stratStrator 1 sstratarinistratZ9 16th February 2010 MORNING MANTRA (METALS & ENERGY) NEWS ROUND UP o The Bank of Japan will probably refrain from easing monetary policy further at a board meeting this week because the recovery remains intact even as deflation intensifies, economists said. o European finance ministers are prepared to impose deeper deficit cuts on Greece and refused to say how they would make good on a pledge to rescue the nation if it can’t finance its debt. o Gold gained for a second day on speculation the dollar may weaken as investors await the measures the European Union may take to rescue debt-laden Greece. o Copper climbed in London as accelerating growth in Japan, the world’s fourth-largest consumer of the metal, may support demand for metals. th MOVEMENTS IN INTERNATIONAL EXCHANGES AS ON 12 February 2010 COMMODITY EXCHANGE CONTRACT UNIT CLOSING %CHANGE BULLIONS GOLD COMEX APR USD/TROY OUNCE 1,090.00 -0.43 SILVER COMEX MAR USD/OUNCE 15.447 -0.92 PLATINUM COMEX FEB USD/TROY OUNCE 1,507.30 -0.54 BASE METALS COPPER COMEX MAR USD/POUND 3.0825 -1.63 ZINC SHFE MAY YUAN/TONNE 18345.00 1.49 COPPER SHFE MAY YUAN/TONNE 56410.00 1.84 ALUMINIUM SHFE MAY YUAN/TONNE 16825.00 1.11 LME * COPPER LME 3 MONTHS USD/TONNE 6855.00 1.18 ALUMINIUM LME 3 MONTHS USD/TONNE 2066.00 1.55 ZINC LME 3 MONTHS USD/TONNE 2200.00 3.29 LEAD LME 3 MONTHS USD/TONNE 2150.00 2.38 NICKEL LME 3 MONTHS USD/TONNE 19070.00 3.08 TIN LME 3 MONTHS USD/TONNE 16425.00 1.42 ENERGY CRUDE OIL NYMEX MAR USD/BARREL 74.13 -1.53 NATURAL GAS NYMEX MAR USD/MMBTU 5.468 1.33 CURRENCY CLOSING DOLLAR INDEX (MAR) 80.41 0.39 EURO/ USD (MAR) 1.36145 -0.53 * Closing as on 15.02.10 th MOVEMENTS IN MCX AND NCDEX AS ON 15 February 2010 COMMODITY EXCHANGE CONTRACT UNIT CLOSING % CHANGE BULLIONS GOLD MCX APR INR / 10 GM 16605 0.62 SILVER MCX MAR INR /1KG 24529 0.29 BASE METALS COPPER MCX FEB INR /1KG 317.70 0.89 ALUMINIUM MCX FEB INR /1KG 94.60 -0.05 ZINC MCX FEB INR /1KG 101.80 1.39 LEAD MCX FEB INR/1KG 101.25 3.11 NICKEL MCX FEB INR /1KG 893.90 3.76 NEW STEEL NCDEX FEB INR /MT 317.70 -2.50 LONG ENERGY CRUDE OIL MCX FEB INR /1BARREL 3432 -0.03 NATURAL GAS MCX FEB INR /1MMBTU 254.20 0.08 CURRENCY CLOSING % CHANGE INR/ 1 DOLLAR MCX (FEB. CONTRACT) 46.34 -0.41 INR/ 1 EURO (RBI REFERENCE RATE) 63.00 -1.59 th STOCK POSITIONS AT LME WAREHOUSES AS ON 15 February 2010 LME CLOSING STOCK LME COMMODITY +/- CANCELLED POSITION WARRANT WARRANT Copper 549125 1350 532500 16625 Aluminium 4550025 -5775 4276625 273400 Nickel 165084 -378 159696 5388 Zinc 499825 0 495700 4125 Lead 159200 -25 144800 14400 Tin 26215 -190 24500 1715 Note: LME WARRANT: - A document of possession, issued by the warehouse company, for each lot of LME approved metal held within an LME approved facility. Warrants are used as the means of delivering metal under LME contracts. LME CANCELLED WARRANT: - Change in stockpiles of metal, which may no longer be available at warehouses and is booked for removal or onward shipment. This information is a valuable indicator of consumption trends, which in turn can provide valuable information in price trends. Yesterday results of key U.S economic releases Indicator Period Forecast Previous Actual - - - - - - - - - - Market Update Gold prices held steady above $1,100 per ounce on Tuesday as investors remained risk averse on concern about Greece's fiscal crisis, but trading was subdued with many Asian players away for the Chinese new year. There were few market participants in Asia as many markets were closed for the Lunar New Year holiday, meaning price moves were exaggerated. Hong Kong and Singapore markets resume trading on Wednesday, but markets in mainland China will be closed until next Monday. Investment flows were slow, with holdings at the world's largest gold-backed exchange-traded fund, SPDR Gold Trust unchanged at 1,106.378 tonnes as of Feb. 15. The holdings have remained steady since Feb. 5. U.S. crude futures were steady above $74 a barrel on Tuesday in thin trade, with much of Asia still off for the Lunar New Year, following public holidays in the United States and Asia the previous day. There was no settlement price on Monday because the New York Mercantile Exchange was closed for the U.S. President's Day holiday. Oil is likely to hold in its current price range during today session, although some upward movement could be possible in later part of the day. 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