Commodities Weekly Tracker 6th May 2013

7/30/2019 Commodities Weekly Tracker 6th May 2013

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Commodities & Currencies

Weekly Tracker


2/19

Commodities Weekly TrackerContents

Returns

Non Agri Commodities Currencies

Agri Commodities

Non-Agri Commodities

Gold

Silver

Copper Crude Oil

Currencies DX, Euro, INR

Agri Commodities

Chana

Black Pepper Turmeric

Jeera

Soybean

Refine Soy Oil & CPO

Sugar

Kapas

Monday | May 6, 2013


3/19

Commodities Weekly TrackerMonday | May 6, 2013

1.0

0.7 0.6

(0.5) (0.5) (0.5)

(1.1)

(2.0)(2.1)

(1.6)

(1.1)

(0.6)

(0.1)

0.4

0.9

Currencies Weekly Performance


4/19


3.6

2.8

0.8 0.80.5 0.4 0.2

(0.2)

(2.4)(2.5)

(1.5)

(0.5)

0.5

1.5

2.5

3.5

Non-Agri Commodities Weekly Performance


5/19

*Weekly Performance for May contract, Chilli June Contract



6/19


GoldWeekly Price Performance

Spot gold prices increased around 0.5 percent in the last week. The yellow metal

touched a weekly high of $1487.8/oz and closed at $1470.20/oz in last trading session

of the week. In the Indian markets, prices declined by 0.9 percent on account of appreciation in the

Indian Rupee and closed at Rs.26825/10 gms on Friday after touching a weekly low of

Rs. 26365/10 gms.

ETF Performance

Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded

fund, declined by 1.6 percent to 1,065.61 tonnes as on 3rd May 2013 from previous

level of 1,083.05 tonnes as on 26th April 2013.

Factors that influenced upside in gold prices Rise in risk appetite in the global market sentiments

Weakness in the DX.

Favorable economic data from US and Euro Zone.

Further, European central bank (ECB) slashed interest rates to 0.5 percent supported

prices.

Outlook

In the coming week, we expect gold prices to trade on a positive note as a result of

upbeat global market sentiments coupled with weakness in the DX. Further,expectations of favorable economic data from major global economies will support an

upside in the prices. Additionally, decline in US unemployment rate in last week will

act as a positive factor for the prices.

Appreciation in the Indian Rupee will cap gains in the prices on the MCX.

Weekly Technical Levels

Spot Gold : Support 1,465/1,440 Resistance 1,492/1514. (CMP: $1477.20)

Buy MCX Gold June between 26,820-26,780, SL-26,600, Target- 27,400.(CMP:

Rs.27,089)

1,350

1,400

1,450

1,500

1,550

1,600

1,650

1,700

1,750

1,800

25,500

26,500

27,500

28,500

29,500

30,500

31,500

MCX and Comex Gold Price Performance

MCX-Near Month Gold Futures -Rs/10 gms Comex Gold Futures -$/oz

79.0

79.5

80.0

80.5

81.0

81.5

82.0

82.5

83.0

83.5

84.0

1,350

1,400

1,450

1,500

1,550

1,600

1,650

1,700

Spot Gold Vs US Dollar Index

Spot Gol d -$/oz US Dol lar Inde x


7/19


SilverWeekly Price Performance

Spot silver gained 0.4 percent in the last week. The white metal prices

touched a high of $24.58/oz in the last week and closed at $24.07/oz in last

trade of the week.

On the domestic front, prices fell by 0.1 percent as a result of appreciation

in the Indian Rupee and closed at Rs.44776/kg on Friday after touching a

low of Rs.43172/kg in the last week.

ETF Performance

Holdings in the iShares Silver Trust, the world's largest silver-backed

exchange-traded fund, gained by 0.37 percent to 10,431.39 tonnes as on

3rd May 2013 from previous level of 10,392.42 tonnes as on 26th April

2013 .Factors that influenced upside in silver prices

Rise in gold prices

Upside in the base metals.

Further, favorable economic data from major global economies supported

an upside in the prices.

Optimistic global market sentiments coupled with weakness in the DX .

Outlook

In the coming week, we expect silver prices to trade higher taking cuesfrom rise in the gold prices coupled with upside in the base metals

complex.

Further, expectations of favorable economic data from major global

economies will support an upside in the prices.



Spot Silver: Support 23.95/23.30 Resistance 24.70/25.34. (CMP:24.24)

Buy MCX Silver July between 45,000-44,900, SL-44,100, Target -46,400.

(CMP:45,371)

22

24

26

28

30

32

42,000

44,000

46,000

48,000

50,000

52,000

54,000

56,000

58,000

60,000

MCX and Comex Silver Price Performance

MCX-Near Month Silver Futures -Rs/ kg Comex Silver Futures -$/oz

79.0

79.5

80.0

80.5

81.0

81.582.0

82.5

83.0

83.5

84.0

22.0

24.0

26.0

28.0

30.0

32.0

Spot Silver Vs US Dollar Index

Spot Si lver -$/ oz US Dol lar Inde x


8/19


CopperWeekly Price Performance

Copper prices increased by 3.6 percent in the previous week. The red metal

touched a weekly high of $7306.5/tonne and closed at $7290/tonne in the last

trading session of the week.

On the domestic front, prices ended on positive note by 3.4 percent and closed at

Rs. 395.30/kg on Friday after touching a high of Rs. 395.9/kg in the last week.

Appreciation in the Indian Rupee capped sharp gains in the prices on the MCX.

Copper Inventories

LME copper inventories declined around 1.76 percent in the last week and stood

at 608,700 tonnes as on 3rd May, 2013 as against 619,600 tonnes as on 26th April,

2013 .

Copper inventories in the warehouse monitored by the Shanghai fell by 1.6percent and stood at 213,782 tonnes for the week ending on 3rd May, 2013.

Factors that influenced upside in the copper prices

Rise in risk appetite in the global market sentiments coupled with weakness in the

DX. Further, favorable unemployment rate and consumer sentiment data from US

supported an upside in the prices.

Additionally, decline in LME and Shanghai copper inventories acted as a positive

factor for the prices.

Outlook

Copper prices are expected to trade on a positive note on the back of optimistic

global markets coupled with weakness in the DX.

Additionally, decline in LME and Shanghai inventories along with expectations of

favorable economic data from the major global economies will support an upside

in the prices.



LME Copper: Support 7125/6944 Resistance 7471/7652. (CMP: $7290)

Buy MCX Copper June between 387-385, SL-380, Target -405. (CMP:397.30)

365

375

385

395

405

415

425

435

445

455

6,800

7,000

7,200

7,400

7,600

7,800

8,000

8,200

8,400

LME and MCX Copper Price Performance

LME Copper Future ($/tonne) MCX Near Month Copper Contract (Rs/kg)

6,800

7,000

7,200

7,4007,600

7,800

8,000

8,200

8,400

318,000

368,000

418,000

468,000

518,000

568,000

618,000

LME Copper v/s LME Inventory

Copper LME Inventory (tonnes) LME Copper Future ($/tonne)


9/19


Crude OilWeekly Price Performance

On a weekly basis, Nymex crude oil prices increased around 2.8 percent.

On the domestic bourses, prices gained by 1.6 percent and closed at

Rs.5,156/bbl on Friday after touching a high of Rs.5168/bbl in the last week.Appreciation in the Indian Rupee prevented sharp upside in the prices on theMCX.

US Energy Department Facts and Figures

As per the US Energy Department (EIA) report, US crude oil inventoriesincreased more than expectations by 6.7 million barrels to 395.30 millionbarrels for the week ending on 26th April 2013. Crude oil inventories are at thehighest level in last 82 years.

Gasoline stocks fell by 1.8 million barrels to 216.0 million barrels and whereasdistillate stockpiles rose by 0.5 million barrels to 115.80 million barrels for thelast week.

Factors that influenced upside in crude oil prices Unexpected decline in US unemployment rate which led to expectations of rise

in demand for the fuel. Further, decline in the Brent crude oil performance ledto fall in the spread between WTI and Brent which supported an upside in thecrude oil prices.

Additionally, rise in US consumer sentiments coupled with weakness in the DXacted as a positive factor for the prices.

However, sharp upside in the prices was capped on account of increase in EuroZone unemployment rate along with decline in manufacturing data from Chinaand US.

Outlook

We expect crude oil prices to trade on positive note on the back ofexpectations of favorable economic data from the major economies.

Further, weakness in the DX, upbeat global market sentiments along with dropin spread between Nymex and WTI will support an upside in the prices.

However, sharp upside will be capped as a result of rising US crude oilinventories.



Nymex Crude Oil: Support: 93.90/91.80 Resistance 97.70/99.85 (CMP:96.49)

Buy MCX Crude May between 5070-5050, SL-5000, Target -5250.(CMP:5198)

86.0

88.0

90.0

92.0

94.0

96.0

98.0

4,700

4,800

4,900

5,000

5,100

5,200

5,300

5,400

Nymex and MCX Crude Oil Price Performance

MCX crude oil (Rs/bbl) NYMEX Crude Oil ($/bbl)

361.3

360.3

363.1369.1

371.7

372.2

376.4

377.53

381.4

384

382.7

385.9

388.6 388.9

387.6

388.6

395.3

360

365

370

375

380

385

390

395

400

Crude Oil Inventories (mn barrels)


10/19


DX/ INRWeekly Price Performance

US Dollar Index (DX) declined around 0.5 percent in the last week.

The Indian Rupee appreciated by more than 1 percent on weekly basis.

Factors that influenced downside movement in the DX

Optimistic global market sentiments which led to fall in demand for the low yielding

currency.

Further, decline in US unemployment rate coupled with rise in consumer sentiments

and non-farm employment change data acted as a negative factor for the currency.

Additionally, US equities traded on a positive note which exerted downside pressure in

the DX.

Factors that influenced movement in the Rupee

Cut in the repo and reverse repo rates by the central banks of the country. Further, selling of dollars from exporters and custodian banks also supported an upside

in the currency.

Additionally, upbeat global and domestic market sentiments coupled with weakness in

the DX acted as positive factor for the Indian Rupee.

FII Inflows

For the month of April 2013, FII inflows totaled at Rs.2,606.30 crores ($483.38 million)

as on 3rd May 2013. Year to date basis, net capital inflows stood at Rs.63,642.70 crores

($11,793.70 million) till 3rd May 2013.

Outlook We expect Indian Rupee to appreciate in the current week on back of expectations of

favorable industrial production and manufacturing output data from the country.

Additionally, weakness in the DX coupled with rise in risk appetite in the global and

domestic market sentiments will support an upside in the currency. However, sharp

upside in the currency will be capped as a result of expectations of deficit in trade

balance data of the country.


USD/INR MCX May Support 53.70/53.40 Resistance 54.40/54.80. (CMP: 54.0)

US Dollar Index: Support 81.50/80.90 Resistance 82.60/83.20. (CMP: 82.07)

79.0

79.5

80.0

80.5

81.0

81.5

82.0

82.5

83.0

83.5

US Dollar Index

53.0

53.5

54.0

54.5

55.0

55.5

56.0

$/INR - Spot


11/19


EuroWeekly Price Performance

The Euro appreciated by 0.7 percent in the last week. The Euro touched a

weekly high of 1.3242 and closed at 1.3113 against dollar on Friday.

Factors that influenced upside movement in the Euro

European Central Bank (ECB) cutting the interest rates by 25 bps coupled with

statement from ECB President signaling that bank is ready for negative deposits

rate.

Further, favorable economic data from the region, upbeat global market

sentiments along with weakness in the DX supported an upside in the currency.

However, rise in the Euro Zone unemployment rate capped sharp gains in the

Euro.

News Spanish Manufacturing Purchasing Managers' Index (PMI) increased by 0.5

points to 44.7-mark in April as against a rise of 44.2-level in March. Italian

Manufacturing PMI rose by 1 point to 45.5-level in April from earlier rise of 44.5-

mark a month ago.

European Minimum Bid Rate cut to 0.5 percent in May from earlier 0.75 percent

in April. German Retail Sales declined by 0.3 percent in March as against a fall of

0.6 percent a month ago. Spanish Flash Gross Domestic Product (GDP) declined

by 0.5 percent in last month with respect to earlier fall of 0.8 percent in

February. Unemployment Rate grew by 12.1 percent in March as compared torise of 12 percent a month ago.

Outlook

We expect the Euro to trade on positive note on the back of rise in risk appetite

in the global market sentiments coupled with weakness in the DX. Further, cut in

the interest rates by the European Central Banks (ECB) along with expectations

of favorable economic data from the region will support an upside in currency.


EURO/USD SPOT: Support 1.296/1.285 Resistance 1.325/1.340. (CMP: 1.3107)

1.275

1.285

1.295

1.305

1.315

1.325

1.335

1.345

1.355

1.365

Euro/$ - Spot

69.0

69.5

70.0

70.5

71.0

71.5

72.0

72.5

73.0

EURO/INR - Spot


12/19

Chana


Weekly Price Performance

Chana prices declined for the second consecutive week on account of increasing

arrivals & subdued demand at higher levels.

Chana spot as well as May futures settled 3.14% & 3.48% lower w-o-w.

Rising inflows at higher levels

Higher prices since the beginning of the month has led to a significant increase in

arrivals last week which dragged prices lower.

Chana output revised marginally down- Third Advance Estimates

According to the third advance estimates released last week, Chana output is

pegged marginally lower to 8.49 mn tn compared with its second advance

estimates of 8.57 million tonnes. Chana output is expected to breach its 2010-11

record of 8.2 mn tn in 2012-13.Seasonal pressure to keep prices under downside pressure

Chana prices tend to follow a seasonality pattern, wherein prices decline during

the harvesting period and bottom out when arrivals reach their peak in the

month of May. Thus, we expect the current downward trend to continue till the

month end.

World pulses market well-balanced

At the International Pulse Trade and Industries Confederation annual

convention, chick pea (desi), production is pegged up at 9.7 mt from 9.4 mt. in

2012-13 following a huge spurt in Pakistan crop.

Outlook

Downward trend in Chana is expected to continue on the back of increasing

arrivals. However, on the downside prices may not sustain below Rs 3200 per qtl

mark, the level being a Minimum Support price, below which farmers may not

sell their produce. Also stockiest demand may emerge at such low levels and

thus we may see a recovery in the Chana prices June onwards.

Weekly Strategy

Sell NCDEX CHANA June between 3530-3570, SL -3680, Target - 3360 / 3330


13/19

Turmeric

Source: Agriwatch & Reuters

Commodities Weekly Tracker


Turmeric Futures remained in the negative territory for the third consecutive

week on account of higher arrivals of the new crop coupled with huge carryover

stocks. However, buying by stockists as well as demand from interstate buyers,

supported prices at lower levels. Lower output expectations for 2012-13 crop on

the back of poor sowing also supported the prices. Sowing is reported to be 30-

35% lower compared to last year.

According to the weather department, rainfall in the key grown region (Southern

Peninsula) is reported at 10% below normal. The spot as well as the futures

settled 4.9% and 0.32% lower w-o-w.

Weak exports data

Turmeric exports during Apr-Jan 2013 declined by 4% to 66,550 tn.(Source Factiva)

Lower acreage of Turmeric for the 2012-13 season

Production of turmeric may decline in 2012-2013 season due to weak monsoon as

well as lower turmeric prices. The area covered under Turmeric in A.P. as on 10th

October, 2012 has been reported at 0.58 lakh hectares. The area covered is lower

as compared to last year (0.81 lha), as well as normal as on date (0.67 lha).

Lower production in the 2012-2013 season

Turmeric production in 2012-13 is expected around 50% lower compared to last

year and is expected around 45-50 lakh bags. Production in 2011-12 is reported

at historical high of 90 lakh bags/ 10.62 lakh tns.

Outlook

Turmeric may is expected to trade with a negative bias in the coming week as

higher arrivals of the new crop may pressurize prices. Huge carryover stocks may

also pressurize prices. However, good demand from the overseas as well as the

domestic markets may support prices at lower levels. Lower production estimates

coupled with arrivals of good quality crop may also support prices at lower levels.

Weekly Strategy

Sell NCDEX Turmeric June between 6450-6500, SL -6800, Target - 6000 / 5940.


Source: Reuters & Angel Research.


14/19

Jeera

Source: Ministry of Agriculture, Gujarat.

Commodities Weekly Tracker


After declining over the last two weeks, Jeera recovered from lower levels last

week on account of short coverings. The pace of arrivals of the fresh crop have

also declined from its peak last month. Prices had declined earlier due to higher

output estimates. Sowing in Gujarat was reported at 3.244 lk ha till Jan 2013. Last

3 years average sowing is 3.189 lk ha. Stocks are reported at around 5-6 lk bags.

The spot as well as the futures settled 1.02% and 2.23% lower w-o-w.

Second consecutive year of higher output

Indias 2013 Jeera output is estimated at 38-40 lakh bags (of 55kgs each), at par

with the production in 2012. However, increase in the exports due to supply

concerns in the global markets offset the impact of higher supplies on the prices

and thus, medium term fundamentals remain supportive for the upside.Global supply concerns boost Jeera exports

Jeera exports during Apr-Jan 2013 stood at 64,400 tn, higher by 86%. (Source Factiva)

Due to lower production in Syria and Turkey, coupled with the ongoing tensions

between them, exports are not taking place and have been diverted to India. They

have stopped shipments. Turkey may start offering its Jeera in the coming days.

International Scenario

According to reports, production in Syria is reported around 22,000 tonnes while

production in Turkey is reported between 5000-7000 tonnes, lower by 20% and

around 50% respectively, raising supply concerns in the international markets.

Indian Jeera in the international market is being offered at $2,600/tn (c&f).

Outlook

Jeera may continue to decline till no fresh overseas demand is seen. However,

prices may recover later in the week if there is any improvement in the domestic

as well as overseas demand. Farmers may also be unwilling to sell their stocks at

lower levels and may hold back their stocks.

Weekly Levels Sell NCDEX Jeera June between 13150-13200, SL -13650, Target - 12480 / 12400.


Source: Reuters & Angel Research.


15/19

Soybean


Weekly price performance

NCDEX Soybean traded in a range bound manner with some negative bias last week.

Imposition of special cash margin coupled with Weak meal export demand

pressurized prices while poor supplies supported prices at lower levels. IMD has alsoforecast a normal monsoon this. The futures settled 0.36% lower w-o-w.

CBOT Soybean gained 1.69% on account of tight supplies of the old US crop.

India's soy meal Exports Fall by 68 Percent during FY12-13 SEA

Indias soy meal exports for the month of April 2013 were 99.451 tonnes, lower by

68.31 percent from 313,832 tonnes a year ago.

Increase in the output in the 3rd Advance Estimates

As per the 3rd Advance Estimates released by the Ministry of Agriculture, soybean

output increased to 14.14 mn tn from 12.24 mn tn in the previous estimates.Imposition of Special margin long on Soybean and Soy meal

Special Margin (in Cash) of 10% on the Long side has been imposed in Soybean and

Soy meal May 2013, June 2013 & July 2013 contracts wef April 30, 2013.

USDA to release its monthly crop report on 10th May

USDA is scheduled to release its monthly crop report. According to market

estimates, the ending stocks are expected to decline.

A jump in Brazil exports

According to the Trade Ministry of Brazil, soybean exports shot up from 3.54 mntonnes in March to 7.15 mn tonnes in April 2013.

Outlook

Poor supplies in the domestic and US markets may support soybean prices in the

current week. Traders also anticipate the USDA monthly report to lower their

soybean ending stocks. However, higher long side margin, normal monsoon forecast,

and weak soy meal exports from India may exert downside pressure at higher levels.

Strategy

Buy NCDEX Soybean June between 3820-3860, SL -3680, Target - 4070 / 4100.


16/19

Refine Soy Oil and Crude Palm Oil


Weekly price performance

Edible oil complex remained in the negative territory taking cues from the

palm oil futures at KLCE. Strong exports data also supported prices. Palm Oilfutures at KLCE declined as traders liquidated long positions ahead of

elections. CPO prices at MCX and KLCE settled 2.29% and 3% lower. Soy oil

also settled 0.18% and 1% lower on NCDEX and CBOT respectively.

Global Scenario

Malaysian palm oil products export for April fell 4.3 percent to 13.1 lakh tons

from March. Better buying witnessed from Indian and European buyers.

Malaysia, the world's No.2 palm oil producer, has set its crude palm oil export

tax for May at 4.5 percent, unchanged from April. The Southeast Asian

country calculated a reference price of 2,347.26 ringgit per tonne for crudepalm oil for May.

Domestic Scenario

Indias imports of palm oil fell for a second straight month in March, as

domestic supply improved and purchases by the worlds biggest buyer

continued to suffer from an import levy imposed in January.

Imports of all vegetable oils, including non-edible oils, fell 7.5 per cent to

896,714 tn in March, pulled down by the drop in palm oil imports.

Stockpiles of edible oil at ports fell nearly nine percent during March to

850,000 tn, the trade body said, off a record of 930,000 tn on March 1.Stocks were still on the higher side despite the decline in monthly imports.

India's imports of palm oil could rise more than 17% in the year to October

2013 to stand at 9 mn tn, compared with 7.67 mn tn of palm oil in 2011/12 as

the edible oil is the cheapest available, despite an import duty.

Strategy

Buy NCDEX Ref Soya Oil June between 680-685, SL -663, Target - 711 / 715.

MCX CPO May Support 433/445, Resistance 463/473.


17/19

Sugar



Sugar prices settled marginally lower by 0.1% last week as higher supplies is seen

offsetting the summer demand. ICE sugar is currently trading at its lowest levels since June 2010 and settled 0.7%

lower on account of global sugar surplus situation for third consecutive year.

Sugar output likely to fall 3% this year

India is expected to have produced around 24.52 million tonnes (mt) of sugar

during the first six months of the 2012-13 sugar marketing season. In 2012-13,

sugar recovered from crushing was 10.09 per cent.

India sugar reserves at five-year high set to avert imports

Sugar inventories in India, the largest consumer, are poised to surge by 37% to9.2 million tonnes at the start of October, a five-year high as exports grind to a

halt because of slumping global prices even as a drought threatens cane planting.

Exports have plunged to about 35,000 tonnes since 1 October from 3.4 million

tonnes in 2011-2012. .

Brazil to produce record 35.5 million tonnes of sugar

Brazil's main center-south sugar cane crop will produce a record 35.5 mn tn of

sugar in 2013/14 season, an increase of 4.1% from the 34.1 mn tn produced last

year, according to Sugar & ethanol industry association Unica.

US Department of Agriculture officials in Brasilia forecast sugar exports fromBrazil, the top producer and shipper of the sweetener, hitting 29.3m tonnes in

2013-14, for which the cane crush has just begun.

Outlook

Sugar prices are expected to consolidate at lower levels this week. Higher

supplies in the local markets will continue to mount pressure on prices as millers

will release stocks to clear arrears. This will offset summer season demand.

Strategy

NCDEX Sugar May :Support-2850/2920, Resistance- 3020/3100.


18/19

Kapas/Cotton



Cotton futures recovered last week and settled 1.3% higher on account of short

coverings. Lower levels buying also supported an upside in the prices.

ICE Cotton futures gained 3% last week on strong export sales data and U.S.

plantings delays which prompted worry over upcoming supplies. US export sales for

the week ending April 25 reached 314,400 running bales, up 32% from previous

week and most since mid-January.

Govt Likely to Sell More Cotton this Month

Cotton Corporation & NAFED are expected to offload 8 lakh bales at lower prices.

After an unsuccessful bid to offload of 2.5 lakh bales of cotton in April, the

government has now decided to give it a fresh chance.

Cotton Advisory Board sees lower kharif sowing CAB in its latest meet has projected cotton crop at 34 mn bales for 2012-13 season

compared to the previous estimates of 33 mn bales. Mill consumption is expected to

go up from 22.3 million bales last year to 23.5 million bales.

Exports are estimated at 8.1 mn bales. While Import are estimated 2.5 mn bales.

China to sell high-quality state cotton reserves

China will start to sell its high-quality reserves of fibre, which should spur purchases

by textile mills after Beijing's stockpiling tightened domestic supplies.

Starting on Friday, 19

th

April, govt has offered cotton imported in 2011 andpurchased from the 2012 harvest and has allowed textile mills to buy up to 8

months' worth of consumption. Beijing has said it would offer a total of 4.5 million

tonnes for the auctions to last until end of July.

Outlook

With CCI and NAFED offloading more stocks in the local markets, Cotton may remain

under downside pressure in the current week. However, if international markets

recover sharply, then we may see prices taking a rebound from lower levels.

Strategy

Sell MCX Cotton May between 18500-18600, SL -18950, Target - 17970 / 17890.


19/19

Thank You!

Angel Commodities Broking Pvt. Ltd.

Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 3083 7700Corporate Office: 6th Floor, Ackruti Star, Central Road, 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, completeness and 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 whole or in part, by any

recipient hereof for any purpose without prior permission from Angel Commodities Broking (P) Ltd. Your feedback is apprecia ted on [email protected]

mailto:[email protected]:[email protected]

Commodities Weekly Tracker 6th May 2013

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Transcript of Commodities Weekly Tracker 6th May 2013