CAPITALSTARS MCX COMMODITY MARKET NEWS & UPDATES - 09 APR 2018

Gold Prices Slip as Dollar Firms Despite Trade War Fears -   Gold prices slipped on Monday as the dollar strengthened on signs of easing tensions between the United States and North Korea, although the U.S.-China trade spat continued to be a concern. The U.S. confirmed that North Korean leader Kim Jong-un is willing to talk to President Trump about denuclearisation, which implied easing geopolitical tensions in East Asia that improved investors’ risk appetite. Dollar-denominated assets such as gold are sensitive to moves in the dollar – a gain in the dollar makes gold more expensive for holders of foreign currency and thus decreases demand for the precious metal. Meanwhile, U.S. inflation data will be out later this week. The U.S. producer price index, forecast at 0.1%, will be due Tuesday, while the core consumer price index, expected to be 0.2%, will come on Wednesday.

  Report: Pan Pacific Copper to increase refined copper output by 15% - Japan’s largest copper smelter Pan Pacific Copper plans to increase its output by 300,000 mt during April to September this year, the company said last Friday. This would be a 15% increase from the same period last year. Copper on MCX settled down -0.39% at 438.25 but prices recovered from lows amid expectations of rising seasonal demand in the second quarter. China warned it would fight back "at any cost" with fresh measures to safeguard its interests if the United States sticks to its protectionist actions, after U.S. President Donald Trump threatened an extra $100 billion in tariffs in a worsening trade dispute between the world's two biggest economies. The United States is willing to negotiate with China on trade, but only if talks are serious, as previous attempts produced little progress, a senior U.S. official told as trade tensions between the two nations escalated.

Oil prices firm, but trade dispute and Syria keep market on edge - Oil markets stabilized on Monday after slumping around 2 percent last Friday on concerns over an intensifying trade dispute between the United States and China, as well as increased U.S. drilling activity. Markets on Monday were also eyeing the situation in Syria after reports - denied by the Pentagon - that U.S. forces had struck a major air base there.Oil prices fell about 2 percent on Friday after U.S. President Donald Trump threatened new tariffs on China, reigniting fears of a trade war between the world's two largest economies that could hurt global growth."Oil prices have been susceptible to the brewing trade tensions between China and the U.S....However, fundamental support levels have been demonstrated with OPEC's suggestion on an production limit extension into 2019," said Singapore-based Phillip Futures.

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CAPITALSTARS MCX COMMODITY MARKET NEWS & UPDATES - 06 APR 2018

Gold prices fell as risk appetite recovered after the United States expressed willingness to resolve an escalating trade fight with China -   Gold on MCX settled down -1.01% at 30547 as risk appetite recovered after the United States expressed willingness to resolve an escalating trade fight with China. President Donald Trump on Thursday directed U.S. trade officials to identify tariffs on $100 billion more Chinese imports, upping the ante in an already high-stakes trade confrontation between the world’s two largest economies. The further tariffs were being considered “in light of China’s unfair retaliation” against earlier U.S. trade actions, which included a proposed $50 billion of tariffs on Chinese goods, Trump said in a White House statement. The U.S. trade deficit increased to a near 9-1/2-year high in February, with both imports and exports rising to record highs in a sign of strong domestic and global demand. Gold-backed exchange traded funds in North America saw inflows in March, amid market volatility and as  trade tensions between the United States and China drove safe-haven purchases to bullion, while Europe saw outflows for the second straight month.

  Copper rose as fading concerns over the prospect of a trade war between China and the United States sparked a bounce in cyclical assets such as industrial metals - Copper on MCX settled up 1.45% at 439.95 on short covering with other Base metals prices were mostly higher from the day's low reacted as trader assess the outlook for US-China trade tensions while both major economies signal willingness to negotiate. Copper regained on the announcement of China imposing additional tariffs on US imports to retaliate for duties on its high-tech goods reported from the Trump administration. Copper closed $92 higher to climb back above the $6,800 per tonne support level, continues to find support from expectations of negotiations between the US and China allaying trade tensions. The United States signaled its willingness on Wednesday to try to resolve an escalating trade dispute with China after Beijing retaliated against proposed U.S. tariffs on $50 billion in Chinese goods by targeting key American imports. While the United States and China should avoid a trade war, China's Ambassador to the United States, Cui Tiankai, said on Wednesday, stressing that Beijing's preference was to resolve the dispute through negotiations.

Oil Prices Fall On Trump Threats Of New China Tariffs - Oil prices fell on Friday morning in Asia after U.S. President Donald Trump threatened to impose new tariffs on China, fueling fears of a trade war between the world’s two biggest economies.President Trump said on Thursday he had ordered U.S. trade officials to consider an additional $100 billion in tariffs on China, escalating tensions with China, which has increased tariffs by up to 25% on 128 U.S. products. China is also taking its first steps towards paying for imported crude oil in yuan instead of the U.S. dollar. A pilot program for yuan payment could be launched as early as the second half of this year. As the biggest importer of crude oil and the world’s largest energy consumer, China’s oil demand is a key determinant of global oil prices.

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CAPITALSTARS MCX COMMODITY MARKET NEWS UPDATES- 05 APR 2018

Gold sinks deeper into the 1,330.00 key level as markets stabilize -   Gold continues to drop in cycles as market sentiment falters and recovers amidst geopolitical turmoil. The possible trade war lead-up is likely to cool off following this week's round of tariff threats. Gold is continuing to slump in Asia trading, bumping into the 1,330.00 handle and maintaining the bearish momentum that rolled over from Wednesday's action. Gold initially lifted on the week's outset, but repeated rounds of tariffs between the US and China has knocked market sentiment back. Recovering risk appetite has returned to the broad markets, and Gold is stumbling lower after reaching a weekly high at 1,348.22.

  Copper dropped after China slapped tariffs on U.S. goods and began a dispute procedure against duties imposed by Washington on Chinese products - Copper on MCX settled down -1.54% at 433.65 in the line of expectation on fresh selling as investors reacted to the potential fallout of an escalating trade conflict between the U.S. and China. The sharp decline in copper prices came after China announced it would hit the U.S. with reciprocal 25% tariffs on more than 100 U.S. products. The tariffs come as China's means of answering President Donald Trump's recent proposal to enact $50 billion worth of tariffs against the country. The threat of a trade war had impacted a number of metals early Wednesday, but copper was among the most dramatically affected. China is the world's top consumer of copper, but also among the top copper producing countries. In 2016, China was the third-largest and the U.S. was the fourth-largest producer of copper in the world.

Zinc prices dropped as pressure seen after China retaliated in kind to a U.S. move to slap tariffs on $50 billion worth of its imports, raising trade war jitters - Zinc on MCX settled down -0.8% at 212.10 settled down on long liquidation as investors battened down the hatches ahead of a possible trade war with China. Today trading volume will remain subdued as the Shanghai Futures Exchange was closed for China's national Tomb Sweeping Day holiday. Some support seen in late session as the United States signaled its willingness to try to resolve an escalating trade dispute with China after Beijing retaliated against proposed U.S. tariffs on $50 billion in Chinese goods by targeting key American imports. While the U.S. and China should avoid a trade war, China's Ambassador to the United States, Cui Tiankai, said on Wednesday, stressing that Beijing's preference was to resolve the dispute through negotiations.

Oil gains on surprise drawdown in U.S. crude inventories - Oil prices rose on Thursday, holding onto a late-session rally the previous day, buoyed by the U.S. government data showing a surprise drawdown in crude stockpiles.Before the rebound late on Wednesday, after the release of the Energy Information Administration (EIA) inventory data, WTI and Brent had hit two-week lows after China proposed a broad range of tariffs on U.S. exports, feeding fears of a trade war.U.S. crude inventories fell by 4.6 million barrels last week, compared with analysts' expectations for an increase of 246,000 barrels, EIA data showed on Wednesday.

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CAPITALSTARS MCX COMMODITY MARKET NEWS UPDATES - 04 APR 2018

Gold Prices Gain Amid Weaker Dollar -  Gold prices gained on Wednesday as dollar weakened after the U.S. slapped tariffs on $50 billion worth imports from China. Trading tensions were cited as a catalyst for the buying as investors stayed away from risk assets. The Trump administration proposed on Tuesday to impose 25% tariffs on nearly $50 billion worth of made-in-China products - around 1,300 industrial technology, transport and medical products to be particular. Dollar-denominated assets such as gold are sensitive to moves in the dollar – a fall in the dollar makes gold cheaper for holders of foreign currency and thus increases demand for the precious metal. More directional drivers for the dollar this week will be the U.S. payrolls data and comments by Federal Reserve Chairman Jerome Powell.

 Zinc smelters operating rates to dip further in Apr - The operating rates of Chinese zinc smelters are likely to dip further in April, following a 2.14-percentage-point month-on-month drop in March, an SMM survey showed. This is because more smelters are expected to carry out maintenance this month although some will resume normal operations. The operating rate in March stood at 72.31%, according to the SMM survey. Zinc output was down over 10,000 mt from February due to maintenance work.

Copper prices gained supported by stronger-than-expected manufacturing growth in China - Copper on MCX settled up 0.3% at 440.45 traded in the range while prices continuous to hold 440 level as investors bought on expectations the escalating trade dispute between China and the United States would not undermine flows of metal. Meanwhile the US dollar index climbed up and depressed copper prices following a release by the US of $50 billion of imports from China that could be subject to sweeping tariffs. The picture was not quite as rosy among smaller to mid-size Chinese companies, where manufacturing activity expanded at its weakest pace in four months as export demand faltered. Investor worries over a tit-for-tat trade spat between the United States and China were likely to fade out.

Oil Prices Fall On Rising Russian Output And Geopolitical Tensions - Oil prices fell on Wednesday morning in Asia amid rising Russian production and expectations that Saudi Arabia will cut prices of the crude it sends to Asia.There are speculations that Saudi Arabia will cut prices for all crude grades it sells to Asia in May to reflect weaker prices for its Middle East benchmark Dubai crude. Also putting pressure on oil markets is the rising supply. Despite the production cut agreement with the Organization of the Petroleum Exporting Countries (OPEC), top producer Russia pumped 10.97 million barrels per day (bpd) of crude in March, up from 10.95 million bpd in February, an 11 month high. Tensions between U.S. and Iran are supporting oil markets. U.S. President Donald Trump threatened to pull out of a 2015 international nuclear deal with Tehran under which Iranian oil exports have risen.

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CAPITALSTARS - MCX COMMODITY MARKET NEWS & UPDATES - 02 APR 2018

Last Year’s Close at $1318.70 is Major Support -   Gold managed to eke out a small gain during the first quarter of the year, mostly supported by the weaker U.S. Dollar and the volatility in the stock market. The easing of geopolitical concerns especially over North Korea and expectations of higher global interest rates may be keeping a lid on any rallies. Gold closed marginally lower on Thursday as the dollar inched higher against a basket of currencies. However, losses were likely limited by tensions over Russia and a potential trade war. Solid U.S. economic news and increased demand for higher risk assets also helped cap the market. Moscow has threatened to take retaliatory action after the United States and other Western countries expelled.

 Copper prices ended with gains on short covering as support seen amid receding fears about a trade - Copper on MCX settled up 0.77% at 436.8 on short covering as support seen amid receding fears about a trade. Metals markets were shaken in the month when U.S. President Donald Trump moved to impose tariffs on Chinese goods and Beijing threatened retaliation. But fears of a trade war have eased on hopes that negotiations can bring a compromise. Growth in China’s manufacturing sector likely picked up slightly in March as authorities lifted winter industrial pollution restrictions and steel mills cranked up production as construction activity swings back into high gear.

Aluminium extrusion operating rate picks up in Hebei - Aluminium extrusion producers in north China are resuming operations gradually as the two political sessions and restrictions for the heating season ended last month, an SMM survey showed. One company in Hebei province told SMM that it has three out of its five machines operating and the company’s orders for April are getting close to its maximum capacity. We expect orders at aluminium processing companies to rise month on month in April due to a delayed downstream consumption recovery.

Oil prices rise on lower U.S. drilling activity, trade tension weighs - Oil prices rose on Monday, lifted by a drop in U.S. drilling activity as well as by expectations that the United States could re-introduce sanctions against Iran.Stephen Innes, head of trading for Asia/Pacific at futures brokerage OANDA in Singapore, said oil markets remained nervous about "whether or not the U.S. administration will scrap or maintain the fragile nuclear deal with Iran". Innes said prices were also supported by a weekly report that there was a drop in activity of drilling for new oil production in the United States. U.S. drillers cut seven oil rigs in the week to March 29, bringing the total count down to 797 , General Electric Co's (N:GE) Baker Hughes energy services firm said in its closely followed report last Thursday. It was the first time in three weeks that the rig-count fell. Baker Hughes published its North American rig count report on Thursday, one day earlier than usual, due to the Good Friday holiday on March 30.

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