MCX News & Tips--Base metals post mild gains, sentiment weak

Base metals futures traded up with marginal gains during the early hours of trading on Multi Commodity Exchange (MCX) Friday tracking restricted move at the LME counter. Outlook in copper is reported weak with low demand. Ongoing geo-political crisis in Middle-East is weighing on global trading sentiment. Aluminium March contract traded at Rs 117.00, up Re 0.20 at 10:31 am IST and opened the session at Rs 116.90 per kg. It moved between Rs 117.10- 116.80 per kg. Total volume so far recorded at 188 lots. Copper April contract traded at Rs 448.40 per kg, down Re 0.40 at 10:32 am IST and traded in the range of Rs 449.80- 448.00 per kg. Total volumes so far recorded 3,142 lots. Lead March contract currently traded at Rs 118.30/kg, up Re 0.20. The session opened at Rs 118.30 per kg and so far fluctuated in the range of Rs 118.50- 117.90 per kg. Total volumes recorded 1,098 lots. Nickel February contract traded at Rs 1,301.50/kg, up Rs three and moved between Rs 1,304.00- 1,297.00 per kg. Volume so far recorded 1,949 lots. It had opened the session at Rs 1,301.00 per kg. Zinc February contract traded at Rs 112.50, up Re 0.10 and traded between Rs 112.70- 112.20 per kg. Total volumes recorded 859 lots.