Aluminium Futures Keep Head Above Water

Aluminium futures were trading higher during morning trade in the domestic market on Tuesday as investors and speculators extended their positions in the industrial metal amid uptick in physical demand for aluminium at the domestic spot market.
Further, a surge in physical demand for aluminium at the domestic spot market was led by building up of fresh bets by traders in the spot markets, supported aluminium prices at futures trade.
At the MCX, aluminium futures for July 2017 contract is trading at Rs 1074.50 per kg, up by 0.28 per cent, after opening at Rs 1103.60, against a previous close of Rs 1071.50. It touched the intra-day high of Rs 1103.60 (at 10:13 hours).
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Lead Futures Little Changed As Demand Ticks Up

Lead futures were little changed during morning trade in the domestic market on Tuesday as investors and speculators indulged in building up fresh bets in the industrial metal as physical demand picked up for lead, from battery-makers, in the domestic spot market.
Further, a surge in physical demand from battery-makers in the domestic spot market, supported prices of lead at futures trade.
At the MCX, lead futures for June 2017 contract is trading at Rs 137.10 per kg, up by 0.07 per cent, after opening at Rs 137.15, against a previous close of Rs 137. It touched the intra-day high of Rs 137.25 (at 10:16 hours).
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Crude Oil Futures In Reverse Gear

Crude oil futures were trading lower during noon trade in the domestic market on Tuesday as investors and speculators exited their positions in the energy commodity amid persistent signs of rising supply which undermined an OPEC and other producers’ efforts to support prices.
Besides, OPEC supplies jumped in May as output recovered in Libya and Nigeria, 2 countries exempt from the production cut agreement, too influenced crude oil prices. At the MCX, crude oil futures for July 2017 contract is trading at Rs 2878 per barrel, down by 0.62 per cent, after opening at Rs 2882, against a previous close of Rs 2896. It touched the intra-day low of Rs 2875 (at 12:07 hours).
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Uptick In Physical Demand Buoys Aluminium Futures

Aluminium futures were trading higher during morning trade in the domestic market on Monday as investors and speculators extended their positions in the industrial metal amid surge in physical demand for aluminium at the domestic spot market.
Further, an increase in physical demand for aluminium at the domestic spot market was led by building up of fresh bets by traders in the spot markets, supported aluminium prices at futures trade.
At the MCX, aluminium futures for June 2017 contract is trading at Rs 120.85 per kg, up by 0.50 per cent, after opening at Rs 120.75, against a previous close of Rs 120.25. It touched the intra-day high of Rs 120.90 (at 10:30 hours).
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Lead Futures Climb 0.78% As Demand Ticks Up

Lead futures were trading higher during morning trade in the domestic market on Monday as investors and speculators indulged in building up fresh bets in the industrial metal as physical demand picked up for lead, from battery-makers, in the domestic spot market.
Further, a surge in physical demand from battery-makers in the domestic spot market, supported prices of lead at futures trade. At the MCX, lead futures for June 2017 contract is trading at Rs 136.40 per kg, up by 0.78 per cent, after opening at Rs 136, against a previous close of Rs 135.35. It touched the intra-day high of Rs 136.70 (at 10:35 hours).
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Gold Edges Higher, All Eyes On Fed

Gold inched up on Wednesday as the market waited for direction from the outcome of a two-day U.S. Federal Reserve meeting, with the central bank expected to hike interest rates and give indications on its monetary policy for the rest of the year.
The Fed is scheduled to release its interest rate decision at 2 p.m EDT (1800 GMT) on Wednesday, with Chair Janet Yellen due to hold a press conference 30 minutes later.
Higher rates could boost the dollar, making commodities priced in the greenback more expensive for holders of other currencies.
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Oil Prices Fall On OPEC output increase, rising U.S. crude stocks

Oil prices fell on Wednesday after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite its pledge to cut back on output.
Brent crude futures were at $48.41 per barrel at 0652 GMT, down 31 cents, or 0.6 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $46.10 per barrel, down 36 cents, or 0.8 percent.
Crude prices have fallen by more than 10 percent since late May, pulled down by an supply glut that persists despite a move led by the Organization of the Petroleum Exporting Countries (OPEC) to cut production by almost 1.8 million barrels per day (bpd) until the end of the first quarter of 2018.
OPEC’s own compliance with the cuts has been questioned, and the producer group said in a report this week that its output rose by 336,000 bpd in May to 32.14 million bpd.
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