|
Prev
Next
|
|
| As on Apr 26, 2024 12:00 AM |
Your results on : End Session |
|
|
| COMEX Copper futures zoomed up well above $4.50 per pound to near 22 month high amid largely steady equities. Markets eyed M&A activity in the mining sector, as Australian giant BHP Group's takeover proposal for Anglo American. Equities also rose in Europe and Asia. China?s Shanghai Composite index surged 1.18%. Hong Kong?s Hang Seng index spiked 2%. Japan?s Nikkei 225 index soared 0.81% after deep losses in last session. European stocks edged up with German DAX adding 0.78%. COMEX Copper futures are currently quoting at $4.57 per pound, up 1.30% on the day. Powered by Commodity Insights |
| COMEX Copper futures stayed well supported today, going up above $4.50 per pound to near 20 month high amid largely steady equities. Chinese economic cues continued to drive the momentum for the metal after it hit 20month highs recently. Chinese economy is rebounding and the long-term trajectory of positive growth is unlikely to change, Foreign Ministry spokesperson Wang Wenbin stated on Wednesday, according to media reports. With the continuous high-quality development and high-level opening-up, China's economy will accelerate its transformation and upgrade, making greater contributions to the global economy. China?s Shanghai Composite index added 0.48%. Hong Kong?s Hang Seng index rose 0.27%. Japan?s Nikkei 225 index lost 2.16%. European stocks fell and major indices lost more than 50%. Meanwhile, the US stocks ended on a mixed note on Wednesday as treasury yields rose. Powered by Commodity Insights |
| COMEX Copper futures are recovering following a pullback near $4.40 per pound. Prices tanked around 1% on the day. The rebound partially came on the back of sliding stocks in LME registered warehouses, which at 121,200 tonnes have dropped more than 35% since October last year. Currently, COMEX copper futures are up 0.82% on the day to trade at $4.47 per pound. Asian stock markets edged up on Wednesday on firm overnight cues. China?s Shanghai Composite index added 0.76%. Hong Kong?s Hang Seng index jumped 2.20%. Japan?s Nikkei 225 index spiked 2.40%. European stocks advanced today with decent gains for major indices. US stocks edged up steadily yesterday. The Dow added 0.69% while the S&P 500 zoomed 1.2%. The Nasdaq rallied 1.59%. Powered by Commodity Insights |
| COMEX Copper futures pulled back near $4.40 per pound as a drop from 20 month highs extended. The metal saw some corrective moves after latest gains. Latest data from China also points towards a mixed demand scenario for the metal. COMEX Copper futures are currently quoting at $4.40 per pound, down 1.53% on the day. China's industrial capacity utilization rate came in at 73.6 percent in the first quarter of 2024, down 0.7 percentage points from the same period last year, latest data released by the National Bureau of Statistics showed. China?s Shanghai Composite index fell 0.74%. Hong Kong?s Hang Seng index soared 1.92%. Japan?s Nikkei 225 index gained 0.30%. European stocks advanced today with decent gains for major indices. Wall Street stocks ended higher on Monday following a market sell-off in previous sessions. Powered by Commodity Insights |
| Copper futures steadied just under $$4.50 per pound today, consolidating around 20 month high amid mixed equities. The metal has gone up sharply in last few days and the near term focus is likely to shift on the movement in broad equity indices. Meanwhile, in Asia, China?s Shanghai Composite index dropped 0.67%. Hong Kong?s Hang Seng index jumped 1.77%. Japan?s Nikkei 225 index soared 1%. European stocks started the week on a firm note amid lack of major economic cues. German DAX jumped 0.71% while French CAC has added 0.31%. UK?s FTSE100 index soared 1.49%. US stocks saw sustained selling in tech counters. Nasdaq lost 2.1% and ended lower for the sixth straight session. The index is at its lowest closing level in well over two months. Powered by Commodity Insights |
| Silver futures have been locked in a range after hitting near three year highs of $30 per ounce and consolidated around $29 per ounce mark. The metal has moved up at a blistering pace over the last few weeks on firm industrial demand trends and soaring Copper prices. Global Demand for silver in the PV industry increased by 64% from 118.1 million ounces (Moz) in 2022 to 193.5 Moz in 2023, according to the recent World Silver Survey 2024 published by the Silver Institute. The demand could increase a further 20% this year, reaching 232 Moz. Total silver demand fell by 7% last year, from 1,278.9 Moz in 2022 to 1,195.0 Moz in 2023. Silver Institute expects it to rise again in 2024, by 2% to 1,219.1 Moz. Silver demand across all industrial use rose by 11% to 654.4 Moz in 2023, which is a record high. Meanwhile, India?s Silver imports came in at Rs 6777 crore in March 2024, up by 1068% compared to March 2023. Silver imports in FY24 rose by 6.93% compared to FY23. Powered by Commodity Insights |
| WTI Crude oil futures corrected in the week gone by, adding to massive losses after prices tested highs near $88 per barrel earlier in the month to mark their highest levels in five months. Volatile equities capped upside and traders also eyed rising US crude oil inventories. The commodity dipped near $82 per barrel, testing lowest level in three weeks. Extending the surge seen over the past few weeks, crude oil inventories in the U.S. once again increased in the week ended April 12th, according to a report released by the Energy Information Administration (EIA). The report said crude oil inventories jumped by 2.7 million barrels last week after spiking by 5.8 million barrels in the previous week. At 460.0 million barrels, U.S. crude oil inventories are now only approximately 1 percent below the five-year average for this time of year, the EIA said. Cushing oil inventories increased by 0.033 million barrels, contrasting with the previous week?s decrease of 0.17 million barrels. Powered by Commodity Insights |
| COMEX Copper saw accelerated gains this week as investors focused on the developments in Zambia and a steady world economic outlook propped up the sentiments. The Council of the Zambia Chamber of Mines has called on Zambia?s electricity supplier ZESCO, the Government and the entire energy sector to prioritise the protection of underground mine ventilation, mine dewatering infrastructure and Copper Smelter furnace assets from irreparable damage associated with power outages at this time of load shedding. ZESCO has served notices of force majeure on supply of electricity to several of the Chamber of Mines members. This has pushed up the COMEX Copper futures sharply with the counter hitting above $4.50 per pound to test a 20 month high. The International Monetary Fund said that a resilient global economy is set for steady growth in the next two years as inflation returns to target gradually, but the growth will be uneven amid persistent risks. Global growth is set to remain at 3.2 percent this year and next, the same as in 2023, the IMF said in its latest World Economic Outlook. The forecast for this year was raised by a percentage point from January, while the outlook for next year was retained. Powered by Commodity Insights |
| Gold futures saw volatile moves after hitting fresh highs of around $2450 per ounce. The metal eased from these levels but was supported by safe-haven demand amid rising geopolitical risks in the Middle East. The metal has gained over 15% so far this year and closed the last week just above $2400 per ounce mark. Recent geopolitical events include Israeli missiles targeting a site in Iran, believed to be in retaliation for an attack on Iran's embassy in Syria. Gold also tracked a moderation in Indian bullion demand trends following the massive spurt in prices over last few weeks. Local retail sport Gold prices have hit Rs 73000 per 10 grams in major trading centres compared to around Rs 63000 per 10 grams at the start of the year 2024. This is being reflected in the import figures too. India's Gold imports stood at Rs 12722.03 crore in value terms in March 2024, down 53% compared to March 2023. Gold imports in FY24 rose by 34.50% compared to FY23. MCX Gold futures had almost hit Rs 74000 per 10 grams mark in mid April 2024 before moderating and have been consolidating just under Rs 73K thereafter. Powered by Commodity Insights |
| COMEX Copper futures are lingering around $4.50 per pound mark, consolidating after recent gains as equities turned weak today amid Middle East tensions. The counter is still finding good support from mining worries in Zambia. COMEX Copper futures are currently trading at $4.46 per pound, up 0.66% on the day. Meanwhile, in Asia, China?s Shanghai Composite index fell 0.29%. Hong Kong?s Hang Seng index lost 0.99%. Japan?s Nikkei 225 index plunged 2.66%. European stocks fell. German DAX dipped 0.57% while French CAC has lost 0.29%. UK?s FTSE100 index shed 0.49%.US stocks were mostly weak. Nasdaq slid 0.5% while the S&P 500 eased 0.2%. The Dow edged up 0.1%. Powered by Commodity Insights |
| WTI Crude oil futures corrected today, adding to massive losses in last session as traders eyed rising US crude oil inventories. The commodity trades at $81.82 per barrel, down 0.40% on the day. These are the lowest level in three weeks. Oil tanked more than 3% in the previous session as the US EIA data showed 2.735 million barrel increase in crude inventories last week compared with a significant build of 5.8 million barrels for the previous week. Cushing oil inventories increased by 0.033 million barrels, contrasting with the previous week?s decrease of 0.17 million barrels. Refining utilization decreased by 0.2% following a decrease of 0.3% in prior reading. Meanwhile, equities were mildly higher today. In Asia, China?s Shanghai Composite index ended marginally up after recent tumble. Hong Kong?s Hang Seng index rallied 0.82%. Japan?s Nikkei 225 index added 0.31%. European stocks saw modest gains. Powered by Commodity Insights |
| Copper futures plummeted today, falling from a 15 month high as sliding global equities weighed on the red metal. The COMEX Copper futures are trading at $4.29 per pound, down 1.90% on the day. In Asia, China?s Shanghai Composite index plummeted 1.65%. Hong Kong?s Hang Seng index fell 2.10%. Japan?s Nikkei 225 index lost 2%. European stocks are melting. German DAX lost 1.44% while French CAC has plunged 1.40%. UK?s FTSE100 index is also down by a similar quantum. US stocks declined on Monday as rising yields and worries over the conflict in the Middle East overshadowed strong retail sales data. Powered by Commodity Insights |
Copper flared on worries over global supplies and a return of risk appetite in European markets. The red metal currently trades up 1.50% at $4.32 per pound – holding around 15 month high. Copper also rose as top global exchange CME Group suspended from its platform aluminium produced in Russia from April 13. The exchange took this step after the United States and Britain imposed new sanctions on Moscow for its invasion of Ukraine. The US Treasury Department and the British government on Friday banned the LME and the Chicago Mercantile Exchange (CME) from accepting new Russian production of aluminum, copper and nickel produced from April 13. In Asia, equities were mostly under pressure amid flare up of tensions in Middle East. China’s Shanghai Composite index jumped 1.26% after recent losses. Hong Kong’s Hang Seng index fell 0.72%. Japan’s Nikkei 225 index dipped 0.72%. German DAX is up 0.83% on sustained buying. French CAC has gained 0.70% while UK’s FTSE100 index is up marginally. Meanwhile, US stocks slumped on Friday following a mixed start to earnings reporting season. Worries about potentially escalating tensions in the Middle East rattled financial markets. DOW lost 1.24% on the day. Powered by Commodity Insights |
| India's Gold imports stood at Rs 12722.03 crore in value terms in March 2024, down 53% compared to March 2023. Gold imports in FY24 rose by 34.50% compared to FY23. Silver imports came in at Rs 6777 crore in March 2024, up by 1068% compared to March 2023. Silver imports in FY24 rose by 6.93% compared to FY23. Gold imports tanked on a monthly basis, falling by 280% compared to January 2024 while Silver imports plunged by 88.55% on month. Powered by Commodity Insights |
|
|