Commodity Market Trading- Base metals: Copper and lead rise; nickel falls

Amid a firming global trend and pick up in spot demand, copper prices moved up by 0.81 per cent to Rs 451.60 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in November was up by Rs 3.65, or 0.81 per cent, to Rs 451.60 per kg, in a business volume of 2,831 lots.

Metal for delivery in far-month February next year rose by a similar margin to trade at Rs 456.35 per kg, in a business turnover of 34 lots.

base-metals-copper-nickel-slide-on-muted-demand

Marketmen attributed the rise in copper futures to a firming trend in select base metals at the London Metal Exchange (LME).

Further, rising demand from consuming industries at domestic spot markets supported the upside, they said.

Nickel
Nickel futures traded 0.49 per cent down at Rs 752.50 per kg today as speculators reduced their exposure, tracking a weak trend at the domestic spot markets due to low demand.

Besides, profit-booking weighed on the sentiment.

At the Multi Commodity Exchange, nickel for delivery this month shed Rs 3.70 or 0.49 per cent to Rs 752.50 per kg in a business turnover of 2,135 lots.

The metal for delivery in November too fell by a similar margin to trade at Rs 758.20 per kg in 68 lots.

Market analysts said the fall in nickel prices was mostly in tune with a weak trend in the base metals at the domestic markets due to sluggish demand and  profit-booking by participants.

Lead
Lead futures rose by 0.79 per cent to Rs 165.10 per kg today on the back of strong demand in spot market and a firming trend in global market.

In futures trading at the Multi Commodity Exchange, lead for delivery in October traded higher by Rs 1.30, or 0.79 per cent, at Rs 165.10 per kg, with a turnover of 6,556 lots.

Also, the metal for delivery in November traded up by Rs 1.15, or 0.70 per cent, at Rs 165.60 per kg, in a turnover of 25 lots.

Marketmen said pick-up in domestic demand, particularly from battery-makers, and a firming trend in metals at the London Metal Exchange (LME), supported the upmove in lead prices in futures trade.

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STARINDIA Research HNI MCX UPDATE

UPDATE:-

KINDLY BOOK PARTIAL PROFIT IN LEAD BUY CALL 1ST TGT 166.10 HAS ACHIEVED. PROFIT RS. 7000/- IN 2 LOTS

 lead

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COMMODITY OUTLOOK on Lead Market

Lead:-

Lead prices edged up by 0.18 per cent to Rs 163.10 per kg in futures trade today as participants built up fresh positions after demand from consuming industries in the spot market picked up. At Multi Commodity Exchange lead for delivery in September went higher by 30 paisa or 0.18 per cent to Rs 163.10 per kg in a business turnover of 631 lots.
Similarly the metal for delivery in September contracts traded higher by 25 paisa or 0.15 per cent to Rs 162.90 per kg in. The Lead is in perfect uptrend .Currently Lead is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The oscillator is showing buy signal for short term the current position is buying. Support for the Lead is 161. Immediate resistance for Lead is 170.

lead 2

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COMMODITY OUTLOOK on Lead Market

Lead:-

Lead prices edged up by 0.18 per cent to Rs 163.10 per kg in futures trade today as participants built up fresh positions after demand from consuming industries in the spot market picked up. At Multi Commodity Exchange lead for delivery in September went higher by 30 paisa or 0.18 per cent to Rs 163.10 per kg in a business turnover of 631 lots.

Similarly the metal for delivery in September contracts traded higher by 25 paisa or 0.15 per cent to Rs 162.90 per kg in. The Lead is in perfect uptrend .Currently Lead is in strong uptrend and the trend is supported with good volume the open interest is not increasing with trend. Cautious point is buying at higher levels seems decreasing. The oscillator is showing buy signal for short term the current position is buying. Support for the Lead is 157-153-152-150-148-144-. Immediate resistance for Lead is 165.

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COMMODITY OUTLOOK on Lead Market

Lead:-

The Lead is in perfect uptrend .Currently Lead is in strong uptrend with good momentum and the trend is supported with good volume the open interest is not increasing with trend. In last few days’ lot of positive accumulation happened in the Lead. The oscillator is showing buy signal for short term the current position is buying and closed above 3 week high with volume signals up breakout. Support for the Lead is 150. Immediate resistance for Lead is 165 Lead closed above 1 week high with volume signals up breakout Currently Lead is in hold long position In short term Lead is in strong up trend so hold with stop at 154 The Lead is now trading in highly overbought level. The oscillator is showing sell signal.

lead

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Commodity Market Updates-Base metals Nickel, zinc, lead slip on muted demand

Nickel futures traded 0.95 per cent down at Rs 707.80 per kg today as speculators reduced exposure, tracking a weak trend at the domestic spot markets due to low demand.

Besides, profit-booking weighed on the sentiment.

At the Multi Commodity Exchange, nickel for delivery this month shed Rs 6.80 or 0.95 per cent to Rs 707.80 per kg in a business turnover of 1,842 lots.

The metal for delivery in October too fell by Rs 6.60 or 0.92 per cent to trade at Rs 712.80 per kg in 62 lots.

Market analysts said the fall in nickel prices was mostly in tune with a weak trend in the base metals at the domestic markets due to sluggish demand from alloy-makers amid profit-booking by speculators at current levels.

base-metals-nickel-zinc-lead-slip-on-muted-demand

Zinc
Zinc prices drifted lower by 0.37 per cent to Rs 199.20 per kg in futures trade today as traders trimmed positions amid muted demand from consuming industries in the spot market.

Profit-booking too fuelled the downtrend.

At the Multi Commodity exchange, zinc for delivery in September fell by 75 paise or 0.37 per cent to Rs 199.20 per kg, in a business turnover of 1,113 lots.

Metal for delivery in October too fell by 55 paise, or 0.28 per cent, to trade at Rs 199.35 per kg in 114 lots.

Analysts attributed the fall in zinc futures to offloading of positions by participants at current levels amid subdued demand at the domestic spot markets.

Lead
Lead prices were down by 0.56 per cent at Rs 151.65 per kg in futures trade today as traders trimmed positions following sluggish demand from consuming industries in the spot market.

At the Multi Commodity Exchange, lead for delivery in September traded lower by 85 paise or 0.56 per cent to Rs 151.65 per kg in business turnover of 313 lots.

On similar lines, the metal for delivery in October contracts edged down by 55 paise or 0.362 per cent to Rs 152.80 per kg in 14 lots.

Analysts attributed the weakness in lead futures to offloading of positions by participants, driven by tepid demand from battery-makers at the domestic markets.

Copper
Amid pick up in demand from consuming industries, copper prices moved up by 0.06 per cent to Rs 422.95 per kg in futures trade today.

At the Multi Commodity Exchange, copper for delivery in November was up by 25 paise, or 0.06 per cent, to Rs 422.95 per kg, in a business volume of 978 lots.

Metal for delivery in far-month February too gained 15 paise, or 0.04 per cent, to Rs 427.15 per kg, in a business turnover of 10 lots.

Marketmen attributed the rise in copper futures to a firming trend in metal at the domestic spot markets on the back of pick up in demand.

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MCX Trading Tips Market- Base metals: Lead, copper rise on increased demand

Lead prices were higher by 0.33 per cent to Rs 153.65 per kg in futures trade today as participants indulged in creating fresh positions due to pick up in demand from consuming industries in the spot market amid positive global cues.

At the Multi Commodity Exchange, lead for delivery in October edged up by 50 paise, or 0.33 per cent, to Rs 153.65 per kg, in a business turnover of three lots.

Likewise, the metal for delivery in current month traded higher 40 paise, or 0.26 per cent, to Rs 152.80 per kg in 183 lots.

Market analysts attributed the rise in lead futures to fresh positions built up by traders after pick up in demand from battery-makers in the spot market and gains in base metals pack overseas.

Copper

Taking positive cues from global market and rising spot demand at the domestic markets, copper prices were higher by 0.36 per cent to Rs 454.65 per kg in futures trading today as speculators raised their bets.

At the Multi Commodity Exchange, copper for delivery in February next year spurted by Rs 1.65, or 0.36 per cent, to Rs 454.65 per kg, in a business turnover of 10 lots.

Similarly, the metal for delivery in November traded higher by Rs 1.25, or 0.28 per cent, to Rs 449.50 per kg in 1,083 lots.

Analysts attributed the rise in copper futures trade to a firm global trend with confidence in global economy supported prices.

Moreover, pick up in demand at the domestic markets from consuming industries too supported the upside, they said.

Globally, copper for delivery in three month climbed 0.3 per cent to trade at a three-year high of USD 6,940 per tonne at the London Metal Exchange in yesterday’s trade.

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