Tag Archives: MCX BASE METAL UPDATE

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LME Report

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Commodity Inventories plays a very important role in trade goods commerce, specially in future commerce. It directly provides you a thought regarding trade goods demand and provide. Inventories of commodites, with low inventories generally resulting in a lot of volatile future costs and increasing the chance of a “stockout” (inventory exhaustion). trade goods Calls collects the info for its members from varied sources and gift it for the your convenience. Inventory knowledge of commodities is employed on the link between inventories and trade goods futures risk premiums. modification in LME Inventory:

Commodity Augest 17, 2017
Aluminium – 2825
Copper – 3200
Lead – 400
Nickel – 366
Zinc – 2000


What is LME means that / Definition of LME ?

A commodities exchange in London, England, that deals in metal futures. Contracts on the exchange include aluminum, copper and zinc. commerce will be done in 3 main ways: through open outcry, a phone system between member firms or the LME choose, associate degree electronic commerce platform. The LME could be a non-ferrous exchange, which implies that iron and steel aren’t listed on the exchange.

Importance & Role of LME Inventory in MCX trade goods commerce ?

Commodity Inventories plays a very important role in trade goods commerce, specially in future commerce. It directly provides you a thought regarding trade goods demand and provide. Inventories of commodities, with low inventories typically leading to more volatile future prices and increasing the risk of a “stockout” (inventory exhaustion). Commodity Calls collects the data for its members from various sources and present it for the your convenience. Inventory data of commodities is used on the relationship between inventories and commodity futures risk premiums. For traders of any kind it is important to wade through the volumes of available information and focus on analyzing data that is accurate, current and pertinent. The LME provides access to information that fits these criteria by publishing price data extracted as a result of general trading activities, which for many metals drives the global pricing mechanism. To understand why the LME is a primary source of market data, you must first grasp how the exchange operates. In essence, the LME allows traders to better predict future price movements or manage the subsequent risk. Traders regularly check to find out official price data to better inform their investment outlook, which has a flow on effect, impacting relevant monetary and physical commodities markets worldwide.

For more info : Official London Metal Exchange Site


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MCX Zinc

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MCX Zinc to interchange 164.7-169.1:

According to crude operator mumbai, metallic element relieved as investors wanting to book gains once a surprise nightlong elevate following a market-friendly French presidential vote.

Zinc mercantilism vary for the day is 164.7-169.1.

Zinc relieved as investors wanting to book gains once a surprise nightlong elevate following a market-friendly French presidential vote.

U.S. shopper confidence fell from a over 16-year high in Gregorian calendar month associated new home sales surge to an eight-month high.

Zinc daily stocks at Shanghai exchange lessened by 2727 tonnes.

BUY metallic element Gregorian calendar month 2017 @ 166.00 SL 164.50 TGT 167.50-168.80.MCX.


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MCX Copper News Update

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As per MCX CRUDE OIL OPERATOR  intraday research Mumbai base company Report for :

 Copper, zinc and nickel rebound on supply concerns

The price of copper bounced back above $6,000 a tonne as a dispute affecting production at the world’s second-biggest copper mine worsened, while zinc was boosted by a drop in inventories. Supply issues dominated the base metals market, with nickel also gaining ground to reach a two-month high as the market tracked the latest plans by the Philippines to close mines on environmental grounds. Further tightening supplies is a strike at Chile’s Escondida copper mine, the world’s biggest, which has extended into a second week. Both Grasberg and Escondida declared force majeure last week. Representatives of Escondida, controlled by BHP Billiton, plan to attend talks with striking workers on Monday as long as the union does not interfere with a shift change for non-union employees. Zinc has gained 10 percent this year on concerns that the closure and suspensions of big mines will create shortages. Nickel extended recent gains as the Philippines’ environment minister said on Monday that she stands by her decision to shut more than half the country’s operating mines ahead of a meeting to review the move.

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MCX BASE METAL UPDATE

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As per MCX www.crudeoperator.com intraday research Mumbai base company report for :
 Supply troubles propelled nickel to two-month highs

MCX Nickel prices rose to two-month highs on mounting concerns about supplies after the suspension of mines in top ore producer the Philippines and its decision to cancel contracts for undeveloped mines. The Philippines this week ordered the cancellation of 75 mineral production-sharing agreements as developing them would threaten water supplies. That came after the closure or suspension of 28 of the country’s 41 mines. Indonesia eased a three-year ban on nickel ore exports in January. However, analysts say the rules accompanying the relaxation on using local smelter capacity to process low-grade ore is a hurdle that some firms may not be able to jump. Stocks of nickel in LMEapproved warehouses stand at around 380,000 tonnes, while those in warehouses monitored by the Shanghai Futures Exchange total 89,000 tonnes. They account for more than 20 percent of global consumption estimated at roughly 2 million tonnes this year. Elsewhere, copper closed lower on profit-taking after a failure to build on a recent rally, which took prices to a 21-month high of $6,204 this week. Copper’s gains have been fuelled by a strike at BHP Billiton’s Escondida mine in Chile and a lack of permits for exports from Freeport McMoRan’s Grasberg mine in Indonesia.

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MCX BASE METAL UPDATE

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As per MCX www.crudeoperator.com intraday research Mumbai base company report for :

 Copper pulled back from recent highs

Copper prices slipped on Thursday but the prospect of supply disruption kept the price near a 20-month high. Other base metals were mixed. The focus continued to be Chile’s Escondida mine, majority owned by BHP Billiton Ltd., where a strike over pay has reportedly been postponed while union officials hold mediated talks with management. The strike has now entered its seventh day and, while parties are keen to talk to each other, it seems an agreement will take some time to reach. Copper has retreated since briefly cresting $6,200 a ton for the first time since May 2015 on Monday, but remains up 9% for the year. A production outage at Freeport-McMoRan Inc.’s Grasberg mine in Indonesia because it hadn’t received an export license has added to concern about a potential supply crunch. Brokerage firm Marex Spectron said that in recent sessions buyers have stepped in whenever copper has fallen, but warned that without another upward tilt, funds that bought during the recent run-up will sell out of their positions, weighing on the price. Copper, sometimes referred to as having an economics Ph.D for its ability to track the economy’s health, is on a tear. But its supply rather than demand that’s filling headlines in the current rally.

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MCX BASE METAL UPDATE

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As per MCX www.crudeoperator.com intraday research Mumbai base company report for :

Aluminium hit highest since May 2015 on China smelter worries 


Aluminium touched its highest in 21 months on Tuesday on renewed concerns about potential closures of Chinese smelters to cut pollution while copper also extended gains on supply worries. Base metals also got fillip from a rise in Chinese credit growth and hopes for more infrastructure spending. In a sign of growing public anger about pollution, hundreds of residents in a northeastern Chinese city on Tuesday protested against the building of an aluminium processing plant. That came a day after Reuters reported a draft policy document showed that the world’s biggest metals consumer was considering forcing steel and aluminium producers to cut more output as Beijing intensifies its war on smog. Buying across industrial metals was driven by the size of the fixed asset investment plan with recent comments in the press suggesting investment in railway construction will remain high in 2017. While the latest fixed investment data is due later this month, figures showed on Tuesday that China’s banks extended the second highest monthly loans on record in January, indicating credit growth remained robust. Copper slipped into the red on hopes strike talks would restart at the world’s biggest copper mine in Chile. Striking workers at Chile’s massive Escondida copper mine have accepted a government invitation to try to resume dialogue with mine operator BHP Billiton.

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MCX BASE METAL UPDATE

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As per MCX www.crudeoperator.com intraday research Mumbai base company report for :

Copper price hit highest level since May 2015 on supply curbs

The price of copper on Monday hit its highest level since May 2015, extending the previous session’s near 5 percent surge after shipments from the world’s two biggest copper mines were disrupted. Copper has managed to break higher from its recent range with the supply disruptions from two major producers. A strike at the world’s biggest copper mine, Escondida in northern Chile, entered a fifth day on Monday with little sign of an imminent resolution. A strike began at the facility, operated by BHP Billiton , after wage talks failed to end in agreement. On Friday BHP said that it would not be able to meet its contractual obligations on metal shipments two days into what was gearing up to be a prolonged stoppage. Meanwhile, Freeport-McMoRan Inc said an Indonesian export ban remained in place at its Grasberg copper mine, the world’s second largest, because it had yet to reach agreement with the government on a new mining permit. That came against a backdrop of encouraging demand signals from China, which posted much stronger than expected trade data for January as demand picked up at home and abroad.

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MCX BASE METAL UPDATE

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Copper futures jumped, on news that workers at the Escondida copper mine in Chile, the largest in the world, were set to strike on Thursday. Workers at Chile’s Escondida mine, the world’s largest copper-mining operation, are expected to strike on Thursday after unsuccessful talks between union officials and management, led by BHP Billiton Ltd., the mine’s largest union said. On Tuesday, union officials at Escondida said they were no closer to a deal with BHP Billiton’s majority-owned Minera Escondida, which it accused of being “very rigid” in negotiations over wages and benefits for workers at the mine. “The position the company has taken doesn’t allow us to see a solution to the conflict,” the mine’s largest union, Union No. 1, said in a statement. “The union and its more than 2,500 workers will continue with its contingency plan to start the strike on Thursday.” The Escondida mine in the Atacama Desert in northern Chile accounts for roughly 5% of global output. BHP manages the operation and holds a roughly 58% stake. Other investors include Rio Tinto PLC and Japan’s Mitsubishi Corp. Expectations of a possible strike at the mine have helped push copper prices higher this year. The mine will stop producing copper if workers strike, Minera Escondida said in a statement.

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MCX BASE METAL UPDATE

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As per MCX www.crudeoperator.com intraday research Mumbai base company report for :

 Copper slid on higher dollar and China demand angst

MCX Copper prices fell on Tuesday as the dollar rose and worries about demand growth in top consumer China and elsewhere subdued sentiment, but concerns about supply curbs helped limit losses. Traders say that is particularly worrying in the context of the Chinese yuan, which has been falling since the start of the year, as China accounts for about half of global demand for industrial metals. There are downside risks around China, key areas like automotive and construction look like they are going to have a much slower year this year compared to last year. Traders expect the prospect of a strike at the Escondida copper mine in Chile, the world’s biggest, and Indonesia’s ban on exports from Freeport McMoRan’s Grasberg mine to support copper prices. Nickel was untraded at the close, but bid down one percent at $10,350. The metal has been boosted by expectations of lower supplies after the Philippine government ordered the closure of some mines for environmental reasons. More important to the sustainability of nickel’s bullish narrative is whether Indonesia will further ramp up its output, as it has already been doing for some time now. New Caledonia is also gearing up, granting three more companies the right to export nickel ore to China.


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MCX BASE METAL UPDATE

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MCX Copper and nickel prices edged higher on Monday, erasing some of Friday’s losses as concerns over potential supply disruptions dogged both metals. Prices traded higher, after falling to a two-week low on Friday, after China’s central bank moved to tighten monetary policy. Friday also marked China’s return to the market following New Year’s celebrations. On Friday, workers at the Escondida mine in Chile, the world’s largest copper mine, moved to start mediated talks with the mine’s management over pay, which are expected to continue this week. The mine is owned by BHP Billiton Ltd. Copper traders have also been watching a dispute in Indonesia between mining giant Freeport-McMoRan Inc., which restated last week that it would need to make cuts to its operations at the Grasberg copper mine by midmonth if the company doesn’t receive an export license from the government. Nickel rose to a three-week high after the Philippines government ordered the closure of 23 mines and suspended operations at an additional five mines. The mining ban counts for about half of the country’s nickel output. Copper and nickel prices were rising despite a slightly stronger dollar on Monday. A bullish picture of economic growth is also helping metals.

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