Natural Gas Rose On Forecasts For More Heat And Cooling Demand Next Week

Natural gas trading range for the day is 146.7-157.5.

Natural gas rose on forecasts for more heat and cooling demand next week than previously expected despite an increase in output to a fresh record high.

The amount of gas in inventory has remained below the five-year average since September 2017.

U.S. dry natural gas production will rise to an all-time high of 91.03 billion cubic feet per day in 2019.

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Silver Dropped On News Reports The U.S. Plans To Ease Off On Putting New

Silver trading range for the day is 40706-45790.

Silver dropped on news reports the U.S. plans to ease off on putting new, additional tariffs on Chinese imports.

U.S. trade officials say some of the new tariffs won't go into effect until December, adding that the two sides will resume trade negotiations in a couple weeks.

Goldman Sachs cut its U.S. fourth-quarter growth forecast by 20 basis points to 1.8% and said a U.S.-China trade deal was unlikely before the 2020 U.S. presidential election.

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Gold Dropped After The United States Said It Would Delay Tariffs

Gold trading range for the day is 36606-39250.

Gold dropped after the United States said it would delay tariffs on some Chinese products and on news that both sides agreed to continue trade talks.

USTR said the Trump administration will delay 10% tariffs on certain Chinese products, including laptops and cell phones, that had been scheduled to start next month.

The fears of a possible return to interventionist policies gripped the Argentine market after market-friendly President Macri lost by a much bigger-than-expected margin.

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Copper Prices Dropped As Pressure Seen After Factory Gate Prices In China

Copper trading range for the day is 442.8-447.8.

Copper prices dropped as pressure seen after factory gate prices in China shrank for the first time in three years in July.

Anti-mining protests in Peru have held up about $400 million in copper exports from some of the country's top mines and blocked supplies.

China's imports of unwrought copper and copper products in July climbed to the highest since February and stood at 420,000 mt.

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Natural Gas Extended Gains Following The Release Of A Report Showing

Natural gas trading range for the day is 146.1-154.7.

Natural gas extended gains following the release of a report showing a smaller-thanexpected storage build last week.

The U.S. Energy Information Administration said utilities added 55 billion cubic feet (bcf) of gas into storage during the week ended Aug. 2.

U.S. dry natural gas production will rise to an all-time high of 91.03 billion cubic feet per day (bcfd) in 2019, breaking last year's record of 83.39 bcfd.

EIA also projected U.S. gas consumption would rise to 84.65 bcfd in 2019, beating the record-high of 82.07 bcfd a year ago.

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Silver Prices Fell As Global Stock Markets Recovered On A Stronger

Silver trading range for the day is 42232-44184.

Silver prices fell as global stock markets recovered on a stronger-than-expected Chinese yuan daily fixing level.

Fed’s Evans expressed that the high risks to the US economy may require a lower rate of interest than expected.

Despite the losses, the metal received support this week amid escalating trade war between the U.S. and China.

U.S. President Donald Trump threatened to impose from Sept. 1 a 10% tariff on hitherto untaxed Chinese imports of $300 billion last week.

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Gold Rallied As The Trade War Between China And The United States

Gold trading range for the day is 37231-38981.

Gold rallied as the trade war between China and the United States showed no signs of abating, spurring investors to seek refuge in safe-haven assets.

Larry Kudlow said the Trump administration wants to continue trade talks with China and is still planning to host a Chinese delegation for talks in September.

Federal Reserve official said it was appropriate to "wait and see" how the upcoming data was, before deciding whether rates should be cut again.

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Aluminium Trading Range For The Day Is 140.2-142

Aluminium trading range for the day is 140.2-142.

Aluminum dropped on profit booking after prices seen supported as Russia’s Rusal suspended operations at Achinsk alumina refinery.

The Chinese yuan weakened below 7 versus the greenback, an 11-year low, as the US-China trade war intensified.

China’s services sector expanded at the slowest pace in five months in July, showed. Growth in the US services sectors also decelerated in July.

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Nickel Settled Up 4.13% Amid Jumped, Bolstered By Renewed Concerns

Nickel trading range for the day is 1019.8-1091.2.

Nickel settled up 4.13% amid jumped, bolstered by renewed concerns over Indonesia’s export ban on nickel ore.

China said it would not accept “intimidation or blackmail” and pledged countermeasures.

US President Trump said he would slap an extra 10% tariff on roughly $300 billion worth of Chinese imports.

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Zinc Aug Daily Chart Has Formed “Falling channel” Pattern

Zinc Aug daily chart has formed “Falling channel” pattern. The last few sessions ended up sideways in trend along with some corrections inside the channel.

The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 187.50. 

The downside rally could be testing all the way through 186-184 level in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 194 level. 

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Natural Gas Daily Chart Has Formed “Falling channel” Pattern

Natural gas daily chart has formed “Falling channel” pattern. The last few sessions ended up in bearish trend along with some corrections inside the channel.

The market is expected to continue on bearish momentum based on the price action, once the same breaks below a key support holding at 146.

The downside rally could be testing all the way through 140 level in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could test up to 158 level.

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Copper Aug Daily Chart Has Formed “Right Angled Descending Broadening Wedge” Pattern

Copper Aug daily chart has formed “Right angled descending broadening wedge” pattern. The last few sessions been in sideways trend along with some corrections inside the channel.

The market is expected to continue on bearish momentum based on the current price action, once the same breaks below a key support holding at 431.

The downside rally could be testing all the way through 428-425 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. 

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Zinc Prices Ended With Losses As Prices Seen Under Pressure Amid Global Economic

Zinc trading range for the day is 189.9-195.5.

Zinc prices ended with losses as prices seen under pressure amid global economic slowdown and trade uncertainties.

Departing shorts also accounted for the increases as limited arrivals of seaborne, domestic materials kept inventories at low.

China imported 56,800 mt of refined zinc in June, down 4.09% from a month ago but up 56.76% from a year ago.

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Crude Oil Prices Gained After The Release Of Weekly Data That Showed A Decline In U.S.

Crude oil trading range for the day is 3976-4080.

Crude oil prices gained after the release of weekly data that showed a decline in U.S. crude stockpile.

According to the data released by U.S. EIA, crude inventories in the U.S. dropped by about 8.5 million barrels.

Crude inventories declined by 6 million barrels in the week ended July 26 to 443 million barrels, the API data showed.

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Nickel Dropped As U.S. And Chinese Officials Are Due To Meet In Shanghai

Nickel trading range for the day is 982.9-1013.9.

Nickel dropped as U.S. and Chinese officials are due to meet in Shanghai for talks on a year-long trade dispute that has weighed on global economic growth.

Headline nickel stocks in LME-approved warehouses, at about 145,000 tonnes, are the lowest since 2013.

Data showed that China’s production of NPI expanded 3.44% from May to stand at 49,500 mt in Ni content in June.

Warehouse stock for Nickel at LME was at 143988mt that is unchange mt.

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Copper Prices Dropped As Comments From ECB President Draghi

Copper trading range for the day is 443.3-453.3.

Copper prices dropped as comments from ECB President Draghi were less dovish than hoped after the bank held rates steady at its latest meeting.

Freeport Indonesia proposes raising production of copper concentrate by 200,000-300,000 tonnes in 2019

The second round of nationwide environmental probes have progressed smoothly and will enter a crucial inspection stage as eight Beijing-led teams have finished stationing.

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Natural Gained As Forecasts For Hotter Weather Next Week

Natural gas trading range for the day is 157.2-162.

Natural gained as forecasts for hotter weather next week that would boost cooling demand lifted prices from two-week lows hit last week.

Meteorologists predict the weather will remain near normal this week before turning warmer next week – just not as hot as previously forecast.

Since Tropical Storm Barry hit the central Louisiana coast on July 13, energy firms have been returning Gulf of Mexico wells and platforms to service.

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Crude Palm Oil Ended With Gains Tracking Good Physical Demand

CPO trading range for the day is 497.5-501.9.

Crude palm oil ended with gains tracking good physical demand and report of lower stock levels on port.

Import of Crude palm oil higher by 38.2% on year at 4.21 lt in June while import of RBD Palmolein up by about 44% to 2.56 lt.

Indonesia exported 2.03 million tonnes of palm and palm kernel oils in April and 2.40 million tonnes in May, the Indonesia Palm Oil Association said.

Crude palm oil prices in the spot market dropped by 1.30 rupees and settled at 492.50 rupees.

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Nickel Prices Fell On Profit Booking After Prices Gained Amid An Indonesian

Nickel trading range for the day is 965.2-1066.

Nickel prices fell on profit booking after prices gained amid an Indonesian mining ministry official reiterating that a ban on the export of raw ore exports.

Headline stocks in LME-registered warehouses, at 147,942 tonnes, have slid from more than 450,000 tonnes in 2016.

Cash nickel is still trading at a discount to the three-month contract on the LME, however, suggesting that while the market has tightened, metal is still available.

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Copper Prices Took A Break From A Strong Rally After Positive Industrial Output

Copper trading range for the day is 439.6-451.

Copper prices took a break from a strong rally after positive industrial output and investment data from top consumer China.

Better-than-expected industrial output and fixed asset investment data from China sent prices of most base metals higher.

China imported 1.47 million mt of copper concentrate in June, down from 1.84 million mt in May, showed data from China Customs.

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