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

On the MCX, zinc contracts for July traded higher by 5 paise at Rs 197.35 per kg.

PTI|
Jul 04, 2019, 02.46 PM IST
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BCCL
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Marketmen said fresh positions built up by participants due to pick up in spot market led to the rise in zinc futures.

Commodity Summary
MCX

NICKEL
ALUMINIUM
ZINC
New Delhi: Zinc prices rose to Rs 197.35 per kg in futures trade Thursday as speculators built up fresh positions, taking positive cues from the spot market.

On the Multi Commodity Exchange, zinc contracts for July traded higher by 5 paise, or 0.03 per cent, at Rs 197.35 per kg in a business turnover of 269 lots.

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

Lead

Lead prices were trading higher by 0.2 per cent to Rs 152.60 per kg in futures trade Thursday 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 July contracts edged higher by 30 paise, or 0.2 per cent, to Rs 152.60 per kg in a business volume of 6,490 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.

Nickel

Nickel prices fell by 0.08 per cent to Rs 883.10 per kg in futures trade Thursday as traders cut bets tracking a weak trend at the spot market.

On the Multi Commodity Exchange, nickel for delivery in current month declined by 70 paisa, or 0.08 per cent, to Rs 883.10 per kg in a business turnover of 8,794 lots.

Market analysts said the fall in nickel prices was mostly in sync with a weak trend at the spot market on muted demand from the alloy-makers.

Aluminium

Aluminium prices rose to Rs 142 per kg in futures trade Thursday as speculators extended their positions, taking firm cues from the spot market.

On the Multi Commodity Exchange, aluminium contracts for July delivery traded higher by 10 paise, or 0.07 per cent, at Rs 142 per kg in a business turnover of 2,865 lots.

Analysts said extending of positions by traders, owing to upbeat demand from consuming industries, mainly pushed up aluminium prices here.
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