Base Metals
COPPER
Copper futures fell in the domestic market on Monday as investors and speculators exited positions in the industrial metal as fresh stimulus from policymakers in China failed to alleviate concerns over a worsening slowdown in the world’s biggest metals consumer that threatens to cut copper demand.China’s central bank cut the amount of funds that banks in China need to set aside as reserves by 1 percentage point or 100 basis points to 18.5 percent in response to last week’s data which showed the slowest pace of growth since the Global Financial Crisis last quarter while gains in factory output and retail sales weakened. At the MCX copper futures for April 2015 contract were trading at Rs. 382.3 per 1 kg, down by 0.44 percent, after opening at Rs. 386.1, against the previous closing price of Rs. 384. It touched the intra-day low of Rs. 382.15 till the trading.
Agro Outlook
CHANA
Chana prices closed lower by 1.82 percent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for April 2015 contract closed at Rs. 4,035 per quintal, down by 1.82 percent, after opening at Rs. 4,056 against the previous closing price of Rs. 4,110. It touched the intra-day low of Rs. 4,022.
Chana prices closed lower by 1.82 percent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for April 2015 contract closed at Rs. 4,035 per quintal, down by 1.82 percent, after opening at Rs. 4,056 against the previous closing price of Rs. 4,110. It touched the intra-day low of Rs. 4,022.
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