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					         MTECHTIPS COMMODITY MARKET NEWS 3
MTECHTIPS:-Oil trades modestly lower following API report

Oil futures traded slightly lower during Wednesday’s Asian session following the
release of the American Petroleum Institute’s weekly inventories data. On the
New York Mercantile Exchange, light, sweet crude futures for June deliver fell
0.19% to USD95.44 per barrel in Asian trading Wednesday after settling down
0.36% at USD95.81 a barrel on Tuesday. Positive economic data out of Germany,
the euro zone’s largest economy, helped ignite a rally in European and U.S.
stocks, but that was not enough to lift crude. Official data released earlier
showed that German factory orders climbed 2.2% in March, defying
expectations for a 0.5% decline. Year-over-year, German factory orders fell 0.4%
in March, much better than forecasts for a 2.9% decline. The data came on the
heels of speculation the European Central Bank, which pared interest rates by
25 basis points to 0.50% last week, is open to more rate cuts aimed at bolstering
the floundering euro zone economy. After the close of U.S. markets Tuesday,
the American Petroleum Institute said U.S. oil inventories jumped 680,000
barrels last week. Traders are expecting the more widely followed inventories
report by the U.S. Energy Information Administration due out later Wednesday
to show a gain of 2 million barrels.

MTECHTIPS:-Gold rebounds from previous day’s losses, Chinese demand
supports

Gold futures edged higher on Wednesday, as investors returned to the market
following the previous day’s sell-off and amid indications of surging demand for
the precious metal in China, the world's second largest gold consumer. On the
Comex division of the New York Mercantile Exchange, gold futures for June
delivery traded at USD1,454.75 a troy ounce during European morning hours, up
0.4% on the day. Comex gold prices rose by as much as 0.6% earlier in the
session to hit a daily high of USD1,457.95 a troy ounce. Gold prices were likely
to find support at USD1,439.75 a troy ounce, the low from May 1 and near-term
resistance at USD1,487.15, the high from May 3. Gold futures lost more than 1%
on Tuesday, as investors sold the precious metal amid a weak technical
outlook. Gold prices rose to a two-week high of USD1,487.15 a troy ounce last
Friday, nearly erasing all of its losses following the massive sell-off in
April. Comex gold fell to a 27-month low of USD1,322.25 an ounce on April
16. However, the precious metal failed to revisit the key psychological
USD1,500-level on numerous attempts, indicating chart signals remain
bearish. Meanwhile, official data released earlier showed that China's gold
imports from Hong Kong surged to a record high of 223.52 tonnes in March, up
from 97.11 tonnes in February.

MTECHTIPS:-Crude oil futures little changed ahead of U.S. supply data

Crude oil futures swung between modest gains and losses on Wednesday, as
investors looked ahead to closely-watched weekly supply data on stockpiles of
crude and refined products from the U.S. Energy Information Administration
later in the day. On the New York Mercantile Exchange, light sweet crude
futures for delivery in June traded at USD95.70 a barrel during European
morning trade, up 0.1% on the day. New York-traded oil prices held in a range
between USD95.38 a barrel, the daily low and a session high of USD95.97 a
barrel. Oil prices were supported following the release of positive trade data
out of China. Chinese imports and exports rose more than expected in April,
official data on Wednesday showed, indicating that the outlook for economic
growth remains good. China's exports rose 14.7% year-on-year last month,
while imports grew 16.8%, bringing the country’s trade surplus to USD18.6
billion for the month, above expectations for a surplus of USD 15.05 billion. Oil
traders now looked ahead to data from the U.S. government on oil and fuel
supplies later in the day to gauge the strength of demand from the world’s
largest oil consumer. The report was expected to show that U.S. crude oil
stockpiles increased by 1.9 million barrels last week, while gasoline inventories
were forecast to fall by 0.4 million barrels.

MTECHTIPS:-Silver little changed; prices remain vulnerable to further selling

Silver futures were little changed on Wednesday, as investors remained hesitant
to return to the market amid a bearish technical outlook. On the Comex division
of the New York Mercantile Exchange, silver futures for July delivery traded at
USD23.82 a troy ounce during European morning trade, little changed on the
day. Comex silver prices held in a range between USD23.75 a troy ounce, the
daily low and a session high of USD24.00 a troy ounce. Silver prices were likely
to find support at USD23.40 a troy ounce, the low from May 2 and near-term
resistance at USD24.41, Monday’s high. Silver prices were supported following
the release of positive trade data out of China. Chinese imports and exports
rose more than expected in April, official data on Wednesday showed,
indicating that the outlook for economic growth remains good. China's exports
rose 14.7% year-on-year last month, while imports grew 16.8%, bringing the
country’s trade surplus to USD18.6 billion for the month, above expectations for
a surplus of USD 15.05 billion. Elsewhere on the Comex, gold for June delivery
tacked on 0.3% to trade at USD1,453.35 a troy ounce, while copper for July
delivery climbed 0.85% to trade at USD3.330 a pound.

MTECHTIPS:-Copper futures hold near 3-week high after positive China trade
data

Copper futures traded just below the previous session’s three-week high on
Wednesday, as sentiment on the industrial metal was boosted following the
release of positive trade data out of China.The Asian nation is the world’s
largest copper consumer, accounting for almost 40% of world consumption last
year. On the Comex division of the New York Mercantile Exchange, copper
futures for July delivery traded at USD3.327 a pound during European morning
trade, up 0.7% on the day. New York-traded copper prices rose by as much as
1% earlier in the session to hit a daily high of USD3.339 a pound. On Tuesday,
Comex copper prices hit USD3.344 a pound, the strongest level since April
15. Copper prices were supported following the release of positive trade data
out of China. Chinese imports and exports rose more than expected in April,
official data on Wednesday showed, indicating that the outlook for economic
growth remains good. China's exports rose 14.7% year-on-year last month,
while imports grew 16.8%, bringing the country’s trade surplus to USD18.6
billion for the month, above expectations for a surplus of USD 15.05 billion.

				
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Description: MTECHTIPS COMMODITY MARKET NEWS 2 MTECHTIPS:-China March Gold imports from HK more than double to 223.52 tons The world's second biggest economy is ebullient about gold purchase as data shows that China's imports of yellow metal from Hong Kong more than doubled in the month of March to touch 223.52 metric tons, including scrap.This is compared to 97.1 tons in February and 62.91 tons in March 2012.Meanwhile, the net imports-- arrived at deducting metal's flows from China into Hong Kong--of mainland China stood at 130.03 tons in comparison to 60.95 tons in February 2013. Also, China's exports of gold to Hong Kong stands at 93.5 tons in March, a surge from 36.16 tons in February. This is when compared with 32.5 tons in March 2012.The shipments preceded the dip in gold prices in April, 2013.“This is quite out of expectation as all these imports were done before the market slump in April,” said Qu Mingyu, a trader at Bank of China to Bloomberg.“Judging from the explosive growth of trading volume on theShanghai Gold Exchange in the second half of April, and anecdotes that many jewelry shops are sold out throughout the country, imports might be even more substantial in April,” he added.The spot contract volumes in Shanghai exchange also climbed to 323 tons spanning the period between April 16 and May 3. Volumes touched a record figure of 43,272 kilograms on April 22. MTECHTIPS:-MCX Copper trend positive, resistance at 399 and 402 levels Chinese copper imports providing for a subdued picture, the futures on the MCX as well as on the Comex is trading mild. Base Metals on India's MCX opened marginally negative. Overall trend for metal prices looks sideways positive, according to our analyst.MCX copper June futures may touch 399 and 402 levels, even as on the lower side prices have support of 392.4 and 390 levels . Copper imports to China registered a dip of 7.4% in April month-on-month to hit a low in almost two years as Port strikes in Chile delayed shipments. The arrivals o