MCX Commodity Newsletter 18-December

8/13/2019 MCX Commodity Newsletter 18-December

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11118888----DECDECDECDEC.... ----2013201320132013DAILY MCX NEWSLETTER


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BULLION

ia Government drive to reduce gold

sumption to discourage gold imports,

uce Current Account Deficit (CAD) also

sed increase in smuggling activity and

uced gold jewellery exports.

rmed by the huge increase in gold imports

cause foreign exchange outgo of $56.8 bn

012-13, India government hiked import

y on gold to 10% in different stages from a

rate of 2%.

ariety of measures were taken by Finance

nistry and Reserve Bank of India (RBI) to

b consumption of the yellow metal

uding the introduction of the stipulation

one fifth of the imported bullion had to

xported in value added form.

measures to discourage imports led to fall

old and silver import value to $25.5 bn in

first eight months of 2013-14 compared to

5 bn last fiscal. However, large number of

uggling incidents have been reported since

y at various international airports in the

ntry.

ENERGY

The inflation surge in November was ca

by rise in prices across categories- fuel, f

articles, non-food articles and manufactu

products.

"Momentum indicators suggest that whi

inflation in primary articles is likely to

moderate in the coming months, inflatio

manufactured products could accelerate

further. Momentum in manufactured pr

categories - food, textiles, basic metals, a

and metal products, shows an upward tr

partly reflecting the adverse impact of th

weak rupee on imported inflation," acco

to CRISIL Research.

With a weak rupee and rising fuel prices

margins of producers are under stress. T

extent of rising input costs being passed

consumers is likely to rise further, espec

household consumption begins to impro

following a normal monsoon, and a

consequent increase in farm incomes. Gi

the rising inflation - both at the retail an

wholesale level, the RBI with inflation c

as its prime objective, is set to hike the r

rate once again later this week.

BASE METAL

Copper surplus is expected to widen and

outpace demand growth in 2014, according

to International Copper Study Group

(ICSG).

ICSG pointed out that surplus is expected

to grow from 387,000 tons this year to

632,000 tons in 2014.Global copper demand

is expected to increase by 4.5% in 2014 as

economic recovery gains steam

internationally.

Refined copper production to rise 5.5% to

22.1 mn tons next year on China production

gains. In 2013- it grew 3.9% to 20.9 mn tons.

Projects deferred during financial crisis will

go onstream in 2014-15 increasing mine

output

World mine output to surge 11.4% to 18.6

mn tons in 2014.

Copper witnessed some uptrend in LME

this week climbing to $7159 a ton on weak

dollar, China demand for the metal

although the metal has fallen close to 10%

year-to-date.It broke below $7,000 a tonne in

mid-November after holding in a $7,000-

$7,400 range since August.


3/9

: A

A : 29000, 29200

: 28400, 28150

A :

: A

A : 45100, 45500

: 44300, 44000

A : B

BULLION


4/9

ENERGY

: A

A : 6100, 6140

: 6000, 5960A :

: A

A : 266.50, 270.50

: 260.00, 256.00

A : B


5/9

BASE METAL

: AA : 462.50, 466.00

: 455.00, 452.00

A :

: A

A : 134.00, 135.00

: 131.50, 130.50

A :


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: A

A : 124.00, 125.00

: 121.00, 119.50

A :

: A

A : 110.00, 111.00

: 108.80, 107.00

A :

: A

A : 875.00, 880.00 : 861.50, 856.00

A : B


7/9

1233.00

19.904

03.310

97.65

AA A 04.304

AA 700.50

A 1351.80

61.9450

01.3772

103.010

00.8849

B 01.6283

A 01.0608


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MCX Commodity Newsletter 18-December

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