EPIC RESEARCH MCX Menthaoil UPDATE OF 18 April 2019

Menthaoil trading range for the day is 1478.1-1512.9.

* Mentha oil spot at Sambhal closed at 1599.10 per 1kg. Spot prices was down by Rs.-4.10/-.

* Menthaoil settled up amid improved demand from consuming industries at the domestic spot market.

* Further, lower arrivals from major producing belts of Chandausi in Uttar Pradesh also supporting prices.

* However, upside seen limited amid expectations of higher acreage under mint in 2019 due to lucrative prices throughout last year.

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EPIC RESEARCH MCX Aluminium UPDATE OF 18 April 2019

Aluminium trading range for the day is 147.6-149.2.

* Aluminium prices gained amid signs of a slower decline in alumina prices and expectations on higher consumption.

* China's exports rebounded in March but imports shrank for a fourth straight month and at a sharper pace, painting a mixed picture of the economy.

* China's central bank said that it would strengthen coordination between monetary, fiscal and other policies to keep growth stable and forestall risks.

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EPIC RESEARCH MCX Nickel UPDATE OF 18 April 2019

Nickel trading range for the day is 878.7-917.5.

* Nickel prices remained supported after recent signs the global economy is likely to avoid a sharper downturn.

* China’s fiscal spending increased 15 percent during January-March from year ago levels to support economic growth.

* Vale Indonesia Q1 2019 nickel matte output down 24 pct, revises target

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EPIC RESEARCH MCX Zinc UPDATE OF 18 April 2019

Zinc trading range for the day is 224-228.6.

* Zinc gained as support seen after a raft of Chinese data signalled Beijing’s recent stimulus drive might be paying off.

* On-warrant zinc stocks in warehouses tracked by ShFE also marked a 7-percent daily increase to 51,976 tonnes.

* As the monthly delivery of cargoes under LME contracts approaches, the backwardation structure on LME zinc rapidly widened, resulting in higher social inventories.


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EPIC RESEARCH MCX Copper UPDATE OF 18 April 2019

Copper trading range for the day is 449.6-461.8.

* Copper prices rose after data from China showed higher unwrought copper imports in March, while declining inventory and concerns over supply deficit also lent support.

* China imported 391,000 tonnes of unwrought copper last month, up 25.7 percent from the previous month and 26.5 percent higher than a year earlier.

* Copper stocks in LME-approved warehouses were down 2,000 tonnes on April 11 compared with the previous day.

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EPIC RESEARCH MCX Naturalgas UPDATE OF 18 April 2019

Naturalgas trading range for the day is 172.3-181.3.

* Natural gas dropped on forecasts for the weather to warm and heating demand to decline over the next two weeks, allowing utilities to shrink the massive storage deficit.

* The market has become much less volatile over the past couple of months, as was the case this time last year when the weather moderated for spring.

* Projected demand in the Lower 48 U.S. states would slide to an average of 77.5 bcfd next week from a forecast 81.4 bcfd.

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EPIC RESEARCH MCX Crudeoil UPDATE OF 18 April 2019

Crudeoil trading range for the day is 4400-4494.

* Crude oil gained propelled by steady economic growth in China and a fall in U.S. crude stocks which defied expectations and signalled firm demand.

* Russia raised concern the OPEC-led supply-cutting pact may not be renewed. Russia and the producer group may decide to boost output to fight for market share.

* OPEC and other producers including Russia, an alliance known as OPEC+, have been cutting output since Jan. 1.

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EPIC RESEARCH MCX Silver UPDATE OF 18 April 2019

Silver trading range for the day is 36905-37621.

* Silver prices ended with losses amid more positive developments in the Sino-U.S. trade talks.

* Fed Chair Jerome Powell says that interest rates are in the right place

* Fed member Kashkari says that there is still slack in labor market and inflation is below target. Sees no need to tap the brakes

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