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Base Metals: Zinc, nickel, lead rise in futures trade amid strong demand

Copper traded lower by 15 paise at Rs 437.50 per kg in futures market on Friday as speculators reduced their exposure amid weak demand.

On the Multi Commodity Exchange, copper contracts for October delivery fell by 15 paise, or 0.03 per cent, at Rs 437.50 per kg in 3,219 lots.

Similarly, copper contracts for November delivery traded lower by 16 paise at Rs 441.95 per kg in 313 lots.



Globally, copper traded 0.16 per cent higher at $5,739 per tonne on the London Metal Exchange.


Zinc
Zinc prices gained 55 paise at Rs 185.40 per kg in futures market on Friday as traders built up fresh positions amid increase in spot demand.

On the Multi Commodity Exchange, zinc for delivery in October traded higher by 55 paise, or 0.30 per cent, to Rs 185.40 per kg in a business turnover of 2,126 lots.

Similarly, the metal for delivery in November edged up by 60 paise, or 0.32 per cent, at Rs 188.05 per kg in 56 lots.

Market analysts said fresh positions created by participants on rise in demand from consuming industries mainly attributed to gain in zinc prices.


Nickel
Nickel prices rose by Rs 5.60 at Rs 1,179.10 per kg in futures trade on Friday as speculators raised their bets, driven by firm demand at the spot market.

On the Multi Commodity Exchange, Nickel for October delivery rose by Rs 5.60, or 0.49 per cent, at Rs 1,179.10 per kg in 7,490 lots.

Similarly, the metal for November delivery gained Rs 5.30, or 0.45 per cent, at Rs 1,173.60 per kg in 590 lots.

Analysts said raising of bets by participants largely on increased demand from alloy-makers at domestic market mainly influenced nickel futures here.

Lead
Lead prices traded higher by 10 paise at Rs 156 per kg in futures trade on Friday 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 October edged higher by 10 paise, or 0.06 per cent, at Rs 156 per kg in 1,069 lots.

Lead contracts for November delivery traded up by 15 paise, or 0.09 per cent, at Rs 156.65 per kg in 82 lots.

Market analysts said fresh positions created by traders due to surge in demand by battery-makers in the physical market mainly helped lead prices to trade higher.

Aluminium
Aluminium prices fell 15 paise to Rs 133.40 per kg on Friday as participants trimmed their positions amid a weak trend at the spot market.

On the Multi Commodity Exchange, aluminium for delivery in October declined by 15 paise, or 0.11 per cent, at Rs 133.40 per kg in 362 lots.

Similarly, the metal for delivery in November weakened by 10 paise at Rs 135.60 per kg in 43 lots.

Analysts said cutting down of positions by participants on easing demand from consuming industries in physical market mainly kept aluminium prices lower here.

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