Wednesday, May 17, 2017 For Private Circulation Only MAJOR COMMODITIES Commodity Expiry High Low Close Change Commodity Expiry High Low Close ($) Change Gold Jun 28135 28020 28094 102 Gold (Oz) Jun 1239.10 1230.00 1236.40 6.40 Silver Jul 38775 38580 38744 242 Silver (Oz) Jul 16.87 16.61 16.75 0.14 Crude Oil May 3164 3115 3123-26 Crude Oil Jun 49.38 48.17 48.66-0.19 Natural Gas May 216.00 205.90 206.30-8.70 Natural Gas Jun 3.37 3.22 3.23-0.12 Copper Jun 363.00 359.00 362.45 0.90 Copper 3M 5625.00 5563.00 5621.00 15.00 Nickel May 591.00 580.20 585.60-1.50 Nickel 3M 9235.00 9040.00 9165.00 0.00 Aluminium May 123.65 121.70 123.45 1.20 Aluminium 3M 1930.50 1897.00 1929.00 21.00 Lead May 136.00 133.30 133.45-2.90 Lead 3M 2127.50 2080.50 2090.00-41.00 Zinc May 164.00 161.30 163.05-1.65 Zinc 3M 2574.00 2518.00 2555.00-18.00 News & Development No Major fundamental developments. (Source: Reuters)
Gold Gold prices extended gains for a fourth day on Tuesday as political troubles and weaker-than-expected housing data in the United States dented the dollar while a more upbeat scenario in Europe lifted the euro. The dollar index slipped to the weakest in more than six months after two U.S. officials said President Donald Trump disclosed highly classified information to Russia's foreign minister about a planned Islamic State operation. Investors regarded Trump's difficulties as another obstacle to planned U.S. tax cuts and infrastructure spending that had boosted the dollar since the November election. Gold is used as an alternative investment during times of political and financial uncertainty. Also pressuring the dollar, the Commerce Department said housing starts dropped to the lowest level in five months. Gold Strategy S2 S1 Close R1 R2 Jun Buy @ S1 27900 28000 28094 28200 28300 We expect gold prices to trade positive on the back of short covering after drop in prices. Silver Silver rose 1.3 percent at $16.81 an ounce after tapping $16.86, the highest since May 3. Silver Strategy S2 S1 Close R1 R2 Jul Buy @ S1 38200 38500 38744 38000 38300 We expect silver prices to trade positive on the back of short covering after drop in prices. Page 2
Crude Oil Oil prices settled little changed on Tuesday after several OPEC members voiced support for prolonging supply cuts through March 2018 to reduce a global crude glut. Crude prices dipped later in post-settlement trade after data from the American Petroleum Institute showed an unexpected build in crude and distillate products inventories. Forecasters had expected another draw in U.S. crude stocks. Prices have rebounded about 10 percent since hitting five-month lows 11 days ago. Members of the Organization of the Petroleum Exporting Countries have stated their intentions to keep supply cuts going through next year. The market has grown skeptical, as inventories have been drawing down slowly even after OPEC and several big non-opec producers agreed at the end of November to cut production 1.8 million barrels a day in the first half of 2017. Officials in Kuwait, Iraq, Iran and Venezuela voiced support for extending the crude output cut. The meeting to decide on the output cut extension has been set for May 25. Russian Energy Minister Alexander Novak said the proposed extension of output cuts aimed to bring global commercial oil inventories down to the five-year average and stabilize the market. Crude Oil Strategy S2 S1 Close R1 R2 May Sell @ R1 3030 3060 3123 3150 3180 We expect crude oil prices to trade negative on the back of profit booking after sharp up-move in prices. Natural Gas We expect Natural gas prices to trade sideways on the back of short covering after drop in prices. Nat Gas Strategy S2 S1 Close R1 R2 May Sideways 202 205 206.3 209 211 \ Page 3
Base Metals Lead hit a four-month low and zinc sank to its weakest in nearly a month on Tuesday as China's latest moves to curb shadow banking and risky investment dented the growth outlook in the world's top metals consumer. Late on Monday, China's banking regulator tightened disclosure rules on lenders' wealth management products. Separately, the China Banking Regulatory Commission unveiled plans to publish a flurry of regulations later this year to control financial risks. May/Jun* Strategy S2 S1 Close R1 R2 Copper* Sell @ R1 359 361 362.4 363 365 Nickel Sideways 575 580 585.6 590 595 Alum Sideways 122 123 123.4 124 125 Lead Sideways 132 133 133.4 134 135 Zinc Sideways 161 162 163.0 164 165 We expect base metal prices likely to trade volatile on the back of mixed fundamentals. LME Inventories Copper Lead Zinc Aluminium Nickel Current Stock Change % Change 322500 183250 349300 1536275 380250-2650 100 3075-8750 612-0.82% 0.05% 0.89% -0.57% 0.16% Page 4
For Further Assistance Contact: - 022-40934000 Ashish Shah Tejas Nikhar Devashish Srivastava AVP ashish.shah@sushilfinance.com Sr. Research Analyst tejas.nikhar@sushilfinance.com Research Analyst devashish.srivastava@sushilfinance.com WE / OUR CLIENTS / OUR RELATIVES MAY HAVE PERSONAL TRADING / INVESTMENT INTEREST IN THE STOCKS MENTIONED HERE IN. STATEMENT OF DISCLAIMER This report includes information from sources believed to be reliable but no independent verification has been made and we do not guarantee its accuracy or completeness. Opinions expressed are subject to change without notice. This report cannot be construed as a request to engage in any transaction involving the purchase or sale of a futures contract. The risk of loss in trading futures contracts can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. Additional information with respect to any commodities referred to herein will be available on request. Sushil Global Commodities Pvt. Ltd. and its connected companies, and their respective Directors, Officers and employees, may, from time to time, have a long or short position in the commodities mentioned and may sell or buy such commodities. Sushil Global may act upon or make use of information contained herein prior to the publication thereof. This data sheet is for private circulation only. While utmost care has been taken in preparing the above, we claim no responsibility for its accuracy. We shall not be liable for any direct or indirect losses arising from the use thereof and the investors are requested to use the information contained herein at their own risk. Sushil Global Commodities Private Limited Member: NCDEX, FMC Regn.No. 00304 MCX, FMC Regn.No. 12240 Genius, 4 th Road, Khar (W), Mumbai 400 052. Tel.: 022-6698 0636 Fax: 022-6698 0606 E-mail: commodities@sushilfinance.com www.sushilfinance.com Page 5