Commodities Evening Update

Wednesday | April 10, 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

Wednesday | April 10, 2013 News and Analysis

International Commodities
Performance during the day
Index Nifty Sensex Nikkei Kospi FTSE Open High

French Industrial Production increased by 0.7 percent in February. Italian Industrial Production declined by 0.8 percent in February. French Industrial Production increased by 0.7 percent in February as against a decline of 0.8 percent a month ago. Italian Industrial Production declined by 0.8 percent in February from rise of 1 percent in prior month. European markets are trading on higher note as the Chinese import data beat the forecast coupled with favorable French industrial production data. Further, Investors are keeping an eye on minutes from US Federal Reserve. Asian markets ended on positive note. US stock futures are trading in green. Spot gold prices declined by 0.25 percent today on the back of optimistic global market sentiments which kept the investors away from the safe haven. Further, investors are looking forward to the minutes from US Federal Reserve kept prices under pressure. However, weakness in DX cushioned sharp decline in the prices. In the Indian markets, appreciation in the Indian Rupee exerted downside pressure on the prices. Taking cues from fall in spot gold prices, Spot silver prices decreased by 0.68 percent today. However, optimistic global market sentiments coupled with favorable French industrial production data cushioned sharp decline in the prices. Further, weakness in DX prevented sharp downside in the prices. On the MCX platform, appreciation in the Indian rupee added downside pressure on the prices. The base metals pack traded on a mixed note on account of mixed LME inventories. However, rise in risk appetite in the global market sentiments, favorable economic data from the France along with weakness in DX prevented sharp decline in the prices. Copper, the leader of the base metals complex decreased by 0.33 percent on the back of rise in LME inventories by 0.1 percent. However, sharp decline in the prices was prevented on the back of optimistic global market sentiments coupled with weakness in DX. Further, Chinas trade data showed that Chinas copper import increased by 7.2 in the month of March also prevented sharp fall in the prices. Nymex crude oil prices declined by 0.40 percent today on the back of rise in US crude oil inventories from API coupled with expectations of increase in the inventories from EIA. Further, decline in Chinas crude imports will also exert downside pressure on the crude oil prices. However, sharp fall in the prices was prevented on the back of optimistic global market sentiments coupled with weakness in DX. The US Energy Department (EIA) is scheduled to release its weekly inventories report today at 8:00pm IST and US crude oil inventories is expected to rise by 1.4 million barrels for the week ending on 5th April 2013.

as at 4.30 pm 10 April 13
Low Last % Chg from Prev day

5536.25 18355.14 13177.31 1933.73 15466.71

5569.25 18461.44 13325.15 1939.19 15702.71

5477.20 18173.31 13177.31 1923.43 15460.27

5558.70 18414.45 13288.13 1935.58 15460.27

1.16 1.03 0.73 0.77 1.69

Source: Reuters

as at 4.30 pm 10 April 13
Currency Dollar Index Euro/$ Spot INR/$ Spot Open High Low Current % Chg from Prev day

82.49 1.308 54.58

82.53 1.3121 54.58

82.32 1.3071 54.39

82.455 1.3097 54.53

0.05 0.12 0.11

Source: Reuters

as at 4.30 pm 10 April 13
Commodity Spot Gold Comex Gold Mar13 MCX Gold June13 Spot Silver Comex Silver May13 MCX Silver May13 Crude Oil Nymex May 13 ICE -Brent Crude Oil* MCX Crude Oil April 13 Copper LME - 3 Month MCX Copper April13 Zinc LME - 3 Month Zinc MCX - April13 Lead LME - 3 Month Lead MCX April13 Nickel LME - 3 Month Nickel MCX April13 Aluminum LME - 3 Month Aluminum MCX April13 Unit Open High Low Last % Chg from Prev day

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

1584.34 1584.40 29699.00 27.93 28.23 52180 93.96 106.19 5122 7621.50 414.00 1918.00 103.60 2088 113.05 16205 883.00 1917.50 103.30

1588.30 1586.00 29724.0 28.01 27.935 52371 94.15 106.47 5132 7621.50 414.30 1932.00 104.40 2112 114.50 16345 890.90 1926.00 103.80

1579.34 1580.00 29557.0 27.70 27.24 51860 93.76 105.73 5113 7572.50 412.70 1915.00 103.30 2085 113.00 16200 883.00 1914.00 103.10

1580.70 1581.10 29647.00 27.74 27.866 52163 93.82 105.85 5133 7604.75 414.50 1923.75 103.70 2106 113.35 16277 884.00 1916.00 103.35

-0.25 -0.32 -0.15 -0.68 2.75 -0.46 -0.40 -0.36 -0.25 -0.33 -0.07 0.01 0.29 0.75 0.84 0.26 0.38 -0.13 0.10

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

Wednesday | April 10, 2013

International Commodities
Outlook In the evening session, we expect precious metals to trade on the negative note on the back of optimistic global market sentiments which may keep the investors away from safe haven. Further, market participants will keep an eye on minutes from US federal reserve to get the hint on the future monetary policy plans. However, weakness in DX may prevent sharp downside in the prices. Base metals are expected to trade on the positive note on the back of optimistic global market sentiments coupled with weakness in DX. Further, favorable French industrial production data may support an upside in prices. Rise in Chinas copper import by 7.2 in the month of March will support copper prices to trade in green. Crude oil prices are expected to trade on the negative note on the back of rise in Crude oil inventories from API coupled with expectations of increase in the inventories from EIA. However, weakness in DX may cushion sharp fall in the prices.

Technical Outook for evening session 10 April 13 ( CMP as of 5.00 pm)

Commodity Gold June'13 Spot Gold Silver May13 Spot Silver Brent Crude April13 Crude Oil April13 Nymex Crude Oil May13 Natural Gas April13 LME Copper Copper April13 Zinc April13 Lead April13 Aluminum April13 Nickel April13 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 29475 1572 51416 27.35 5706 5043 92.45 217 7520 409.8 102.3 112.5 102.6 877 Support 1 29566 1579 51845 27.68 5740 5103 93.55 219.5 7566 412.6 103.3 113 103.1 883 CMP 29606 1581.8 51940 27.75 5775 5119 93.83 221.9 7606 414.1 104 114.3 103.55 888.7 Resistance1 29748 1593 52573 28.24 5811 5163 94.65 223.1 7655 417.3 104.35 114.65 103.85 893 Resistance 2 29865 1602 53041 28.6 5845 5204 95.4 226.8 7720 420.1 105.2 115.4 104.4 901

Important Events for Today

Indicator Trade Balance New Loans French Industrial Production m/m Crude Oil Inventories 10-y Bond Auction FOMC Meeting Minutes Federal Budget Balance Country China China Europe US US US US Time (IST) Tentative 10th -13th 12:15pm 8:00pm 10:30pm 11:30pm 11:30pm Actual -0.9B 0.7% Forecast 15.2B 890B 0.6% 1.6M -110.3B Previous 15.3B 620B -1.2% 2.7M 2.03/3.2 -203.5B Impact High Medium Medium Medium Medium High Medium