Base metals: Zinc, copper fall on profit booking

Zinc futures fell 0.52 per cent nowadays as participants hamper bets and reserved profits at current levels as the metal reinforced within the world market.

At the Multi commodities market, Zn for delivery in current month was commerce lower by Rs 1.10, or 0.52 per cent, to Rs 209.40 per kg, with a business turnover of 460 heaps.

The metal for delivery in December too fell Re 1, or 0.48 per cent, to Rs 208.80 per weight unit in an exceedingly turnover of thirty five heaps.

Traders aforesaid the autumn in Zn costs in futures trade was largely attributed to profit-booking at current levels however a firm trend in base metals at the London Metal Exchange (LME), restricted losses.

Copper
Copper futures listed 0.21 per cent lower at Rs 451.30 per weight unit nowadays as speculators cut positions amid muted demand at the domestic spot markets.

However, firm trend in metal at the London Metal Exchange (LME), capped the autumn.

At the Multi commodities market, copper for delivery in February next year declined by ninety 5 paise, or 0.21 per cent, to Rs 457.10 per weight unit in an exceedingly business turnover of ten4 heaps.

The metal for delivery in November too fell by 8 paise, or 0.18 per cent, to Rs 451.30 per weight unit in an exceedingly business volume of 936 heaps.

Analysts aforesaid a weak trend in most industrial metals at the domestic spot markets attributable to slack demand from intense industries chiefly place pressure on copper futures here however a firm trend at the LME, restricted the losses.


Globally, copper for three-month delivery was commerce at one-month high of USD 7,024 per t at the LME, and is not off course for a 26 per cent annual gain, which might be its biggest since 2010.

Lead
Lead costs fell 0.37 per cent to Rs 159.75 per weight unit in futures trade nowadays as speculators hamper bets amid subdued demand at the domestic commodity exchange and profit-booking by speculators.

At the Multi commodities market, lead for delivery in November was commerce 60 paise down, or 0.37 per cent lower, at Rs 159.75 per weight unit in an exceedingly business turnover of 160 heaps.

Metal costs for delivery in December additionally fell 50 paise, or 0.31 per cent, to Rs 160.40 per weight unit in 22 heaps.

Market analysts aforesaid slackened demand from battery-makers within the domestic commodity exchange, chiefly LED to the autumn in lead futures costs here however a firm trend in base metals pack overseas, restricted losses.

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