Base Metals Daily Market Watch Sept 04, 2015 - Emkay Commotrade-Shanghai Metals Market

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Base Metals Daily Market Watch Sept 04, 2015 - Emkay Commotrade

Industry News 12:16:50PM Sep 06, 2015 Source:SMM

By  Paul Ploumis 04 Sep 2015  Last updated at  04:10:29 GMT 

Commodities

Base Metals: LME metals increased in the first held as risk sentiments improved on speculation that Fed may go for delay in rate hikes on downbeat of US economic data but later on ECB Draghi dovish comment put pressure on Euro against USD. Copper took a breather today but was set to log a second weekly gain, with traders expecting a short-covering rally to gain steam given thin liquidity due to holidays in China. Nickel climbed 2%, Copper 2.5%, Aluminum 1% while lead and zinc stabilized last night. We may see some correction in initial trading but buying can do in specific counters like copper, Nickel as recovered well from six years low. Copper also getting support from supply disturbances as Peruvian mine shut due to strikes. Zinc and lead looks flattish as overvalued counters.


MetalsTotal
Inventories
Cancelled
Warrants
(CW)
Change in
Stocks
Change in
CW
CW % of
Total
Inventory
Remarks
Aluminum-85253237800500122647537.88CW ratio started improving from the lowest pace
Copper-1850360825129006557518.17Canceled warrants jump 36% to highest since July 14
Nickel-366453678-240615798034.82Stocks have fallen very sharply from highest levels in
record
Lead-375017950003455019.25Cancelled warrants 26% in the last week
Zinc-225528900014567527.54Stockpiles in Antwerp double to highest since Feb 14

 Courtesy : Emkay Commotrade


Emkay Commotrade Ltd.

7th Floor, The Ruby, Senapati Bapat Marg, Dadar - West, Mumbai - 400028. 

India Tel: +91 22 66121212 Fax: +91 22 66121299


Base Metals Daily Market Watch Sept 04, 2015 - Emkay Commotrade

Industry News 12:16:50PM Sep 06, 2015 Source:SMM

By  Paul Ploumis 04 Sep 2015  Last updated at  04:10:29 GMT 

Commodities

Base Metals: LME metals increased in the first held as risk sentiments improved on speculation that Fed may go for delay in rate hikes on downbeat of US economic data but later on ECB Draghi dovish comment put pressure on Euro against USD. Copper took a breather today but was set to log a second weekly gain, with traders expecting a short-covering rally to gain steam given thin liquidity due to holidays in China. Nickel climbed 2%, Copper 2.5%, Aluminum 1% while lead and zinc stabilized last night. We may see some correction in initial trading but buying can do in specific counters like copper, Nickel as recovered well from six years low. Copper also getting support from supply disturbances as Peruvian mine shut due to strikes. Zinc and lead looks flattish as overvalued counters.


MetalsTotal
Inventories
Cancelled
Warrants
(CW)
Change in
Stocks
Change in
CW
CW % of
Total
Inventory
Remarks
Aluminum-85253237800500122647537.88CW ratio started improving from the lowest pace
Copper-1850360825129006557518.17Canceled warrants jump 36% to highest since July 14
Nickel-366453678-240615798034.82Stocks have fallen very sharply from highest levels in
record
Lead-375017950003455019.25Cancelled warrants 26% in the last week
Zinc-225528900014567527.54Stockpiles in Antwerp double to highest since Feb 14

 Courtesy : Emkay Commotrade


Emkay Commotrade Ltd.

7th Floor, The Ruby, Senapati Bapat Marg, Dadar - West, Mumbai - 400028. 

India Tel: +91 22 66121212 Fax: +91 22 66121299