Nickel Gained Tracking LME Prices Gained By 2.4 Percent To Close

Nickel trading range for the day is 743.6-778.4.

Nickel gained tracking LME prices gained by 2.4 percent to close at $11,055 as investors bought riskier assets on speculation U.S. interest rates may be near a peak

The Philippines' environment ministry has said it would allow nine suspended mines, six of which are nickel, to resume operations.

The global nickel market deficit widened slightly to 9,200 tonnes in September from the previous month's revised deficit of 8,100 tonnes.

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Silver Dropped As Firmness In Rupee Weighed On MCX

Silver trading range for the day is 35270-36170.

Silver dropped as firmness in Rupee weighed on MCX as the U.S. dollar weakened on investors’ expectations of a slowdown in interest rate hikes.

The chairman of the U.S. Federal Reserve, Jerome Powell, said that rates are “just below” the neutral level now.

Powell’s comments suggest that 2019 may be more of a wait-and-see approach and the assumption of any hikes may be premature.

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Aluminium Trading Range For The Day Is 136.8-140

Aluminium trading range for the day is 136.8-140.

Aluminium prices gained as support seen after China’s Primary aluminium capacity cuts to exceed 2 million mt in 2018

However, persisting worries about the China-US trade conflict are expected to kept investors cautious.

Federal Reserve caution on the global outlook and weak data at home, pointing to slower rate hikes.

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Aluminium Dropped On Fresh Concerns That A U.S.-China Trade

Aluminium trading range for the day is 142.1-145.5.

Aluminium dropped on fresh concerns that a U.S.-China trade war was dampening global growth.

Selling pressure intensified after U.S. President Donald Trump warned he had billions of dollars of new tariffs ready to go if a trade deal with China was not possible.

The world's biggest mining company BHP Billiton trimmed its expectations of global growth for next year and 2020, citing the U.S.-China trade conflict.

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Crude Oil Prices Dipped Weighed Down By Ongoing Weakness In Global Stock

Crude oil trading range for the day is 4745-5037.

Crude oil prices dipped weighed down by ongoing weakness in global stock markets and by signs of rising global supply despite looming sanctions on Iran's crude exports.

High oil prices hurting consumers, could have adverse implications for producers:

IEA Birol Crude output from Russia, the United States and Saudi Arabia, reached 33 million barrels per day for the first time in September.

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Zinc Dropped On Concerns Of A Slowdown In China

Zinc trading range for the day is 194.3-200.5.

Zinc dropped on concerns of a slowdown in China, which pledged to support illiquid private companies after third-quarter GDP growth slowed to 6.5 percent.

On-warrant zinc stocks in LME-registered warehouses, have fallen below 100,000 tonnes from almost 240,000 tonnes in August and are close to 10-year lows.

The premium for cash zinc over the three-month LME contract, at $47, remains close to Monday’s $63 one-year high, signalling tight nearby supply.

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Copper Dropped As The Metal Considered To Be An Economic Bellwether Tracked

Copper trading range for the day is 437.8-455.2.

Copper dropped as the metal considered to be an economic bellwether tracked a slump in global equity markets.

China, more than quadrupled the value of fixed-asset investment projects approved in the third quarter from the April-June period.

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Silver Dropped As Profit-Taking On Its Outsize Gains In The Previous Session

Silver trading range for the day is 38569-39261.

Silver dropped as profit-taking on its outsize gains in the previous session and strength in the dollar halted the gains.

Sales of new U.S. single-family homes fell to a near two-year low in September and data for the prior three months was revised lower.

The European Central Bank seems certain to keep policy unchanged but is likely to acknowledge the growth outlook is deterioratin.

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Gold Fell As A Rising Dollar Spurred Investors To Take Profits

Gold trading range for the day is 31665-32153.

Gold fell as a rising dollar spurred investors to take profits after tumbling stocks pushed the metal higher in the previous session.

Fed should continue raising interest rates at least two but probably three more times before assessing whether further rate hikes to restrain growth are warranted.

The European Commission rejected Italy’s draft 2019 budget on Tuesday, saying it brazenly broke EU rules on public spending.

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Copper Prices Dropped On Concerns Of Slowing Demand In China

Copper trading range for the day is 443.5-457.1.

Copper prices dropped on concerns of slowing demand in China and as geopolitical tensions escalated over the killing of a prominent Saudi journalist.

China's copper import premiums are at $117.50 a tonne, just below the recent three-year high of $120 a tonne, indicating strong demand for physical metal.

LME copper stocks at 154,225 tonnes have tumbled 27 percent since Sept. 24, while those in ShFE are up about 27 percent over the same period.

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Silver Trading Range For The Day Is 38443-39053

Silver trading range for the day is 38443-39053

Silver traded in range as investors prepared for Friday’s data on U.S. third-quarter growth, while monetary policy decisions from ECB will also be closely watched.

Investors braced for the peak of the U.S. earnings season while angst over Saudi Arabia, Italy and Brexit kept geopolitics front and center.

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Aluminium Trading Range For The Day Is 146.2-150.2

Aluminium trading range for the day is 146.2-150.2.

Aluminium dropped on profit booking despite of market talk that Jinjiang and Xinfa have cut their alumina capacity due to tight supplies of bauxite.

China's primary aluminium production fell for a second straight month in September and slid to its lowest level since May.

China's primary aluminium supply is expected to grow at 4.1% in 2019, while consumption is likely to grow at a slower pace of 3%.

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Crude Oil Gained On Signs Of Surging Demand In China

Crude oil trading range for the day is 5024-5190.

Crude oil gained on signs of surging demand in China, although prices dropped on weekly basis on swelling U.S. inventories

Saudi Arabia's crude oil exports in Aug rose to 7.210 million barrels per day from 7.120 million bpd in July, official data showed.

U.S. crude stocks last week climbed 6.5 million barrels, the fourth straight weekly build, the U.S. Energy Information Administration said.

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Gold Dropped As The U.S. Dollar Seen Supported Amid Expectations

Gold trading range for the day is 31753-32121.

Gold dropped as the U.S. dollar seen supported amid expectations of another interest rate increase this year.

Investors preferred the dollar as the U.S.-China trade war unfolded against a background of higher U.S. interest rates.

A key festival brought little activity to the physical gold market in India in the week as purchases remained significantly lower than normal.

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Crude Oil Gains On Evidence Of Falling Lranian Exports

Crude oil trading range for the day is 5167-5375.

Crude oil gains on evidence of falling Iranian exports, but gains were limited by fears of another outsize U.S. crude build in weekly storage data.

OPEC Secretary-General Mohammad Barkindo said global spare oil capacity was shrinking, adding that producers and companies should increase their production capacities.

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Silver Prices Dropped On Profit Booking Amid Firmness In Rupee

Silver trading range for the day is 38520-39484.

Silver prices dropped on profit booking amid firmness in Rupee after prices seen supported as a sea of global troubles kept safe-haven demand churning.

The consumer price index rose 2.5% from a year earlier, the largest annual growth in seven months, according to data.

US industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output.

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Silver Rose As The Hedge Of Choice Against A Cocktail Of Geopolitical Tensions

Silver trading range for the day is 38804-39618.

Silver rose as the hedge of choice against a cocktail of geopolitical tensions, tumbling equity markets and global macro uncertainties.

U.S. retail sales barely rose in September as a rebound in motor vehicle purchases was offset by the biggest drop in spending at restaurants and bars in nearly two years.

The Fed hiked rates last month for the third time this year and is expected to raise them again in December.

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Natural Gas Fell As Production Was Expected To Slowly Rise

Natural gas trading range for the day is 225.7-245.7.

Natural gas fell as production was expected to slowly rise as drillers return to offshore Gulf of Mexico wells after Hurricane Michael.

Inventories increased in line with expectations, but the colder than normal weather than is expected to cover most of the US for next 2-weeks should increase heating demand.

Implied volatility for gas futures rose to an eight-month high as prices jumped earlier in the week on concerns the amount of gas in storage was well below normal.

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Copper Seen Supported Amid Shrinking Inventories

Copper trading range for the day is 453.7-465.7.

Copper seen supported amid shrinking inventories and in anticipation of growth in Chinese infrastructure and upbeat orders for stockpiling before the year-end.

China's imports of copper rose 24.0 percent from month ago to 521,000 tonnes in September, data from the General Administration of Customs showed.

Chinese data showed an unexpected acceleration in Chinese export growth in September and a record trade surplus with the United States.

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Turmeric Prices Gained On Expectations Of An Increase In Demand

Turmeric trading range for the day is 6724-6880.

Turmeric prices gained on expectations of an increase in demand and lower stock in the warehouses.

All India Turmeric stocks are reported around 30 - 32 lakh bags as compared to last year 40-42 lakh bags, down by around 24%.

NCDEX accredited warehouses turmeric stocks dropped by 20 tonnes to 2871 tonnes.

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