CAPITAL STROKE COMMODITY UPDATE 13 MARCH 2014: MCX COPPER

Copper trading range for the day is 393.1-411.1.

Copper rebounded from earlier losses as a sell-off triggered by concerns about the impact of credit problems in China was considered overdone

Prices bounced off lows as European industrial consumers went bargain hunting.

Copper inventories in Shanghai bonded warehouses are estimated to have more than doubled to 750,000-800,000 tonnes from 350,000

Warehouse stock for Copper at LME was at 255500mt that is down by -2100mt.
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CAPITAL STROKE COMMODITY UPDATE 13 MARCH 2014: MCX NICKEL

Nickel trading range for the day is 928.6-976.8.

Nickel gained extending its recent rally fuelled by concern about an Indonesian ban on unprocessed ore.

China’s large scale industrial added value and fixed asset investment should also be eyed given their significant impact on base metals price movement.

Technically market is under fresh buying as market has witnessed gain in open interest by 10.05% to settled at 8242

Warehouse stock for Nickel at LME was at 269886mt that is down by -828mt.
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CAPITAL STROKE COMMODITY UPDATE 13 MARCH 2014: MCX ALUMINIUM

Aluminium trading range for the day is 104.3-107.3.

Aluminium ended with gains as prices recovered from lows on short covering amid recovery in other base metals prices

Markets are eyeing more economic data from China to determine the state of the economy, after a recent bond default

Aluminium daily stocks at Shanghai exchange came up by 9530 tonnes

Warehouse stock for Aluminium at LME was at 5266800mt that is down by -9875mt.

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CAPITAL STROKE COMMODITY UPDATE 13 MARCH 2014 : MCX NATURAL GAS

Naturalgas trading range for the day is 266.7-289.7.
Natural gas dropped as markets bet that the arrival of spring next week will bring milder temperatures in the U.S. and curb demand for heating.
A late-season winter storm pummeling the central and eastern U.S. should give way to normal and even above-normal temperatures in the coming days
Today natural gas storage: EXP: -199B PREV: -152B. Actual is at 8.00PM
The EIA predicts that the gas industry will begin April with lower reserves than at any time since 2003   


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CAPITAL STROKE COMMODITY UPDATE 13 MARCH 2014: MCX CRUDE OIL

Crudeoil trading range for the day is 5868-6178.

Crude prices dropped after data revealed U.S. stockpiles shot up last week, stoking concerns the U.S. economy remains awash in crude oil.

The U.S. Energy Information Administration said in its weekly report earlier that U.S. crude oil inventories rose by 6.2 million barrels.

Prices came under additional pressure on reports that the U.S. plans to release up to 5 mln barrels of oil from its Strategic Petroleum Reserves

The U.S. Energy Information Administration cut its 2014 world oil demand growth forecast by 40,000 barrels per day to 1.22 million bpd.


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CAPITAL STROKE COMMODITY UPDATE 13 MARCH 2014: MCX ZINC

Zinc trading range for the day is 119.7-124.1.
Zinc dropped amid ongoing concerns over the health of China’s economy.
With an absence of any major news, markets overnight were still preoccupied by tensions in Ukraine.
Zinc daily stocks at Shanghai exchange came up by 1872 tonnes
Warehouse stock for Zinc at LME was at 800150mt that is up by 1325mt.
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CAPITAL STROKE COMMODITY UPDATE 12 MARCH 2014 : MCX GOLD

Gold trading range for the day is 29810-30554.


Gold rose as fears of a slowdown in Chinese economic growth and worries about the crisis in Ukraine sapped appetite for risk.

Weak Chinese exports data for February is also making investors opt for safe-haven gold rather than equities.

In a sign that confidence in the precious metal may be returning amid global uncertainties, SPDR exchange-traded fund saw its

largest inflow in a month

The Ukraine crisis sapped appetite for risk and weighed on U.S. equities, which also boosted gold demand.

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CAPITAL STROKE COMMODITY UPDATE 12 MARCH 2014 : MCX NATURAL GAS

Naturalgas trading range for the day is 276.3-289.1.

Natural gas settled flat as markets began to look towards next week's arrival of spring, which brings milder temperatures and curbs demand for heating.
Spring and fall see the weakest demand for natural gas in the U.S, as the absence of extreme temperatures curbs demand.
Total U.S. natural gas storage stood at 1.196 trillion cubic feet as of last week, the lowest for this time of year since 2004.
Technically market is under fresh buying as market has witnessed gain in open interest by 0.45% to settled at 11379

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CAPITAL STROKE COMMODITY UPDATE 12 MARCH 2014 : MCX NICKEL

Nickel trading range for the day is 931.1-969.5.


Nickel ended with small gains as the market lacked solid news overnight, but strong long momentum.

Data released showed that Chinese exports fell 18.1% on-year in February, defying expectations for a 6.8% increase

When combined with China's sluggish February import and exports data, concerns over China's demand increased.

Warehouse stock for Nickel at LME was at 270714mt that is down by -486mt.

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CAPITAL STROKE COMMODITY UPDATE 12 MARCH 2014 : MCX ALUMINIUM

Aluminium trading range for the day is 103.8-108.8.

Aluminium ended with losses as bearish sentiment dominated markets again with a lack of encouraging news.
A separate report showed that the annual rate of inflation in China slowed to 2.0% in February, from 2.5% in January.
Aluminium daily stocks at Shanghai exchange came up by 3645 tonnes
Warehouse stock for Aluminium at LME was at 5276675mt that is down by -9025mt.

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