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Base Metals: Copper, nickel, lead futures soften on weak domestic demand

Copper for delivery in August contracts traded higher by 65 paise to Rs 437.10 per kg.

PTI|
Aug 06, 2019, 02.14 PM IST
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Analysts said gains in copper and other metals on rising demand at the domestic spot market mainly influenced metal prices here.

Commodity Summary
MCX

NICKEL
COPPER
ZINC
New Delhi: Copper futures on Tuesday traded 0.15 per cent higher at Rs 437.10 per kg as speculators raised bets largely in line with a firming trend in base metals at the spot market.

On the Multi Commodity Exchange, copper for delivery in August contracts traded higher by 65 paise, or 0.15 per cent, to Rs 437.10 per kg in a business turnover of 3,333 lots.

Analysts said gains in copper and other metals on rising demand at the domestic spot market mainly influenced metal prices here.

Nickel

Nickel prices on Tuesday fell 0.39 per cent to Rs 1,060.60 per kg as traders trimmed their holdings amid easing demand at the spot market.

On the Multi Commodity Exchange, the August contracts of nickel was trading lower by Rs 4.30, or 0.39 per cent, to Rs 1,060.60 per kg in a business volume of 13,017 lots.

Marketmen said off-loading of positions by participants due to slackened demand from alloy makers at the spot market weighed on nickel futures here.

Lead

Lead prices eased 0.03 per cent to Rs 154.25 per kg in the futures trade on Tuesday, as investors trimmed their holdings amid subdued demand at the domestic spot market.

On the Multi Commodity Exchange, lead for delivery in August was trading lower by 5 paise, or 0.03 per cent, to Rs 154.25 per kg in a business turnover of 2,360 lots.

Marketmen said weak trend in base metals at the domestic spot market due to slackened demand from battery makers mainly exerted pressure on lead futures here.

Zinc

Zinc prices eased 0.08 per cent to Rs 188.65 per kg in the futures trade on Tuesday, as speculators cut down positions taking weak cues from the spot market.

On the Multi Commodity Exchange, zinc for delivery in August contracts declined 15 paisa, or 0.08 per cent, to Rs 188.65 per kg in a business turnover of 4,044 lots.

Marketmen said weakness in metals in the domestic spot market due to slackened demand from consuming industries mainly influenced prices.

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Base Metals: Copper, zinc, nickel futures fall on subdued global cues

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Base Metals: Copper, nickel, zinc futures up on spot demand

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