MCX Advisory

US zinc mine production increased by 6% in September, report from United States Geological Survey (USGS). Total recoverable zinc mine production was 60100 tonnes in the month of September from 56800 in August.

The total mine zinc production in January-September 2012 was 525000 tonnes. Average daily mine production in September was 2000 tonnes, 9% higher than that in August 2012 and slightly higher compared with that in September 2011.

Apparent consumption of refined zinc totaled 71700 tonnes in September compared to 74600 tonnes in the month of August. Meanwhile, reported consumption of Zinc in September was 36700 tonnes compared to 37000 tonnes in the month of August.

MCX Advisory

The Minister of Steel, Shri Beni Prasad Verma has said that during the year 2011-12, the country's total production of iron ore was 169.66 million tonnes (provisional) as against the total estimated consumption of about 116.3 million tonnes by the domestic iron and steel industry. Therefore, production of iron ore in India was in excess of the total estimated domestic consumption by the iron and steel industry. 

As per the available information, the hard coking coal spot prices are on a declining trend in international market during last one year and have fallen from the level of $310 per tonne in June, 2011 to $145 per tonne in October, 2012 (Free on Board (FOB) Australia; Source: SBB, as provided by Economic Research Unit, Ministry of Steel).

Mcx Advisory Base Metal

Base metals pack was subdued before the weekend on account of Eurozone Finance Ministers meet that is due on Monday. The Greece crisis and its bailout package is the agenda for the meet that went undecided this week.

LME Copper was in a tight range trading at $ 7686 per tonne down 0.63%. The metal closed at $ 7735 per tonne on Thursday, up by $ 11 per tonne. MCX Copper remained trading in a range of Rs 429-426 per kg on Thursday before settling at Rs 426.6 per kg, up 0.19%.

Even Nickel has started witnessing pressure after four consecutive days of gains. The stainless steel material is down by $ 194 per tonne at $ 16531 per tonne. MCX Nickel closed at Rs 913 per kg, down Rs 4.

The decline in consumer confidence data of Eurozone has cornered the gains in industrial metals. European Commission said that Euro zone consumer confidence fell to an annual rate of -26.9, from -25.7 in the preceding month whose figure was revised down from -25.6.

The news of manufacturing numbers that were on a supportive side for the metals has been discounted. Traders are likely to start fresh next week and will seek cues from China and other consuming nations of metals.

Last night, Euro zone's manufacturing PMI rose to 46.2 in October, from 45.4 in the preceding month. German manufacturing PMI rose to a seasonally adjusted 46.8, from 46.0 in the preceding month. France Manufacturing PMI gained to 44.7 in October, compared to 43.7 in September.

MCX Advisory ( Silver Trading )

Silver Trading & Futures Price movements have been relatively stable in a price range that many would consider cheap. Most traders & investors in the Precious Metals Markets would miss out on investing in Silver and also the potential wealth creation opportunity that Silver Trading presents currently because of uncertainty and lack of constructive concrete information. The recent surge of increased investor interest in Silver Trading indicates that Silver Prices are due for a strong rebound. Investors with a long term outlook should remain patient for returns to bloom.

Quantitative Easing or Economic stimulus efforts expected to be initiated anytime now on in the U.S. & Eurozone have a very strong potential of increasing Inflation levels sharply. Silver could perform stronger and be a better investment than most of the other investment avenues available currently. Silver & Gold will always be worth more than paper commodities (Currency) because they are a physical asset and also finite in supply, but always high in demand due to their inherent preciousness value. The margins for Silver Trading have also been considerably lowered thrice this year from the high margin slabs imposed last year & this may also make Silver Trading sweeter. Silver Trading is currently seen moving in the upper boundary of its trading range of late, suggesting a Silver Prices Breakout on the upside is possible soon.

MCX Gold News

MCX Gold News :-
Both the precious metals, gold and silver, rebounded today on fresh buying by stockists and retail customers for the ongoing festive season, amid a firm global trend.

While gold surged Rs 240 to Rs 31,500 per 10 grams after losing Rs 540 in last three sessions, silver climbed by Rs 370 to Rs 60,300 per kg, after losing Rs 1470 in the previous four sessions.

Traders said the sentiment turned better on rising demand on beginning of 'Navratri', an auspicious week in Hindu mythology for purchasing new things, particularly precious metals.

Also read: Gold prices recover in India, importers retreat

They said  gold  gaining in global markets, before European Union leaders summit this week amid speculation that Spain may accept credit from a rescue fund, weakening the dollar, which rising precious metals demand.

In Singapore, gold rose by 0.3 per cent to USD 1,753.53 an ounce and silver by 0.6 per cent to USD 33.15 an ounce. On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs 240 each to Rs 31,500 and Rs 31,300 per 10 grams, respectively, while sovereigns gained Rs 50 to Rs 25,450 per piece of eight grams.

In line with a general firming trend, silver ready shot up by Rs 370 to Rs 60,300 per kg and weekly-based delivery by Rs 350 to Rs 60,250 per kg. Silver coins too spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces on upsurge in demand due to festive season.

MCX Advisory

MCX Advisory :-

Xstrata third quarter results showed that total nickel production for the third quarter of 2012 was in line with the prior period. The total nickel production for the first nine months of the year increased by 2% to 79,474 tonnes compared to the same period last year, driven by a 16% increase in nickel in ferronickel production from Falcondo following the restart of mining activities in February 2011 to 50% of installed capacity.

Mined mcx nickel production from Integrated MCX Nickel Operations (INO) during the third quarter was lower compared to the previous year, primarily due to the winding down of mining activities at Xstrata Nickel Australasia's Cosmos mine following our decision during the quarter to initiate a care and maintenance schedule in response to adverse market conditions. In Sudbury, mined nickel and copper production were both lower due to a planned 16-day electrical maintenance shutdown. Current run-rates at Sudbury mines indicate a strong fourth quarter.

Despite the reduction in mined output, nickel in matte production from the Sudbury smelter increased 11% in the third quarter of 2012 compared to the same period last year. This increase was achieved by drawing down existing feed inventory, and acquiring and processing additional third party feed. Copper in matte production from the smelter increased by 2%. Refined nickel production from Nikkel verk refinery in Norway remained in line with its nameplate capacity of 92,000 tonnes per year.