The Economic Times daily newspaper is available online now.

    Mentha oil, zinc futures gain as demand picks up

    Synopsis

    At the MCX, mentha oil for delivery in October rose by Rs 2.30, or 0.27 per cent to Rs 868.70 per kg in a business turnover of 125 lots.

    PTI

    Commodity Summary

    MCX
    NEW DELHI: Amid pick up in demand from consuming industries in the spot market against restricted supplies from producing belts, mentha oil prices edged up by 0.27 per cent to Rs 868.70 per kg in futures trade as participants created fresh positions.

    At the Multi Commodity Exchange, mentha oil for delivery in October rose by Rs 2.30, or 0.27 per cent to Rs 868.70 per kg in a business turnover of 125 lots.

    On similar lines, the oil for delivery in November edged up by Rs 1.60, or 0.18 per cent to Rs 876.70 per kg in 51 lots.

    Analysts said fresh positions built-up by traders on the back of pick-up in demand from consuming industries in the spot markets against tight stocks position on restricted supplies from Chandausi led to the rise in mentha oil prices in futures trade.

    Wheat
    Wheat prices eased by 0.45 per cent to Rs 1,751 per quintal in futures trading today as traders reduced their positions, driven by a fallin demand in the spot market against adequate stocks position.

    At the National Commodity and Derivatives Exchange, wheat for delivery in November fell Rs 8, or 0.45 per cent, to Rs 1,751 per quintal, with an open interest of 6,130 lots.

    However, wheat for delivery in October held steady at Rs 1,748 per quintal in 3,930 lots.

    Analysts said reducing of positions by participants due to easing demand from flour mills in the spot market against ample stocks position kept pressure on wheat prices at futures trade.

    Refined soya oil
    Refined soya oil prices drifted lower by 0.46 per cent to Rs 650 per 10 kg in futures market today as participants reduced their exposure, triggered by ample stocks at spot market against muted demand.

    At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October fell by Rs 3, or 0.46 per cent, to Rs 650 per 10 kg, with an open interest of 21,780 lots.

    Likewise, the oil for delivery in November weakened by Rs 2.75, or 0.42 per cent, to Rs 654.50 per 10 kg in 58,040 lots.

    Marketmen said trimming of positions by traders, triggered by adequate stocks position on higher supplies from producing regions in the physical market against subdued demand, mainly led to decline in refined soya oil prices at futures trade.

    Zinc
    Zinc prices inched up by 0.61 per cent to Rs 156.65 per kg in futures trade today as speculators built up fresh positions amid a firm trend at spot market on pick up in demand from consuming industries.

    At the Multi Commodity Exchange, zinc for delivery in November traded higher by 95 paise, or 0.61 per cent, to Rs 156.65 per kg, in a business turnover of 76 lots.

    Likewise, the metal for delivery in current month edged up by 80 paise, or 0.52 per cent, to Rs 155.90 per kg in 1,407 lots.

    Market analysts attributed the rise in zinc futures to fresh positions created by traders due to upsurge in demand from consuming industries at domestic spot markets.

    Aluminium
    Aluminium prices edged up by 0.36 per cent to Rs 112.45 per kg in futures trading today as speculators built up fresh positions afterpick-up in demand from consuming industries in the spot market.

    At the Multi Commodity Exchange, aluminium for delivery in November was trading higher by 40 paise, or 0.36 per cent to Rs 112.45 per kg in a business turnover of 14 lots.

    Similarly, the metal for delivery in October also edged up by 35 paise, or 0.31 per cent to Rs 111.70 per kg in 306 lots.

    Analysts said fresh positions created by participants, driven by upsurge in demand from consuming industries in the spot market, mainly attributed the rise in aluminium prices at futures trade.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in