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Base Metals: Copper, nickel, zinc trade up in futures driven by firm demand

The metal for November delivery gained 30 paise, or 0.22 per cent, to Rs 136.80 per kg in 15 lots.

PTI|
Oct 07, 2019, 03.00 PM IST
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Nickel-GETTY
On the Multi Commodity Exchange, nickel contracts for October delivery gained Rs 1.90, or 0.15 per cent, to Rs 1,267.40 per kg in a business turnover of 5,094 lots.

Commodity Summary
MCX

COPPER
ZINC
Copper futures traded 40 paise higher at Rs 436.20 per kg in futures trade on Monday as speculators built fresh positions at the spot market.

On the Multi Commodity Exchange, copper contracts for October delivery rose by 40 paise, or 0.09 per cent, to Rs 436.20 per kg in a business turnover of 3,209 lots.

Copper contracts for November delivery traded up by 50 paise, or 0.11 per cent, at Rs 440.45 per kg in a business turnover of 54 lots.

However, in the international market, the metal was quoting 0.34 per cent lower at $5,643 per tonne on London Metal Exchange.

Nickel
Nickel prices strengthened by Rs 1.90 to Rs 1,267.40 per kg in futures trade on Monday as investors raised their positions driven by a firm demand from alloy-makers at the spot market.

On the Multi Commodity Exchange, nickel contracts for October delivery gained Rs 1.90, or 0.15 per cent, to Rs 1,267.40 per kg in a business turnover of 5,094 lots.

Similarly, the metal for delivery in November traded up by Rs 3, or 0.24 per cent, at Rs 1,257.50 per kg in a business turnover of 164 lots.

Increase in demand at spot market from alloy-makers supported price rise in nickel futures, analysts said.

Zinc
Zinc prices rose 0.14 per cent to Rs 181.95 per kg in futures market on Monday as traders built up fresh positions amid increase in spot demand.

On the Multi Commodity Exchange, zinc for delivery in October traded higher by 25 paise, or 0.14 per cent, to Rs 181.95 per kg in a business turnover of 1,772 lots.

Similarly, the metal for delivery in November edged up by 40 paise, or 0.22 per cent, to Rs 184.20 per kg in 8 lots.

Market analysts said fresh positions created by participants on the back of rise in demand from consuming industries mainly attributed to gain in zinc prices.

Aluminium

Aluminium prices edged up by 25 paise to Rs 134.55 per kg in futures trade on Monday as speculators created fresh positions tracking positive cues from overseas markets.

On the Multi Commodity Exchange, aluminium contracts for October delivery traded up by 25 paise, or 0.19 per cent, to Rs 134.55 per kg in a business turnover of 1,072 lots.

The metal for November delivery gained 30 paise, or 0.22 per cent, to Rs 136.80 per kg in 15 lots.

On the London Metal Exchange, the metal was trading up 0.06 per cent at $1,719 per tonne.

Lead
Lead prices traded higher by 40 paise to Rs 157.80 per kg in futures trade on Monday as participants built up fresh positions driven by pick-up in demand at the spot market.

On the Multi Commodity Exchange, lead for delivery in October edged higher by 40 paise, or 0.25 per cent, to Rs 157.80 per kg in a business volume of 2,129 lots.

Lead contracts for November delivery traded up by 15 paise, or 0.1 per cent, to Rs 157.90 per kg in a business turnover of 15 lots.

Market analysts said fresh positions created by traders due to upsurge in demand by battery-makers in the physical market mainly helped lead prices to trade higher.

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

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