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| As on Jul 28, 2021 12:00 AM |
Your results on : Mid Session |
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| The International Monetary Fund (IMF) stated in a latest update that global commodity prices are expected to increase at a significantly faster pace than assumed in the April 2021 World Economic Outlook. Amid the strengthening global recovery, oil prices are expected to rise close to 60% above their low base in 2020. Non-oil commodity prices are expected to rise close to 30% above 2020 levels, reflecting particularly strong increases in the price of metals and food. Powered by Commodity Insights |
LME Inventories Data - 27 July 2021. Copper 225225 (0), Aluminium 14,08,000 (-8775), Nickel 217878 (-1302), Lead 61775 (-225), Zinc 247000 (-200). All figures in tonnes, Daily change in bracket.
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UK retail sales continued to expand in July, while orders grew the most since December 2010, the latest Distributive Trades Survey data from the Confederation of British Industry showed on Tuesday. The retail sales balance came in at 23 percent in July, but slightly down from 25 percent in June. The balance was expected to fall to 21 percent. Meanwhile, the order book balance advanced to 49 percent, the highest since December 2010, from 30 percent in June. A net balance of 29 percent of retailers expect sales to increase and a net 39 percent forecast orders to grow in August. Powered by Commodity Insights |
Japan's services producer prices index rose 1.4 percent year-on-year in June, slightly slower than the 1.5 percent increase seen in May, the Bank of Japan reported on Tuesday. On a monthly basis, the services PPI edged up 0.1 percent, offsetting a 0.1 percent drop in the previous month. Excluding international transportations, producer price inflation eased to 1.1 percent year-on-year from 1.4 percent in May. On month, the services PPI gained 0.1 percent. Powered by Commodity Insights |
The yuan slipped to its lowest level in nearly three months as sentiments weakened after China's industrial profits growth moderated in June, data from the National Bureau of Statistics revealed on Tuesday. Industrial profits increased notably by 20 percent on a yearly basis in June, but this was slower than the 36.4 percent growth posted in May. The statistical office said high commodity prices continue to squeeze the profitability of companies. In the first half of 2021, industrial profits logged an annual growth of 66.9 percent, data showed. Compared to January to June 2019, profits of industrial firms advanced 45.5 percent. Besides, sentiment soured after a sharp selloff in the country's equity markets. The Chinese currency weakened to a low of 6.50 per dollar in afternoon trade, the weakest level since April 19. In the meantime, dollar index also ticked marginally higher ahead of the start of the latest U.S. Federal Reserve meeting which could provide clues of future policy action. The dollar index, which tracks the greenback against a basket of six other currencies, traded higher at 92.79, just below last week's 3 1/2-month high of 93.194. Powered by Commodity Insights |
| MCX Cotton futures extended their upward march today as worries over the local cotton produce lifted the sentiments. Cotton planting in current kharif season has been lagging as central and northern parts of the country received less rainfall. The demand is looking supported given the continued slide in daily Covid-19 cases over last few weeks. There are no signs of a pick up in sowing yet and some traders worry that oilseeds will gain more prominence in sowing this season, thereby curtailing the area under crops like Cotton. The latest data showed that Cotton plantings are down 7.62% on year as on 23rd July 2021. The MCX Cotton futures for August surged above Rs 27000 per bale mark today, hitting a fresh contract high of Rs 27100 per bale. It currently trades up 0.60% at Rs 27010 per bale. The counter has rallied nearly Rs 5000 per bale over last two months. Powered by Commodity Insights |
| WTI Crude oil futures edged up in Asia today as equities tried to recover following a string of losses in last few days. The commodity had tumbled near $70.50 per barrel in last session but steady uptick in the US equities had capped the losses. The WTI Crude oil extended this upmove and broke above $72 per barrel today. The US dollar continued to weaken, supporting oil further. Dollar index currently trades flat at 92.65 as investors remained cautious ahead of the US Federal Reserve meets on policy this week. All three major US stock indexes eked out record closing highs for a second straight session on Monday, triggering a good return in risk appetite and pulling up crude oil yet again. The WTI Crude oil futures are currently trading up 0.28% at $72.11 per barrel. MCX Crude oil futures followed global cues and currently trade up 0.35% at Rs 5375 per barrel after hitting a high of Rs 5384 per barrel. Powered by Commodity Insights |
| South Korea's gross domestic product rose by a seasonally adjusted 0.7% on quarter in the second quarter of 2021, the Bank of Korea said in Tuesday's advance estimate. This followed the 1.7% growth in the previous three months. Real gross domestic income (GDI) decreased by 0.6% compared to the previous quarter. On an annualized basis, GDP was up 5.9%, up from 1.9% in the three months prior. Powered by Commodity Insights |
LME Inventories Data - 26 July 2021. Copper 225225 (475), Aluminium 1416775 (-6750), Nickel 219180 (-264), Lead 62000 (-450), Zinc 247200 (-100). All figures in tonnes, Daily change in bracket.
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German business sentiment index fell to 100.8 in July from a revised 101.7 in June, reports said citing survey results from the ifo Institute on Monday. The current conditions index rose to 100.4 from revised 99.7 a month ago. Meanwhile, the business expectations index dropped notably to 101.2 in July from 103.7 in the prior month. Powered by Commodity Insights |
| Large base metals speculators continue to increase their net long positions in the Copper futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 20273 net contracts in the data reported through July 19th 2021. This was a weekly gain of 3294 net contracts and pushed up the net longs to two month high. The commercial traders' position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -27378 contracts, recording a weekly change of -390 net contracts. Powered by Commodity Insights |
| Large precious metals speculators continued to cut their net long positions in the Silver futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Silver futures, traded by large speculators and hedge funds, totaled a net position of 37475 net contracts in the data reported through July 19th 2021. This was a weekly tumble of 6214 net contracts from the previous week and pulled net longs to three month low. The commercial trader's position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -52542 contracts on the week. This was a weekly change of 8326 net contracts. Powered by Commodity Insights |
| According to a latest update from Agricultural Ministry, the total kharif area stood at 721.36 lakh hectares as on 23rd July 2021, marking a drop of around 9% on year. The acreage under primary crop Rice is down nearly 7%. The kharif oilseeds planting has dropped around 10%. The acreage under coarse cereals is also down around 15%. Sugarcane acreage is up marginally while Cotton plantings are down 7.62%. Powered by Commodity Insights |
| Large energy speculators sharply cut their net long positions in the WTI Crude Oil futures market last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of 448740 contracts in the data reported through July 19th 2021. This was a weekly slide of 50356 net contracts and took net longs to around nine month low. The commercial trader's position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -500536 contracts on the week. This was a weekly change of 47019 net contracts. Powered by Commodity Insights |
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