Commodities Daily
Overview
•
•
•
Asia shares inch ahead, eye rally in US stock
futures
Little immediate reaction of U.S. strikes on Syria
Trump keeps up pressure on trade ahead of Xi
speech, Dollar steadies, major currencies hold
tight ranges
Oil edges higher, Treasuries ease
Monday, April 09, 2018
Close
Precious metals
Gold
Silver
Energy
WTI Crude oil
Brent Crude
Natural gas
Base metals – LME
COMEX Copper
Copper
Aluminium
Nickel
Lead
Zinc
Others
DXY
US 10yr
CBOE VIX
90.11
2.80
21.42
3
6789
2081
13170
2371
3215
1332.9
16.35
61.89
67.44
2.70
%Chg.
0.5%
0.0%
-2.8%
0.2%
0.0%
-0.4%
0.5%
1.3%
-0.7%
-0.5%
-0.8%
-0.4%
0.8%
13.5%
•
Precious Metals
Gold prices slipped in the early trade in the Asian
markets as the dollar firmed up on the back of easing
tensions between U.S and North Korea as the North
Korean leader Kim Jong Un is ready to discuss
denuclearization deal with the U.S President Donald
Trump. The trade war tensions amongst U.S and
China is still a concern in the global market. The fed
chairman Jerome Powell said the Fed would keep
rising the rates at steady pace to keep inflation
under control and further said that it is too soon to
know whether the trade tension would hit the U.S
economy or not. The U.S economy created lowest
number of jobs in six months in March but the pickup
in wage gains signalled a tightened labour market and
its quite a support to encourage Fed to keep rising
rates ahead in the year. Investors have cut long
positions in COMEX gold and boosted their net short
position in Silver to a record, U.S CFTC data showed.
Please Refer to Disclaimer at the end of the report
Page 1

Commodities Daily
Base Metals
Base metals traded flat, while aluminium rebounded
on Friday after the United States imposed sanctions on
allies of President Vladimir Putin and their companies,
including Rusal, one of the world's biggest aluminium
producers. Rusal is a significant producer and
essentially what this risks doing is making that material
very tough for consumers in the West to buy. Some
support came after the dollar reversed direction and
went into the red as a report showed the US economy
in March created the fewest jobs in six months and as
investors worried about trade wars. London copper
eased as the dollar rose, but steadied for a second
week as worries over an escalating trade conflict
between China and the US eased and expectations of
rising seasonal demand in the second quarter
supported prices.
CFTC data
Gold
Silver
Copper
Crude oil
Nat gas
EUR/USD
DXY
Speculative
Longs
137849
-39604
3821
424256
112532
134381
-1185
Change WoW
-34985
-5751
97
-43759
-6570
-6683
575
INVENTORIES
Energy
Crude oil
Current
W/W Chg. Units
425.33
238.48
129.49
3.13
Current
LME
1260900
970233
370750
306645
317328
39226
129225
25408
205350
146756
-4.62
-1.12
0.54
-0.21
MBbl
MBbl
MBbl
TCF
Energy
Oil prices cracked by over 2% on Friday, with some
stability seen in the morning session today on back of
concerns of an intensifying trade dispute between the
U.S. and China, as well as increased U.S. drilling
activity. The heightened possibility of an outright tariff
war is conjuring up images of slowed economic growth
that could curtail strong oil demand that has helped to
revive strong pricing environment during past couple
of months. Oil rig data on Friday showed that drillers
added 11 rigs looking for new production in week to
April 6, bringing the total count to 808, the highest
level since March 2015. As a result, U.S. exports have
soared in recent months, more than offsetting the
Venezuelan supply disruption as result of economic
crisis. In physical oil markets, Iraq announced that it is
keeping prices for its crude supplies in May steady.
Investors await monthly report from Opec and IEA due
this week to get further clues on crude oil prices.
Please Refer to Disclaimer at the end of the report
Gasoline
Distillate
Natural gas
Base Metals
Aluminium
SHFE
w/w
LME
Copper
SHFE
w/w
LME
Nickel
SHFE
w/w
LME
Lead
SHFE
w/w
LME
Zinc
SHFE
w/w
Precious metals
GOLD ETF
Silver ETF
Daily Chg. Units
-4450
-154
-2100
434
-1104
0
75
2367
-1975
-4171
MT
MT
MT
MT
MT
MT
MT
MT
MT
MT
1777.4
19526
3.31
15.65
MT
MT
Page 2
MT- Metric Tonne, MBBL – Million Barrels, BCF – Billion Cubic Feet.

Commodities Daily
Commodity
Month
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Price
992.8
4119
3806
1381
20620
654.8
5234
8775
4100
14940
1420
3952
3804
781.1
3015
6454
1677
%Chg.
-1.30%
0.15%
0.05%
0.40%
0.63%
-0.08%
-1.54%
0.23%
0.39%
-1.19%
-2.55%
-0.73%
-0.47%
0.10%
0.13%
0.16%
-0.18%
Agricultural Commodities
Soyabean on settled down tracking weakness in spot
demand on profit booking after prices gained supported
by the development that government allowed export of
all edible oils in bulk barring mustard oil will increase
crushing in coming weeks. Moreover setback in
monsoon during July and August predicted by global
models also support prices as it may affect soybean crop
during next season.
The arrivals in the physical market have been lower in
first 25 days of March at 1.91 lt compared to 2.85 lt last
year for same period. According to data released by SEA
Soymeal exports for Apr-Feb oilmeal exports rose 38%
on year at 11.2 lt due to firm demand from Vietnam and
South Korea. Meanwhile trade body SOPA cuts soybean
production by nearly 10 lt to 83.5 (lt) for 2017/18 crop.
According to the latest report released by the USDA
China s soybean imports in 2018/19 are estimated to be
around 100 MMT compared to imports of 97 MMT in
2017/18.
Mentha oil futures exhibited mixed trend. April contract
declined on weak demand in the spot market, while
May contract gained on tight stocks position on fall in
arrivals from the major producing belts of Chandausi in
Uttar Pradesh.
Cardamom futures traded mixed, as May contract
traded lower on offloading of bets by participants amid
sluggish demand, while June contract improved on
technical buying at prevailing lower prices.
Cardamom
Castor Seed
Chana
COCUDAKL
Cotton
CPO
Dhaniya
Guar Gum
Guar Seed
Jeera
Mentha Oil
R M Seed
Soyabean
Soyoil
Sugar
Turmeric
Wheat
Commodity
Malaysian Palm Oil
US Soybean
US Soyoil
US Soymeal
ICE US Cotton
China Cotton
US Sugar
Expiry
Apr
May
May
May
May
May
Apr
Price
2479
1054
31.69
391.8
83
14760
12.34
% Chg.
1.52%
1.96%
0.51%
1.42%
0.56%
0.24%
-0.08%
Please Refer to Disclaimer at the end of the report
Page 3

Commodities Daily
Level Playing Sheet
Call
% Chg in OI
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
Commodity
GOLD
GOLD
SILVER
SILVER
CRUDE
CRUDE
NAT GAS
COPPER
ZINC
LEAD
NICKEL
ALUMINIUM
Commodity
CARDAMOM
CASTOR SEED
CHANA
COCUDAKL
COTTON
CPO
DHANIYA
JEERA
GUAR SEED
GUAR GUM
MENTHA OIL
R M Seed
SOYBEAN
SOYOIL
TURMERIC
WHEAT
SUGAR
Exch.
MCX
Comex
MCX
Comex
MCX
Nymex
MCx
MCX
MCX
MCX
MCX
MCX
Exch.
MCX
NCDEX
NCDEX
NCDEX
MCX
MCX
NCDEX
NCDEX
NCDEX
NCDEX
MCX
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
NCDEX
OI
0
0
0
10
1
0
2
2
12
Volume
0
0
0
0
0
0
0
0
0
Close
30694
1333
38235
16.36
4029
62.10
175.9
438.3
211.3
155.6
860.9
133.0
Close
993
4,119
3,806
1,381
20,620
655
5,234
14,940
4,100
8,496
1,420
3,952
3,804
781
6,454
1,677
3,207
Premium
1111
965
896
750
766.5
706
648.5
594
493.5
S2
30399
1314
37894
16.12
3943
60.67
173.0
433.3
207.6
152.0
833.5
127.0
S2
982
4,086
3,773
1,362
20,420
650
5,184
14,653
4,053
8,387
1,378
3,913
3,762
776
6,358
1,668
3,126
S1
30546
1323
38064
16.24
3986
61.38
174.5
435.8
209.5
153.8
847.2
130.0
S1
987
4,103
3,790
1,371
20,520
653
5,209
14,797
4,076
8,442
1,399
3,933
3,783
779
6,406
1,673
3,167
Gold Option
Monitor
Strike
29600
29800
29900
30000
30100
30200
30300
30400
30600
Pivot
30648
1330
38264
16.36
4058
62.58
175.7
437.6
210.5
154.9
855.3
131.7
Pivot
996
4,120
3,810
1,383
20,600
655
5,250
15,043
4,099
8,504
1,436
3,960
3,809
781
6,448
1,679
3,213
Put
Premium
173
225.5
255.5
105.5
324
362.5
120
153
546
R1
30795
1339
38434
16.48
4101
63.29
177.2
440.0
212.4
156.7
869.0
134.7
R1
1,001
4,137
3,827
1,392
20,700
657
5,275
15,187
4,122
8,559
1,457
3,980
3,830
783
6,496
1,684
3,254
R2
30897
1346
38634
16.59
4173
64.49
178.4
441.8
213.4
157.8
877.1
136.3
R2
1,010
4,154
3,847
1,403
20,780
659
5,316
15,433
4,145
8,621
1,494
4,007
3,856
785
6,538
1,690
3,300
Volume
0
0
0
7
0
0
0
0
0
Trend
Bullish
nu
Bearish
Flat
Bearish
Bearish
Strong
Bearish
Bearish
Bearish
Bearish
Flat
Trend
Bearish
Bearish
Bullish
Bearish
Bullish
Bullish
Bearish
Strong
Flat
Flat
Bullish
Bearish
Bearish
Bearish
Bearish
Bearish
Bearish
OI
0
0
0
58
0
1
1
3
2
Conviction
High
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Conviction
Moderate
Moderate
High
Moderate
High
Low
Moderate
Low
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
Moderate
% Chg in OI
0.0%
0.0%
0.0%
5.5%
0.0%
0.0%
0.0%
0.0%
0.0%
Intraday Range
30597 - 30846
1326 - 1343
37979 - 38349
16.3 - 16.54
3965 - 4080
61 - 63
175 - 178
437 - 441
210 - 213
154 - 157
851 - 873
131 - 135
Intraday Range
991 - 1005
4112 - 4146
3782 - 3819
1367 - 1387
20560 - 20740
654 - 658
5196.5 - 5263
14725 - 15115
4088 - 4134
8473 - 8590
1388 - 1446
3923 - 3970
3773 - 3820
780 - 784
6382 - 6472
1676 - 1687
3147 - 3234
Expiry
Jun
May
May
May
Apr
May
Apr
Apr
Apr
Apr
Apr
Apr
Expiry
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Apr
Jan
Please Refer to Disclaimer at the end of the report
Page 4

Commodities Daily
Navneet Damani
Research Analyst(Commodities)
Commodity Disclosure:
The following Disclosures are being made in compliance with the SEBI Research Analyst Regulations 2014 (herein after referred to as the Regulations).
Motilal Oswal Securities Ltd. (MOSL) is a SEBI Registered Research Analyst having registration no. INH000000412. MOSL, the Research Entity (RE) as defined in the Regulations, is engaged in the business of providing
Stock broking services, Investment Advisory Services, Depository participant services & distribution of various financial products. MOSL is a subsidiary company of Motilal Oswal Financial Service Ltd. (MOFSL). MOFSL is
a listed public company, the details in respect of which are available on www.motilaloswal.com.
MOSL is registered with the Securities & Exchange Board of India (SEBI) and is a registered Trading Member with National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange Limited (BSE), Metropolitan
Stock Exchange Of India Ltd. (MSE) for its stock broking activities & is Depository participant with Central Depository Services Limited (CDSL) & National Securities Depository Limited (NSDL) and is member of
Association of Mutual Funds of India (AMFI) for distribution of financial products. One of the group companies of MOSL is Motilal Oswal Commodities Broker Pvt. Ltd. (MOCBPL) which is a registered member with MCX
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regulations to hold inquiry and adjudge violation of SEBI Regulations; MOSL requested SEBI to provide all documents, records, investigation report relied upon by SEBI which were referred in Show Cause
Notice. The matter is currently pending.
Terms & Conditions:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
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document may come are required to observe these restrictions.
This material is for the personal information of the authorized recipient and we are not soliciting any action based upon it.
This report is not to be construed as an offer to sell or solicitation of an offer to buy any commodity or commodity derivative to any person in any jurisdiction where such an offer or solicitation would be
illegal.
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Neither MOSL, nor any person connected with it, accepts any liability arising from the use of this document.
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Page 5