Daily Commodity Roundup as on - Systematix...

Daily Commodity Roundup as on Monday, September 10, 2018

Date : Monday, September 10, 2018 URL : www.systematixshares.com Page No : 1

14.08CRUDE $

67.75

-0.22 -0.63 -0.03

IN

TER

NA

TIO

NA

L M

AR

KET U

PD

ATE GOLD $

1193.15SILVER $

USDJPY111.004

-0.08 -0.07 0.01EURUSD

1.1543GBPUSD

1.29091

LME

NICKEL

12315

-0.12 0.31 -0.16

LME

COPPER

5873 LME

ZINC

2411

$ INDEX95.49

-0.39 0.12 0.48

LME ALUMINIUM

2055 LME

LEAD

2062

DJIA25996

0.38 0.45 0.08SENSEX

38390NIFTY

11589


NIKKEI22356

-0.38 -0.37 0.22USDINR

71.86 S&P

INDEX

2878

#

#

#

#

MCX Gold Oct 2018

Gold fell as the dollar resumed its rally after stronger-than-expected payrolls data cemented expectations that Fed will raise interest rates in September.

Gold on MCX settled down -0.17% at 30494 as the dollar resumed its

rally versus a currency basket after stronger-than-expected payrolls data

cemented expectations that the Federal Reserve will raise interest rates

in September, in what would be its third hike this year. U.S. jobs growth

accelerated in August, with wages notching their largest annual increase

in nine years, strengthening views the economy was so far weathering

the Trump administration's escalating trade war with China. The

greenback has soared this year on escalating U.S.-Sino trade tensions,

though it has lost some steam in the week to rival safe-haven currencies

like the yen and Swiss franc even as investors brace for new U.S. tariffs

on China. The Federal Reserve should keep raising U.S. interest rates in

light of Friday’s strong jobs report, Dallas Fed President Robert Kaplan

said. “I believe in light of economic performance we ought to be moving

toward neutral...that tells me over the next nine to 12 months we ought

to be raising the fed funds rate probably at least three more times,

maybe three or four times,” Kaplan said. India's gold imports more than

doubled in August to hit their highest level in 15 months as lower prices

prompted manufacturers to replenish inventory for a jewellery exhibition,

provisional data showed. Technically market is under long liquidation as

market has witnessed drop in open interest by -2.56% to settled at 8441

while prices down -53 rupees, now Gold is getting support at 30404 and

below same could see a test of 30315 level, And resistance is now likely

to be seen at 30563, a move above could see prices testing 30633.

OPEN HIGH LOW CLOSE % CHANGE OPEN INTEREST

30544

SUPPORT 3

30722 30633 30563 30404 30315 30245

30544 30385 30494 -0.17 8441

RESIST 3 RESIST 2 RESIST 1 SUPPORT 1 SUPPORT 2


Trading Ideas :Gold trading range for the day is 30315-30633.

U.S. jobs growth accelerated in August, with wages notching their largest annual increase in nine years.

India's gold imports more than doubled in August to hit their highest level in 15 months as lower prices prompted manufacturers to replenish inventory for a jewellery exhibition.

Physical gold buying picked up pace in major Asian centres as lower prices fuelled appetite, with India seeing healthy demand ahead of the festive season.

#

#

#

#

MCX Silver Dec 2018

Silver remained in range pressured by a stronger dollar and signs the U.S.-China trade war is set to intensify.

Silver remained in range pressured by a stronger dollar and signs the

U.S.-China trade war is set to intensify. Traders worried the next chapter

in the U.S.-China trade war could be the most destructive yet. U.S.

President Donald Trump signaled a willingness to slap additional tariffs on

goods from China "very soon." Trump warned that he could impose levies

on $267 billion worth of imported goods from China. This would add to

the $200 billion in goods already targeted. The dollar surged on upbeat

U.S. labor market data showing better-than-expected jobs and wage

growth, indicating that the U.S. economy would be able to deal with a

faster pace of Federal Reserve rate hikes. The U.S. economy added

201,000 jobs in August, above forecasts for 191,000 new jobs, while the

unemployment rate unexpectedly rose to 3.9%, the Labor Department

said. The Federal Reserve should keep raising U.S. interest rates in light

of Friday’s strong jobs report, Dallas Fed President Robert Kaplan said. “I

believe in light of economic performance we ought to be moving toward

neutral...that tells me over the next nine to 12 months we ought to be

raising the fed funds rate probably at least three more times, maybe

three or four times,” Kaplan said. The Federal Reserve will likely have to

raise interest rates past the neutral rate to keep the economy on a

sustainable growth path and inflation around target, according to Chicago

Federal Reserve Bank President Charles Evans. Technically market is

under short covering as market has witnessed drop in open interest by -

0.7% to settled at 27528, now Silver is getting support at 36924 and

below same could see a test of 36680 level, And resistance is now likely

to be seen at 37396, a move above could see prices testing 37624.


37100 37380

37868 37624 37396 36924 36680 36452

36908 37167 0.04 27528

RESIST 3 RESIST 2 RESIST 1 SUPPORT 1 SUPPORT 2 SUPPORT 3


Trading Ideas :Silver trading range for the day is 36680-37624.

Traders worried the next chapter in the U.S.-China trade war could be the most destructive yet.

The U.S. economy added 201,000 jobs in August, while the unemployment rate unexpectedly rose to 3.9%, the Labor Department said.

Hedge funds and money managers increased their bearish stances in COMEX silver contracts to the biggest on record in the holiday-shortened week, CFTC data showed.

#

#

#

#

MCX Crudeoil Sep 2018

Crude oil settled flat as signs of tightening U.S. output were offset by a stronger dollar and fears rising U.S.-China trade tensions could hamper oil demand.

Crude oil settled flat as signs of tightening U.S. output were offset by a

stronger dollar and fears rising U.S.-China trade tensions could hamper oil

demand. Oilfield services firm Baker Hughes reported that the number of

U.S. oil drilling rigs in operation fell by 2 to 860. The fall in rig counts,

pointing to signs of contracting crude output, echoed data from a day

earlier showing U.S. output remained unchanged from the prior week at

11.0 million barrels a day. An OPEC and non-OPEC technical committee

will discuss proposals for sharing out an oil-output increase, a tense topic

for the producer group after it decided in June to ease supply curbs. A

panel called the Joint Technical Committee will consider proposals on

distributing the agreed output increase of 1 million barrels per day, the

sources said. OPEC, Russia and other non-members agreed in June to

return to 100 percent compliance with oil output cuts that began in

January 2017. Months of underproduction in Venezuela and elsewhere

had pushed adherence above 160 percent. The June meeting concluded

with a deep disagreement between Saudi Arabia and Iran, longtime rivals

in OPEC. Saudi Arabia said the decision implied a reallocation of extra

production from countries unable to produce more to those, such as

Riyadh, that can. Iran, facing a forced cut in its oil exports because of

U.S. sanctions, disagreed. Technically market is under long liquidation as

market has witnessed drop in open interest by -4.77% to settled at

13410 while prices down -1 rupees, now Crudeoil is getting support at

4828 and below same could see a test of 4773 level, And resistance is

now likely to be seen at 4918, a move above could see prices testing

4953.


4898 4898

5008 4953 4918 4828 4773 4738

4808 4883 -0.02 13410

RESIST 3 RESIST 2 RESIST 1 SUPPORT 1 SUPPORT 2 SUPPORT 3


Trading Ideas :Crudeoil trading range for the day is 4773-4953.

A mixed petroleum report showing crude stockpiles fell, but product inventories rose sharply also weighed on sentiment.

Oilfield services firm Baker Hughes reported that the number of U.S. oil drilling rigs in operation fell by 2 to 860.

An OPEC and non-OPEC technical committee will discuss proposals for sharing out an oil-output increase, a tense topic for the producer group.

#

#

#

#

MCX Copper Nov 2018

Copper prices ended with losses as investors braced for new U.S. tariffs on China.

Copper on MCX settled down -0.42% at 422.6 as investors braced for new

U.S. tariffs on China. On-warrant stocks of copper available to the market

in LME-registered warehouses rose by 850 tonnes to 147,450 tonnes but

are still down from more than 234,000 tonnes in mid-August, signalling a

tighter market. Stockpiles in Shanghai Futures Exchange (ShFE)

warehouses have fallen to 136,051 tonnes from more than 300,000

tonnes in April. Treatment and refining charges (TC/RCs) paid to China's

copper smelters are set to drop below $80 a tonne next year as

processing capacity expands and copper concentrate falls into a deficit.

Copper miners pay the charges to smelters to process ore into refined

metal, offsetting what the smelters pay for copper concentrate. An annual

benchmark agreed by both sides towards the end of each year plays a

large part in determining the profitability of global copper miners and

smelters. Antaike forecasts that annual copper smelting capacity in

China, the world's biggest copper consumer, will increase by 950,000

tonnes in 2019, on top of an expected 1.08 million tonnes of additions

this year. The world's largest copper mine, Escondida in Chile, recently

avoided a labour strike and a potential outage. Freeport-McMoRan Inc in

July, however, said a revised development plan at the second-biggest

deposit, Grasberg in Indonesia, would reduce copper production during a

transition to underground mining in 2019 and 2020. Technically market is

under fresh selling as market has witnessed gain in open interest by

2.16% to settled at 19658 while prices down -1.8 rupees, now Copper is

getting support at 418.9 and below same could see a test of 415.1 level,

And resistance is now likely to be seen at 426.5, a move above could see

prices testing 430.3.


424.00

SUPPORT 3

434.1 430.3 426.5 418.9 415.1 411.3

426.50 418.90 422.60 -0.42 19658


Trading Ideas :Copper trading range for the day is 415.1-430.3.

Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.4 percent from last Friday, the exchange said.

On-warrant stocks of copper available to the market in LME-registered warehouses rose by 850 tonnes to 147,450 tonnes

Warehouse stock for Copper at LME was at 246175mt that is down by -8175mt.


#

#

#

#

MCX Zinc Sep 2018

Zinc dropped amid concerns of China’s tough stance on trade disputes with the US continue to weigh on investors and the market.

Zinc on MCX settled down -1.5% at 173.85 amid concerns of China’s

tough stance on trade disputes with the US continue to weigh on

investors and the market. Zinc premiums shot up to four-year highs in

China after a large import arbitrage encouraged deals at premiums up to

and above $200 per tonne. Market readying for annual contract

discussions Chinese zinc premiums soar Zinc ingot premiums have shot

up in Shanghai with the arbitrage swinging to its highest in a year. Spot

treatment charges (TCs) for zinc concentrate have risen to their highest

level since October 2016 while the market continues to shift from deficit

to balance. At the same time, Chinese tariffs on United States-origin

metal concentrate shipments could disrupt flows of such material to the

Asian nation. China announced early last month that it will apply an

import tariff of 25% on zinc concentrate and a rate of 10% on lead

concentrate originating from the US. U.S. job growth accelerated in

August and wages notched their largest annual increase in more than

nine years, strengthening views that the economy was so far weathering

the Trump administration's escalating trade war with China. The Labor

Department's closely watched employment report published on Friday

also showed slack in the jobs market was rapidly diminishing, with a

broader measure of unemployment falling to a level not seen since 2001.

Technically market is under fresh selling as market has witnessed gain in

open interest by 40.13% to settled at 5374 while prices down -2.65

rupees, now Zinc is getting support at 172.8 and below same could see a

test of 171.6 level, And resistance is now likely to be seen at 175.7, a

move above could see prices testing 177.4.


176.0

SUPPORT 3

178.6 177.4 175.7 172.8 171.6 169.9

176.3 173.3 173.9 -1.50 5374


Trading Ideas :Zinc trading range for the day is 171.6-177.4.

Further downside seen limited given current low inventories in major domestic markets and in the Shanghai bonded area.

Zinc premiums shot up to four-year highs in China after a large import arbitrage encouraged deals at premiums up to and above $200 per tonne.

Warehouse stock for Zinc at LME was at 232800mt that is down by -2850mt.


#

#

#

#

MCX Nickel Sep 2018

Nickel dropped facing pressure from intensifying trade tensions between the United States and China.

Nickel on MCX settled down -0.84% at 888.7 facing pressure from

intensifying trade tensions between the United States and China. The

Philippines, one of the world's top suppliers of nickel ore, will in the week

start limiting the land that miners can develop at any one time as new

rules to protect the environment take effect. The new curbs, backed by

President Rodrigo Duterte, target 29 of 48 mines operating in the

Philippines, which are nickel producers supplying ores to the world's

leading market, China. Reuters first reported the new set of restrictions in

April. Under the new rules, a 20-metre "buffer zone" will be established

inward from the mining tenement boundary and near rivers and streams,

where metals extraction will be banned. Nickel ore output fell 10 percent

in the first half of 2018 from a year earlier to 9.43 million dry metric

tonnes, government data showed. Eleven of the nickel mines had zero

output during the period because their operations were suspended or they

were under maintenance status. Manufacturing activity in China, the

world's biggest consumer of industrial metals, grew last month at its

slowest rate in more than a year, with export orders shrinking for a fifth

month and employers cutting more staff, the Caixin/Markit Manufacturing

Purchasing Managers' Index showed. Nickel is quite tied up with the

stainless steel industry, which has been directly affected by tariffs

already, so that might be why it has been particularly hard hit.

Technically market is under fresh selling as market has witnessed gain in

open interest by 8.22% to settled at 14712 while prices down -7.5

rupees, now Nickel is getting support at 880.2 and below same could see

a test of 871.7 level, And resistance is now likely to be seen at 896.6, a

move above could see prices testing 904.5.


890.1

SUPPORT 3

913.0 904.5 896.6 880.2 871.7 863.8

896 879.6 888.7 -0.84 14712


Trading Ideas :Nickel trading range for the day is 871.7-904.5.

Philippines implements fresh nickel mining curbs in environment protection drive.

Nickel ore output fell 10 percent in the first half of 2018 from a year earlier to 9.43 million dry metric tonnes, government data showed.

Warehouse stock for Nickel at LME was at 236250mt that is down by -456mt.


#

#

#

#

NCDEX Jeera Oct 2018

Jeera prices settled flat amid pick-up in domestic as well as exports demand at the spot market.

Jeera prices settled flat amid pick-up in domestic as well as exports

demand at the spot market. Further, tight stocks position on fall in

arrivals from the growing regions also added supported to jeera prices

uptrend. However, upside seen limited due to improved rains in the

central Gujarat major Jeera producing area. As per trade information,

crop damaged reported in Syria and Turkey due to heavy rainfall in June

support Indian Jeera in International market. Quality wise (due to heavy

rainfall) and price wise Indian Jeera more affordable than other producing

country. Lower Jeera supply reported in the spot market during the

period, as stockists were holding back their stocks on expectations of

higher prices in coming days. Jeera supply from last year up by 100%

due to increased production current year. Currently, all India stocks

reported around 25 – 27 lakh bags. According to export data released by

Commerce ministry, exports in June surged 55.7% on year to21,404

tonnes. Moreover, country exports about 75,242 tonnes of Jeera during

Apr-Jun 2018. Jeera arrivals during July are pegged at 8,700 tonnes

compared to 3,800 tonnes last year for same period. India is expected to

export a record 175,000 tn of jeera in 2018-19 (Apr-Mar), primarily

because supply from its competitors has taken a hit making it the sole

supplier of the largely sought after spice. Technically market is under

fresh selling as market has witnessed gain in open interest by 15.02% to

settled at 6294 while prices down -10 rupees, now Jeera is getting

support at 19310 and below same could see a test of 19200 level, And

resistance is now likely to be seen at 19555, a move above could see

prices testing 19690.


19430

SUPPORT 3

19800 19690 19555 19310 19200 19065

19580 19335 19420 -0.05 6294


Trading Ideas :Jeera trading range for the day is 6473-6473.

However, upside seen limited due to improved rains in the central Gujarat major Jeera producing area.

NCDEX accredited warehouses jeera stocks gained by 139 tonnes to 2786 tonnes.

In Unjha, a key spot market in Gujrat, jeera remains unchanged at0 rupees to end at 19450 rupee per 100 kg.


#

#

#

#

NCDEX Turmeric Oct 2018

Turmeric prices dropped due to improved sowing and lower exports demand.

Turmeric on NCDEX settled down -0.72% at 6616 due to improved

sowing and lower exports demand. Prices also seen pressure tracking

higher acreage during current season at key turmeric growing regions.

The spot market is likely to get festive demand in coming weeks which

can prompt buying again in turmeric. In Telangana, Turmeric acreage was

reported at 47,114 hectares in the corresponding period last year.

Current sowing stands at 86 percent of normal for the season. Among

major Turmeric growing districts Nizamabad has reported 13,965

hectares in acreage compared to last years 12,800 hectares and

Warangal(Rural) has reported 5,521 hectares of average compared to last

years 4,250 hectares. In, Andhra Pradesh, Turmeric sowing as on 23

august 2018 reported higher at15,612 hectares as compared to 15 ,612

hectares compared to 13,573 hectares in the corresponding period last

year,87 percent sowing completed from season normal. In Maharashtra,

Turmeric new crop almost completed in Sangli mandi. Turmeric sowing

has almost been completed in major growing regions. During the August,

arrivals of turmeric have been higher at 14,941 t (Vs 12,983 t) compared

last year, as per data. The export of turmeric was higher by 5% at 12,755

tonnes in June 2018 compared to last years’ exports. Technically market

is under fresh selling as market has witnessed gain in open interest by

10.93% to settled at 11160 while prices down -48 rupees, now Turmeric

is getting support at 6584 and below same could see a test of 6552 level,

And resistance is now likely to be seen at 6658, a move above could see

prices testing 6700.


6622

SUPPORT 3

6732 6700 6658 6584 6552 6510

6668 6594 6616 -0.72 11160


Trading Ideas :Turmeric trading range for the day is 6552-6700.

In Telangana, Turmeric acreage was reported at 47,114 hectares in the corresponding period last year.

NCDEX accredited warehouses turmeric stocks dropped by 19 tonnes to 4548 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 6909.4 Rupees dropped -52.5 Rupees.


#

#

#

#

MCX Menthaoil Sep 2018

Mentha oil prices ended with gains tracking firmness in spot demand as farmers and stockists have kept their stocks in hopes of an increase in prices.

Menthaoil on MCX settled up 1.28% at 1744.6 tracking firmness in spot

demand as farmers and stockists have kept their stocks in hopes of an

increase in prices. On the other hand, the export demand in the current

time is average, but there is hope for an increase in export demand due

to reaching the lower level of rupee against the dollar. Bumper crop

harvest has been discounted in the market and market is moving

upwards on rising demand from end users. Arrivals in Sambhal stood at

400 drums compared to 350 drum a day ago while in Barabanki supplies

rose to 500 drums from 450 drums a day earlier. According to preliminary

estimates, mentha oil production in 2018-19 would be 40,000-45,000 ton

against last year's production of 35,000 tons. There could be chances of

crop damage to certain extend due to unfavourable weather condition.

Besides, farmers are likely to hold back the stocks as the present prices

are not remunerative for them. However, in recent years, the growth in

production and consumption of synthetic mentha has influenced the

demand for natural mentha. As per sources, India contributes around

80% to the total global mentha oil production. Total global production

stood at around 48,000 tonnes, out of which India produces between

30,000-40,000 tonnes. According to estimates, mentha oil production in

India for crop year 2016-17 will be around 38,000 tonnes. Technically

market is under short covering as market has witnessed drop in open

interest by -8.98% to settled at 1317 while prices up 22 rupees, now

Menthaoil is getting support at 1704.8 and below same could see a test of

1665 level, And resistance is now likely to be seen at 1775.2, a move

above could see prices testing 1805.8.


1719.90

SUPPORT 3

1845.6 1805.8 1775.2 1704.8 1665.0 1634.4

1766.00 1695.60 1744.60 1.28 1317


Trading Ideas :Menthaoil trading range for the day is 1665-1805.8.

Mentha oil spot at Sambhal closed at 1905.00 per 1kg. Spot prices was up by Rs.21.60/-.

On the other hand, the export demand in the current time is average, but there is hope for an increase in export demand.

According to preliminary estimates, mentha oil production in 2018-19 would be 40,000-45,000 ton against last year's production of 35,000 tons.


TIME ZONE Forecast

CommodityLME STOCK Stock

COPPER -8175 246175

ALUMINIUM -1125 1061575

NICKEL -456 236250

LEAD -225 121400

ZINC -2850 232800

3985 22940 19420 4315 6616 4152 600.8 3246

DAILY MARKET TRADING LEVEL

COMMODITIESNCDEX CHANA Oct

2018

NCDEX Cotton Oct

2018

NCDEX Jeera Oct

2018

NCDEX Guarseed10

Oct 2018

NCDEX Turmeric

Oct 2018

NCDEX Rmseed Oct

2018MCX CPO Sep 2018

NCDEX Soyabean

Oct 2018

NCDEX

Ref.Soya oil

Oct 2018

742.6CLOSE

P. POINT 3983 22860 19445 4315 6626 4135

4018 23060 19555 4350 6658 4185

RESISTANCE

4086 23390 19800 4421 6732 4268

602.4 3252 744

754

4051 23190 19690 4386 6700 4218 608.9 3291 751

611.3 3308

604.8 3269 747

4244 6552 4052 595.9 3213 737

3950 22730 19310 4279 6584 4102 598.3 3230

733

Cng in OI 0.48 -3.14 15.02 -0.72 10.93 13.02 -7.39 -0.72 3.75

SUPPORT

3882 22400 19065 4208 6510 4019 591.8 3191

740

3915 22530 19200

Fresh Selling

LME DAILY STOCK POSITION ECONOMICAL DATA

DATA Previous

2:00pm EUR Sentix Investor Confidence 13.8 14.7

TREND Fresh Selling Short Covering Fresh Selling Long Liquidation Fresh Selling Fresh Buying Long Liquidation Long Liquidation

Tentative USD FOMC Member Bostic Speaks 0 0

0:00 0 0 0 0

0 0 0 0 0

0:00 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0


-8175

-1125

-456-225

-2850

-9000

-8000

-7000

-6000

-5000

-4000

-3000

-2000

-1000

0

COPPER ALUMINIUM NICKEL LEAD ZINC

LME STOCK

NEWS YOU CAN USE

German exports and industrial output both unexpectedly fell in July, in a fresh sign that manufacturers in Europe's largest economy are suffering from U.S. President

Donald Trump's protectionist trade policies. The Federal Statistics Office said that seasonally adjusted exports fell by 0.9 percent on the month, while imports surged by

2.8 percent – the strongest rise in almost four years and a record total volume of 94.5 billion euros. Trump has triggered trade disputes with China, Europe and many

others regions by imposing steep tariffs on a broad range of products in his pledge to protect American jobs against what he calls unfair trade practices. Germany's

seasonally adjusted trade surplus narrowed to 15.8 billion euros ($18.39 billion) from 19.3 billion in June. Separate data from the Economy Ministry showed industrial

output dropped by 1.1 percent, confounding the Reuters forecast for a 0.2 percent rise. The ministry said industrial output would likely regain momentum soon after a

muted start to the third quarter, which was depressed by "temporary bottlenecks in passenger car registrations under the new driving cycle".German industrial orders fell

by 0.9 percent in July after a revised plunge of 3.9 percent in the previous month, official data showed.

Mark Carney confirmed that he is willing to extend his term as the Bank of England governor to support a "smooth Brexit transition".In recent weeks, speculation has

been rife that the former Bank of Canada governor was willing to change his earlier stance of leaving the BoE in June 2019, which was two years short of the usual eight-

year term. The UK is set to exit the European Union in March 2019. Media reports also said the government was also in favor of having Carney as the BoE Chief during the

Brexit transition as it was likely to be hard to find a successor to handle what is likely to be a tumultuous period for the economy. In 2013, Carney succeeded Mervyn King

as the BoE Governor, becoming the first non-Briton to take the top job. Carney made clear his inclination in continuing in the top job at the Bank of England during a

Treasury Committee hearing. Confirming that he had talks with the Chancellor Philip Hammond regarding the matter, Carney said he was "willing to do whatever" to

"promote both a smooth Brexit and an effective transition at the Bank of England."

India is likely to export 7 million bales of cotton in 2018/19, down 30 percent from an earlier estimate, as scanty rainfall and an attack of pink bollworms are likely to

squeeze crop yields, the head of a leading trade body told. Lower shipments from the world’s biggest producer of the fibre amid rising demand from top consumer China

could support global prices, which on Monday were trading near their lowest level in over four months. A drop in planting area and the pest attack will limit overseas sales

to 7 million bales in the marketing year starting on Oct. 1, down from 7.2 million bales in the current crop year, said Atul Ganatra, president of the Cotton Association of

India. “In Gujarat and Maharashtra, rainfall was lower than normal. In some pockets, pink bollworm attacks have also been reported,” said Ganatra, who had forecast

exports of 10 million bales in June. Gujarat and Maharashtra account for more than half of the country’s total cotton production. Some regions of these two states

received as much as 22 percent less rainfall than normal, according to data compiled by India Meteorological Department. Export demand for shipments in 2018/19 is

robust but we could not sign deals due to uncertainty over crop size, said a Mumbai-based dealer with a global trading firm.



The information and opinions contained herein have been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. Such information has not been independently verified and no guaranty, representation of warranty, express or implied, is

made as to its accuracy completeness or correctness.

This document is for information purposes only. This report is based on information that we consider reliable, but we do not represent that it is accurate or complete, and one should exercise due caution while acting on it. Descriptions of any commodities mentioned herein are not

complete and this document is not, and should not be construed as an offer or solicitation of an offer to buy or sell any commodities/commodity derivatives. Past performance is not a guide for future performance, future returns are not guaranteed and a loss of original capital may occur.

All opinions, projections and estimates constitute the judgment of the author as on the date of the report and these, plus any other information contained in the report, are subject to change without notice. Prices and availability of financial instruments also are subject to change without

notice.

This report is not directed to or intended for display, downloading, printing, reproducing or for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, reproduction, availability

or use would be contrary to law or regulation or what would subject to Systematix Commodities Services Private Limited (SCSPL) or its affiliates to any registration or licensing requirement within such jurisdiction. If this report is inadvertently send or has reached any individual in such

country, especially, USA, the same may be ignored and brought to the attention of the sender. Neither this document nor any copy of it may be taken or transmitted into the United State (to U.S.Persons), Canada, or Japan or distributed, directly or indirectly, in the United States or

Canada or distributed or redistributed in Japan or to any resident thereof. Any unauthorized use, duplication, redistribution or disclosure of this report including, but not limited to, redistribution by electronic mail, posting of the report on a website or page, and/or providing to a third party

a link, is prohibited by law and will result in prosecution. The information contained in the Report is intended solely for the recipient and may not be further distributed by the recipient to any third party.

SCSPL generally prohibits its analyst(s), persons reporting to analyst(s), and members of their households from maintaining a financial interest in the commodities or commodity derivatives that the analyst(s) cover. Our salespeople, traders, and other professionals or affiliates may

provide oral or written market commentary or trading strategies to our clients that reflect opinions that are contrary to the opinions expressed herein. Our proprietary trading and investing businesses may make investment decisions that are inconsistent with the recommendations

expressed herein. The views expressed in this research report reflect the personal views of the analyst(s) no part of the compensation of the research analyst(s) was, is, or will be directly or indirectly related to the specific recommendations and views expressed by research analyst(s) in

this report. The compensation of the analyst who prepared this document is determined exclusively by SCSPL however, compensation may relate to the revenues of the Systematix Group as a whole, of which investment banking, sales and trading are a part. Research analyst(s) and

sales persons of SCSPL may provide important inputs to its affiliated company(ies).

Foreign currency denominated commodities, wherever mentioned are subject to exchange rate fluctuations, which could have an adverse effect on their value or price, or the income derived from them. In addition, the values of which are influenced by foreign currencies effectively

assume currency risk.

SCSPL, its directors, analyst(s) or employees do not take any responsibility, financial or otherwise, of the losses or the damages sustained due to the investments made or any action taken on basis of this report including but not restricted to changes in the currency rates, reduction in

the income, etc.

SCSPL and its affiliates, officers, directors, and employees may: (a) from time to time, have long or short positions in, and buy or sell the commodities/commodities derivatives thereof, of company(ies) mentioned herein or (b) be engaged in any other transaction involving such

commodities/commodity derivatives and earn brokerage or other compensation (financial interest) or act as a market maker in the financial instruments discussed herein or have other potential material conflict of interest with respect to any recommendation and related information and

opinions. The views expressed are those of the analyst and the Company may or may not subscribe to the views expressed therein.

SCSPL, its affiliates and any third party involved in, or related to, computing or compiling the information hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of this information. Without

limiting any of the foregoing, in no event shall SCSPL, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind. The Company accepts no liability whatsoever for the actions of third parties. The

Report may provide the addresses of, or contain hyperlinks to, websites. Except to the extent to which the Report refers to website material of the Company, the Company has not reviewed the linked site. Accessing such website or following such link through the report or the website of

the Company shall be at your own risk and the Company shall have no liability arising out of, or in connection with, any such referenced website

SCSPL shall not be liable for any delay or any other interruption which may occur in presenting the data due to any technical glitch to present the data. In no event shall the SCSPL be liable for any damages, including without limitation, direct or indirect, special, incidental, or

consequential damages, losses or expenses arising in connection with the data presented by SCSPL through this presentation.

Neither SCSPL, nor any of its other group companies or associates, shall be responsible for any decisions taken on the basis of this report. Investors are advised to consult their Investment and Tax consultants before taking any investment decisions based on this report.

Systematix Commodities Services Private Limited.:

Registered and Corporate address: The Capital, A-wing, No. 603 – 606, 6th Floor, Plot No. C-70, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051

CIN - U01119MH1994PTC266348 | MCX SEBI Reg No.: INZ000043009 | NCDEX SEBI Reg No.: INZ000043009 Member Code: MCX: 29790 | NCDEX: 534

Daily Commodity Roundup as on - Systematix...

Documents

Transcript of Daily Commodity Roundup as on - Systematix...