Browse Category: Ripples_Advisory

Silver Mining Major Pan America Swings To Profit As Costs Fall

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Pan American Silver Corp, the world’s second-largest primary silver producer, reversed to a profit in the fourth quarter of last year. The company also hiked its quarterly dividend and announced an increase in silver mineral reserves. Pan American reported that adjusted net earnings were $19 million, or 12 % share, in the fourth quarter, a turnaround from an adjusted loss of $12.7 million, or 8 cents, in the same period a year ago. Net income increased to $22.3 million, or 14 % share, in the October-December period, compared with a net loss of $137 million, or 88 cents, in the fourth quarter of 2015, when the company reported a large impairment charge.

 For full-year 2016, adjusted earnings were $86.6 million, or 57 cents, a reversal from a 2015 adjusted net loss of $41.3 million, or 27 cents. Full-year net income was $101.8 million, or 66 cents, in 2016, compared with a 2015 net loss of $231.6 million, or $1.49. Pan American announced that a quarterly cash dividend of $0.025 per common share, for a total payout of $3.8 million, was approved by the board of directors. This is an increase from the 2016 quarterly dividend of $0.0125 per share.

Lead futures keep head above water

 Lead futures were trading higher during morning trade in the domestic market on Thursday as investors and speculators build up fresh bets in the industrial metal amid increase in physical demand for lead, from battery-makers, in the domestic spot market. Further, an upward trend in physical demand from battery-makers in the domestic spot market, supported prices of lead at futures trade.

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At the MCX, lead futures for February 2017 contract is trading at Rs 156.70 per kg, up by 1.13 %, after opening at Rs 155.90, against a previous close of Rs 154.95. It touched the intra-day high of Rs 156.80.

Gold turns firm despite strong U.S. data, Yellen rate hike hints

Gold rose as the dollar came off its highs on Wednesday, shrugging off earlier pressure from stronger-than-forecast U.S. inflation and retail sales that added to expectations for near-term U.S. interest rate rises.

U.S. Federal Reserve Chair Janet Yellen said on Tuesday that delaying increases could leave the Fed’s policymaking committee behind the curve. On Wednesday, Philadelphia Fed President Patrick Harker repeated his view that the central bank should continue to raise interest rates this year.

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Gold is highly sensitive to rising U.S. interest rates, as these increase the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced. Spot gold was up 0.2 % at $1,231.06 an ounce by 3:14 p.m U.S. gold futures for April delivery settled up 0.6 % at $1,233.10.

COMMODITY MARKET UPDATE NEWS

Soyabean trading range for the day is 2994-3054.Soyabean prices gained on short covering tracked by higher prices in international markets.The production will be higher this year and the oil millers are purchasing soybean at lower prices.NCDEX accredited warehouses soyabean stocks gained by 2291 tonnes to 206072 tonnes.At the Indore spot market in top producer MP, soybean dropped -1 Rupees to 3033 Rupees per 100 kgs.

 

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Silver trading range for the day is 42139-42945.Silver gained benefited from a retreat in the dollar, despite strong U.S. economic data which confirmed that the growth story in the U.S. economy remains on track.U.S. retail sales rose more than expected in January and consumer prices recorded their biggest gain in nearly four years U.S. Federal Reserve Chair Janet Yellen said that delaying increases could leave the Feds policymaking committee behind the curve.

Philippines Nickel Mine Shut Down Beneficial for Prices

The February’s nickel price is better than January and benefit from the Philippine’s government shut down nickel mines. The LME nickel price settled at US$10,675/ton yesterday (February 14th, 2017).
The average price is at US$10,358/ton which is US$360/ton higher than January. Stainless steel mills might have chance to unchanged price or increase price by US$30/ton for March. However, it still need time to obverse the demand is strong enough in the market. And it is very sure that there is difficulty to lower the price as raw material remained stable recently.

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Crude oil plunges on strong US crude inventories build

Crude oil futures were trading lower during afternoon trade in the domestic market on Wednesday as investors and speculators exited their positions in the energy commodity after rising US crude oil inventories.

According to American Petroleum Institute (API) inventory report published on Tuesday afternoon, US crude oil inventories increased yet again by 9.94 million barrels. At the MCX, crude oil futures for February 2017 contract is trading at Rs 3533 per barrel, down by 0.90 per cent, after opening at Rs 3565, against a previous close of Rs 3565. It touched the intra-day low of Rs 3530.

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`मेक इन स्टील`सम्मेलन 17 फरवरी से

भारतीय स्टील जगत 17 फरवरी से यहां ‘मेक इन स्टील’ सम्मेलन का आयोजन कर रहा है, जिसमें इस सेक्टर के लिए चरणबद्ध तरीके से स्थायी विकास के उपायों पर चर्चा की जाएगी। ये उपाय घरेलू स्तर पर स्टील की खपत में तेजी लाने और चीन जैसे देशों से बढ़ते आयात पर अंकुश लगाने से संबंधित होंगे। ‘मेक इन स्टील’ सम्मेलन में स्टील निर्माता वैश्विक स्तर पर स्टील की बहुतायत, कीमतों में उतार-चढ़ाव, मुनाफे में कमी, कुकिंग कोल तथा निकेल के आयात की ऊंची कीमत और चीन, जापान एवं दक्षिण कोरिया जैसे देशों से सस्ते उत्पादों का बड़े पैमाने पर आयात के कारण प्रभावित हो रहे स्टील उद्योग और इससे जुड़ी चिंताओं पर भी विचार करेंगे।

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केंद्रीय इस्पात मंत्रालय, जेएसडब्ल्यू स्टील, एस्सार स्टील, सेल और एनडीएमसी के सहयोग से आयोजित किए जा रहे इस सम्मेलन में चीन, जापान, ईरान तथा दक्षिण कोरिया सहित 15 से अधिक देशों के 300 से अधिक प्रतिनिधि हिस्सा लेंगे।

भारत इस वर्ष जापान को पछाड़ते हुए चीन के बाद कच्चे इस्पात का दूसरा सबसे बड़ा उत्पादक देश बनने की उम्मीद कर रहा है। देश में तैयार इस्पात की प्रति व्यक्ति खपत सिर्फ 62 किलोग्राम है जबकि दक्षिण कोरिया में प्रति व्यक्ति खपत 1113 किलो और चीन में प्रति व्यक्ति 488 किलोग्राम खपत है। वैश्विक अनुपात देखा जाए तो प्रति व्यक्ति खपत 208 किलोग्राम है।

SEA of India Estimates 19% Decline In January Vegetable Oil Imports

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As per the latest data of Import of vegetable oils during January 2017 is reported at 1,024,859 tons compared to 1,258,054 tons in January 2016, consisting of 1,008,085 tons of edible oils and 16,774 tons of non-edible oils i.e. down by 19%. The overall import of vegetable oils during first three months of current oil year 2016-17, Nov.’16 to Jan.’17 is reported at 3,410,008 tons compared to 4,016,391 tons i.e. down by 15%.

 The stock of edible oils as on 1st February, 2017 at various ports is estimated at 642,000 tons (CPO 220,000 tons, RBD Palmolein 150,000 tons, Degummed Soybean Oil 180,000 tons, Crude Sunflower Oil 85,000 tons and 7,000 tons of Rapeseed (Canola) Oil) and about 1,088,000 tons in pipelines. Total stock at ports and in pipelines decreased to 1,730,000 tons from 1,845,000 tons in Jan., 2017. The overall stock as on 1st Feb., 2017 has decreased by 115,000 tons compared to 1st Jan., 2017,. India’s monthly requirement is about 16.50 lakh tons and operate at 30 days stock against which currently holding stock over 17.30 lakh tons equal to 32 days requirements.

CPO trading range for the day is 557.9-576.1

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Crude palm Oil on MCX settled down by -1.02% at 565.2 tracking global palm oil prices amid weak demand. Prices of the palm oil were down on subdued demand following weaker Malaysian palm oil export data.

CPO output dropped by 3% to 31.5 million tons in 2016 on yearly basis, Gapki said. China’s imports plunged 24 % to 4.48 million metric tons in 2016, the lowest since 2005, as benchmark futures surged 25 percent after El Nino squeezed supplies in Indonesia and Malaysia. With production set to recover in the two biggest producers in the second half, prices should fall to levels that attracts Chinese buying. The El Nino between 2015 and early 2016 reduced global palm oil output by 6.8 million tons last year.

 

Technically market is under long liquidation as market has witnessed drop in open interest by -0.55% to settled at 3099 while prices down -5.8 rupees, now CPO is getting support at 561.6 and below same could see a test of 557.9 level, And resistance is now likely to be seen at 570.7, a move above could see prices testing 576.1.