Friday, February 15, 2013

MCX Daily Report: Aluminium hopes on US data Crude Oil stays bearish

MUMBAI (Commodity Online): Cotton gained 1.10%. March contract rose to a high of 17430 Rs/bale. International prices and depreciation in Indian Rupee have impacted Cotton prices. Cotton February gained 1.08% and April closed at 17730.

US jobless data and storage data is likely to be announced has pressurized metal and energy prices. Base metals seen slight positive and Crude oil was in the bearish territory. Aluminium and Kapas were also in the gainer?s list.

Aluminium February rose to 0.62% to 114.35 Rs/kg. April rose to 0.57% to 115.50. Bullishness in LME prices is impacting MCX prices.

Crude Oil February contract has fallen 0.42% to 5227 Rs/bbl. March declined to 5278 Rs/bbl and April loss 0.37%. For February contract, support is now seen at 5215, 5210.

Cardamom February declined 0.75% to Rs 942 per kg. Weak spot market report from Idukki and northern regions have impacted the commodity prices.

Source: http://www.commodityonline.com/futures-trading/market-report/MCX-Daily-Report%3A-Aluminium-hopes-on-US-data-Crude-Oil-stays-bearish-29450.html

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