Monday, April 14, 2014

COMMODITY DAILY REPORT FOR 15 APRIL 2014

Base Metals & Energy
D A I L Y B U Z Z 
NICKEL 
Nickel prices moved up by 0.15 per cent to Rs 1,042.90 per kg in futures market today as speculators enlarged their positions, tracking a firming trend in spot market on increased demand from alloy-makers.

Besides, an encouraging trend at the London Metal Exchange (LME) supported the upside. At the Multi Commodity Exchange, nickel for delivery in May gained Rs 1.60, or 0.15 per cent, to Rs 1,042.90 per kg in business turnover of 84 lots.

In a similar fashion, the metal for delivery in April rose Rs 1.30, or 0.13 per cent, to Rs 1,036.10 per kg in 641 lots.

COPPER 
Tracking a weak global trend, copper shed 0.27 per cent to Rs 409 per kg in futures trade today as speculators offloaded their positions.

At the Multi Commodity Exchange, copper for delivery in June fell Rs 1.10, or 0.27 per cent, to Rs 409 per kg in business turnover of 14 lots.

Similarly, the metal for delivery in April traded lower by 95 paise, or 0.23 per cent, to Rs 405.50 per kg in 223 lots. Analysts attributed the fall in copper futures to weak global cues and subdued demand at domestic spot markets.

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