#mcx copper price

[hauntedqueenking]

[ad_1] Base metals, known for their abundant availability and affordability, play a significant role in various industries. Unlike precious metals such as gold and silver, base metals are easier to mine and are traded extensively on exchanges like the London Metal Exchange (LME) and the Multi Commodity Exchange (MCX). Some of the most commonly traded base metals include copper, zinc, aluminium, and lead. These metals are crucial in sectors like manufacturing, infrastructure development, building construction, and equipment production.Factors Influencing Base Metal PricesThe pricing of base metals is influenced by various factors that reflect both global economic conditions and industry-specific dynamics. One critical element is the economic situation in China, which, as the largest consumer and producer of base metals, plays a foundational role in global pricing. The balance between supply and consumer demand is another essential factor that directly impacts metal prices. Increased industrial and manufacturing activities typically lead to a heightened demand for base metals, driving prices upward. Moreover, geopolitical stability in major producing countries affects production levels and can introduce additional volatility in the market. Data on inventory levels at the London Metal Exchange (LME) is also important, as it helps traders assess the market's supply and demand balance. Additionally, fluctuations in the Dollar Index can affect the attractiveness of base metals since they are priced in U.S. dollars. Monetary policies from major central banks influence economic conditions, thereby impacting both the demand for and prices of these metals. Furthermore, economic data print from the USA and China are crucial, as key data releases from these two economies can significantly influence market sentiment and prices. Finally, mine closures and restarts lead to changes in production capacity, which can cause immediate shifts in supply.Current Market Dynamics for Base MetalsPresently, the Dollar Index stands at a multi-week high of around $107, which has diminished the appeal for industrial metals, given that these commodities are dollar-denominated. A sluggish Chinese economy, coupled with the absence of substantial stimulus measures, is constraining base metal prices. Additionally, the possibility of tariffs on China after Donald Trump winning the presidential election have changed the market sentiment towards copper and other metals. Ongoing geopolitical tensions, notably between Russia and Ukraine and in the Middle East, are also likely to keep prices volatile.Trading Base Metals with LME Inventories and Economic IndicatorsTo successfully trade base metals one must consider various economic indicators that impact prices. Key economic data such as the ISM Manufacturing Purchasing Managers' Index (PMI), Durable Goods Orders, GDP data, Construction Spending, Caixin Manufacturing PMI, and Industrial Production are crucial in formulating trading strategies. In this context, we are discussing ISM Manufacturing PMI data for a better understanding of the movement of copper.ISM Manufacturing PMI is a key indicator for base metals and is released once a month during the first week. Traders pay close attention to this data because it serves as a leading indicator of economic health. Businesses often react quickly to market conditions, and purchasing managers provide the most current and relevant insight into their company's economic outlook.Latest Data (November 1, 2024):- Actual: 46.5- Forecast: 47.6- Previous: 47.2Since the actual data fell short of the forecast, the impact on base metals was negative, leading to a correction of over 6% in MCX Copper from its November high. It is important to note that price action and global sentiment must also be supportive of such a significant move.LME Inventories Data: In India, LME Inventories data is updated at 2:30 PM during Standard Time and at 1:30 PM during Daylight Saving Time. The LME numbers are updated for all base metals; we will use copper as an example. LME data indicates the amount of stock available in the warehouse. A significant drop in inventories signals lower supply and may drive prices higher, and vice versa. For example, if inventories have been declining by 10000-15000 tons per day and then decreased by 40000 tons today, traders will likely react quickly to this news, indicating a potential supply deficit in the market that may push prices higher.Base metals offer a great opportunity for traders. They are often underrated in commodities trading. As mentioned earlier, base metals are more commonly available and easier to mine than precious metals. This results in less volatility within the base metals market, making it easier for traders to identify support and resistance levels, as prices usually trade within a narrow range. With the right technical tools and by staying updated on the latest economic news, trading base metals can be more straightforward than trading precious metals or oil.Now that we have a basic understanding of base metals, let's delve into the technical aspects.As previously discussed, various factors and economic data can impact base metal prices. Additionally, there are several technical indicators that can assist in trading these prices. One of the most suitable indicators, based on price action, is the Bollinger Band.Bollinger Bands consist of three lines: the middle line represents the moving average, while the two outer bands indicate price volatility. When prices cross or touch the bands, it signals overbought or oversold conditions, helping traders identify potential reversals or trends. Bollinger Bands are particularly effective for base metals because these markets often trade within predictable ranges influenced by supply and demand factors. The bands help identify overbought or oversold conditions, allowing traders to spot potential reversals or breakouts within volatile yet range-bound price movements.The StrategyIf prices move above the upper Bollinger Band, it indicates an overbought zone. Wait for the next candle to move back inside the band, then take a short position and place a stop-loss order above the previous candle's high. This strategy is most effective on a 4-hour chart. It is advisable to backtest it across all base metal commodities to assess its effectiveness and utility in trading.(The author Deveya Gaglani is Research Analyst- Commodities at Axis Securities. Views are own) [ad_2] Source link

[ezraworld1]

[ad_1] Base metals, known for their abundant availability and affordability, play a significant role in various industries. Unlike precious metals such as gold and silver, base metals are easier to mine and are traded extensively on exchanges like the London Metal Exchange (LME) and the Multi Commodity Exchange (MCX). Some of the most commonly traded base metals include copper, zinc, aluminium, and lead. These metals are crucial in sectors like manufacturing, infrastructure development, building construction, and equipment production.Factors Influencing Base Metal PricesThe pricing of base metals is influenced by various factors that reflect both global economic conditions and industry-specific dynamics. One critical element is the economic situation in China, which, as the largest consumer and producer of base metals, plays a foundational role in global pricing. The balance between supply and consumer demand is another essential factor that directly impacts metal prices. Increased industrial and manufacturing activities typically lead to a heightened demand for base metals, driving prices upward. Moreover, geopolitical stability in major producing countries affects production levels and can introduce additional volatility in the market. Data on inventory levels at the London Metal Exchange (LME) is also important, as it helps traders assess the market's supply and demand balance. Additionally, fluctuations in the Dollar Index can affect the attractiveness of base metals since they are priced in U.S. dollars. Monetary policies from major central banks influence economic conditions, thereby impacting both the demand for and prices of these metals. Furthermore, economic data print from the USA and China are crucial, as key data releases from these two economies can significantly influence market sentiment and prices. Finally, mine closures and restarts lead to changes in production capacity, which can cause immediate shifts in supply.Current Market Dynamics for Base MetalsPresently, the Dollar Index stands at a multi-week high of around $107, which has diminished the appeal for industrial metals, given that these commodities are dollar-denominated. A sluggish Chinese economy, coupled with the absence of substantial stimulus measures, is constraining base metal prices. Additionally, the possibility of tariffs on China after Donald Trump winning the presidential election have changed the market sentiment towards copper and other metals. Ongoing geopolitical tensions, notably between Russia and Ukraine and in the Middle East, are also likely to keep prices volatile.Trading Base Metals with LME Inventories and Economic IndicatorsTo successfully trade base metals one must consider various economic indicators that impact prices. Key economic data such as the ISM Manufacturing Purchasing Managers' Index (PMI), Durable Goods Orders, GDP data, Construction Spending, Caixin Manufacturing PMI, and Industrial Production are crucial in formulating trading strategies. In this context, we are discussing ISM Manufacturing PMI data for a better understanding of the movement of copper.ISM Manufacturing PMI is a key indicator for base metals and is released once a month during the first week. Traders pay close attention to this data because it serves as a leading indicator of economic health. Businesses often react quickly to market conditions, and purchasing managers provide the most current and relevant insight into their company's economic outlook.Latest Data (November 1, 2024):- Actual: 46.5- Forecast: 47.6- Previous: 47.2Since the actual data fell short of the forecast, the impact on base metals was negative, leading to a correction of over 6% in MCX Copper from its November high. It is important to note that price action and global sentiment must also be supportive of such a significant move.LME Inventories Data: In India, LME Inventories data is updated at 2:30 PM during Standard Time and at 1:30 PM during Daylight Saving Time. The LME numbers are updated for all base metals; we will use copper as an example. LME data indicates the amount of stock available in the warehouse. A significant drop in inventories signals lower supply and may drive prices higher, and vice versa. For example, if inventories have been declining by 10000-15000 tons per day and then decreased by 40000 tons today, traders will likely react quickly to this news, indicating a potential supply deficit in the market that may push prices higher.Base metals offer a great opportunity for traders. They are often underrated in commodities trading. As mentioned earlier, base metals are more commonly available and easier to mine than precious metals. This results in less volatility within the base metals market, making it easier for traders to identify support and resistance levels, as prices usually trade within a narrow range. With the right technical tools and by staying updated on the latest economic news, trading base metals can be more straightforward than trading precious metals or oil.Now that we have a basic understanding of base metals, let's delve into the technical aspects.As previously discussed, various factors and economic data can impact base metal prices. Additionally, there are several technical indicators that can assist in trading these prices. One of the most suitable indicators, based on price action, is the Bollinger Band.Bollinger Bands consist of three lines: the middle line represents the moving average, while the two outer bands indicate price volatility. When prices cross or touch the bands, it signals overbought or oversold conditions, helping traders identify potential reversals or trends. Bollinger Bands are particularly effective for base metals because these markets often trade within predictable ranges influenced by supply and demand factors. The bands help identify overbought or oversold conditions, allowing traders to spot potential reversals or breakouts within volatile yet range-bound price movements.The StrategyIf prices move above the upper Bollinger Band, it indicates an overbought zone. Wait for the next candle to move back inside the band, then take a short position and place a stop-loss order above the previous candle's high. This strategy is most effective on a 4-hour chart. It is advisable to backtest it across all base metal commodities to assess its effectiveness and utility in trading.(The author Deveya Gaglani is Research Analyst- Commodities at Axis Securities. Views are own) [ad_2] Source link

[cost-masters]

Copper's Downward Spiral: Will China's Economic Troubles Continue?

Copper prices have experienced a significant drop, reaching their lowest levels in more than two weeks. The decline is primarily attributed to weak economic data from China, particularly in the manufacturing and property sectors. This has raised concerns about reduced demand for the red metal.

MCX Copper prices have fallen by 0.2% to ₹783.80 per kg, hitting a low of ₹780.90 during the session. Similarly, three-month copper on the London Metal Exchange (LME) has dropped by 2%, reaching its weakest point since August 15. US Comex copper futures have also declined by 2.9%.

The weakening Chinese economy, coupled with the strengthening US dollar and increased copper inventories, has created a downward pressure on copper prices. The red metal is currently trading below its 200-day moving average, indicating further downside risk.

Goldman Sachs has recently cut its 2025 copper price forecast, citing concerns about China's economic challenges. However, analysts remain optimistic about the potential for a rebound in copper prices.

Stimulus measures from China and interest rate cuts by the US Federal Reserve could provide some support to the copper market. Additionally, the seasonal factors of September, October, and November are generally favorable for copper prices.

Despite the current downturn, copper prices are expected to find support at certain levels. Analysts predict that LME copper prices may find support at $8,700, while resistance is placed at $9,300. For MCX copper, support levels are estimated near ₹768-770, with potential upside to ₹828-830 if prices break above ₹812.

[marketinvestor-mi]

MCX Copper Tips For Today, 25 August 2023: Disha Mishra

MCX Copper Tips For Today, 25 August 2023: SELL COPPER (SEP) 732—733 TARGET PRICE 726.50——721 Sl (STOP LOSS) 738 – Disha Mishra

[gadgetsforusesblog]

Lead-Mentha oil weak in MCX futures market, Copper-Zinc-Gold up, know what was the price of which metal?

New Delhi: In India’s Metal and Commodity Exchange MCX, on Monday, weakness was being recorded in the prices of Lead, Mentha Oil, Natural Gas and Gold Petal. If we talk about the future market of Metal and Energy Exchange, then the prices of Copper, Zinc, Goldguine, Crude Oil, Aluminium, Silver and MCX Gold X were registering a rise. In the futures market of MCX, lead with expiry on January 31…

[deliciousunknownarbiter]

https://enrichbroking.in/copper-commodity

Copper Nov future daily chart has formed "Right angled ascending broadening wedge" pattern. There were few sideways rallies within the channel in the last few sessions, while the market has traded lower and closed in strong red for the last session.

[goldsilverreports]

MCX Copper Tips Today: Copper Pani Pani Low 718.80 - Copper Under Selling Zone

MCX Copper Tips Today: Copper Pani Pani Low 718.80 – Copper Under Selling Zone

MCX Copper Tips Today: Copper Pani Pani Low 718.80 – Copper Under Selling Zone. MCX Copper Tips Today – Copper Low 718.80 (more…)

[intradaymcxtipsstuff]

Intraday Crude Oil Jackpot Calls has arrangements of 98% precise outcomes as 100% is rarely possible. Our exchanging calls contain the most recent exchanging patterns for your monetary advantages and these calls could be helped through SMS alarms, courier, or direct call. Intraday MCX gives the best MCX Crude oil Jackpot requires your money-related advantages.

[intradaymcxtipsseo]

Experience Matters when it comes to MCX Trading Learning over and over is the key thing that makes us a master of any field. 100%  Accurate Tips in India  technical team for Highly accurate Researches Highly Professional Team of Experts who work day and night to provide quality assistance. 25 Years of practical experience .

[abksecurities01]

Commodity Trading Advisor

Unlike shares, stocks, bonds, etc. commodities have a tangible existence. These include food, grains, metals, oil where investors buy and sell through futures contracts. To trade in commodities you need a trusted broker to deal on your behalf.ABK Securities is a registered commodity trading advisor at both MCX and NCDEX. The price of commodities is determined by the law of demand. As the commodities are substances that come out from the earth in most cases, their prices remain the same universally. The mainstream commodity markets can be classified as 1) Precious metals include gold, silver, platinum, and palladium. Industrial metals include aluminum, aluminum alloy, nickel, lead, zinc, tin, recycled steel, and copper; 2) Livestock include live cattle, feeder cattle, pork bellies, etc.; 3) Agricultural products include soybeans, soybean meals & oil, wheat, cotton, tea, pulses, sugar, corn, rice, coffee, etc.; 4) Energy includes ethanol, propane, natural gas, crude oil, Brent crude oil, uranium and more. We, at ABK Securities, have an in-depth knowledge of commodity derivative market, futures & options contracts, etc. to guide your investments in every possible way.

Commodity Broker in Ahmedabad

The commodity market brings the new investment avenues to investors. Commodity trading in India offers a golden opportunity to diversify the investment portfolio. At a time when shares, bonds, savings do not yield high returns or subject to volatility, a commodity is a good option of having a fair return at adequate risk. ABK Securities is a leading Commodity Broker in Ahmedabad providing enhanced risk adjusting returns to investors. Our commodity trading insights are backed by in-depth research done by a specialized team. The objective is to produce fruitful results for our clients. The research team and advisors make sure that all the decisions taken by them in commodity trading should be backed by logic, trend, sentiments, market forecasting and amalgamation of all these.

Where to invest in commodities?

There are six major commodity trading exchanges in India as listed below.

Multi Commodity Exchange – MCX

National Commodity and Derivatives Exchange – NCDEX

National Multi Commodity Exchange – NMCE

Indian Commodity Exchange – ICEX

Ace Derivatives Exchange – ACE

The Universal Commodity Exchange – UCX

[marketinvestor-mi]

MCX Copper Trend Today: Above 751 if stays

MCX Copper Trend Today: Above 751 if stays

MCX Copper Trend Today: Above 751 if stays. we see rally upto 768—-774 !! But….at risky point !!! Will update u more soon. Anirudh Sethi Report

[rannashris-blog]

Mcx data

Mcx tips

MCX Free Tips - Best Mcx Commodity Market of India Trading Tips Provider website for Free. Mcx Crude, Zinc, Copper, Lead, Nickel, Natural Gas, Gold, Silver Live Target Calls with Trends Today & Earnometer Support level. Daily LME Inventory Report, Live price Charts.

[parasnathcommodities]

Invest and Trade in Commodities

Products utilized in daily life are referred to as commodities. These can be traded in for money or other items. Commodities cover a wide range of products, such as wheat, crude oil, natural gas, diamonds, etc.

The concepts of supply and demand determine the price of goods. The price of a commodity increases with its demand. Conversely, a commodity's price decreases as supply increases. Government policies, production costs, geopolitical circumstances, etc. are other factors influencing commodities prices. Therefore, commodities are erratic investments.

You can trade commodities on an exchange, much like equity shares. The trade of commodities is made possible through the spot and futures markets. Commodity Trading and settlement are instant in spot markets. Commodities are exchanged at specified future prices and settled on contract expiration in the futures market.

While the seller is obligated to supply the underlying commodity, the buyer of the futures contracts has the right to purchase it on the contract's stated expiration date. The ability to buy or sell a commodity at a predetermined price on a specific future date is also provided by options contracts, which are likewise accessible for use in commodity trading but do not impose any obligations on the trader.

MCX (Multi Commodity Exchange) and NCDEX are the two main exchanges in India where commodities are traded (National Commodity & Derivative Exchange Limited). It is controlled by SEBI and owned by the Ministry of Finance. On exchanges, which can be broadly classified into these-  Aluminum, zinc, copper, lead, brass, lead, and nickel are metals. Gold, silver, and platinum are precious metals. Agro commodities include rice, dal, maize, wheat, soybeans, cotton, oil, pepper, cardamom, sugar, turmeric, and many others. Crude and natural gas in energy.

This is representative and leaves out many of the commodities that are traded on the MCX.

An MCX broker serves as a middleman between the investor or trader and the exchange. A commodity trading account must be activated with a commodity broker in order to start trading. You can open the account offline or online and take help from Parasnath Commodities.

An application form, KYC documents, bank information, and income documentation are all prerequisites. With the broker, a member-client agreement must be signed. Finally, a demat account must be connected to the commodities trading account. For more information please call +91 9000025330

[tradingnew01]

UNDERSTAND THE ZINC MARKET

Introduction

Traders looking to diversify their portfolios or to experience greater risks are often attracted to commodity investments, including commodity derivatives. One of the commodities traded in the Indian markets is the metal zinc. In terms of tonnage, zinc is the fourth most produced metal in the world - following iron, aluminium and copper. While this article does not give you any specific commodity tips, it does explain the basics of the zinc market so that you can seriously consider trading in zinc or its derivatives, so read on.

What are the uses of zinc?

It is used primarily as a coating for iron and steel to prevent corrosion, as a metal in die-casting and as an alloying metal in bronze and brass. It is also used in rubber, chemical, paint, electrodes, dry batteries and agricultural industries. 

Where is zinc found?

China leads the world in the production of zinc (at 4.3 million tonnes), followed by Peru, Australia, India (at 800k tonnes) and the USA. In India, Rajasthan has over 90% of the share of zinc production in India. However, India imports zinc concentrates from many countries including the USA.

Understand zinc futures 

Zinc futures (i.e. agreements to buy a fixed quantity of zinc on a fixed date at a fixed price) are usually bought by producers of steel (or other products in which zinc is a major raw material) in order to protect against volatility in zinc prices. However, they can also be used by speculators who trade in zinc futures. Zinc futures are traded greatly on London Metals Exchange (LME), Chicago Mercantile Exchange (CME) etc. - in India, they are largely traded on the Multi-commodity Exchange of India (MCX) as well as the National Commodity and Derivatives Exchange Ltd. (NCDEX).

Recent movement in zinc prices

In the past 12 months, zinc future prices have moved steadily and greatly. Zinc future prices for April 2022 rose to a high of ₹356/kg - but since then the price has seen drastic falls in most of the months and is currently at ₹277/kg with a lot size of 5. 

China is the largest exporter of steel, hence the demand for zinc is greatly driven by the demand for zinc and overall economic conditions in China. India and Japan are distant third and second in steel production, however, the domestic industry is still a major customer indeed.

Impact on zinc stocks

Over the last year, the stock price of Hindustan Zinc Ltd. (the largest producer of zinc in India) has fallen by 9.2%, but it is looking to rally in the past few weeks. In the same period, the stock price of Vedanta Ltd. (which owns a 64.9% stake in Hindustan Zinc Ltd.) has seen a slight fall of 0.7%.

Conclusion

Now that you know about the basics of the zinc market, try finding out more about the other metals being exchanged on the commodity exchanges in India. 

[goldsilverreports]

Copper Spread Widens to Most in More Than 25 Years on Supply Squeeze

Copper Spread Widens to Most in More Than 25 Years on Supply Squeeze

The copper market is so tight that spot contracts traded at the biggest premium over futures in at least 27 years in London. (more…)