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Nickel, zinc, lead plunge up to 1.50% on US-China trade tensions

At the Multi Commodity Exchange, nickel for delivery in May fell by Rs 12.10, or 1.43 per cent, to Rs 835 per kg in a business turnover of 12,775 lots.

PTI|
May 06, 2019, 02.16 PM IST
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Zinc prices fell 1.04 per cent to Rs 217.80 per kg in futures market Monday after speculators trimmed positions amid subdued demand at the domestic spot market.

Commodity Summary
MCX

ZINC
NICKEL
New Delhi: Nickel prices fell by 1.43 per cent to Rs 835 per kg in futures trade Monday as speculators cut down their positions, taking negative cues from spot market on muted demand from consuming industries.

At the Multi Commodity Exchange, nickel for delivery in May fell by Rs 12.10, or 1.43 per cent, to Rs 835 per kg in a business turnover of 12,775 lots.

Similarly, the metal for June delivery traded lower by Rs 12.80, or 1.46 per cent, to Rs 861 per kg in 253 lots.

Market analysts said offloading of positions by participants, following the fall in demand from alloy makers, influenced nickel prices at futures trade here.

Lead
Lead prices fell by 0.85 per cent in futures trade Monday as participants reduced their positions due to muted demand at the domestic spot market.

At the Multi Commodity Exchange, lead for delivery in June was down by Rs 1.25, or 0.85 per cent, to Rs 146.60 per kg in a business turnover of 281 lots.

Marketmen said offloading of bets by participants, tracking a weak trend at the domestic spot market due to weak demand, led to the fall in lead futures here.

Zinc
Zinc prices fell 1.04 per cent to Rs 217.80 per kg in futures market Monday after speculators trimmed positions amid subdued demand at the domestic spot market.

At the Multi Commodity Exchange, zinc for delivery in May drifted down by Rs 2.30, or 1.04 per cent, to Rs 217.80 per kg in a business turnover of 5,233 lots.

Analysts said cutting down of positions by traders, triggered by a weak trend at the domestic physical markets due to low demand, mainly led to the fall in zinc prices at futures trade.

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