Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,831.75140.3
Stock Analysis, IPO, Mutual Funds, Bonds & More

Base metals: Copper, nickel fall on subdued demand, lead rallies

Nickel prices dipped by 0.41 per cent to Rs 898.70 per kg in futures trade Monday as speculators cut down their positions.

PTI|
Apr 15, 2019, 02.32 PM IST
0Comments
Getty Images
Copper-Getty-1200
Lead prices rose 0.71 per cent to Rs 134.45 per kg in futures trade Monday as speculators created fresh positions.

Commodity Summary
MCX

NICKEL
COPPER
New Delhi Copper futures traded lower by 0.48 per cent at Rs 448.90 per kg Monday as speculators offloaded their bets to book profits.

Besides, subdued demand at the domestic spot market further pushed down metal prices here.

At the Multi Commodity Exchange, copper for delivery in April shed Rs 2.15, or 0.48 per cent, to Rs 448.90 per kg in a business turnover of 11,940 lots.

Analysts attributed the fall in copper prices to offloading of positions by participants amid muted demand at the domestic spot market.

Nickel
Nickel prices dipped by 0.41 per cent to Rs 898.70 per kg in futures trade Monday as speculators cut down their positions, taking negative cues from spot market on muted demand from consuming industries.

At the Multi Commodity Exchange, nickel for delivery in April fell by Rs 1.30, or 0.41 per cent, to Rs 898.70 per kg in a business turnover of 8,126 lots.

Similarly, the metal for May delivery traded lower by Rs 1.50, or 0.17 per cent, at Rs 904.30 per kg in 233 lots.

Market analysts said offloading of positions by participants following the fall in demand from alloy makers influenced nickel prices at futures trade here.

Lead
Lead prices rose 0.71 per cent to Rs 134.45 per kg in futures trade Monday as speculators created fresh positions amid pick up in demand at the domestic spot market.

However, a weak trend in industrial metals overseas limited the gains.

At the Multi Commodity Exchange, lead to be delivered in April was trading higher by 95 paise, or 0.71 per cent, at Rs 134.45 per kg in a business turnover of 6,944 lots.

Increased demand from battery makers at the physical market led to the rise in lead prices at futures market here, marketmen said.
0Comments

Also Read

Base metals, edible oil may decline

Derivatives trade in base metals

Base Metals: Nickel, copper, zinc futures gain on spot demand

Base Metals: Lead, nickel futures up on spot demand

BSE seeks Sebi approval to launch futures contracts of more base metals

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for Live Elections News & Results, Latest News in Business, Share Market & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service