✍ MCX - WEEKLY NEWS LETTERS
Aluminium up by 0.2% on high demand
Aluminium futures edged higher by 0.23% to Rs 111 per kg on Tuesday after speculators enlarged positions amid pick-up in demand at spot markets.
Furthermore, a firming trend in metal at the London Metal Exchange (LME) on fall in its inventories supported the upside.
At the Multi Commodity Exchange, aluminium for delivery in February rose 25 paise, or 0.23%, to Rs 111 per kg, with a business turnover of 184 lots.

The metal for delivery in March also gained 20 paise, or 0.18%, to trade at Rs 111.95 per kg in a turnover of 13 lots.
Firm trend in the metal at spot markets on increased demand from consuming industries and firming trend at the LME influenced aluminium prices at futures trade here.
In the international market, aluminium rose as much as 0.5%, the first gain in four days at the LME after inventories of the metal tracked by the exchange showed it had fallen to the lowest since May 2009.

Crude oil
Crude oil held its mercurial nature in the past week as well while internal factors pressed very high divergence amongst the two major international benchmarks, the ICE Brent and the NYMEX WTI. As of weekly closing, WTI Apr contract was lower by 2% to $49.75 per barrel while the Brent crude for same month’s settlement advanced around 3.9% to $62.60 per barrel. The divergence between the two oils was mainly due to comments from OPEC members which called for gradual increase in oil demand while in the US crude mixed cues over economy and negative weekly inventory report hurt.

Silver futures up by 0.5% on global cues
Tracking a rising trend in global markets, silver futures prices on 24-02-15 rose by Rs 184 to Rs 36,383 per kg as speculators built fresh positions amid covering-up of short positions.

At the Multi Commodity Exchange, silver for delivery in March traded higher by Rs 184, or 0.51%, to Rs 36,383 per kg in business turnover of 518 lots.
On similar lines, the white metal for delivery in far-month May traded Rs 179, or 0.49%, higher at Rs 36,735 per kg in a turnover of 31 lots.
In the international market, silver traded 0.3% higher at $16.38 an ounce in Singapore, extending Monday's 0.6% gains.
It can be said, besides covering up of short positions by speculators, a firming trend in the precious metals in the global market, supported the upside in silver futures here.

Gold
Gold advanced at Comex while locally gains came on Saturday as government refrained from cutting down the import duty from current 10% levels. Unexpectedly the finance minister left the import tax on the metal unchanged against broad expectations of a cut in the range if 2-4%. Looking at cues from international markets, gold had a mixed week with FED comments supporting along with Chinese cues. In the coming week, one of the major cues over economic side which can drive good volatility in Bullion would be the important employment indicators from the US. The Non-Farm payrolls data for which markets forecasts stand for a reading around 235,000-245,000 monthly Job addition. This is the near the average reading for 2014 while moderately lower than 257,000 added in Jan. If we get a reading in the aforementioned range, other than intraday volatility which the data tends to drive, we believe it would largely be seen on positive footing supporting the bullish case for US Dollar and equities while act negatively for Gold. Though demand from China which saw decent increase in last week may support moderately, overall the commodity is likely to extend its bearish move. Also from India, the import duty staying higher could act moderately negative over consumption and further add weight on the commodity. We recommend selling the commodity on higher levels in next week.
Natural Gas
Natural Gas had a heavy fall in the past week a the commodity skid over 8% in NYMEX markets to close near the $2.73 per MMBTU mark at NYMEX for April expiry NYMEX NG Mar expiry contact at MCX was further lower by 9.7% to Rs 167 per MMBTU as locally Rupee movement too hurt the commodity

NCDEX - WEEKLY NEWS LETTERS
The National Commodity and Derivatives Exchange (NCDEX) has appointed Pune-based Grassroots, a strategic consulting firm, to conduct a survey on the expectations of customers. Officials from Grassroots have already started meeting participants of the exchange, members, etc, in this regard.
A report based on the survey is expected in the next couple of months.
“As India’s largest pool of liquidity in agricultural commodities, our customers depend upon us for a host of value-added services in warehousing, grading and assaying, commodity finance, collateral management and e-registry. Every day, it’s our job to make every important aspect of customer experience a little bit better. The annual customer service survey helps us with insights on evolving customer expectations and the need to identify focused action areas so that we continue to stay closely aligned to their business,” said an NCDEX spokesperson.
This will be second such survey by the exchange. The survey carried out last year showed customers sought an improvement in warehousing-related and technology issues.
NCDEX has been able to maintain its market share in the futures segment, though it has largely remained agro centric. It has introduced a few innovative contracts in the gold category but hasn't not able to improve its share in this segment. According to a member of the exchange surveyed by Grassroots, NCDEX hasn't been able to avail of the opportunity thrown up by regulatory restrictions on rival Multi Commodity Exchange till July last year.
The exchange's spokesperson clarified the survey wasn't aimed at increasing market share but understanding customer needs better.
Of late, NCDEX has taken a slew of initiatives, including the launch of forward trading in several commodities. Recently, it chose MillenniumIT's multi-asset and ultra-low latency trading solution, Millennium Exchange, for its matching engine technology and Millennium Surveillance to detect abnormal trading behaviour and promote integrity in its spot and derivatives segments. Both products, based on MillenniumIT's Millennium Advanced Platform, seek to support the firm's trading operations and ensure it meets the market's regulatory requirements.

Refined soya oil up 0.2% on pick-up in demand
Refined soya oil prices on tuesday rose 0.20% to Rs 592 per 10 kg in futures trade today on rising demand in the spot market.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April edged up by Rs 1.20, or 0.20%, to Rs 592 per 10 kg with an open interest of 1,03,270 lots.
Likewise, the oil for delivery in May traded higher by Re one, or 0.18%, to Rs 570.65 per 10 kg in 90,490 lots.
Besides pick-up in demand in spot market, restricted supplies from producing belts mainly led to the rise in refined soya oil prices at futures trade.

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