Natural gas futures rise nearly 1% to Rs 199.70 per mmBtu on overseas cues
In the futures market, natural gas for December delivery touched an intraday high of Rs 200.10 and an intraday low of Rs 197.80 per mmBtu on MCX. December 21, 2020 / 03:16 PM IST
Natural gas futures trade higher at Rs 199.70 per mmBtu on December 21 as participants increased their long positions as seen by the open interest. The price of natural gas had risen 3.13 percent last week on the MCX.
The price traded at day’s high after a gap-up opening, supported by the bullish EIA report last week, cold weather and increasing LNG demand.
Natural gas futures rise nearly 2% to Rs 197.50 per mmBtu on positive global cues
In the futures market, natural gas for December delivery touched an intraday high of Rs 197.70 and an intraday low of Rs 195.10 per mmBtu on MCX.
Mumbai / December 18, 2020 / 03:27 PM IST
Natural gas futures jumped to Rs 197.50 per mmBtu on December 18 as participants increased long positions. Natural gas price had declined 1.53 percent yesterday on the NYMEX.
The US Energy Information Administration (EIA) reported that US natural gas inventories dropped by 122 billion cubic feet (bcf) for the week ended December 11.
MCX iCOMDEX Natural Gas Index inched higher 36.98 points or 1.54 percent to 2,437.12.
Copper in unchartered territory as prices hit lifetime high
In the futures market, copper for December delivery touched an intraday high of Rs 610.80 and a low of Rs 605.30 per kg on the MCX.
Mumbai / December 17, 2020 / 06:37 PM IST
Copper prices traded firm at Rs 609.60 per kg on December 17 after hitting a lifetime high of Rs 610.80 during the day on the MCX. The base metal traded in the green in the evening session after a gap up opening on a weaker dollar.
Copper prices were supported by declining inventories at LME and SHFE accredited warehouses and positive economic data from China and the US. Copper stocks are down nearly 30 percent since the middle of October.
Natural gas futures surge 1.33% to Rs 198 per mmBtu in afternoon trade
In the futures market, natural gas for December delivery touched an intraday high of Rs 200.50 and an intraday low of Rs 197.60 per mmBtu on MCX. December 17, 2020 / 04:20 PM IST
Natural gas futures soared to Rs 198 per mmBtu on December 17 as participants increased their long positions as seen by the open interest. Natural gas price had gained 0.2 percent yesterday on the NYMEX.
Natural gas rates traded higher on expectations of a bigger-than-average decline in US gas stocks, tightening US market and record LNG exports.
MCX iCOMDEX Natural Gas Index inched higher by 32.05 points or 1.33 percent to 2,450.68.
Crude palm oil futures firm at Rs 925.50 per 10 kg
In the futures market, Crude Palm Oil (CPO) for December delivery touched an intraday high of Rs 929.70 and an intraday low of Rs 917.20 per 10 kg on MCX.
Mumbai / December 17, 2020 / 03:45 PM IST
Crude palm oil futures traded firm at Rs 925.50 per 10 kg on December 17. Malaysian palm oil futures jumped 1.15 percent to settle at 3,404 Ringgits on Bursa Malaysia Bhd.
Malaysian Palm Oil Board (MPOB) reported Malaysian palm oil stock at 15.64 lakh tons, down by 0.5 percent from last month.
Kshtij Purohit, Product Manager Currency & Commodities, CapitalVia Global Research Limited said, “CPO has crossed the short-term resistance above Rs 920 and close above this level. The next resistance for the commodity is Rs 930 levels. The price is moving higher high lower low formation which suggests buy on dips for the commodity.”