Base Metals: Copper, nickel, lead futures up on spot demand
Zinc for delivery in July contracts fell by 85 paise to Rs 193.05 per kg on the MCX.
New Delhi: Zinc futures traded 0.44 per cent lower to Rs 193.05 per kg on Monday as speculators reduced exposure amid subdued demand at the spot market.
Zinc for delivery in July contracts fell by 85 paise, or 0.44 per cent, to Rs 193.05 per kg on the Multi Commodity Exchange clocking a business turnover of 6,119 lots.
Traders said the weakness in zinc prices at futures trade was mostly due to cutting down of bets by speculators in tandem with a weak trend at the spot market.
Coppe
Copper prices rose 0.60 per cent to Rs 441.20 per kg in futures trade Monday after participants raised their positions amid pick-up in demand at the spot market.
On the Multi commodity Exchange, copper for delivery in July contracts was trading higher by Rs 2.70, or 0.60 per cent to Rs 441.20 per kg in a business turnover of 4,874 lots.
Analysts attributed the rise in copper prices at futures trade to raising of bets by participants, driven by a pick-up in demand at the spot market.
Nickel prices went up by 1.11 per cent to Rs 896 per kg in futures trade Monday as speculators raised their bets amid a firm trend overseas and higher spot demand.
On the Multi Commodity Exchange, nickel for delivery in July contracts gained Rs 9.80, or 1.11 per cent, to Rs 896 per kg in a business turnover of 10,199 lots.
Increase in domestic demand from alloy-makers and firmness in base metals overseas influenced nickel prices at futures trade here, analysts said.
Lead
Lead prices rose 0.79 per cent to Rs 153.15 per kg in futures trade Monday due to pick-up in demand from consuming industries at the spot market.
On the Multi Commodity Exchange, lead for delivery in July contracts was trading up by Rs 1.20, or 0.79 per cent, to Rs 153.15 per kg in a business turnover of 2,363 lots.
Market analysts said fresh positions created by traders amid upsurge in demand from battery-makers in the spot market mainly led to rise in lead prices here.
Zinc for delivery in July contracts fell by 85 paise, or 0.44 per cent, to Rs 193.05 per kg on the Multi Commodity Exchange clocking a business turnover of 6,119 lots.
Traders said the weakness in zinc prices at futures trade was mostly due to cutting down of bets by speculators in tandem with a weak trend at the spot market.
Coppe
Copper prices rose 0.60 per cent to Rs 441.20 per kg in futures trade Monday after participants raised their positions amid pick-up in demand at the spot market.
On the Multi commodity Exchange, copper for delivery in July contracts was trading higher by Rs 2.70, or 0.60 per cent to Rs 441.20 per kg in a business turnover of 4,874 lots.
Analysts attributed the rise in copper prices at futures trade to raising of bets by participants, driven by a pick-up in demand at the spot market.
Nickel prices went up by 1.11 per cent to Rs 896 per kg in futures trade Monday as speculators raised their bets amid a firm trend overseas and higher spot demand.
On the Multi Commodity Exchange, nickel for delivery in July contracts gained Rs 9.80, or 1.11 per cent, to Rs 896 per kg in a business turnover of 10,199 lots.
Increase in domestic demand from alloy-makers and firmness in base metals overseas influenced nickel prices at futures trade here, analysts said.
Lead
Lead prices rose 0.79 per cent to Rs 153.15 per kg in futures trade Monday due to pick-up in demand from consuming industries at the spot market.
On the Multi Commodity Exchange, lead for delivery in July contracts was trading up by Rs 1.20, or 0.79 per cent, to Rs 153.15 per kg in a business turnover of 2,363 lots.
Market analysts said fresh positions created by traders amid upsurge in demand from battery-makers in the spot market mainly led to rise in lead prices here.