Aluminium Futures Keep Head Above Water

Aluminium futures were trading higher during morning trade in the domestic market on Thursday as investors and speculators extended their positions in the industrial metal amid an increase in physical demand for aluminium at the domestic spot market.

Further, a rise 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 120.40 per kg, up by 0.12 per cent, after opening at Rs 120.50, against a previous close of Rs 120.25. It touched the intra-day high of Rs 120.50 (at 10:27 hours).
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Yellow Metal Inches Up As Equities Fall

Gold futures were trading higher during afternoon trade in the domestic market on Wednesday as investors and speculators extended their positions in the precious metal on safe-haven demand as equities fell and the greenback eased following a plunge in crude oil prices
Further, a renewed drop in oil markets put Asian investors on edge, and pushed down US Treasury yields and the dollar index against a basket of other currencies.
At the MCX, gold futures for August 2017 contract is trading at Rs 28598 per 10 grams, up by 0.25 per cent, after opening at Rs 28590, against a previous close of Rs 28526. It touched the intra-day high of Rs 28634 (at 14:27 hours).
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Rama Steel Tubes Installed A Solar Project At Khopoli

On Monday, Rama Steel Tubes Installed a solar project at Khopali facility, Maharashtra. The project will provide 1000 MWh/ year of energy; this same amount of energy is needed to power the installed and upcoming capacities. The project has a capacity of 750 kW, will generate the same amount of energy needed to power the current as well as the planned upcoming capacity.
Rama Steel Tubes Ltd is focused on Manufacturing and trading of steel and pipes, and also manufacturing and export electric resistance weld (ERW) steel tubes.
On BSE the Rama Steel Tubes were trading higher by 2.4% at Rs 135.65/ share. Its closest peers are APL Apollo Tubes and Ratnamani Metals Tubes.
The stock of the company has delivered returns of more than 35% in a period of a one year and has a outperformed BSE Metal index and underperformed BSE small cap over the same period.
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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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Nickel Futures Gain On Upsurge In Demand

Nickel futures were trading higher during evening trade in the domestic market on Tuesday as investors and speculators extended their positions in the industrial metal on surge in demand as the greenback eased ahead of the US Fed’s policy meeting that kicks off later in the day, which could provide further clues over the timing of interest rate hikes this year.
Further, the central bank is widely expected to raise interest rates at its two-day meeting. Meanwhile, the focus will be on any fresh hints on the pace of further tightening in the months to come and next year, and any further details on its plans for trimming its balance sheet.
At the MCX, nickel futures for June 2017 contract is trading at Rs 564.70 per kg, up by 0.12 per cent, after opening at Rs 564, against a previous close of Rs 564. It touched the intra-day high of Rs 568 (at 16:56 hours).
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Aluminium Futures Keep Head Above Water

Aluminium futures were trading higher during morning trade in the domestic market on Wednesday as investors and speculators build up fresh bets in the industrial metal amid rise in physical demand for aluminium at the domestic spot market. Further, an uptick in physical demand for aluminium at the domestic spot market was led by widening of positions 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 121.55 per kg, up by 0.16 per cent, after opening at Rs 121.60, against a previous close of Rs 121.35. It touched the intra-day high of Rs 121.65 (at 10:58 hours).
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Lead Futures Soar 0.57% As Demand Picks Up

Lead futures were trading higher during morning trade in the domestic market on Wednesday as investors and speculators indulged in building up fresh bets in the industrial metal amid uptick in physical demand for lead, from battery-makers, in the domestic spot market.
Further, a rise 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 132.75 per kg, up by 0.57 per cent, after opening at Rs 132.75, against a previous close of Rs 132. It touched the intra-day high of Rs 132.85 (at 11:02 hours).
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