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Commodities I Metals & EnergyApri l 23, 2013

Sr.Analyst:[email protected] I02230687969

501,HeritagePlaza,Opp.IndianOilNagar,J.P.Road,Andheri(W),Mumbai 400053.

Precious metals

High Low Close %Chg OI

MCX

Gold(Jun) (`/10 gm) 26,542 26,184 26,363 1.2 13,847

Silver(May) (`/kg) 44,070 43,427 43,687 0.6 17,263

Gold Mini (`/10 gm) 26,500 25,990 26,357 1.5 18,849

Silver Mini (`/kg) 44,080 43,411 43,688 0.6 23,696COMEX (US$/oz)

Gold(Jun) 1,438.8 1,403.5 1,421.2 1.0 254,602

Silver(May) 23.65 23.07 23.32 0.4 44,114

Base metals


MCX (`/kg)

Alum.(Apr) 101.5 100.1 101.4 0.3 6,673

Copper(Apr) 375.8 368.4 375.0 (0.3) 22,620

Lead(Apr) 109.8 107.9 108.1 (0.9) 5,355

Nickel(Apr) 830.7 815.1 827.2 0.7 16,546

Zinc(Apr) 100.9 99.6 100.3 (0.1) 6,243

LME(3mths) (US$/ton)Aluminum 1,895 1,869 1,893 0.6 --

Copper 7,002 6,815 6,926 (0.6) --

Lead 2,045 2,005 2,006 (0.6) --

Nickel 15,368 15,092 15,301 0.8 --

Zinc 1,893 1,861 1,880 0.1 --

Energy


MCX

Cr. oil(May) (`/bbl) 4,853 4,775 4,834 1.2 14,139

Nat.gas(Apr) (`/mmbtu) 235.4 230.7 231.0 (2.1) 42,837

NCDEX

Cr. oil (`

/bbl) 4,849 4,792 4,827 1.1 24NYMEX

Cr. oil(Jun) (US$/bbl) 89.5 87.7 89.2 1.0 331,410Nat.gas(May)(US$/mmbtu) 4.39 4.25 4.27 (2.8) 80,391

Currency

Close Prev clos e %Chg

Rs`/US$ 54.14 53.90 0.4

US$/EUR 1.3061 1.3048 0.1

US$/GBP 1.5285 1.5227 0.4

JPY/US$ 99.30 99.53 (0.2)

LME Inventory levels

Base Metals Close Prev clos e %Chg

Aluminum 5,176,850 5,186,075 (0.2)

Copper 613,075 614,350 (0.2)

Lead 259,850 259,850 0.0

Nickel 173,976 172,296 1.0

Tin 14,485 14,545 (0.4)

Zinc 1,104,775 1,110,650 (0.5)

Ratios

Close Close Ratio

Gold v/s Oil 1,421.2 89.2 15.9

Gold v/s Silver 1,421.2 23.32 60.9

Market pulse

Gold futures closed in positive for the thirdstraight session, to closed above $1,400 perounce, buoyed by physical demand for the metalfollowing data which showing that big tradershave reduced their bets for a fall in prices.

Gold holdings of SPDR gold trust, the largestETF backed by the precious metal, declined to1,104.71 tons, as on April 22.

Silver holdings of ishares silver trust, the largestETF backed by the metal, declined to 10,451.01tons, as on April 15.

The ICE dollar index, a measure of the dollaragainst a basket of six other major currencies,fell slightly to 82.722 from 82.731 on Friday.

The Japanese yen hovered near the key level of100 yen per dollar on Monday, after the G20accepted Japan's bold stimulus policies, while

weak economic data out of the United Statespressured global equities markets.

Copper prices declined for the second straightsession, as lower imports by China and anunexpected drop in US home sales fueledconcern that demand is weakening in two of thebiggest users of the metal.

Imports of refined copper by China, the biggestuser, rose in March from the lowest level in 19-months while exports expanded for the seventhstraight month. Inbound shipments stood at218,823 tons, 1.8% higher than 214,949 tonsarrivals in February.

Refined-copper imports in the first quarter fell36% from a year ago to 676,943 tons, whileexports surged to 125,423 tons, more than fourtimes from a year ago. Copper-concentrateimports by China climbed to 777,838 tons from681,148 tons a month earlier, as per customsdata.

Nickel prices have come under pressure frompoor stainless steel demand, which has pushedLME inventories to record highs, and toppledprices to their lowest level in almost 4-years at$15,092 per ton earlier in the session.

Daily average primary aluminum output roseslightly to 68,500 tons in March, against arevised 68,400 tons in February, as per datafrom the International Aluminum Institute.

Crude oil futures recovered from early losses toclose higher, with Brent crude back above $100per barrel for the first time in a week, as buyersreturned after last week's deep sell-off.

Natural gas futures fell more than 3%, postingthe biggest price drop since mid-February, asrevised forecasts called for above-normaltemperatures in the central US.

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501,HeritagePlaza,Opp.IndianOilNagar,J.P.Road,Andheri(W),Mumbai 400053.

Economic data schedule

DateCountry /Currency Event IST Actual Cons. Previous

22-Apr USD Chicago Fed Nat Activity Index 18:00 -0.23 0.35 0.76

EUR EZ Consumer Confidence 19:30 -22.3 -24 -23.5

USD Existing Home Sales (m-o-m) 19:30 -0.6% 0.4% 0.2%

CNY HSBC Flash Manufacturing PMI 7:15 50.5 51.5 51.6

23-Apr EUR German PMI Manufacturing 13:00 49

EUR German Purchasing Manager Index Services 13:00 50.9

EUR EZ Purchasing Manager Index Manufacturing 13:30 46.8

EUR EZ Purchasing Manager Index Services 13:30 46.4

EUR EZ Purchasing Manager Index Composite 13:30 46.5

GBP Public Finances (PSNCR) (Pounds) 14:00 -1.5bn

USD Markit US PMI Preliminary 18:28

USD House Price Index (m-o-m) 18:30 0.6%

USD New Home Sales (m-o-m) 19:30 -4.6%

24-Apr NZD Reserve Bank of New Zealand Rate Decision 2:30 2.5% 2.5%

AUD Consumer Prices Index (q-o-q) 7:00 0.2%

AUD Consumer Prices Index (y-o-y) 7:00 2.2%

EUR German IFO - Business Climate 13:30 106.7

EUR German IFO - Current Assessment 13:30 109.9

EUR German IFO - Expectations 13:30 103.6

USD Durable Goods Orders (m-o-m) 18:00 5.7%

USD Durables Ex Transportation (m-o-m) 18:00 -0.5%

25-Apr GBP Gross Domestic Product (q-o-q) 14:00 -0.3%

GBP Gross Domestic Product (y-o-y) 14:00 0.2%

USD Initial Jobless Claims 18:00 346k

26-Apr JPY Nomura/JMMA Manufacturing PMI 4:45 50.4

JPY National CPI Ex Food, Energy (y-o-y) 5:00 -0.9%

JPY National CPI Ex-Fresh Food (y-o-y) 5:00 -0.3%

JPY National Consumer Price Index (y-o-y) 5:00 -0.7%

JPY Bank of Japan Rate Decision 0.1%

JPY Bank of Japan Monetary Policy Statement

JPYBOJ to Hold Policy Meeting and Release

Outlook Report 8:30

JPYBank of Japan Governor Kuroda Holds Post-Meeting Press Conference 10:00

USD Gross Domestic Product (Annualized) 18:00 0.4%

USD Personal Consumption 18:00 1.8%

USD Gross Domestic Product Price Index 18:00 1.0%

USD Core PCE (q-o-q) 18:00 1.0%

USD U. of Michigan Confidence 19:25

22-Apr USD Chicago Fed Nat Activity Index 18:00 0.44

EUR EZ Consumer Confidence 19:30 -23.5

USD Existing Home Sales (m-o-m) 19:30 0.8%

CNY HSBC Flash Manufacturing PMI 7:15 51.6

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501 Heritage Plaza Opp Indian Oil Nagar J P Road Andheri (W) Mumbai 400 053

Spreads Global Indices

Commodity Near month 2nd month Close Prev close Markets Close Prev close %Chg

Precious metals Asia

Gold (`/10 gm) 26,363 26,765 402 410 Sensex 19,169.8 19,016.5 0.8

Silver (`/kg) 43,687 44,415 728 755 Nifty 5,834.4 5,783.1 0.9

Nikkie 13,568.4 13,316.5 1.9

Base metals Hang Seng 22,044.4 22,013.6 0.1

Alum. (`/kg) 101.4 102.9 1.50 1.45 Shanghai 2,242.2 2,244.6 (0.1)

Copper (`/kg) 375.0 380.7 5.70 6.40 Straits Times 3,308.9 3,294.1 0.5

Lead (`/kg) 108.1 109.3 1.15 1.00

Nickel (`/kg) 827.2 833.6 6.40 7.40 America

Zinc (`/kg) 100.3 101.8 1.45 1.40 Dow Jones 14,567.2 14,547.5 0.1

Nasdaq 2,810.1 2,780.5 1.1

Energy

Cr. oil (`/bbl) 4,834 4,869 35 36 Europe

Nat.gas (`/mmbtu) 231.0 233.4 2.4 2.2 CAC 3,652.1 3,652.0 0.0

DAX 7,478.1 7,460.0 0.2

National-International price parity FTSE 6,280.6 6,286.6 (0.1)

MCX COMEX Close* Prev close*

INR (`) 54.14 53.898 Arbitrage

Gold 26,363 1,421.20 172.17 232.53 Metals & Oil Close Prev close

Silver 43,687 23.32 260.33 361.97 Lead - Zinc 7.80 8.70

Copper 375.0 3.131 1.30 1.48 Brent - Light sweet 618 597

Crude oil 4,834 89.2 5.43 18.42*MCX premium/ (discount)

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