EPIC COMMODITY UPDATE 20 AUGUST 2013 : NATURAL GAS

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EPIC COMMODITY UPDATE 20 AUGUST 2013 : NATURAL GAS

Post  Admin on Tue Aug 20, 2013 1:23 pm

Natural gas prices ended higher on Monday as warmer weather forecast for the coming week supported natural gas. Prices
are expected to go up as increased cooling demand for gas is likely to support prices. Front-month gas futures on the New York Mercantile Exchange ended up 9.5 cents, or 2.8 percent, at $3.463 per million British thermal units.

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EPIC COMMODITY UPDATE 20 AUGUST 2013 : ALUMINIUM

Post  Admin on Tue Aug 20, 2013 1:25 pm

Aluminium settled down -0.83% at 119.65 as markets are cautious ahead of China’s manufacturing PMI and US Fed policy meeting minutes due on Thursday. Longs took profits after LME aluminum rose for a third straight trading day, causing positions to fall by more than 11,000 lots. Aluminum prices edge down today due to a lack of market bullishness. Market attention has shifted to China’s manufacturing PMI and minutes of the Fed’s latest policy meeting due later in the week. Several Fed officials said last week the Fed will likely begin to scale back QE3 in September. If the minutes hint at wind-down of monetary stimulus, the US dollar index will rebound, which will weigh base metals down. Against this backdrop, the yields of 10-year US government bonds hit a new 2-year high and US stocks continued to drop, exposing base metals to downward correction.

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