Base Metals
D A I L Y B U Z Z
LEAD
Lead futures rose 0.26 per cent to Rs 134.30 per kg today as participants enlarged positions amidst rising demand from battery-makers in the domestic spot market even as metal weakened overseas on rising inventories. At the Multi Commodity Exchange, Lead for delivery in July traded higher by 35 paise, or 0.26 per cent, to Rs 134.30 per kg, with a turnover of 545 lots.
The metal for delivery in August gained 10 paise, or 0.07 per cent, to Rs 134.90 per kg in a business volume 263 lots.
Globally, lead for delivery in three months contracts at the LME fell as much as 1.2 per cent to $2,239.75 a metric tonne. Meanwhile, LME lead inventories climbed for the third time in four days to 214,650 tons, the highest since January 6, bourse data showed yesterday.
COPPER
Copper prices moved down by 0.10 per cent to Rs 429.25 per kg in futures trade today as speculators reduced positions amid a weak trend overseas and low demand in the spot market.
At the Multi Commodity Exchange, copper for delivery in August shed 45 paise, or 0.10 per cent, to Rs 429.25 per kg in a business turnover of 699 lots.
Likewise, the metal for delivery in far-month November traded lower by 35 paise, or 0.08 per cent, to Rs 437.15 per kg in 19 lots.
