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

On the MCX, zinc for August contracts was trading higher by 95 paise to Rs 189.40 per kg.

PTI|
Aug 05, 2019, 01.47 PM IST
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BCCL
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Marketmen said widening of positions by participants following pick-up in demand from consuming industries kept zinc prices higher.

Commodity Summary
MCX

NICKEL
COPPER
ZINC
New Delhi: Zinc prices rose 0.5 per cent to Rs 189.40 per kg in futures trade Monday tracking a firm trend at the physical market on the back of pick-up in demand.

On the Multi Commodity Exchange, zinc for August contracts was trading higher by 95 paise, or 0.5 per cent, to Rs 189.40 per kg with a business turnover of 3,715 lots.

Marketmen said widening of positions by participants following pick-up in demand from consuming industries kept zinc prices higher.

Copper

Copper futures rose 0.54 per cent to Rs 435.60 per kg Monday after participants raised their positions amid pick-up in demand at the spot market

On the Multi Commodity Exchange, copper for delivery in August contracts rose by Rs 2.35, or 0.54 per cent, to Rs 435.60 per kg in a business turnover of 4,717 lots.

Market analysts said increased demand from consuming industries and a firm trend in base metals mainly influenced copper prices here.

Lead

Lead prices rose 0.56 per cent to Rs 152.35 per kg in futures trade Monday due to pick-up in demand from consuming industries at the spot market.

On the Multi Commodity Exchange, lead for delivery in August contracts was trading up by 85 paise, or 0.56 per cent, to Rs 152.35 per kg in a business turnover of 1,862 lots.

Market analysts said fresh positions created by traders amid upsurge in demand from battery-makers in the spot market mainly led to the rise in lead prices here.

Nickel

Nickel prices rose 2.43 per cent in futures trade on Monday as speculators raised their bets amid spot demand.

On the Multi Commodity Exchange, nickel for delivery in August gained Rs 24.90, or 2.43 per cent, to Rs 1,047.50 per kg in a business turnover of 19,381 lots.

Increase in domestic demand from alloy-makers and firmness in base metals at the spot market mainly influenced nickel prices here, analysts said.

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