MCX Tips: Copper, lead, aluminium futures up on spot demand

Copper prices rose 0.27 per cent to Rs 452.50 per kg in futures trade Tuesday after participants raised their positions amid pick-up in demand at spot market. 

On the Multi Commodity Exchange, copper contracts for July delivery traded higher by Rs 1.20 paise, or 0.27 per cent, to Rs 452.65 per kg in a business turnover of 120 lots. 

Copper contracts for August delivery traded down by 90 paise, or 0.2 per cent, to Rs 449.40 per kg in a business turnover of 5,942 lots. 

Analysts attributed the rise in copper prices at futures trade to raising of bets by participants, driven by a pick-up in demand at the spot market. 

Nickel prices fell 0.35 per cent to Rs 985.40 per kg in futures trade Tuesday as speculators booked profits amid subdued demand at the spot market. 

The metal for delivery in August contracts also dipped 0.1 per cent, or Re 1, to trade at Rs 998.80 per kg in a business turnover of 10,318. 

Lead 

Lead prices rose 0.06 per cent to Rs 157.25 per kg in futures trade Tuesday due to pick-up in demand from consuming industries at the spot market. 

On the Multi Commodity Exchange, lead for delivery in July contracts was trading up by 10 paise, or 0.06 per cent, to Rs 157.25 per kg in a business turnover of 194 lots. 

Zinc 

Zinc futures traded marginally lower at Rs 190.85 per kg on Tuesday as speculators reduced exposure amid subdued demand at the spot market. 

Zinc contracts for July delivery fell by 25 paise, or 0.13 per cent, to Rs 190.85 per kg at the Multi Commodity Exchange, clocking a business turnover of 210 lots. 

Aluminium 

Aluminium prices edged up by 0.25 per cent to Rs 138.85 per kg in futures trade Tuesday after speculators built up fresh positions amid an uptick in demand at the spot market. 

On the Multi Commodity Exchange (MCX), aluminium contracts for July delivery rose by 35 paise, or 0.25 per cent, to Rs 138.85 per kg in a business turnover of 486 lots. 

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