Aluminium on MCX settled down -1.59% at 123.75 as supply concerns eased and demand remained weak in top metal consumers such as China. LME stocks are falling at a fast pace and physical premiums are rising, although as ever with aluminium appearances can be slightly deceptive. The deficit in the global aluminium market to widen further in CY2017 as a result of up to almost 3 million metric tonne (MMT) of production cutbacks in China, post the imposition of a new air pollution control regime in Beijing. China’s inventories of aluminum ingot registered the first decline after the 2017 Chinese New Year holiday. Last week, total aluminum inventories in the five major trading markets fell 4,000 tonnes, according to data.

Nickel on MCX settled down -0.73% at 652 traded in the range while LME Nickel price ended unchanged at $10,180, balanced by potentially bullish and bearish news. A suspended Philippine nickel miner has asked the president to allow it to ship ore stockpiles after some cargoes were seized. Cyclonic winds and heavy rain buffeted New Caledonia, prompting residents of the French South Pacific territory to seek shelter and halt mining of nickel, its most important export. China has been the target of anti-dumping lawsuits, and this is expected to be a hot topic in the meeting of the two world leaders.

Zinc on MCX settled down -2.06% at 168.40 dropped tracking weakness from LME Zinc which hit a three-month low on Monday as supply concerns eased and demand remained weak in top metal consumers such as China. LME Zinc prices touched a peak of $2,980.50 a tonne in mid-February on worries that major mine closures last year would lead to severe shortages. London Metal Exchange three-month zinc slid 2.7 percent to close at $2,618 a tonne, the weakest since Jan. 6. Also pressuring the market was weakness in Chinese steel prices and news that two flood-hit mines in Peru were ready to restart. Chinese smelters may prove less resilient in the coming months after they announced that 540,000 tpy of capacity would be put on maintenance for unspecified period.

Copper on MCX settled down -0.93% at 372.55 as rising geopolitical tensions blunted appetite for risk and lifted the dollar, but prices were underpinned by tightening supply. LME copper dropped 1.5 percent to end at $5,747 a tonne, adding to small losses in the previous session, having broken support at its 100-day moving average at $5,800 a tonne. Prices have faltered since shipments resumed from BHP Billiton's Escondida mine in Chile and since Freeport McMoRan Inc said it was awaiting final details on a temporary export permit in Indonesia, ending lengthy disruptions. The supply disruptions that we have seen were short-term dynamics and did not create real tightness in the market.

Naturalgas on MCX settled down -0.29% at 209.40 fell in yesterday’s session continuing a small retreat from 2 1/2-month highs on mild weather may limit demand and the market’s ability to keep rallying. Natural gas prices appear to have found solid resistance at the 215.20 level, while according to natgasweather.com, temperatures vs normal averaged over the next 7-days are expected to be warmer than normal over a majority of the US besides the West Coast/NW. This will result in limited demand for heating over the northern US, while only minor demand for cooling over the relatively warm southern US. A rather bearish map in terms of temperatures vs normal even as numerous weather systems traverse the country with rain and snow. They just aren’t very cold besides along the West Coast.

Crudeoil on MCX settled up 1.94% at 3424 climbed higher reaching it best closing level in over a month amid concerns about geopolitical tensions, the price of crude oil showed a notable upward move during trading on Monday. Support also seen after the update that Libya's Sharara oilfield was shut after a group blocked a pipeline linking it to an oil terminal, a Libyan oil source said. The field had only just returned to production, after a week-long stoppage ending in early April. The outage added to a rally that started late last week after the United States fired missiles at a Syrian government air base. While Syria produces only small volumes of oil, the Middle East is home to more than a quarter of the world's oil output.

Silver on MCX settled down -0.03% at 41366 tracking weakness from Comex Silver which dropped to settled at $17.88 a troy ounce extending last week’s slide as a stronger dollar weighed on precious metals. The US dollar index rose to more than three-week highs against a basket of other major currencies. Renewed dollar support late on Friday undermined bullion and defensive support for precious metals was curtailed by relief over the US trade stance during President Trump’s meeting with Chinese President Xi. Silver held steady while support can be seen as growing geopolitical tensions continued to drive safe-haven demand. Top aides to U.S. President Donald Trump differed on Sunday on where U.S. policy on Syria was headed after last week's attack on a Syrian air base, while U.S.

Gold on MCX settled up 0.19% at 28739 prices recovered from the day's low while prices dropped in the morning session as the US dollar continued to remain supported by Federal Reserve policy tightening expectations. Recovery in the prices seen in late session with markets keeping a close eye on geopolitical risks and noting comments from the Fed chief that suggested the central bank is on track with plans to hike rates as forecast. The Federal Reserve's plans to raise U.S. interest rates gradually are aimed at sustaining full employment and near-2-percent inflation without letting the economy overheat, Fed Chair Janet Yellen said on Monday. Also Yellen repeated earlier comments that the economy is expected to continue to grow at a moderate pace.

Cotton on MCX settled down -1.13% at 20960 on profit booking after prices gained on reports of higher local consumption and export demand amid lower output in southern Indian region. Domestic consumption of the fibre is expected to climb to 29.5 million bales compared to 29 million bales in the previous year, Cotton Association of India (CAI) said. China is expected to increase import of premium quality fibre from India for blending as quality of auctioned cotton is poor. China is expected to increase import of premium quality fibre from India for blending as quality of auctioned cotton is poor.

Rmseed on NCDEX settled up 0.73% at 3982 on speculation of crop damages in domestic market. India is expected to produce around 6.5-7 million tonnes (mt) of rape mustard seeds in 2016-17 as compared to 5.8 mt produced in 2015-16 due to higher acreage and improving productivity. The carry-forward stock from the previous season was around 0.15 mt. The Ministry of Agriculture expects 8.5 mt of mustard seeds to be produced in the current rabi season against 6.8 mt a year ago, as per its 4th advanced estimates. Higher price levels seen before sowing, favourable weather and a hike of over 10.4 per cent in MSP to Rs. 3,700/Q (including Rs. 100 bonus) explain the increase in acreage by over 9 per cent to 7.05 million hectares.

Turmeric prices ended with gains on rising exports demand at the spot market. Turmeric output is seen higher at 7 million bags thanks to higher sowing and favorable weather conditions. Prevailing high prices encouraged farmers to plant more turmeric this year. Expectations of increasing production in coming harvesting season and lowering export demand in recent months are putting pressure on turmeric prices at higher levels. Turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared last year. The turmeric arrivals in the country is on higher side during second half of March to 79,534 tonnes compared to 63,965 tonnes during last month same period, as per the data.

Maize on NCDEX settled up 1.83% at 1443 tracking firmness in spot demand and overseas prices. Corn plantings were reduced by 4 percent to 90 million acres, slightly below market expectations. Corn stocks as of March 1 were a record 8.616 billion bushels, topping the 8.248 billion bushels reported in March 1987. The USDA said users burned through a record 3.770 billion bushels of corn from Dec. 1 to March 1. The USDA data showed weekly U.S. corn export sales of 716,000 tonnes for shipment during the current marketing season, below estimates for 900,000 to 1.2 million tonnes. Farmers may harvest at an estimated 14.32-million tonnes of maize in 2017‚ which represents the third-biggest maize crop on record.

Jeera prices gained backed by rising domestic and export demand at the spot market. Moreover, restricted supplies in the domestic spot market due to reports of lower production estimates in Gujarat too supported the uptrend. A recent assessment by the Federation of Indian Spices Stakeholders in Udaipur, Rajasthan, has forecast India’s cumin seed production at 5.83 million bags of 40 kg each (233,280 tonnes) this year against 4.20 million bags of 40 kg each (168,320 tonnes) last year. The latest spell of rainfall last week is estimated to have spoiled 30 per cent of the standing crop. Production estimates for 2016-17 are lower due to a decline in the jeera acreage in Gujarat.

Rmseed on NCDEX settled up 0.73% at 3982 on speculation of crop damages in domestic market. India is expected to produce around 6.5-7 million tonnes (mt) of rape mustard seeds in 2016-17 as compared to 5.8 mt produced in 2015-16 due to higher acreage and improving productivity. The carry-forward stock from the previous season was around 0.15 mt. The Ministry of Agriculture expects 8.5 mt of mustard seeds to be produced in the current rabi season against 6.8 mt a year ago, as per its 4th advanced estimates. Higher price levels seen before sowing, favourable weather and a hike of over 10.4 per cent in MSP to Rs. 3,700/Q (including Rs. 100 bonus) explain the increase in acreage by over 9 per cent to 7.05 million hectares.

CPO on MCX settled up 0.43% at 519.7 on increasing demand and speculation of lower supply from top producers. Palm oil refiners in Malaysia are boosting purchases of Indonesian crude palm oil to meet festive demand as there is tight local supply. Prices of palm oil will be up on increasing supply worries after the Malaysian Metrological Department hinted on returning of el-nino. Weather outlook report released by Malaysia Meteorological Department showed increasing odds for El-Nino toward second half of this year, with a 50-55% chance of it developing from about July-Dec. Further, prices will also be up after Malaysia palm oil exports during Mar 1-31 rose by around 7% compared to a month earlier on strong demand from European Union and India & Subcontinents.

Ref.Soya oil on NCDEX settled down -0.34% at 626.55 amid robust supply in local market along with lower tariff rates. International Grains Council in its report hiked soybean output forecast for 2016-17 by 5 million tons to 341 million tons and for 2017-18 output seen at 345 million tons. Moreover, according to market participants and traders soyoil port stock at various ports of the country totalled at 121,000 ton in the week ended on March 19 as compared to 94,000 tons a week ago, which is sufficient to meet the demand. For soyoil Indian importers, prices of oil in India are Rs 577 per 10 kilogram as compared to that cost from Argentina is Rs 570.61 per 10 kilogram.

Soyabean prices gained tracking firmness in spot demand on limited supply in local mandis. Prices also seen supported supported by lower arrivals as farmers are reluctant to sell crop below Rs 2,800 per quintal in the local mandis. The supplies have been decreased drastically this week compared to previous week. As per data, arrivals of soybean during 27-31 Mar were about 24,979 tonnes Vs 80,092 tonnes during previous week. The mills have procured large volumes of soybean earlier in the season lower levels which helps in more competitive prices of meals for record exports. The market may get support at lower levels from news of Govt to allow export of edible oils including soya oil.

Menthaoil prices dropped on fresh selling after the speculation that sowing activity had been increased in key production area of UP. The weather looked good and everything seemed fine as of now as farmers are still under stress, as they have already suffered a lot because of demonetization. As cash is the primary mode of transaction in agriculture sector which contributes 15% to India’s total output. Earlier it was estimated that total area under Mentha planting will drop by 20% to 1.75 lakh ha for this season resulting into a proportionate fall in Mentha oil production this year.

Aluminium on MCX settled down -0.36% at 125.85 on profit booking after prices gained on expectations of a tighter market , but rising prices are likely to mean producers restart capacity and fill any gap between supply and demand. China early last month ordered steel and aluminium producers in 28 cities to slash output during the winter months in a bid to curb noxious smog. Focus on falling stocks of aluminium in LME approved warehouses, which at nearly 1.9 million tonnes are down nearly 20 percent since mid-January. Cancelled warrants -- metal earmarked for delivery -- at 46 percent are also a concern for those wanting to trade on the LME. LME stocks fall 14,250 tonnes to fresh low since December 2008.

Nickel on MCX settled up 2% at 652.20 dragged up by gains in the steel sector after a cyclone in Australia damaged transport routes for coking coal. Indonesian Mining Ministry official said the ministry has issued export recommendation to allow Antam to export 2.7 million tonnes of nickel ore. There was news that 4 Indonesian nickel ore mining firms are applying for ore export quotas, and Antam got the initial clearance for Indonesian nickel ore exports. But, the export quota of 2.70 million WMT is much below its application amount of 6 million WMT, raising market doubts over 2017 nickel ore shipments from Indonesia, world’s number one nickel ore supplier before its 2014 export ore ban. The U.S.