Nickel prices have remained under pressure for past one month largely on back of tussle between Malaysia and London Metal Exchange (LME) over a new goods and services tax on metals traded or stored in the country’s bonded zones before April 1 deadline, the deputy finance minister said on Tuesday. The […]
It’s been a while since we saw a rush, a panic in commodity market. Such euphoria was witnessed on 1st December 2014 when bulls suddenly took charge of counters across the commodity ecosphere. Precious metals and Copper amongst base metals seemed the most delicious dish served to the bulls in […]
WTI Crude Oil prices jumped yesterday by more than 8% to test $52/bbl on the upside. As previously mentioned in our article, we expect a near term bounce from these levels. North Dakota’s drilling rig count has been continuously falling and dropped below 100 – a level not seen for […]
Fundamental outlook for commodity counters is changing course once again. The continued lower crude oil prices invigorating fresh demand statistics for the global economy. Lead prices are first among the commodity ecosphere to witness the development. MCX Lead prices have bounced more than 6% past two trading sessions.
The long standing global political debate on Iranian nuclear program again took centre stage as the world powers discuss to phase out ten years old economic sanctions against Iran. US officials have warned that Iran must make tough choices to alleviate fears of its nuclear program in the mind of […]
Organization of the Petroleum Exporting Countries (OPEC) in its monthly report keeps world crude oil demand growth forecast for 2015 as unchanged at 1.17 Mbpd. OPEC also corrected demand for its oil by a mild margin at 29.19 Mbpd from previous forecast at 29.21 Mbpd. The bulletin is released after […]
International Energy Agency in its monthly bulletin released today raised red flag as global oil supply glut is worsening as US oil production is continuing to be strong. The global power house may soon run out of spare capacity to store crude which would lend additional downward pressure on prices, […]
The largest refinery strike in US history following a stiff between the United Steelworkers Union and Oil companies has finally reached a new deal on Thursday. However the clauses in the agreement still needs to be ratified by union members.
US Non Farm Payrolls data on Friday boosted the expectations of fresh rate hike debate as early as mid 2015. The NFP data came at a whopping 295,000 while Unemployment rate falling to 5.5%. Spot Gold was the biggest victim of the strong US data falling by over $36/oz to […]
China’s Premier, Li Keqiang in his address at the opening of parliamentary meeting in Beijing admitted that China would face slower economic growth as it tackles “deep-seated” economic problems. This is the first time Li professed that the problems are much profound and deep rooted. He was addressing around 3,000 […]