Commodity Outlook
Precious Metals | Base Metals | Energy
May 19, 2016
PRECIOUS METALS
MARKET ROUNDUP
PRECIOUS METALS MARKET WATCH
Precious Metals
Contract
Open
High
Low
Close
Change
% Chng
MCX Gold Rs.
JUN6
30041
30083
29911
30055
6
0.02
COMEX Gold $
JUN6
1280.6
1283.5
1256
1274.4
-2.5
-0.20
MCX Silver Rs.
JUL6
41081
41100
40576
41048
-132
-0.32
COMEX Silver $
JUN6
16.92
16.92
16.83
16.85
-0.27
-1.55
Precious metals prices fell on
Wednesday as the dollar hit a new
three-week high following minutes
of the U.S. Federal Reserve's last
policy meeting that bolstered
expectations that the central bank
could soon raise interest rates.
LONDON FIXING
A.M. FIXING
1270.9
Gold
IN FOCUS
P.M. FIXING
1272.9
 SPDR Gold Trust GLD, the world's
largest gold-backed exchangetraded fund, said its holdings
stood at 855.89 tonnes, remain
unchanged
from
previous
business day.
-
Silver Fix AM
US $ INDEX
US $ INDEX
Close
% Change
94.55
0.56
 Holdings of the largest silverbacked
exchange-traded-fund
(ETF), New York's iShares Silver
Trust SLV, stood at 10421.95
tonnes, remain unchanged from
previous business day.
ETF HOLDINGS AS ON PREVIOUS CLOSE
ETF
In tonnes
SPDR Holding
iShares Holding
Change
855.89
0
10421.95
0
FOREX MARKET WATCH
Currency
Open
High
Low
Close
Change
%Chg
USD/INR
66.83
67.18
66.83
67.15
0.32
0.47
USD/JPR
109.16
110.28
108.74
109.15
1.06
0.97
EUR/USD
1.13
1.13
1.12
1.13
-0.01
-0.87
FUNDAMENTAL OUTLOOK
Precious metals are trading lower on COMEX today. We expect prices to
trade lower for the day as the dollar stood tall after minutes from the Federal
Reserve policy meeting showed the U.S. central bank could raise rates as
soon as next month.
http://www.nirmalbang.com
|Daily Commodity Outlook
1
Commodity Outlook
Precious Metals | Base Metals | Energy
May 19, 2016
BASE METALS
MARKET ROUNDUP
BASE METALS MARKET WATCH
Base Metals
Contract
Open
High
Low
Close
Change
% Chng
MCX Copper Rs.
JUN6
310
311.55
306.05
311.1
-0.2
-0.06
LME Copper $
3M
4595
4617
4590
4612.5
-44.5
-0.96
MCX Zinc Rs.
MAY6
125.75
126.5
124.9
126.4
-0.15
-0.12
LME Zinc $
3M
1895
1890
1888
1888
-15.5
-0.81
MCX Nickel Rs.
MAY6
582.5
585
576.2
581
-6.4
-1.09
LME Nickel $
3M
8650
8645
8620
8635
-160
-1.82
MCX Lead Rs.
MAY6
114.95
115.25
113.8
114.4
-0.55
-0.48
LME Lead $
3M
1708
1707
1702.5
1703
-19
-1.10
MCX Aluminum
MAY6
102.9
104.4
102.6
104.3
1.15
1.11
LME Aluminum
3M
1545
1556
1541.5
1551.5
6.5
0.42
SHANGHAI MARKET WATCH
Metals
INDICES
Close
Change
% Chg
Index
Aluminum
12440
25
0.20
Baltic Dry Index
Copper
35540
-170
-0.48
CRB Index
Zinc
15055
-30
-0.20
DJ Commodity
LME WAREHOUSE STOCK
Metals
Prev.
Net
Close
Change
642
-1
2413.97
-32.45
-
-
INDICES
Total
Metals
L/W*
C/W*
Change
Copper
156750
100
156850
Copper
124675
32175
175
Zinc
389475
-1000
388475
Zinc
365000
23475
-1000
Nickel
405858
-1680
404178
Nickel
281790
122388
-1488
Lead
175650
4800
180450
Lead
105900
74550
-850
Aluminium
2575725
-4600
2571125
Aluminium
1514475
1056650
-4550
FUNDAMENTAL OUTLOOK
Industrial metals are trading lower on International bourses today. We
expect prices to trade lower for the day, pushed down by a stronger dollar
after the U.S. Federal Reserve signalled a possible rate hike as soon as next
month.
http://www.nirmalbang.com
Industrial metals prices slid to its
lowest in three months on
Wednesday, pressured by the dollar
which
rose
on
renewed
expectations of further U.S. interest
rate hikes.
IN FOCUS
 Antofagasta said on Wednesday it
had signed an accord with a
community
that
has
longopposed the tailings dam at its
Los Pelambres flagship copper
mine in Chile to bring their
protests to an end, but not all the
protesters said they were on
board.
 Brazilian miner Vale has had a
minor acid leak at its Goro nickel
operations in New Caledonia, the
government of the French Pacific
territory said, two years after a
large chemical discharge at the
same
site
sparked
violent
protests.
 Peruvian presidential contender
Keiko Fujimori said it would take
"many years" for Southern
Copper Corp to regain the trust of
farmers, which she said is part of
the community support she
considers critical to developing
the company's $1.4 billion Tia
Maria copper project.
|Daily Commodity Outlook
2
Commodity Outlook
Precious Metals | Base Metals | Energy
May 19, 2016
ENERGY
MARKET ROUNDUP
ENERGY MARKET WATCH
Energy
Contract
Open
High
Low
Close
Change
% Chng
MCX Crude
MAY6
3195
3234
3180
3208
29
0.90
NYM Crude
JUN6
48.53
48.95
47.75
48.19
-0.12
-0.25
MCX Natgas
MAY6
136.2
139.6
136
137.4
1.3
0.96
NYM Natgas
JUN6
2.05
2.06
1.99
2.00
-0.05
-2.29
INDICES
IN FOCUS
EXCHANGE VOLUME
Exchange
Index
Close
Change
Dirty Tanker Index
740
4
MCX
23662.69
Clear Tanker Index
470
1
NCDEX
2631.15
Volume (in crores)
ENERGY INDICATORS
Date
Time
Energy Data
Country
Prior
Consensus
Actual
18May
8.00pm
Crude Stock
U.S.
-3.410
-2.833
1.31
18May
8.00pm
Gasoline Stock
U.S.
-1.231
-0.150
-2.496
18May
8.00pm
Distillate Stock
U.S.
-1.647
-0.642
-3.17
18May
8.00pm
U.S.
-0.6
1.4
18May
8.00pm
U.S.
1.520
0.461
18May
8.00pm
Refinery Utilisation
Stocks at Cushing
Oklahama
Natural Gas
Inventory
U.S.
56
78
FUNDAMENTAL OUTLOOK
Crude oil is trading lower on NYMEX today. We expect prices to trade lower
for the day, pulled down by rising U.S. crude inventories, a stronger dollar
and surging output from Iran to Europe and Asia.
http://www.nirmalbang.com
Crude oil prices retreated from 2016
highs and snapped a two-day rally
on Wednesday, hurt by a surge in
the dollar after the U.S. Federal
Reserve signalled it could raise
interest rates next month.
 U.S. crude oil stockpiles rise
unexpectedly last week even as
gasoline and distillate inventories
fell more than expected, data
from the Energy Information
Administration
showed
on
Wednesday.
 The sudden surge north of the
massive wildfire burning in
Canada's oil sands region has
dealt a new setback to producers,
triggering a second round of
evacuations
and
threatening
work camps north of Fort
McMurray.
 Japan's Idemitsu Kosan Co Ltd
said it would refine nearly
463,000 barrels per day (2.28
million kilolitres) of crude oil in
May, up 43 percent from a year
earlier when volumes were low
due to scheduled maintenance at
its main refinery in Chiba.
 North Sea crude output is set to
fall for a fourth month in June
from a four-year high, loading
programmes
indicated,
tightening supplies in the home
of the Brent benchmark.
|Daily Commodity Outlook
3
Commodity Outlook
Precious Metals | Base Metals | Energy
May 19, 2016
RESEARCH TEAM
NAME
DESIGNATION
E-MAIL
Kunal Shah
Head of Research
kunal.shah@nirmalbang.com
Devidas Rajadhikary
Sr. Technical Analyst
devidas.rajadhikary@nirmalbang.com
Harshal Mehta
Sr. Technical Analyst
harshal.mehta@nirmalbang.com
Mohammed Azeem
Technical Analyst
mohammed.gaziani@nirmalbang.com
Ravi D’souza
Research Analyst
ravi.dsouza@nirmalbang.com
Nikhil Murali
Research Associate
nikhil.murali@nirmalbang.com
Anish G
Research Associate
anish.g@nirmalbang.com
Smit Bhayani
Research Associate
smit.bhayani@nirmalbang.com
Disclaimer:
This Document has been prepared by N.B. Commodity Research (A Division of Nirmal Bang Commodities Pvt.
Ltd). The information, analysis and estimates contained herein are based on N.B. Commodities Research
assessment and have been obtained from sources believed to be reliable. This document is meant for the use of
the intended recipient only. This document, at best, represents N.B. Commodities Research opinion and is
meant for general information only. N.B. Commodities Research, its directors, officers or employees shall not in
any way be responsible for the contents stated herein. N.B. Commodities Research expressly disclaims any and
all liabilities that may arise from information, errors or omissions in this connection. This document is not to be
considered as an offer to sell or a solicitation to buy any securities. N.B. Commodities Research, its affiliates
and their employees may from time to time hold positions in securities referred to herein. N.B. Commodities
Research or its affiliates may from time to time solicit from or perform investment banking or other services for
any company mentioned in this document.
Address: Nirmal Bang Commodities Pvt. Ltd., B2, 301 / 302, 3rd Floor, Marathon Innova, Opp. Peninsula
Corporate Park, Ganpatrao Kadam Marg, Lower Parel (W), Mumbai - 400 013, India
http://www.nirmalbang.com
|Daily Commodity Outlook
4