Base Metals & Energy
Zinc prices rose by 0.76 percent on Monday at the domestic markets on hopes that China, the world’s biggest metals consumer, may accelerate stimulus to help spur economic growth also supported zinc, as the country’s imports and exports slid in March, prompting further policy easing bets. Zinc futures for April 2015 contract, at MCX, were trading at Rs 138.50 per kg, up by 0.76 percent after opening at Rs. 137.25 against the previous closing price of Rs. 137.45. It touched the intra-day high of Rs. 138.75 till the trading.
Natural Gas futures ended lower in the domestic and overseas market on Friday as investors and speculators exited positions in the energy commodity amid speculation that the end of the winter heating season may cut the demand outlook for the weather-sensitive fuel. The onset of the spring season in the US, the world’s biggest fuel consumer, means seasonal temperatures, curbing the need for heating offices or homes. About 49% of US households use natural gas for heating purposes. At the MCX, Natural Gas futures for April 2015 contract closed at Rs 157.90 per 1 kg, down by 0.44 percent after opening at Rs 159.4, against the previous closing price of Rs 158.6. It touched the intra-day low of Rs 157.6 till the closing.
Agro Outlook
Coriander prices fell by 0.46 percent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the adequate stocks availability in the physical market put pressure on coriander prices. At the NCDEX dhaniya futures for April 2015 contract were trading at Rs. 9,080 per quintal, down by 0.46 percent, after opening at Rs. 9,116 against the previous closing price of Rs. 9,122. It touched the intra-day low of Rs. 9,025 till the trading.
Castor Seed prices rose by 0.03 percent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At the NCDEX, castor seed futures for April 2015 contract were trading at Rs. 3,705 per quintal tonnes, up by 0.03 percent, after opening at Rs. 3,703 against the previous closing price of Rs. 3,704. It touched the intra-day high of Rs. 3,731 till the trading.
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