12,106.90-62.95
Stock Analysis, IPO, Mutual Funds, Bonds & More

Base Metals: Copper, zinc, lead trade up in futures amid strong demand

Copper prices on Monday traded up by Rs 1.15 at Rs 431.25 per kg in futures.

PTI|
Nov 25, 2019, 01.59 PM IST
0Comments
Getty Images
Nickel-GETTY
Nickel futures on Monday declined by Rs 2.20 at Rs 1,071.20 per kg.
Copper prices on Monday traded up by Rs 1.15 at Rs 431.25 per kg in futures trade on pick-up in spot demand.

On the Multi Commodity Exchange, copper contracts for delivery in November traded higher by Rs 1.15, or 0.27 per cent, to Rs 431.25 per kg in a business turnover of 889 lots.

Similarly, the metal for delivery in December edged up by 60 paise, or 0.14 per cent, to Rs 436.65 per kg in 1671 lots.

Analysts attributed the rise in copper prices to raising of bets by participants driven by a pick-up in demand at spot market.

Nickel
Nickel futures on Monday declined by Rs 2.20 at Rs 1,071.20 per kg due to reducing of positions by speculators amid sluggish demand at the spot market.

On the Multi Commodity Exchange, nickel contracts for December delivery fell by Rs 2.20, or 0.20 per cent, at Rs 1,071.20 per kg with a business turnover of 1,556 lots.

Similarly, nickel contracts for January delivery fell by 80 paise, or 0.08 per cent, to Rs 1,064.20 per kg in 11 lots.

Analysts said subdued demand at the spot market mainly led to fall in nickel prices here.

Zinc
Zinc prices on Monday rose 0.58 per cent to Rs 189.55 per kg in futures trade tracking a firm trend at physical market on the back of uptick in demand.

On the Multi Commodity Exchange, zinc for November contracts was trading higher by Rs 1.10, or 0.58 per cent, at Rs 189.55 per kg with a business turnover of 408 lots.

Similarly, the metal for delivery in December edged up by 80 paise, or 0.43 per cent, to Rs 188.50 per kg in 1,003 lots

Marketmen said zinc prices rose as participants raised bets following a pickup in demand from consuming industries.

Lead
Lead prices on Monday traded higher by 55 paise to Rs 154.75 per kg in futures trade as participants built up fresh positions driven by pick-up in demand at spot market.

On the Multi Commodity Exchange, lead for delivery in November edged higher by 55 paise, or 0.36 per cent, to Rs 154.75 per kg with a business volume of 316 lots.

Lead contracts for December delivery traded up by 35 paise, or 0.23 per cent, to Rs 154.55 per kg in a business turnover of 513 lots.

Market analysts said fresh positions created by traders due to upsurge in demand by battery-makers in physical market mainly helped lead prices to trade higher.

Aluminium
Aluminium prices on Monday edged up 15 paise to Rs 129.60 per kg in futures market after speculators built up fresh positions amid positive trend at the spot market.

On the Multi Commodity Exchange, aluminium for delivery in November contracts edged higher by 15 paise, or 0.12 per cent, to Rs 129.60 per kg in a business turnover of 600 lots.

Analysts said fresh positions created by traders after positive demand from consuming industries mainly led to rise in aluminium prices.

Also Read

Base Metals: Zinc, copper trade lower in futures amid sluggish demand

Will nickel continue to outperform other base metals?

Base Metals: Nickel, copper edge up in futures amid high demand

Base Metals: Nickel trades up, copper trades lower in futures trade

Base Metals: Zinc, copper fall in futures trade amid low demand

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service