DAILY COMMODITY REPORT

24th FEBRUARY

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DAILY MARKET WRAPUP

24th FEBRUARY
COMMODITY CONTRACT OPEN PRICE HIGH LOW CLOSE PRICE %CHANGE OI (in lots)

GOLD SILVER CRUDEOIL COPPER LEAD NICKEL NATURALGAS ZINC ALUMINIUM

05-APR-14 05-MAR-14 19-MAR-14 28-FEB-14 28-FEB-14 28-FEB-14 25-FEB-14 28-FEB-14 28-FEB-14

29865 47380 6393 449.25 132.4 892.1 385.6 127.6 107.85

29970 47683 6411 450.65 133.1 897.9 392 128.25 108.35

29772 47250 6328 448 131.9 888.1 365 126.9 107.3

29889 47467 6359 450.1 132.15 888.5 378 127.05 107.4

-0.08 -0.24 -0.95 +0.06 -0.11 -0.08 -3.11 -0.39 -0.28

11480 9415 10489 7668 3150 5414 15175 2815 2559

LME WAREHOUSE STOCKS (21-FEB- 2014) METAL

ALUMINIUM COPPER LEAD NICKEL TIN ZINC
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TONNES IN STORAGE
-7050 -4250 75 -504 UNCHANGED -4975
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INTERNATIONAL MARKETS
24th FEBRUARY

PRECIOUS AND INDUSTRY METALS COMMODITY

COMEX GOLD GOLD SPOT COMEX SILVER COMEX COPPER PLATINUM SPOT

UNITS
USD/T OZ. USD/T OZ. USD/T OZ. USD/LB. USD/T OZ.

PRICE
1,321.30 1,321.07 21.65 321.75 1,422.56

CHANGE
-2.30 -3.18 -0.17 -4.25 -6.57

% CHANGE
-0.17% -0.24% -0.78% -1.30% -0.46%

CONTRACT
APR 14 N/A MAY 14 MAY 14 N/A

ENERGY COMMODITY FUTURES COMMODITY

CRUDE OIL (WTI) CRUDE OIL (BRENT) RBOB GASOLINE NYMEX NATURAL GAS NYMEX HEATING OIL

UNITS
USD/BBL. USD/BBL. USD/GAL. USD/MMBTU USD/GAL.

PRICE
102.43 110.03 284.53 6.40 311.89

CHANGE
+0.23 +0.18 +1.20 +0.27 +1.97

% CHANGE
+0.23% +0.16% +0.42% +4.35% +0.64%

CONTRACT
APR 14 APR 14 MAR 14 MAR 14 MAR 14

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INTRADAY SUPPORT AND RESISTANCE

24th FEBRUARY

COMMODITY

EXPIRY

SUP.2

SUP.1

PIVOT

RES.1

RES.2

ALUMINIUM

28-FEB

106.63

107.02

107.68

108.07

108.73

COPPER

28-FEB

446.93

448.52

449.58

451.17

452.23

CRUDEOIL

19-MAR

6283

6321

6366

6404

6449

GOLD

5-APR

29679

29784

29877

29982

30075

LEAD

28-FEB

131.18

131.67

132.38

132.87

133.58

NATURALGAS

26-MAR

296.80

301.80

306.10

311.10

315.40

NICKEL

28-FEB

881.7

885.1

891.5

894.9

901.3

SILVER

5-MAR

47034

47250

47467

47683

47900

ZINC
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28-FEB

126.05

126.55

127.40

127.90

128.75
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MOST ACTIVE CONTRACTS

24th FEBRUARY

Symbol
NATURAL GAS SILVERMICRO CRUDE OIL SILVER M SILVER LEADMINI COPPER NICKEL NICKELMINI GOLD M

Expiry Date
25-02-2014 28-02-2014 19-03-2014 28-02-2014 05-03-2014 28-02-2014 28-02-2014 28-02-2014 28-02-2014 05-03-2014

LTP
374.20 47390.00 6353.00 47389.00 47370.00 132.15 450.00 890.20 890.00 30618.00

Value (In Lacs)

4,80,36,802.40 2,45,19,58,600.00 24,59,88,160.00 1,29,30,56,254.00 67,12,32,900.00 16,97,863.20 56,70,450.00 1,10,18,005.40 1,07,65,440.00 34,89,22,728.00

Volume (In Lots)

1,28,372 51,740 38,720 27,286 14,170 12,848 12,601 12,377 12,096 11,396

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TODAY,S COMMODITY NEWS

24th FEBRUARY

COMMODITY HEADLINES
Silver futures down 0.3% on global cues Gold down 0.4% on weak global cues Silver down 0.8% on global cues Copper down marginally on subdued demand Copper down 0.4% on global cues Lead down 0.3% on subdued spot demand, overseas trend NAFED procuring oilseeds and pulse crop ruling below MSP Coriander declines 1.14% on sluggish demand Chana sheds 0.4% on weak demand Crude oil up 0.5% on overseas cues Oil holds above $100 on strong China lending data Crude oil down 0.2% on Asian cues Cotton exports pick up on rupee stability Karnataka gets unified platform for commodity trade Mentha oil rise 0.2% on pick-up in demand

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COMMODITY BUZZ AND ECONOMIC EVENTS

24th FEBRUARY

SPECIAL NEWS
US soybean stocks are to near-double to their highest in eight years, with corn inventories seen hitting their highest in a decade, officials said in their first full crop estimates for next season. Soybean inventories in the US, which spars with Brazil as the top grower of the oilseed, will end 201415 at 285m bushels, as even record exports of 1.6bn bushels, up 6.0% year on year, prove unable to erode supplies lifted by a harvest seen hitting a record high. Corn's global trade over the next decade is expected to increase by 30% while soybean global trade is expected to expand by almost 40%, said chief economist for the USDA. He added that he expected to see a 15% increase in global trade of wheat during the same time period. In his prepared comments at the Feb. 20-21 USDA Agricultural Outlook Forum, the U.S. could expect robust export competition from Brazil in soybeans and corn and the Black Sea Region in wheat and corn. India's gold demand remained buoyant in 2013 and rose by 13 % to 975 tonne vs 2012, despite govt putting in several restrictions to curb imports. Gold demand in the country was 864 tonnes during 2012. China became the largest gold market in the world for the first time in 2013, noted the WGC. Demand for gold in China set a remarkable new record of 1,066 tonnes, a rise of 32% year on year.

COMMODITY BUZZ The Gems and Jewellery Export Promotion Council has demanded the government to reduce import duty on gold from the existing 10 per cent to two per cent. The council comes under the ministry of commerce. In a memorandum to the ministries of commerce and finance, GJEPC said the government, with duty hike on gold imports, had managed to bring the current account deficit under control. Since the imposition of 80:20 scheme (under which 20 per cent of imported gold should be supplied to jewellery exporters), the desired curb in the total import of gold has now been duly achieved. So the import duty should be rolled back to much lower rate, say two per cent, said Vipul Shah, chairman of GJEPC. FMC and NCDEX is planning to apply for approval of the relaunch of futures trading in tur, urad and rice. This comes in the wake of the FMC chairman Ramesh Abhishek stating in Panji on Thursday that the regulator is considering favorably to bring back futures trading in tur, urad and rice shortly. Oil prices fell in Asian trade after a closely-watched index showed that China's key manufacturing sector contracted further in February to hit its lowest level in seven months. US benchmark WTI for March dropped 17 cents to $103.14 in late morning trade, while Brent North Sea crude eased 56 cents to $109.91 for its April delivery.

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EPIC RESEARCH ANALYST SPEAKS

24th FEBRUARY

SILVER
SilMCX ver

March Silver opened week at 47, 492 levels and made weekly low of 46,932 levels and high of 48,090 levels and manage to close near to the same opening levels. For the next week we expect silver prices to find support around 46,850 levels. Trading consistently below 46,850 levels would lead towards the strong support 46,000 levels. On the other side Resistance is now observed around 48,200 levels. Trading consistently above 48,200 levels would lead towards the strong resistance at 49,200 levels, and then finally towards the Major resistance at 50,000 levels. BUY SILVER ABOVE 47700 TGTS 47900/48200 SL 47350 SELL SILVER BELOW 47250 TGTS 47000/46650 SL 47600

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EPIC RESEARCH ANALYST SPEAKS

24th FEBRUARY

GOLD

MCX Gold April as seen in the weekly chart prices rallied sharply breaking both the resistance levels towards 30,260 levels, but could not sustain corrected back towards 29,900 levels. For the next week we expect gold prices to find support around 29,300 levels. Trading consistently below 29,300 levels would lead towards the strong support at 29,050 levels and then finally towards the major support at 28,800 levels. On the other side Resistance is now observed around 30,500 levels. Trading consistently above 30,500 levels would lead towards the strong resistance at 31,000 levels, and then finally towards the Major resistance at 31,500 levels. BUY GOLD(APR) ABOVE 29980 TGTS 30060/30200 SL 29860 SELL GOLD(APR) BELOW 29790 TGTS 29710/29610 SL 29910

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EPIC RESEARCH ANALYST SPEAKS

24th FEBRUARY

GUARGUM

RESISTANCE 2

13,550

RESISTANCE 1

13,400

PIVOT

13,290

SUPPORT 1

13,140

SUPPORT 2

13,030

March Guargum traded standstill in NCDEX the whole day and closed weak. A day before Guargum remained choppy on Spot market too. BUY GUARGUM ABOVE 13350 TGTS 13410,13480 SL 13250 SELL GUARFUM BELOW 13180 TGTS 13120,13050 SL 13280

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EPIC RESEARCH ANALYST SPEAKS

24th FEBRUARY

DHANIYA

RESISTANCE 2

9470.7

RESISTANCE 1

9329.3

PIVOT

9244.7

SUPPORT 1

9103.3

SUPPORT 2

9018.7

Coriander futures are likely to trade higher on forecast of lower output due to crop damage in Madhya Pradesh and Rajasthan. Sentiments may also improve due to good demand for the spice in India. However, rising supply of new crop in Kota and Ramganj markets might cap major gains BUY DHANIYA ABOVE 9230 TGTS 9260,9310 SL 9180 SELL DHANIYA BELOW 9140 TGTS 9170,9220 SL 9090

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TODAYS ECONOMIC EVENTS

24th FEBRUARY

MONDAY, FEBRUARY 24 TIME

07:00 07:30 14:30 14:30 14:30 TENTATIVE 15:30 15:30 15:30 15:30 16:30 19:00 19:30 19:30 21:00

COUNTRY
CNY NZD EUR EUR EUR EUR EUR EUR EUR EUR BRL USD MXN USD USD

EVENT
CHINA HOUSE PRICES (YOY) CREDIT CARD SPENDING (YOY) GERMAN BUSINESS EXPECTATIONS GERMAN CURRENT ASSESSMENT GERMAN IFO BUSINESS CLIMATE INDEX SPANISH BUSINESS CONFIDENCE CORE CPI (YOY) CORE CPI (MOM) CPI (YOY) CPI (MOM) FGV CONSUMER CONFIDENCE CHICAGO FED NATIONAL ACTIVITY MEXICAN UNEMPLOYMENT RATE SERVICES PMI DALLAS FED MFG BUSINESS INDEX

ACTUAL FORECAST PREVIOUS

9.60% 9.2% 108.2 112.8 110.6 -10 0.8% 9.90% 4.7% 108.9 112.4 110.6 -11 0.7% 0.3% 0.7% -1.1% 106.00 -0.20 4.83% 56.9 3.0 0.7% 0.3% 108.90 0.16 4.25% 56.7 3.8

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24th FEBRUARY
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