10/12/2010 06:44:00 PM
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India Soya Oil ended the day lower on weak global cues. Benchmark CPO futures December contract on BMD ended the day lower by MYR 25 at MYR 2900 per tonne. The contract traded in the range of MYR 2925-Rs2878 per tonne. E-CBOT Soya Oil December contract currently trades at 46.90, up 0.20 cents per pound.
NCDEX Refined Soya Oil for the November delivery traded in the range of Rs 523-516.50 per 10 kg and ended the day lower by Rs 4.90 or 0.94 percent over the last close. The open interest in the contract added 4.18 percent to 1,40,070 tonnes from 1,46,180 tonnes, indicating short covering. Volume traded dipped to 87,410 tonnes from 2,06,300 tonnes.
Commodity MCX -Metal Updates
Spot gold prices came under pressure in the Asian trade today, and the yellow metal prices were hovering around $1344/oz till 3.45 pm IST, slightly above its
intra-day low of $1243/oz. Around the same time, the December gold contract on the MCX platform was trading slightly at Rs 19,655, declining around 0.1%.
Spot gold prices lost more than 0.7% in the afternoon trade today, but losses on the MCX were cushioned on the back of Rupee depreciation. Spot Rupee declined more than 0.5% against the dollar today and was trading at 44.69 at 3.45 pm IST.
Copper prices slipped by 1% on the LME and were trading at $8232/tonne till 4.00 pm IST today. The red metal prices touched an intra-day low of $8,165/tonne in today’s session. Copper prices declined today after the Chinese officials indicated another rise in reserve requirement ratio of six large banks to curb inflation. On the MCX, red metal prices declined by 0.5% and were trading at Rs 369.50/kg till 4.00 pm IST today. Copper inventories on the LME decreased by 725 tonnes to reach at 371,750 tonnes today.
Crude oil prices declined by 0.8% on the Nymex today and were trading around $81.34/bbl till 4.00 pm IST. Crude oil prices witnessed declines due to strengthening in the DX which pulled down the oil prices today. Moreover, negative sentiments in the global financial markets also exerted pressure on the
crude oil prices. However, the pension reform strike in the Marseille port in France has become a serious issue for the France government and has entered
its 16th day of objection. Disruption of oil production in refineries, blockage of oil ships and tankers had increased the supply concerns which could support the crude oil prices in the further coming sessions.
