2 1.2 5.7

Source

LME Inventories

Unit 7th

June 6th

June Actual

Change

Copper tonnes 609,875 610,375 -500

Aluminum tonnes 5,187,275 5,196,025 -8,750

Nickel tonnes 182,274 179,808 2,466

Zinc tonnes 1,110,150 1,082,050 28,100

Lead tonnes 205,225 207,750 -2,525

Source

Technical Chart – LME Copper

Source:






Important Events for Today

Indicator Country Time (IST) Actual Forecast Previous Impact

Current Account Japan 5:20am 0.85T 0.39T 0.34T High

Final GDP q/q Japan 5:20am 1.0% 0.9% 0.9% Medium

Bank Holiday China All Day - - - -

French Industrial Production m/m Euro 12:15pm - 0.2% -0.9% Medium

FOMC Member Bullard Speaks US 7:20pm - - - Medium

Date post:	03-Apr-2018
Category:	Documents
Upload:	angel-broking
View:	213 times
Download:	0 times

Daily Metals and Energy Report, June 10 2013

Documents