Commodity roundup: Lead slides 0.39%, zinc falls 0.28%, copper slips 0.12%
NEW DELHI: Amid sluggish domestic demand and profit-booking by speculators, lead prices softened 0.39 per cent to Rs 154.65 per kg in futures trade on Tuesday.
At the Multi Commodity Exchange, lead for delivery in March moved down by 60 paise, or 0.39 per cent, to Rs 154.65 per kg in business turnover of 15 lots.
Likewise, the metal for delivery in February contracts shed 45 paise, or 0.29 per cent, to Rs 154.35 per kg in 389 lots.
Analysts said besides sluggish demand from battery makers in the spot market, trimming of positions by traders to book profits at current levels led to the fall in lead prices at futures trade.
Zinc
Zinc futures traded 0.28 per cent lower at Rs 192.50 per kg today as speculators trimmed positions amid subdued demand at the physical markets.
Zinc for delivery in current month also fell by 55 paise, or 0.28 per cent, to Rs 192.60 per kg at the Multi Commodity Exchange, clocking a business turnover of 591 lots.
The metal for delivery in March softened by a similar margin to trade at Rs 192.60 per kg in 61 lots.
Analysts said the weakness in zinc at futures trade was mostly due to trimming of positions by speculators amid a weak trend at the domestic spot markets.
Copper
Copper futures traded 0.12 per cent lower at Rs 404.55 per kg as speculators offloaded bets.
Furthermore, subdued demand at domestic spot market pushed down metal prices.
At the Multi Commodity Exchange, copper for delivery in February shed 50 paise, or 0.12 per cent, to Rs 404.55 per kg, in a business turnover of 1,851 lots.
Also, metal for delivery in April was trading down by a similar margin at Rs 408.55 per kg in 92 lots.
Analysts attributed the fall to offloading of positions by participants amids muted demand at the domestic spot markets.
At the Multi Commodity Exchange, lead for delivery in March moved down by 60 paise, or 0.39 per cent, to Rs 154.65 per kg in business turnover of 15 lots.
Likewise, the metal for delivery in February contracts shed 45 paise, or 0.29 per cent, to Rs 154.35 per kg in 389 lots.
Analysts said besides sluggish demand from battery makers in the spot market, trimming of positions by traders to book profits at current levels led to the fall in lead prices at futures trade.
Zinc
Zinc futures traded 0.28 per cent lower at Rs 192.50 per kg today as speculators trimmed positions amid subdued demand at the physical markets.
Zinc for delivery in current month also fell by 55 paise, or 0.28 per cent, to Rs 192.60 per kg at the Multi Commodity Exchange, clocking a business turnover of 591 lots.
The metal for delivery in March softened by a similar margin to trade at Rs 192.60 per kg in 61 lots.
Analysts said the weakness in zinc at futures trade was mostly due to trimming of positions by speculators amid a weak trend at the domestic spot markets.
Copper
Copper futures traded 0.12 per cent lower at Rs 404.55 per kg as speculators offloaded bets.
Furthermore, subdued demand at domestic spot market pushed down metal prices.
At the Multi Commodity Exchange, copper for delivery in February shed 50 paise, or 0.12 per cent, to Rs 404.55 per kg, in a business turnover of 1,851 lots.
Also, metal for delivery in April was trading down by a similar margin at Rs 408.55 per kg in 92 lots.
Analysts attributed the fall to offloading of positions by participants amids muted demand at the domestic spot markets.
