this strategy wont work on any other commodities the reason are
1. Unlike natural gas all the base metal and crude oil stocks are less or more held worldwide and mere basemetal inventory release at 2.30 pm everyday by London Metal exchange doesnot affect the market.
2, Same with the crude oil also.
3, Only in case of natural gas 90% of the world stocks are held by USA and Canada that is the reason they have their monopoly and any data released by USA on natural gas are taken very seriously by the traders worldwide.
4. Basemetal inventories are released at 2.30 pm every day and at that time trading in INR pairs such as USDINR EURINR are on. and any upward or downward movements are factored in the commodities in real time.
5. But only incase of MCX natural gas it doesnot affect reason behind is that the natural gas inventory is released 0900 PM IST thurday and all the currency pair of INR are only traded uptp 5 PM IST worldwide. any movement in INR till 5 IST are already factored in the price of MCX Natural gas much before the data is released by EIA USA