Trend continues to be bullish for crude oil and the futures price is likely to move north further.The rally in futures on the Multi Commodity Exchange (MCX) contract began in November last year. Looki
Since the copper continuous futures contract on the Multi Commodity Exchange of India (MCX) got support at ₹335/kg in March 2020, it has been on a long-term uptrend, forming higher peaks and higher tr
Mumbai: The recently-concluded silver futures contract on stock exchange
MCX has witnessed a delivery intention of 80.85 tonnes worth a whopping Rs 545 crore in what could be a record for a single day. It is not clear whether the seller is one or many but the delivery would happen amid tepid physical demand for silver, said market analysts.
While an MCX official was not immediately available for comment, the exchange data show delivery intention of 80,850 kilos valued at Rs 67,422 a kilo on March 1 in Ahmedabad. The contract expired on March 5. Actual delivery details will be released by the exchange clearing corporation in due course. Data through March 1-4 show intention to deliver Rs 725 crore worth of the metal in the March contract.
Cotton stock at MCX warehouse hit a new high on export demand
March 08, 2021
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Cotton stock in MCX accredited warehouse has touched a new high of 2,16,600 bales as on March 5 against previous high of 2,14,700 bales logged on March 30, 2019. The rising stock at warehouse was on the back of increasing hedging activities as the export demand, especially from China, has hit a new high. China has a low inventory.
Cotton prices have gained over 10 per cent so far this year following the firm trend in the global cotton trade. Cotton production globally is projected to touch a four-year low and imports by China are estimated higher. The Centre’s decision to impose a ten per cent duty on imported cotton is seen as supporting domestic price.
From December last year until the end of January 2021, copper futures traded within a price band the price did not trend and remained sluggish. The March futures contract on the Multi Commodity Exch