Daily Commodity Roundup as on Friday, March 26, 2021

 
Daily Commodity Roundup as on Friday, March 26, 2021
Daily Commodity Roundup as on Friday, March 26, 2021

Date : Friday, March 26, 2021          URL : www.systematixshares.com   Page No : 1
Daily Commodity Roundup as on Friday, March 26, 2021
1726.55                       25.10                     58.56
    INTERNATIONAL MARKET UPDATE

                                  GOLD $                SILVER $                           CRUDE $
                                               -0.02                         0.42                     -4.28

                                              1.1781                       1.37573                   109.201
                                  EURUSD                GBPUSD                             USDJPY
                                               0.11                          0.19                     0.03

                                   LME         8837      LME                2796            LME      16205
                                  COPPER       0.43      ZINC                0.58          NICKEL     0.22

                                               2265       LME               1939                      92.77
                                    LME                                                    $ INDEX
                                  ALUMINIUM    0.38      LEAD                0.10                     -0.09

                                              48440                         14325                    32420
                                  SENSEX                 NIFTY                              DJIA
                                               -1.51                        -1.54                     -0.01

                                               72.62      S&P               3889                     21522
                                  USDINR                                                   NIKKEI
                                               -0.08     INDEX              -0.55                     -0.86

Date : Friday, March 26, 2021                             URL : www.systematixshares.com              Page No : 2
Daily Commodity Roundup as on Friday, March 26, 2021
MCX Gold Apr 2021
Gold prices dropped weighed down by a stronger dollar and higher U.S. Treasury yields.

Gold yesterday settled down by -0.37% at 44695 weighed down by a
stronger dollar and higher U.S. Treasury yields. Treasury yields climbed
after Fed Chair Jerome Powell told that 2021 was "going to be a very,
very strong year in the most likely case." Sentiment in wider financial
markets remained weak as investors grew wary following a new round of
coronavirus restrictions in the euro zone. Gold's gains were kept in check
by data showing the number of Americans filing new claims for
unemployment benefits dropped to a one-year low last week, a day after
U.S. Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome
Powell expressed their confidence in the U.S. recovery. The number of
Americans filing for unemployment benefits dropped to 684 thousand in
the week ended March 20th, its lowest since the pandemic hit the labor
market in March 2020 and well below market expectations of 730
thousand, adding to signs of a gradual job recovery. China's net gold
imports via Hong Kong fell 0.2% in February from the previous month,
Hong Kong Census and Statistics Department data showed. Net gold
imports via Hong Kong to China, the world's top consumer of the metal,
stood at 4.192 tonnes in February, compared with 4.2 tonnes in January,
the data showed. Technically market is under long liquidation as market
has witnessed drop in open interest by -16.31% to settled at 5988 while
                                                                              OPEN               HIGH                 LOW                CLOSE            % CHANGE    OPEN INTEREST
prices down -165 rupees, now Gold is getting support at 44522 and below
same could see a test of 44348 levels, and resistance is now likely to be    44892              45028               44601                44695              -0.37         5988
seen at 44949, a move above could see prices testing 45202.
                                                                             RESIST 3          RESIST 2            RESIST 1           SUPPORT 1           SUPPORT 2    SUPPORT 3
                                                                             45376              45202               44949                44522             44348         44095
                                                                                        Trading Ideas :
   #      Gold trading range for the day is 44348-45202.
   #      Sentiment in wider financial markets remained weak as investors grew wary following a new round of coronavirus restrictions in the euro zone.
   #      Data showed the number of Americans filing new claims for unemployment benefits dropped to a one-year low last week
   #      China's net gold imports via Hong Kong ease 0.2% m/m in February

Date : Friday, March 26, 2021                                                           URL : www.systematixshares.com                                                   Page No : 3
Daily Commodity Roundup as on Friday, March 26, 2021
MCX Silver May 2021
Silver prices dropped as a stronger U.S. dollar overshadowed support from lower bond yields and worries that lockdowns across Europe

Silver yesterday settled down by -0.58% at 64869 as a stronger U.S.
dollar overshadowed support from lower bond yields and worries that
lockdowns across Europe would take a toll on the pace of economic
recovery. Sentiment in wider financial markets remained weak as
investors grew wary about the economic outlook following a new round of
coronavirus restrictions in the euro zone and potential U.S. tax hikes. The
number of Americans filing new claims for unemployment benefits
dropped to a one-year low last week as economic activity rebounds after
weather-related disruptions in February. But the labor market is not out
of the woods yet, with the weekly jobless claims report from the Labor
Department showing a staggering 18.953 million people were still
receiving unemployment checks in early March. It will likely take years for
a full recovery from the pandemic's scarring. U.S. factory activity picked
up in early March amid strong growth in new orders, but supply chain
disruptions because of the COVID-19 pandemic continued to exert cost
pressures for manufacturers, which could keep inflation fears in focus.
Data firm IHS Markit said on Wednesday its flash U.S. manufacturing PMI
increased to 59 in the first half of this month from a final reading 58.6 in
February, when activity took a step back after a cold snap hit large parts
of the country. Technically market is under long liquidation as market has
witnessed drop in open interest by -5.96% to settled at 10725 while             OPEN             HIGH                LOW                 CLOSE            % CHANGE    OPEN INTEREST
prices down -376 rupees, now Silver is getting support at 63788 and            65159             65198               63411              64869                -0.58       10725
below same could see a test of 62706 levels, and resistance is now likely
to be seen at 65575, a move above could see prices testing 66280.
                                                                               RESIST 3         RESIST 2           RESIST 1           SUPPORT 1           SUPPORT 2    SUPPORT 3
                                                                               67362             66280               65575              63788               62706        62001
                                                                                          Trading Ideas :
    #      Silver trading range for the day is 62706-66280.
    #      Sentiment in wider financial markets remained weak as investors grew wary about the economic outlook following a new round of coronavirus restrictions
    #      The number of Americans filing new claims for unemployment benefits dropped to a one-year low last week
    #      U.S. factory activity picked up in early March amid strong growth in new orders

Date : Friday, March 26, 2021                                                             URL : www.systematixshares.com                                                 Page No : 4
Daily Commodity Roundup as on Friday, March 26, 2021
MCX Crude oil Apr 2021
Crude oil prices dropped as fuel demand concerns re-emerged alongside fresh coronavirus pandemic lockdowns

Crude oil yesterday settled down by -4.32% at 4255 as fuel demand
concerns re-emerged alongside fresh coronavirus pandemic lockdowns,
trimming overnight gains spurred by the grounding of a giant container
ship blocking crude shipments through the Suez Canal. The market was
also helped by data showing U.S. gasoline demand improved and refinery
run rates were picking. Given the persistent demand worries and falling
prices, expectations are growing that the Organization of the Petroleum
Exporting Countries and allies, together called OPEC+, will roll over their
current supply curbs into May at a meeting scheduled for April 1. With oil
prices making steady gains earlier this year, OPEC and other producers
had hoped to ease output cuts, but industry sources say a fresh wave of
lockdowns around the world threatens to tear up those plans. The OPEC+
group of producers, which are holding back millions of barrels of daily
supply, surprised the market on March 4 by deciding to hold output
broadly steady. U.S. crude and fuel stockpiles rose last week and
refineries increased capacity use in their recovery from last month's
unusual cold that hit southern U.S. states, the Energy Information
Administration said. Crude inventories rose by 1.9 million barrels in the
week ended March 19 to 502.7 million barrels, compared with
expectations for a 272,000-barrel drop. Technically market is under long
liquidation as market has witnessed drop in open interest by -8.93% to
                                                                               OPEN                HIGH                 LOW                CLOSE             % CHANGE    OPEN INTEREST
settled at 3987 while prices down -192 rupees, now Crude oil is getting
support at 4164 and below same could see a test of 4074 levels, and            4405                4418                4201                 4255               -4.32         3987
resistance is now likely to be seen at 4381, a move above could see
prices testing 4508.                                                          RESIST 3           RESIST 2            RESIST 1            SUPPORT 1           SUPPORT 2    SUPPORT 3
                                                                               4598                4508                4381                 4164               4074          3947
                                                                                         Trading Ideas :
   #      Crude oil trading range for the day is 4074-4508.
   #      However, the market was also helped by data showing U.S. gasoline demand improved and refinery run rates were picking.
   #      Given the persistent demand worries and falling prices, expectations are growing that OPEC+, will roll over their current supply curbs into May.
   #      As Europe tightens lockdowns, OPEC+ to keep oil taps tight

Date : Friday, March 26, 2021                                                            URL : www.systematixshares.com                                                     Page No : 5
Daily Commodity Roundup as on Friday, March 26, 2021
MCX Copper Apr 2021
Copper prices dropped as the U.S. pandemic response continued to outpace Europe's, which has been hobbled by extended lockdowns and delayed vaccine rollouts.

Copper yesterday settled down by -0.98% at 662.2 as the U.S. pandemic
response continued to outpace Europe's, which has been hobbled by
extended lockdowns and delayed vaccine rollouts. LME cash copper was
at a $4.25 a tonne discount to the three-month contract, its biggest
discount since Jan. 21, as inventories in LME warehouses have jumped
64% so far this month. Yangshan copper premium fell to $64 a tonne, its
lowest since Jan. 12, indicating weakening demand for imported copper
into top consumer China. China will maintain credit support continuity and
stability for small and micro firms, the country's central bank said. The
People's Bank of China, in a statement about a meeting with 24 banks in
Beijing that took place on Monday, said it will maintain the policy stance
that housing is for living and not for speculation. The central bank also
said it will guide commercial banks to step up support for carbon
emissions reduction financing. Workers at Antofagasta's Los Pelambres
copper mine in Chile have accepted a contract offer and abandoned the
threat of a strike, the union said. The global world refined copper market
showed a 24,000 tonnes surplus in December, compared with a 93,000
tonnes deficit in November, the International Copper Study Group (ICSG)
said in its latest monthly bulletin. Technically market is under fresh
selling as market has witnessed gain in open interest by 6.51% to settled
at 2930 while prices down -6.55 rupees, now Copper is getting support at        OPEN             HIGH                 LOW       CLOSE      % CHANGE    OPEN INTEREST
657.7 and below same could see a test of 653.1 levels, and resistance is       665.70           667.10              657.85      662.20       -0.98         2930
now likely to be seen at 667, a move above could see prices testing
671.7.
                                                                              RESIST 3         RESIST 2             RESIST 1   SUPPORT 1   SUPPORT 2    SUPPORT 3
                                                                                676.3            671.7               667.0      657.7       653.1         648.4
                                                                                         Trading Ideas :
   #      Copper trading range for the day is 653.1-671.7.
   #      China cbank to maintain credit support continuity, stability for small firms
   #      LME cash copper was at a $4.25 a tonne discount to the three-month contract , its biggest discount since Jan. 21
   #      Warehouse stock for Copper at LME was at 121675mt that is down by -275mt.

Date : Friday, March 26, 2021                                                            URL : www.systematixshares.com                                   Page No : 6
Daily Commodity Roundup as on Friday, March 26, 2021
MCX Zinc Apr 2021
Zinc settled flat after the dollar index extended gains after initial claims fell more than expected to a pre-pandemic low of 684K

Zinc yesterday settled up by 0.02% at 217 after the dollar index
extended gains after initial claims fell more than expected to a pre-
pandemic low of 684K and GDP growth for Q4 was revised slightly higher
to 4.3%. Early in the session, the greenback was already edging higher
as investors weighed prospects of slower global growth against the overall
outperformance of the US economy supported by the combination of ultra-
easy monetary policy, unprecedented government spending, and a
successful vaccine rollout. However, domestic zinc smelters have cut
output more than expectations in March-April due to restrictions on
energy consumption and tight zinc concentrate supply, while downstream
demand has improved, which will weigh on zinc social inventories and
support zinc prices. The global zinc market was oversupplied by 11,700
tonnes in January after a revised surplus of 23,500 tonnes in December,
data from the International Lead and Zinc Study Group (ILZSG) showed.
For 2020, the surplus in the roughly 13.5 million tonne a year market was
536,000 tonnes, according to the ILZSG. The third round of COVID-19
outbreak in Europe aggravated the market's cautious sentiment.
Germany and the Netherlands successively announced an extension of
the blockade period. Technically market is under short covering as market
has witnessed drop in open interest by -2.46% to settled at 1743 while
                                                                              OPEN              HIGH                 LOW                CLOSE      % CHANGE    OPEN INTEREST
prices up 0.05 rupees, now Zinc is getting support at 215.7 and below
same could see a test of 214.3 levels, and resistance is now likely to be     216.8             217.7               215.3               217.0        0.02          1743
seen at 218.1, a move above could see prices testing 219.1.
                                                                             RESIST 3          RESIST 2            RESIST 1            SUPPORT 1   SUPPORT 2    SUPPORT 3
                                                                              220.5             219.1               218.1               215.7       214.3         213.3
                                                                                        Trading Ideas :
   #      Zinc trading range for the day is 214.3-219.1.
   #      Further concerns over the world's recovery from the pandemic weighed on investor sentiment.
   #      However, domestic zinc smelters have cut output more than expectations in March-April due to tight zinc concentrate supply
   #      Warehouse stock for Zinc at LME was at 271225mt that is down by -125mt.

Date : Friday, March 26, 2021                                                           URL : www.systematixshares.com                                            Page No : 7
Daily Commodity Roundup as on Friday, March 26, 2021
MCX Nickel Apr 2021
Nickel prices gained as Global nickel market surplus shrank to 8,400 tonnes in January from a revised surplus of 14,700 tonnes in the previous month

Nickel yesterday settled up by 0.65% at 1180.5 as Global nickel market
surplus shrank to 8,400 tonnes in January from a revised surplus of
14,700 tonnes in the previous month, data from the International Nickel
Study Group (INSG) showed. Last year, the roughly 2.4 million tonne a
year global market saw a surplus of 122,800 tonnes compared with a
deficit of 32,200 tonnes in 2019, according to the Lisbon-based INSG.
However upside seen limited amid concerns about a surge in COVID-19
cases across Europe and the negative impact of restrictive measures and
vaccine delays LME nickel inventories climbed to their highest since July
2018 at 261,204 tonnes. Pressure seen due to concerns over a third
COVID-19 wave in Europe, potential U.S. tax hikes and escalating
tensions between the West and China sapped risk appetite. Data showed
Germany Manufacturing PMI jumped to 66.6 in March of 2021 from 60.7
in February, well above forecasts of 60.8, flash estimates showed. The
reading pointed to a record growth in factory activity amid a record
output rise and rising sales to Asia (particularly China), Europe and the
US. Many manufacturers highlighted difficulties keeping up with demand,
which was reflected in an unprecedented rise in factory backlogs of work.
Technically market is under short covering as market has witnessed drop
in open interest by -2.52% to settled at 1778 while prices up 7.6 rupees,
                                                                              OPEN              HIGH               LOW                CLOSE            % CHANGE        OPEN INTEREST
now Nickel is getting support at 1162.6 and below same could see a test
of 1144.6 levels, and resistance is now likely to be seen at 1193.5, a       1163.8            1188.4            1157.5              1180.5               0.65             1778
move above could see prices testing 1206.4.
                                                                            RESIST 3           RESIST 2          RESIST 1          SUPPORT 1           SUPPORT 2        SUPPORT 3
                                                                             1224.4            1206.4            1193.5              1162.6              1144.6           1131.7
                                                                                       Trading Ideas :
   #      Nickel trading range for the day is 1144.6-1206.4.
   #      However upside seen limited amid concerns about a surge in COVID-19 cases across Europe and the negative impact of restrictive measures and vaccine delays
   #      LME nickel inventories climbed to their highest since July 2018 at 261,204 tonnes.
   #      Warehouse stock for Nickel at LME was at 261204mt that is down by -456mt.

Date : Friday, March 26, 2021                                                          URL : www.systematixshares.com                                                     Page No : 8
Daily Commodity Roundup as on Friday, March 26, 2021
NCDEX Jeera Apr 2021
Jeera prices gained due to constraints in supply as the end of season approaches.

Jeera yesterday settled up by 0.27% at 13235 due to constraints in
supply as the end of season approaches. Support was also seen from the
export side as exporters switched to Indian cumin seed this time.
Demand for Indian Cumin has improved from UAE and Vietnam in recent
months. Acreage under Jeera in leading producing state of Gujarat was at
4.64 lakh hectares (lh), marking a jump of around 11% compared to the
same time last year which may not allow any significant price
appreciation of cumin in coming weeks. Some support seen as a
statement from the Spices Board said the export of spices, which had
fetched ₹12,273.81 crores in the first half of the current fiscal between
April and September, had grown by 19 per cent compared to the
corresponding period last year. Cues coming from spot market of
improved demand from domestic stockiest as a recovery of demand
during the festive season on the eve of makar Sankranti and Ramjan
toward January to mid-may can be seen which also supported prices. As
India going to start it vaccination in the whole country from 16th January
onwards it is raising the expectation of trader regarding the boost in
demand of Jeera from export as well as from domestic which was dropped
in 2020 due to Covid. In Unjha, a key spot market in Gujarat, jeera edged
down by -40.6 Rupees to end at 13100 Rupees per 100 kg. Technically
market is under short covering as market has witnessed drop in open
                                                                              OPEN               HIGH                 LOW    CLOSE      % CHANGE    OPEN INTEREST
interest by -1.43% to settled at 1443 while prices up 35 rupees, now
Jeera is getting support at 13160 and below same could see a test of         14700              14870             14700      14820        -0.03         4362
13080 levels, and resistance is now likely to be seen at 13325, a move
above could see prices testing 13410.                                        RESIST 3          RESIST 2          RESIST 1   SUPPORT 1   SUPPORT 2    SUPPORT 3
                                                                             15060              14965             14890      14720       14625         14550
                                                                                        Trading Ideas :
   #      Jeera trading range for the day is 13042-13622.
   #      Support was also seen from the export side as exporters switched to Indian cumin seed this time.
   #      Demand for Indian Cumin has improved from UAE and Vietnam in recent months.
   #      In Unjha, a key spot market in Gujrat, jeera edged down by -41.2 rupees to end at 13059 rupee per 100 kg.

Date : Friday, March 26, 2021                                                           URL : www.systematixshares.com                                 Page No : 9
Daily Commodity Roundup as on Friday, March 26, 2021
NCDEX Turmeric Apr 2021
Turmeric prices gained as high domestic demand, coupled with fears of lower output, have fuelled turmeric prices.

Turmeric yesterday settled up by 4% at 8268 as high domestic demand,
coupled with fears of lower output, have fuelled turmeric prices. Prices
also remained supported amid crop quality concerns and sharp surge in
demand. Due to climatic adversities and poor quality, turmeric growers
are looking at lower yields. Area under turmeric cultivation was expected
to go up, but that did not happen, and prices are firming up on the back
of strong domestic and export demand. Turmeric consumption had surged
during the whole of 2020 as people resorted to it an immunity booster
against Covid-19. Prices also seen supported amid expectation of
decrease in Turmeric sown area in the kharif sowing season 2020 across
Nizamabad and Marathwada regions. Covid-19 raised expectations
regarding the consumption of turmeric as a body immune enhancer, but it
did not last long. Poor quality of arrivals is another reason for the drop in
demand. Therefore, many traders in Erode started buying turmeric from
the markets of Andhra Pradesh and Maharashtra as the prices were low
there. Despite 2% freight, they are saving 5% on costs. Apprehensions
are there that water logging and higher moisture due to recent rains in
October in major Turmeric growing regions of Telangana, Maharashtra,
Karnataka is likely to have adverse impact on overall productivity of
Turmeric. In Nizamabad, a major spot market in AP, the price ended at
7594.75 Rupees dropped -28.1 Rupees. Technically market is under short
covering as market has witnessed drop in open interest by -4.02% to               OPEN               HIGH      LOW            CLOSE      % CHANGE    OPEN INTEREST
settled at 7750 while prices up 318 rupees, now Turmeric is getting               7988               8268      7818            8268        4.00          7750
support at 7968 and below same could see a test of 7668 levels, and
resistance is now likely to be seen at 8418, a move above could see
prices testing 8568.                                                             RESIST 3          RESIST 2   RESIST 1       SUPPORT 1   SUPPORT 2    SUPPORT 3
                                                                                  8868               8568      8418            7968        7668          7518
                                                                                            Trading Ideas :
    #      Turmeric trading range for the day is 7668-8568.
    #      Prices also remained supported amid crop quality concerns and sharp surge in demand.
    #      Due to climatic adversities and poor quality, turmeric growers are looking at lower yields.
    #      In Nizamabad, a major spot market in AP, the price ended at 7594.75 Rupees dropped -28.1 Rupees.

Date : Friday, March 26, 2021                                                               URL : www.systematixshares.com                             Page No : 10
MCX Mentha oil Apr 2021
Mentha oil gains on low level buying after prices dropped amid weak demand from cosmetics and toiletries sector in India.

Mentha oil yesterday settled up by 0.59% at 957.4 on low level buying
after prices dropped amid weak demand from cosmetics and toiletries
sector in India. The COVID-19 outbreak has had a huge impact on the
worldwide economy, and has posed a similar influence on the aroma
chemicals market. The market has been faced with the lack of migrant
labor, supply chain disruptions, shutdown of manufacturing activities, to
name a few. Support also seen on the expectation that India’s fragrance
industry which had been slow, now slowly gaining the positive momentum
post the COVID unlock down. Headed towards a new decade, the
fragrance industry has received a much needed boost with the
acceptance of trendy dhoop sticks and dhoop cones which has seen an
increased 20% demand day by day. The global aroma chemicals market
is likely to record a steady CAGR of about 4% during the assessment
period of 2020-2030. Growing demand for aroma chemicals in the food &
beverage and fragrance industry will underpin the growth of the market.
Strict regulations in relation to artificial flavours are complimenting to the
expansion of natural aroma chemicals in the food sector. Out of India's
total mentha oil exports, nearly 55% goes to China while 16% goes to the
US and around 5% goes to Singapore. In Sambhal spot market, Mentha
oil dropped by -17.6 Rupees to end at 1072.4 Rupees per 360 kgs.
Technically market is under fresh buying as market has witnessed gain in
                                                                                   OPEN             HIGH            LOW                 CLOSE       % CHANGE    OPEN INTEREST
open interest by 18.18% to settled at 39 while prices up 5.6 rupees, now
Mentha oil is getting support at 955.4 and below same could see a test of         955.00            958.60        955.00                957.40        0.59           39
953.4 levels, and resistance is now likely to be seen at 959, a move
above could see prices testing 960.6.                                             RESIST 3         RESIST 2       RESIST 1          SUPPORT 1       SUPPORT 2    SUPPORT 3
                                                                                   962.6            960.6          959.0                955.4        953.4         951.8
                                                                                             Trading Ideas :
    #      Mentha oil trading range for the day is 953.4-960.6.
    #      In Sambhal spot market, Mentha oil dropped by -17.6 Rupees to end at 1072.4 Rupees per 360 kgs.
    #      The COVID-19 outbreak has had a huge impact on the worldwide economy, and has posed a similar influence on the aroma chemicals market.
    #      The global aroma chemicals market is likely to record a steady CAGR of about 4% during the assessment period of 2020-2030.

Date : Friday, March 26, 2021                                                                URL : www.systematixshares.com                                       Page No : 11
DAILY MARKET TRADING LEVEL
                                                                                                                                                                                                 NCDEX
                     NCDEX Chana Apr        NCDEX Cotton Apr   NCDEX Jeera Apr     NCDEX Guarseed10        NCDEX Turmeric       NCDEX Rmseed Apr                         NCDEX Soyabean
COMMODITIES                                                                                                                                      MCX CPO Mar 2021                              Ref.Soya oil
                          2021                   2021              2021                Apr 2021               Apr 2021                2021                                  Apr 2021
                                                                                                                                                                                                Apr 2021
    CLOSE                    4951               20660              14820                     3762                8268                 5744               1112.3                5800              1248.9
                             5052                21760             15060                     3831                  8868               5852                1176.2               5986                1322
 RESISTANCE                  5011                21460             14965                     3815                  8568               5813                1160.1               5903                1306
                             4981                21060             14890                     3789                  8418               5778                1136.2               5852                1277
   P. POINT                  4940               20760              14795                     3773                8118                 5739               1120.1                5769                1261
                             4910                20360             14720                     3747                  7968               5704                1096.2               5718                1232
   SUPPORT                   4869                20060             14625                     3731                  7668               5665                1080.1               5635                1216
                             4839                19660             14550                     3705                  7518               5630                1056.2               5584                1187
   Cng in OI                -0.95                7.71                  3.19                 -2.49                -4.02               -5.03                -19.61              -4.21               -6.86
    TREND             Short Covering          Fresh Selling      Fresh Selling          Long Liquidation    Short Covering        Short Covering      Long Liquidation     Short Covering     Long Liquidation

                            LME DAILY STOCK POSITION                                                                                     ECONOMICAL DATA
     0                                                                                                     TIME       ZONE                           DATA                          Forecast       Previous

                 COPPER
                  -275       ALUMINIUM          NICKEL         LEAD              ZINC
                                                                                 -125                      2:30pm         EUR            German ifo Business Climate                  93.1         92.4
                                                 -456
  -2000                                                        -1575                                       All Day        EUR                      Euro Summit                         0             0
          Commodity
               LME STOCK            Stock
          COPPER           -275    121675
  -4000                                                                                                    Day 2          EUR                 EU Economic Summit                       0             0
          ALUMINIUM -12125 1934425
          NICKEL           -456    261204
                                                                                                           6:00pm         USD              Core PCE Price Index m/m                 0.001         0.003
  -6000   LEAD            -1575    119500
          ZINC             -125    271225
                                                                                                           6:00pm         USD                 Goods Trade Balance                  -85.5B         -83.7B
  -8000
                                                                                                           6:00pm         USD                Personal Income m/m                   -0.069           0.1

 -10000                                                                                                    6:00pm         USD                Personal Spending m/m                 -0.008         0.024

 -12000                                                                                                    6:00pm         USD         Prelim Wholesale Inventories m/m                 0          0.013

                                  -12125
                                                                                                           7:30pm         USD         Revised UoM Consumer Sentiment                  83.6          83
 -14000
                                                                                                           7:30pm         USD         Revised UoM Inflation Expectations               0          0.031
                                            LME STOCK

Date : Friday, March 26, 2021                                                               URL : www.systematixshares.com                                                              Page No : 12
NEWS YOU CAN USE

The Bank of Japan must seek ways to encourage corporate investment to promote digitalisation and a carbon-free society, one of its board members said at a January
meeting, suggesting that the idea could emerge as a future policy option. Meeting for a rate review weeks after the government rolled out fresh curbs to prevent the
spread of the coronavirus pandemic, BOJ policymakers warned of various risks that cloud their projections of a moderate economic recovery. Among them was the chance
the pandemic could prod firms to put off investment for innovation, minutes of the Jan. 20-21 meeting showed. “It’s important to encourage corporate activities for future
growth such as research and development investment, business portfolio reforms, and efforts on digitalisation and decarbonisation,” one of the members was quoted as
saying. “It’s crucial for the BOJ to devise monetary policy means to boost firms’ and households’ growth expectations by showing its determination to never allow a return
to deflation,” the member said.

The euro area private sector returned to growth in March underpinned by a record expansion in manufacturing as global demand continued to revive from the pandemic,
survey results from IHS Markit showed. The composite output index rose to an eight-month high of 52.5 in March from 48.8 in February. The reading was forecast to
climb to 49.1. The score exceeded the neutral level of 50.0 for the first time since last September, suggesting expansion in the private sector. Divergent trends were seen
by sector. Manufacturing output growth improved sharply to a record high, while the service sector was again hit by virus-related restrictions. The manufacturing
Purchasing Managers' Index reached a record 62.4 from 57.9 in the prior month. The score was well above forecast of 57.7. Although the services PMI advanced to a
seven-month high of 48.8 from 45.7 in February, the reading was below the neutral 50.0. The expected reading was 46.0. According to flash survey, the manufacturing
upturn in the currency bloc was led by a record surge of factory production in Germany. Germany also outshone in terms of service sector performance.

India's edible oil consumption is expected to contract for the second straight year in 2020/21 as a rally in vegetable oil prices to multi-year highs curbs retail buying,
industry officials told. Lower demand in India, the world's biggest importer of vegetable oils, could limit a rally in benchmark Malaysian palm oil prices which are trading
near their highest level in a decade. Edible oil consumption could fall to 21 million tonnes in 2019/20 marketing year ending on Oct. 31 from 22 million a year earlier, he
said. In 2018/19 demand was around 23 million tonnes. India's edible oil consumption usually rises by 2-3% per annum because of rising population and prosperity, but
this year it will likely fall by around 5%, he said. Lower consumption would reduce imports as India fulfils more than 70% of its demand through imports. "Imports fell last
year due to lockdown. This year a combination of very high prices and increased availability of oilseeds would bring down imports," said Atul Chaturvedi, president of the
Solvent Extractors Association of India. India's edible oil imports could fall to 12.5 million tonnes in 2020/21 from last year's 13.2 million, the lowest in six years,
Chaturvedi said.

Date : Friday, March 26, 2021                                                 URL : www.systematixshares.com                                                  Page No : 13
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Date : Friday, March 26, 2021                                                                                                           URL : www.systematixshares.com                                                                                                              Page No : 14
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