10-Mar-2015 Copper closed higher

Shriram Market Analysis
& Research Team
C O M M O D I T YREPORT
10 March 2015
ECONOMIC/GLOBAL NEWS

China's consumer inflation rose 1.4% in February from a year earlier.
The CPI also increased 1.2% in February from January. Producer price
index dropped 4.8% in February from a year earlier. The PPI also
declined 0.7% in February from January.

Eurozone investor confidence index for March rose to 18.6 from 12.4 in
February. This was the highest score since August 2007.

Germany's exports dropped by a worse-than-expected 2.1% monthon-month in January. Imports fell 0.3% from December. As a result, the
trade surplus fell to a seasonally adjusted EUR 19.7 billion from EUR
21.6 billion in the prior month.
Market Update

U.S. stocks ended Monday's session modestly higher, but still below
record levels set last week, as Wall Street marked the sixth
anniversary of the bull market. The S&P 500 gained 8.17 points, or
0.4% to 2,079.43. The Dow Jones Industrial Average added 138.94
points, or 0.8%, to 17,995.72. The Nasdaq Composite rose 15.07
points, or 0.3%, to 4,942.

Indian market ended near one-month low, tracking global markets, with
Bank and IT leading the decline. Further, fears of foreign fund outflows
in the short term amid sooner-than-expected hike interest rates by the
U.S. Fed in wake of robust jobs data also dampened sentiment.
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.........Investing
Index
Dow
Nifty
Sensex
USD/INR
Dollar Index
Euro/$1US
$1US/Yen
Pound/$1US
09-March-15 06-March-15 Pts. Ch.
17995.72
8756.75
28844.78
62.633
97.58
1.0852
121.16
1.5129
17857.78
CLOSED
CLOSED
62.460
97.60
1.0844
120.84
1.5037
137.94
0.17
-0.02
0.0008
0.32
0.0092
% Change
0.77
0.28
-0.02
0.07
0.26
0.61
Currency Update

The dollar weakened Monday as traders bought back pounds
and euros at lower levels following sharp falls in the value of
those currencies on Friday. The euro rose off a 12-year low to
trade at $1.0853, compared with $1.0844 Friday. The pound
traded at $1.5126, compared with $1.5037. The dollar inched
higher against the yen, trading at ¥121.14, compared with
¥120.81 Friday. The ICE U.S. Dollar Index was flat at 97.63.

The Indian rupee today fell to two-month low and closed with a
sharp 39 paise loss at 62.55 against the US dollar after betterthan-expected jobs data spurred expectations of an early hike
in US interest rates. At the Interbank Foreign Exchange (Forex)
market, the Indian rupee opened lower at 62.60 against last
Thursday's close of 62.16. It declined further to a two-month
low of 62.7350 -- a level not seen since January 8, 2015 when it
touched an intra-day low of 63.20. Later, it recovered some
ground to touch a high of 62.53 before concluding at 62.55, still
showing a fall of 39 paise or 0.63 per cent.
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C O M M O D I T YREPORT
10 March 2015
PRECIOUS METALS

Gold prices gained, the April prices ended the day at Rs 26024 per 10
grams on 9 March 2015 against Rs 26012 per 10 grams on 6 March
2015. May Silver closed at Rs. 35914 per 1 kg, down 0.16%.

Greece's financial saga helped gold futures settle higher for the first
time this month, with the precious metal benefiting on Monday from
haven-related buying interest on renewed worries about Athens's
ability to fund itself. Gold futures for April delivery on Comex rose $2.20,
or 0.19%, to settle at $1,166.50 an ounce. May silver fell 3.1 cents, or
0.2%, to settle at $15.776 an ounce.
Open Interest
Closing
Bullion
Gold April MCX
Gold April Comex
Silver May MCX
Silver May Comex
Open
26073
1170
36000
15.930
Bullion
( Technical )
Gold April MCX
Gold April Comex
Silver May MCX
Silver May Comex
High
26129
1174
36188
15.960
Low
26001
1165
35838
15.705
09-Mar-15
26024
1167
35914
15.776
06-Mar-15
26012
1164
35972
15.807
% Ch
0.05
0.19
-0.16
-0.20
09-Mar-15
9769
251675
12935
105391
% Ch
-2.38
0.27
4.58
2.15
Close Price
Sup-3
Sup-2
Sup-1
Pivot Point
Res -1
Res -2
Res -3
26024
1167
35914
15.776
25846
1153
35422
15.412
25923
1159
35630
15.559
25974
1163
35772
15.667
26051
1169
35980
15.814
26102
1172
36122
15.922
26179
1178
36330
16.069
26230
1182
36472
16.177
Holdings In Tonnes As On
Name of the ETF
06-Mar-15
10007
251003
12368
103170
09-Mar-2015
06-Mar-2015
%Ch
09-Mar-2015
Ratio
Close
SPDR Gold ETF
753.04
756.32
-0.43
Gold v/s Silver
iShares Silver Trust
10181.17
10181.17
0.00
Gold v/s Crude Oil
1166.50
1166.50
Ratio
Close
15.776
50.00
73.94
23.33
OUTLOOK OF PRECIOUS METALS
Likely to remain range-bound with negative bias. Trade tracking support and resistance.
Smart
.........Investing
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C O M M O D I T YREPORT
10 March 2015
BASE METALS
 MCX Copper April expiry contract closed higher. Copper has been
consolidating the position above Rs 368 and 372 per kg. Copper ended
the day at Rs 374.05 per kg on 9 March 2015 against 366 per kg on 6
March 2015.
 In China, the world's top metals consumer, equities fell as investors
digested comments by top officials that highlighted the growth and debt
challenges the country faces in 2015. Investors seemed to shrug off
potentially bullish news that major producer Alcoa said it was reviewing
500,000 tonnes or 14 per cent of its smelting capacity. China's imports of
commodities eased again in February, as the Lunar New Year holiday
took a bite out of shipping volumes, preliminary customs data showed on
Sunday. Copper imports, at 280,000 tonnes in February, slowed by
nearly a third from January and were down more than a quarter from a
year earlier.
LME Inventories (In Tonnes)
Base Metals
Aluminum
Copper
Nickel
Lead
Zinc
09-Mar-2015
06-Mar-2015
3916125
326050
431856
214125
543750
3911775
323050
431952
213950
547075
Base Metals
( Closing )
21-Mar-12
Base Metals
( Technical )
Aluminium ( March )
Copper ( April )
Nickel ( March )
Lead ( March )
Zinc ( March )
% Change
4350
3000
-96
175
-3325
0.11
0.93
-0.02
0.08
-0.61
20-Mar-12
06-Mar-15
09-Mar-15
LME Aluminium ( Spot )
LME Aluminum (3 Month Forward )
MCX Aluminium ( March )
LME Copper ( Spot )
LME Copper ( 3 Month Forward )
MCX Copper ( April )
LME Nickel ( Spot )
LME Nickel ( 3 Month Forward )
MCX Nickel ( March )
LME Lead ( Spot )
LME Lead ( 3 Month Forward )
MCX Lead ( March )
LME Zinc ( Spot )
LME Zinc ( 3 Month Forward )
MCX Zinc ( March )
Change
1760.00
1774.50
112.00
5799.50
5770.00
374.05
14395.00
14450.00
911.40
1814.00
1816.00
115.70
2004.50
2025.00
128.30
1784.00
1795.00
111.95
5826.00
5804.00
366.00
14075.00
14125.00
904.20
1804.00
1807.00
114.55
1994.00
2015.00
126.70
%Change
%Change
-1.35
-1.14
0.04
-0.45
-0.59
2.20
2.27
2.30
0.80
0.55
0.50
1.00
0.53
0.50
1.26
Close Price
Sup-3
Sup-2
Sup-1
Pivot Point
Res -1
Res -2
Res -3
112.00
374.05
911.40
115.70
128.30
109.80
357.30
873.40
112.00
125.10
110.40
360.80
884.50
112.80
125.80
111.20
367.40
897.90
114.30
127.10
111.80
370.90
909.00
115.10
127.80
112.60
377.50
922.40
116.50
129.00
113.20
381.00
933.50
117.30
129.70
114.00
387.60
946.90
118.80
131.00
OUTLOOK OF BASE METALS
Likely to remain range-bound with negative bias. Trade tracking support and resistances.
Smart
.........Investing
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C O M M O D I T YREPORT
10 March 2015
ENERGY

Crude Oil ended higher after slow momentum witnessed in last week.
The March prices settled at Rs 3163 per barrel against Rs 3138 per
barrel a day before. March Natural Gas closed at Rs. 170.10 per British
thermal unit, down 4.81%.

Crude-oil futures settled higher, with prices finding footing at $50 a
barrel after steep declines late last week due to a stronger dollar and
rising U.S. oil supplies. On the New York Mercantile Exchange, crude for
delivery in April climbed 39 cents, or 0.79%, to settle at $50 a barrel. April
natural gas settled at $2.678 per million British thermal units, down 16
cents, or 5.67%.
API Inventories Forecast
American Petroleum Institute (API), expects crude stocks seen up by 4.2
million barrels for the week to March 06. Gasoline inventories were seen
down by 2 million barrels. Distillate stocks, which include heating oil and
diesel fuel, are projected to have fallen by 2.6 million barrels.
Open Interest
Closing
ENERGY
Crude Oil March MCX
Crude April Nymex
Natural Gas March MCX
Natural Gas April Henry Hub
ENERGY
( Technical )
Crude Oil March MCX
Crude April Nymex
Natural Gas March MCX
Natural Gas April Henry Hub
Open
3120
49.60
176.30
2.775
High
3197
50.79
176.30
2.778
Low
3103
49.28
169.40
2.668
09-Mar-15
3163
50.00
170.10
2.678
06-Mar-15
3138
49.61
178.70
2.839
% Ch
0.80
0.79
-4.81
-5.67
09-Mar-15
26874
302172
10438
194318
06-Mar-15
25493
354820
8138
219242
% Ch
5.42
-14.84
28.26
-11.37
Close Price
Sup-3
Sup-2
Sup-1
Pivot Point
Res -1
Res -2
Res -3
3163
50.00
170.10
2.678
3018
47.75
160.67
2.528
3060
48.51
165.03
2.598
3112
49.26
167.57
2.638
3154
50.02
171.93
2.708
3206
50.77
174.47
2.748
3248
51.53
178.83
2.818
3300
52.28
181.37
2.858
OUTLOOK OF ENERGY
Likely to remain range-bound. Trade tracking support and resistance.
Smart
.........Investing
Enquiry : +91 33 2359 4612, +91 33 2359 4614, +91 33 2358 1953, E-mail : [email protected]
C O M M O D I T YREPORT
10 March 2015
ECONOMIC CALENDER
Time
5:31:00 AM
6:00:00 AM
6:00:00 AM
7:00:00 AM
7:00:00 AM
7:00:00 AM
1:15:00 PM
7:30:00 PM
Country
U.K.
Australia
Australia
China
China
China
France
U.S.
Tuesday March 10, 2015
Event
BRC Retail Sales Monitor (YoY) (Feb)
NAB Business Confidence (Feb)
NAB Business Survey (Feb)
CPI (MoM) (Feb)
CPI (YoY) (Feb)
PPI (YoY) (Feb)
French Industrial Production (MoM) (Jan)
Wholesale Inventories (MoM) (Jan)
Actual
0.2%
0
2
1.2%
1.4%
-4.8%
Forecast Previous
0.5%
0.2%
3
2
0.8%
0.3%
0.9%
0.8%
-4.3%
-4.3%
-0.3%
1.5%
0.2%
0.1%
D I S C L A I M E R
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