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Base Metals: Lead, aluminium edge up in futures trade amid strong demand

Lead prices on Tuesday traded higher by 5 paise to Rs 152.60 per kg in futures trade.

PTI|
Dec 10, 2019, 03.48 PM IST
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Nickel futures on Tuesday declined by Rs 9.90 to Rs 969.70 per kg.
Lead prices on Tuesday traded higher by 5 paise to Rs 152.60 per kg in futures trade as participants built up fresh positions driven by pick-up in demand in spot market.

On the Multi Commodity Exchange, lead for delivery in December edged higher by 5 paise, or 0.03 per cent, to Rs 152.60 per kg in a business volume of 1196 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.

Nickel

Nickel futures on Tuesday declined by Rs 9.90 to Rs 969.70 per kg as speculators reduced positions amid sluggish demand at the spot market.

On the Multi Commodity Exchange, nickel contracts for December delivery fell by Rs 9.90, or 1.01 per cent, at Rs 969.70 per kg with a business turnover of 2,234 lots.

Similarly, nickel contracts for January delivery fell by Rs 10.20, or 1.05 per cent, to Rs 965.5 per kg in 164 lots.

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

Aluminium

Aluminium prices on Tuesday edged up 0.15 per cent to Rs 132.70 per kg in futures market after speculators built up fresh positions amid positive trend at the spot market.

On the Multi Commodity Exchange (MCX), aluminium for delivery in December contracts edged higher by 20 paise, or 0.15 per cent, to Rs 132.70 per kg in a business turnover of 218 lots.

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

Zinc
Zinc prices on Tuesday fell by 50 paise to Rs 182.20 per kg in futures trade as speculators cut bets driven by easing demand at the spot market.

On the Multi Commodity Exchange, zinc contracts for December delivery moved down by 50 paise, or 0.27 per cent, to Rs 182.20 per kg in a business turnover of 3,314 lots.

Analysts said offloading of positions by traders owing to slackened demand from consuming industries in physical market weighed on zinc prices in futures trade here.

Copper

Copper futures on Tuesday traded 0.31 per cent lower to Rs 438.15 per kg as speculators reduced their exposure on weak spot demand.

On the Multi Commodity Exchange, copper contracts for December delivery fell by Rs 1.25, or 0.31 per cent, to Rs 438.15 per kg in a business turnover of 5,678 lots.

Similarly, copper contracts for January delivery traded lower by Re 1, or 0.23 per cent, at Rs 442.80 per kg in a business turnover of 486 lots.

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

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