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LME INVENTORIES DATA 17/4/2015

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COMMODITYData of 16/04/2015 (Released on Thursday)PREVIOUS-DAY DATA (17-04-2015)
ALUMINIUM+ 1200- 4800
COPPER- 25- 625
LEAD- 2525- 3725
NICKEL+ 1146+ 606
TIN - 15NA 
ZINC - 2175 - 3000 




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EPIC RESEARCH MCX GOLD UPDATE OF 17 APRIL 2015

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Gold futures ended lower in the domestic market on Thursday but worries over a Greek debt default and a plunging US dollar trimmed losses in the precious metal. Standard & Poor’s cut ratings on Greek debt, causing a spike in the country’s bond yields, exacerbating the risk of a catastrophic default for the Mediterranean nation which is facing a race against time to negotiate a debt deal with its creditors, supporting the demand for gold as a safe haven asset. A weaker dollar boosted the demand for gold as an alternative asset. At the MCX, Gold futures for June 2015 contract closed at Rs 26,645 per 10 gram, down by 0.34 per cent after opening at Rs 26,710, against the previous closing price of Rs 26,737. It touched the intra-day low of Rs 26,568 till the closing

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EPIC RESEARCH MCX CRUDE OIL UPDATE OF 17 APRIL 2015

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Crude oil futures surged in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity as traders continued to digest a smaller than expected rise in US crude oil stockpiles last week and a retreat in US production, easing concerns over a global supply glut. The OPEC, which accounts for around 40 per cent of global oil supply, sees demand for its crude rising to 29.3 million barrels per day in 2015, up 80,000 barrels per day from previously estimated. Non-OPEC supply is expected to rise by 680,000 barrels per day in 2015, down from a previous forecast of 850,000 barrels per day increase. At the MCX, Crude oil futures, for the April 2015 contract, closed at Rs 3,559 per barrel, up by 1.8 per cent, after opening at Rs 3,512, against the previous close price of Rs 3,496. It touched an intraday high of Rs 3,580 till the closing.

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EPIC RESEARCH MCX ZINC UPDATE OF 17 APRIL 2015

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Zinc futures climbed in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal as robust US regional manufacturing data signaled a pickup in the world’s biggest economy, lifting the demand outlook for industrial commodities. The gauge measuring manufacturing in the Philadelphia region climbed to 7.5 in April from 5 in March, topping expectations of a rise to 6, and above the mark of zero that separates expansion from contraction. At the MCX, Zinc futures for April 2015 contract closed at Rs 138.9 per 1 kg, up by 0.98 per cent after opening at Rs 137.55, against the previous closing price of Rs 137.55. It touched the intra-day high of Rs 139.4 till the closing.
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EPIC RESEARCH MCX NATURAL GAS UPDATE OF 17 APRIL 2015

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Natural Gas futures rose in the domestic market on Thursday as investors shrugged off a larger than expected stockpiles build in the US which signaled weakening demand for the weather sensitive commodity in the world’s biggest economy. US gas supplies climbed by 63 billion cubic feet in the week ended April 10, 2015, topping expectations of a rise of 53 billion cubic feet and following a 15 billion cubic feet increase in the previous week while supplies rose 22 billion cubic feet in the year ago period with the five-year average gain at 35 billion cubic feet. At the MCX, Natural Gas futures for April 2015 contract closed at Rs 166.90 per 1 kg, up by 1.83 per cent after opening at Rs 163, against the previous closing price of Rs 163.9. It touched the intra-day high of Rs 168.2 till the closing

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LME INVENTORIES DATA 16/4/2015

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MetalDate:
MetalDate:
Aluminium+ 1200
Copper- 25
Lead- 2525
Nickel+ 1146
Tin- 35
Zinc- 2175


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EPIC RESEARCH MCX GOLD UPDATE OF 16 APRIL 2015

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Gold trading range for the day is 26370-26948.
Gold gained as the dollar turned weak after weaker than expected U.S. economic data, while stronger U.S. and European stocks limited the metal's upside.
European Central Bank (ECB) said it expects euro zone economic recovery to broaden and strengthen and ruled out a cut to the deposit rate.


Premiums for physical gold on the Shanghai Gold Exchange picked up to $3-$4 an ounce over spot from just above a dollar earlier this week.

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EPIC RESEARCH MCX SILVER UPDATE OF 16 APRIL 2015

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Silver trading range for the day is 35856-37002.
Silver prices gained amid mounting worries of a Greek default on its sovereign debt.
The precious metal got a boost as the dollar declined for a third straight session against a basket of major currencies.

U.S. industrial output posted its biggest drop in more than 2-1/2 years in March in part as oil and gas well drilling plummeted

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EPIC RESEARCH MCX NATURAL GAS UPDATE OF 16 APRIL 2015

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Natural gas trading range for the day is 153.4-169.4.
Natural gas prices rose as market participants looked ahead to fresh weekly information on U.S. gas inventories to gauge the strength of demand for the fuel.
The U.S. Energy Information Administration's next storage report due on Thursday is expected to show a build of approximately 52 billion cubic feet.


Supplies rose by 22 billion cubic feet in the same week last year, while the five-year average change is an increase of 35 billion cubic feet.

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EPIC RESEARCH MCX CRUDE OIL UPDATE OF 16 APRIL 2015

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Crudeoil trading range for the day is 3285-3611.
Crude oil gained amid tension in the Middle East and signs of a dip in U.S. production.
U.S. crude stocks rose by 1.3 million barrels to 483.69 million last week, a record level for the 14th consecutive week, although the gain was less than expectations.
Iraq is on course to export a record 3.1 million barrels per day (bpd) in April, up from an average of 2.98 million bpd in March, Oil Minister Adel Abdel Mehdi said.

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EPIC RESEARCH MCX COPPER UPDATE OF 16 APRIL 2015

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Copper trading range for the day is 366.3-380.5.
Copper prices gained after weak U.S. factory growth dragged on the dollar, alleviating pressure on commodities.
Official data released earlier showed that China’s economy grew 7.0% in the first quarter, in line with forecasts.


A report from China showed that industrial production rose by an annualized rate of 5.6% in March, below expectations for a 6.9% increase.

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EPIC RESEARCH MCX NICKEL UPDATE OF 16 APRIL 2015

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Nickel trading range for the day is 781-800.2.
Nickel prices gained as industrial action at BHP Billiton’s Cerro Matoso mine in Columbia supported prices.
U.S. industrial output posted its biggest drop in more than 2-1/2 years in March in part as oil and gas well drilling plummeted


China grew at its slowest pace in six years at the start of 2015 and weakness in key sectors suggested the world's second-largest economy was still losing momentum


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EPIC RESEARCH MCX CRUDE OIL UPDATE OF 15 APRIL 2015

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Crude oil futures ended higher in the domestic market on Tuesday in the midst of continuing unrest in Yemen and mixed long-term forecasts on demand and production. Crude futures received a boost as fighting escalated between Iranian-backed, Shiite-led Houthi rebels and Sunni-led Saudi Arabian troops. Prices remained relatively unchanged after the Energy Information Administration (EIA) released its annual energy outlook for 2015 on Tuesday. The EIA estimates that brent will average $56 a barrel for the remainder of the year before increasing to $76 a barrel in 2018. Oil may extend gains today as energy traders await the release of the EIA weekly storage report on Wednesday. At the MCX, Crude oil futures, for the April 2015 contract, closed at Rs 3,342 per barrel, up by 2.11 per cent, after opening at Rs 3,276, against the previous close price of Rs 3,273. It touched an intraday high of Rs 3,354 till the closing.
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EPIC RESEARCH MCX GOLD UPDATE OF 15 APRIL 2015

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Gold futures ended lower in the domestic and overseas market on Tuesday as metal investors locked in profits in spite of a weaker dollar pushed down by mixed U.S. economic data. U.S. retail sales for March rose 0.9 per cent for the month, marking its first monthly in more than three months. The data may not be considered bullish, however, since some economists forecasted a weather-related bounce of more than 1 per cent, following a harsher than usual winter. However, a weaker dollar increased the appeal of Gold as an alternative asset. . At the MCX, Gold futures for June 2015 contract closed at Rs 26,544 per 10 gram, down by 0.58 per cent after opening at Rs 26,622, against the previous closing price of Rs 26,699. It touched the intra-day low of Rs 26,387 till the closing.


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EPIC RESEARCH MCX COPPER UPDATE OF 15 APRIL 2015

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Copper futures ended lower in the domestic market on Tuesday ahead of key Chinese data on GDP, industrial production and retail sales, particularly key for copper from the world's top importer. China's first quarter GDP, industrial output, retail sales and fixed assets investment data are all due with expectations the economy grew 7 per cent year-on-year in the first quarter, and industrial output rose 6.9 per cent, fixed investment up 13.8 per cent and retail sales by 10.9 per cent.  LME copper stocks rose by 3700 metric tonnes to 337500 metric tonnes as on April 14, 2015. Copper prices may decline as traders keep an eye on upcoming global data. At the MCX, Copper futures for April 2015 contract closed at Rs. 372.50 per 1 kg, down by 0.83 per cent after opening at Rs. 375 against the previous closing price of Rs. 375.60. It touched the intra-day low of Rs. 369.15 till the closing.

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EPIC RESEARCH MCX GOLD UPDATE OF 13 APRIL 2015

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Gold trading range for the day is 26412-27024.
Gold prices gained after bulls managed to reverse a previous fall amid debates induced by still unclear rate hike timing.
However upside seen limited pressured by a stronger dollar and renewed expectations for a U.S. rate hike this year.
SPDR gold trust holdings dropped by 1.75 tonnes i.e. 0.24% to 734.29 tonnes from 736.04 tonnes.
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EPIC RESEARCH MCX SILVER UPDATE OF 13 APRIL 2015

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Silver trading range for the day is 35884-37578.
Silver prices gained tracking firmness in gold prices despite talks over timing of the Federal Reserve's rate hike keep investors on the edge.
Investors continue to speculate over when the Fed will start to normalize its interest rates.


Holdings at ishares silver trust gained by 0.74% i.e. 74.36 tonnes to 10084.70 tonnes from 10014.56 tonnes.
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EPIC RESEARCH MCX CRUDE OIL UPDATE OF 13 APRIL 2015

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Crude oil trading range for the day is 3089-3305.
Crude oil gained as concerns over Iranian oil flooding the already oversupplied market in the near term eased.
Strong U.S. refined products futures and data showing a lower U.S. drilling rig count also lent support.


Baker Hughes said the number of rigs drilling for oil in the United States fell by 42 to 760 this week, which also helped to lift oil prices
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EPIC RESEARCH MCX COPPER UPDATE OF 13 APRIL 2015

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Copper trading range for the day is 372.8-384.6.
Copper prices ended with small gains as investors saw value in a metal heading into a seasonally strong quarter for demand.
China's economy probably cooled further to grow 7 percent in the first three months, which could raise pressure on policymakers.


The U.S. Bureau of Labor Statistics said that U.S. import prices fell 0.3% in March, marking the eighth consecutive monthly decline.

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EPIC RESEARCH MCX NICKEL UPDATE OF 13 APRIL 2015

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Nickel trading range for the day is 778.7-809.1.
Nickel prices gained as some investors, betting on price falls, locked in profits, but concerns about Chinese economic growth weighed.
China further loosened restrictions on the property market, which positively affects base metals prices.


Premiums for imported nickel rose in China due to a profitable price gap, although views on the outlook among market participants were mixed.
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