Thursday, June 29, 2017 For Private Circulation Only MAJOR COMMODITIES Commodity Expiry High Low Close Change Commodity Expiry High Low Close ($) Change Gold Aug 28725 28508 28567 14 Gold (Oz) Aug 1255.70 1246.70 1249.10 2.20 Silver Jul 38880 38515 38704 349 Silver (Oz) Jul 16.83 16.62 16.73 0.14 Crude Oil Jul 2905 2839 2892 32 Crude Oil Aug 44.90 43.67 44.74 0.50 Natural Gas Jun 201.90 197.50 199.80 3.90 Natural Gas Jul 3.08 3.02 3.07 0.03 Copper Jun 379.20 375.90 378.80 2.15 Copper 3M 5883.50 5824.50 5879.00 32.50 Nickel Jun 597.00 586.70 593.70 0.70 Nickel 3M 9295.00 9170.00 9240.00 10.00 Aluminium Jun 121.95 121.15 121.85 0.55 Aluminium 3M 1897.00 1880.50 1896.00 7.50 Lead Jun 147.85 146.00 147.70 0.80 Lead 3M 2303.00 2271.00 2303.00 18.00 Zinc Jun 178.40 175.60 176.75-0.80 Zinc 3M 2764.00 2717.50 2739.50-10.50 News & Development U.S. crude oil inventories edged up last week while gasoline stocks decreased, the Energy Information Administration said on Wednesday, providing a modest lift to oil prices that have been pressured by an ongoing supply glut.
Gold Gold prices rose on Wednesday as the dollar weakened for a second straight day following a global cyber attack and a delay to U.S. healthcare legislation that fueled doubts about President Donald Trump's ability to pass measures expected to boost the economy. The dollar sank to its lowest level since November while the euro hit a one-year high after European Central Bank President Mario Draghi on Tuesday appeared to hint that stimulus could be trimmed this year, though sources later said he had been misinterpreted. While the weak greenback was seen giving support to gold prices, rising yields on U.S. benchmark 10-year Treasury notes were seen preventing stronger gains. Gold Strategy S2 S1 Close R1 R2 Aug Sideways 28350 28450 28567 28650 28750 We expect gold prices to trade sideways on the back of short covering after drop in prices. Silver Silver was up 0.9 percent at $16.81 an ounce. Silver Strategy S2 S1 Close R1 R2 Jul Buy @ S1 38200 38500 38704 3900 39300 We expect silver prices to trade positive on the back of short covering after drop in prices. Page 2
Crude Oil Oil futures climbed more than 1 percent on Wednesday to their highest in more than a week as buyers were encouraged by a small weekly decrease in U.S. production and shrugged off a surprise build in crude inventories in the world's top oil consumer. The U.S. Energy Information Administration (EIA) said crude stocks rose 118,000 barrels last week, while weekly production declined 100,000 barrels per day (bpd) to 9.3 million bpd. That was the biggest decline in weekly output since July 2016. Other analysts and traders noted the U.S. production decline last week was related to temporary factors like Tropical Storm Cindy in the Gulf of Mexico and maintenance work in Alaska that will likely be reversed in coming weeks. U.S. output during the week ended June 16 reached almost 9.4 million bpd, the most since August 2015. OPEC and the other producers, trying to reduce a crude glut, agreed in May to extend the supply cut through March 2018. But OPEC has exempted Nigeria and Libya from cutting output. OPEC delegates have said they will not rush to cut crude output further or end the exemptions, although a meeting in Russia next month is likely to consider further steps to support the market. Crude Oil Strategy S2 S1 Close R1 R2 Jul Sideways 2830 2860 2892 2920 2950 We expect crude oil prices to trade sideways on the back of EIA Crude oil Inventory Data. Natural Gas We expect Natural gas prices to trade positive on the back of favorable weather conditions. Nat Gas Strategy S2 S1 Close R1 R2 Jul Buy @ S1 197 199 199.8 202 205 \ Page 3
Base Metals Aluminium prices held near six-week lows on Thursday as the market focused on rising supplies and exports from top producer China, lower output costs and higher inventories. China's aluminium exports are rising. In May the country exported 460,000 tonnes of unwrought aluminium and aluminium products, up from April's 430,000 tonnes. China's aluminium production last year accounted for 55 percent of the global total, estimated at nearly 59 million tonnes, according to International Aluminium Institute. Its output has been rising since March. Zinc closed up 2.3 percent at $2,700 a tonne. Earlier it touched $2,710, its highest since April 7, on falling stocks in LME warehouses, which are down nearly 30 percent since January to 304,000 tonnes, and on cancelled warrants -- metal earmarked for delivery -- at above 65 percent. Jun Strategy S2 S1 Close R1 R2 Copper Buy @ S1 376 378 378.8 381 383 Nickel Buy @ S1 585 590 593.7 600 607 Alum Sideways 120 121 121.8 122.5 123.5 Lead Buy @ S1 146 147 147.7 148.5 149.5 Zinc Sideways 175 176 176.7 178 179 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 248675 169750 297875 1416825 373914-1875 -825-2000 -3325-720 -0.75% -0.48% -0.67% -0.23% -0.19% Page 4
DATE TIME (IST) COUNTRY ECONOMIC DATA CONSENSUS PREVIOUS IMPACT Thu Jun 29 6:00pm USD Final GDP q/q 1.20% 1.20% High USD Unemployment Claims 241K 241K High 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