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Base Metals: Copper, nickel, lead futures up on spot demand
1st of July ,2019
New Delhi
Zinc futures traded 0.44 per cent lower to Rs 193.05 per kg on Monday as speculators reduced exposure amid subdued demand at the spot market.
Zinc for delivery in July contracts fell by 85 paise, or 0.44 per cent, to Rs 193.05 per kg on the Multi Commodity Exchange clocking a business turnover of 6,119 lots.
Traders said the weakness in zinc prices at futures trade was mostly due to cutting down of bets by speculators in tandem with a weak trend at the spot market.
Nickel
Nickel prices went up by 1.11 per cent to Rs 896 per kg in futures trade Monday as speculators raised their bets amid a firm trend overseas and higher spot demand.
On the Multi Commodity Exchange, nickel for delivery in July contracts gained Rs 9.80, or 1.11 per cent, to Rs 896 per kg in a business turnover of 10,199 lots.
Increase in domestic demand from alloy-makers and firmness in base metals overseas influenced nickel prices at futures trade.
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