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The Economic Times

Base Metals: Zinc, copper, aluminium futures up on spot demand

New Delhi: Zinc prices rose 0.08 per cent to Rs 194.05 per kg in futures trade Monday as speculators built up fresh positions, taking positive cues from the spot market.

On the Multi Commodity Exchange, zinc contracts for July delivery traded higher by 15 paise, or 0.08 per cent, at Rs 194.05 per kg in a business turnover of 5,315 lots.

Marketmen said fresh positions built up by participants due to pick up in demand at spot markets led to the rise in zinc futures.

Copper

Copper prices rose 0.23 per cent to Rs 444.15 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 contracts for July delivery traded higher by Re 1, or 0.23 per cent, to Rs 444.15 per kg in a business turnover of 5,901 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.

Aluminium

Aluminium prices inched up 0.18 per cent to Rs 142.60 per kg in futures trade Monday as speculators created fresh positions amid rising spot demand and positive trend overseas.

On the Multi Commodity Exchange, aluminium contracts for July delivery edged up by 25 paise, or 0.18 per cent, to Rs 142.60 per kg in 2,313 lots.

Analysts said positions built up by participants on the back of rising demand from consuming industries in the physical markets, coupled with positive global cues, led to the rise in aluminium prices.

Lead

Lead prices fell 0.32 per cent to Rs 156.35 per kg in futures trade Monday after participants booked profits amid subdued demand at the spot market.

On the Multi Commodity Exchange, lead contracts for July delivery traded down by 50 paise, or 0.32 per cent, to Rs 156.35 per kg in a business turnover of 2,951 lots.

Analysts attributed the fall in lead prices at futures trade to profit-taking by players at current levels coupled with low demand at the spot market.
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