UPDATES OF MCX COPPER, NCDEX JEERA BY RESEARCH VIA

DATE: 09/04/2015

Base Metals 

Copper prices rose by 0.03 percent on Wednesday at the domestic markets as concerns over a disruption to supplies continued to support prices. Chilean state copper commission Cochilco said that the country is expected to produce 5.94 million tons of copper in 2015, down from a previous estimate of 6.0 million tons. Chile produces around a third of the world's copper and is the world's biggest exporter of the metal. At the MCX copper futures for April 2015 contract were trading at Rs. 380.70 per 1 kg, up by 0.03 percent, after opening at Rs. 380 against the previous closing price of Rs. 380.60. It touched the intra-day high of Rs. 382.40 till the trading.

Agro Outlook 

Jeera prices closed higher by 2.81 percent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for April 2015 contract closed at Rs. 15,720 per quintal, up by 2.81 percent, after opening at Rs. 15,450 against the previous closing price of Rs. 15,290. It touched the intra-day high of Rs. 16,150. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.