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Base Metals: Lead, copper, zinc edge lower in futures trade on low demand

Lead prices fell by 50 paise to Rs 156.45 per kg in futures market on Monday.

PTI|
Oct 14, 2019, 01.04 PM IST
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Copper futures traded 0.05 per cent lower at Rs 442.95 per kg in futures trade on Monday after speculators reduced their exposure.
Lead prices fell by 50 paise to Rs 156.45 per kg in futures market on Monday as speculators cut bets on low demand.

On the Multi Commodity Exchange, lead for delivery in October fell by 50 paise, or 0.32 per cent, to Rs 156.45 per kg in a business turnover of 1,963 lots.

The metal for delivery in November shed 45 paise, or 0.29 per cent, to Rs 156.80 per kg in 199 lots.

Analysts said off-loading of positions by participants owing to slackened demand from consuming industries in physical market mainly influenced lead prices at futures trade here.

Copper

Copper futures traded 0.05 per cent lower at Rs 442.95 per kg in futures trade on Monday after speculators reduced their exposure.

On the Multi Commodity Exchange, copper contracts for October delivery fell by 20 paise, or 0.05 per cent, to Rs 442.95 per kg in a business turnover of 7,656 lots.

Similarly, the metal contracts for November delivery traded down by 15 paise, or 0.03 per cent, at Rs 447.10 per kg in a business turnover of 1,044 lots.

Zinc
Zinc prices fell by 60 paise to Rs 186.90 per kg in futures trade on Monday as speculators cut bets, driven by easing demand at the spot market.

At the Multi Commodity Exchange, zinc contracts for October delivery moved down by 60 paise, or 0.32 per cent, to Rs 186.90 per kg in a business turnover of 4,265 lots.

Similarly, the metal for delivery in November was trading lower by 50 paise, or 0.26 per cent, at Rs 189 per kg in 934 lots.

Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices in futures trade here.

Aluminium
Aluminium prices on Monday edged up by 0.11 per cent to Rs 133.85 per kg in futures market after speculators built up fresh positions amid positive trend at the spot market.

On the Multi Commodity Exchange (MCX), aluminium for delivery in October contracts edged higher by 15 paise, or 0.11 per cent, to Rs 133.85 per kg in a business turnover of 3,480 lots.

Analysts said fresh positions created by traders after positive demand from consuming industries mainly led to rise in aluminium prices.

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