Commodities Evening Update

Monday | March 11, 2013

International Commodities

Content
Days overview Market Highlights Outlook Important Events for Today

Research Team
Vedika Narvekar - Sr. Research Analyst vedika.narvekar@angelbroking.com (022) 2921 2000 Extn :6130 Saif Mukadam Research Analyst saif.mukadam@angelbroking.com (022) 2921 2000 Extn :6136 Anish Vyas - Research Analyst anish.vyas@angelbroking.com (022) 2921 2000 Extn :6104

Angel Commodities Broking Pvt. Ltd. Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000 MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302

Disclaimer: The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness and correctness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from Angel Commodities Broking (P) Ltd. Your feedback is appreciated on commodities@angelbroking.com

Commodities Evening Update

Monday | March 11, 2013 News and Analysis

International Commodities
Performance during the day
Index Nifty Open High

German Trade Balance was at a surplus of 15.7 billion Euros in Jan. Indias Trade deficit was at $14.92 billion in the last month. Italys bond ratings has been downgraded to BBB+ from A- by Fitch. European equities are trading lower today on the back of cut in the Italys bond ratings by Fitch ratings agency. Italys bond ratings has been downgraded to BBB+ from A- with a negative growth outlook. German Trade Balance was at a surplus of 15.7 billion Euros in January as against a previous surplus of 16.9 billion Euros a month ago. French Industrial Production declined by 1.2 percent in January from rise of 0.9 percent in prior month. Indias Trade deficit was at $14.92 billion in February as against a previous deficit of $17.70 billion in January. Imports were seen at $41.18billion in last month from earlier rise of $42.50 billion in January. Exports rose by $26.26 billion in February as compared to prior increase of $24.88 billion a month ago. Spot gold prices traded on a flat note on the back of rise in risk aversion in the global market sentiments. Additionally, strength in the US Dollar Index (DX) also added downside pressure on the gold prices. The yellow metal touched an intra-day low of $1575.04/oz and hovered around $1577.84/oz today till 4:30pm IST. In the Indian markets, depreciation in the Rupee supported an upside in the prices. Taking cues from fall in gold prices along with downside in the base metals group, Spot silver prices declined by 0.3 percent today. Strength in the DX also exerted downside pressure on the prices. The white emtal touched an intra-day low of $28.80/oz and was trading at $28.87/oz till 4:30pm IST today. On the MCX, Silver May contract fell by 0.3 percent but depreciation in the Rupee cushioned sharp fall in the prices. The base metals complex trade lower on account of weak global market sentiments coupled with strength in the DX. Addiitonally, rise in the LME inventories also exerted downside pressure on the prices. Depreciation in the Indian Rupee cushioned sharp fall in the prices on the MCX. Copper, the leader of the base metals pack declined by 0.9 percent as a result of rise in LME Copper inventories by 0.8 percent which stood at 513,550 tonnes. Further, weak global market sentiments coupled with strength in the DX also acted as a negative factor for the prices. Nymex crude oil prices declined by 0.3 percent today taking cues from rise in the crude oil production in the Saudi Arabia coupled with strength in the DX. Additionally, slow industrial production in China along with cut in the Italys bond ratings led to expectations of fall in demand for the fuel.

as at 4.30 pm 11 March 13
Low Last % Chg from Prev day

5946.10 19679.88 12363.09 2000.57 16039.62

5971.20 19754.66 12403.95 2006.30 16146.81

5930.35 19602.71 12300.83 1982.38 16039.00

5942.35 19646.21 12349.05 2003.35 16039.00

-0.06 -0.19 0.53 -0.13 -0.96

Source: Reuters

Sensex Nikkei Kospi FTSE

as at 4.30 pm 11 March 13
Currency Dollar Index Euro/$ Spot INR/$ Spot Open High Low Current % Chg from Prev day

82.76 1.2985 54.32

82.89 1.3024 54.521

82.655 1.2978 54.162

82.765 1.3007 54.42

0.04 0.02 0.15

Source: Reuters

as at 4.30 pm 11March 13
Commodity Spot Gold Comex Gold Mar13 MCX Gold Apr13 Spot Silver Comex Silver May13 MCX Silver May13 Crude Oil Nymex Apr 13 ICE -Brent Crude Oil* MCX Crude Oil Mar 13 Copper LME - 3 Month MCX Copper April13 Zinc LME - 3 Month Zinc MCX - Mar13 Lead LME - 3 Month Lead MCX - Mar13 Nickel LME - 3 Month Nickel MCX Mar13 Aluminum LME - 3 Month Aluminum MCX Mar13 Unit Open High Low Last % Chg from Prev day

$/oz $/oz Rs/10 gms $/oz $/oz

1577.79 1576.00 29374.00 28.93 28.23 54980 91.83 110.54 4994 7730.00 425.70 1978.00 107.15 2205 120.00 16678 909.80 1960.00 105.65

1583.00 1578.50 29450.0 29.08 28.96 55020 91.92 110.72 5014 7768.00 426.60 1981.00 107.40 2215 120.60 16689 909.90 1966.00 105.90

1575.04 1576.00 29312.0 28.80 28.86 54670 91.52 109.90 4983 7667.00 421.70 1928.00 104.60 2176 118.40 16530 901.70 1935.00 104.30

1577.84 1578.50 29355.00 28.87 28.945 54698 91.68 110.15 5001 7676.50 422.55 1933.00 104.80 2180 118.60 16601 904.20 1936.00 104.40

0.01 0.12 0.03 -0.31 0.12 -0.29 -0.29 -0.63 0.20 -0.94 -0.63 -2.36 -2.10 -1.36 -1.08 -0.71 -0.56 -1.38 -1.23

Rs/kg $/bbl

$/bbl Rs/bbl $/tonne Rs/kg $/tonne Rs/kg $/tonne

Rs/kg $/tonne Rs/kg $/tonne Rs/kg

Source: Reuters.

Commodities Evening Update

Monday | March 11, 2013

International Commodities
Outlook In the evening session, we expect precious metals, base metals and crude oil prices to trade lower on the back of rise in risk aversion in the global market sentiments coupled with strength in the DX. Additionally, cut in the Italys bond ratings by the Fitch credit ratings agency will also exert downside pressure on the prices.

Technical Outook for evening session 11 March 13 ( CMP as of 5.00 pm)

Commodity Gold April '13 Spot Gold Silver May13 Spot Silver Brent Crude Mar13 Crude Oil Mar13 Nymex Crude Oil Apr13 Natural Gas Mar13 LME Copper Copper April13 Zinc Mar13 Lead Mar13 Aluminum Mar13 Nickel Mar13 Unit Rs/10 gm $/oz Rs /kg $/oz $/bbl Rs /bbl $/bbl Rs /mmBtu $/tonne Rs /kg Rs /kg Rs /kg Rs /kg Rs /kg Support 2 29177 1565 54106 28.42 5916 4930 90.4 195.6 7630 420 104 117.6 103.8 896 Support 1 29294 1574 54600 28.8 5960 4971 91.15 196.8 7667 421.6 104.6 118.25 104.15 901 CMP 29357 1578 54690 28.85 6000 5000 91.66 198.2 7675 422.3 104.9 118.7 104.45 904.2 Resistance1 29457 1587 55340 29.37 6046 5034 92.3 199 7752 425.7 106.9 119.75 105.6 913.7 Resistance 2 29587 1597 55886 29.79 6088 5061 92.8 200.2 7788 427.6 107.9 121 106.4 916.8

Important Events for Today

Indicator Core Machinery Orders m/m French Industrial Production m/m Country Japan Europe Time (IST) 5:20am 1:15pm Actual -13.1% -1.2% Forecast -1.6% -0.1% Previous 2.8% 0.9% Impact Medium Medium