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Base Metals: Lead, nickel futures fell on profit booking – Economic Times

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New Delhi: Lead prices fell to Rs 156.85 per kg in futures trade Friday as participants booked profits amid subdued demand at the spot market.

On the Multi Commodity Exchange, lead contracts for July delivery were trading lower by 5 paise, or 0.03 per cent, at Rs 156.85 per kg in a business turnover of 3,092 lots.

Analysts attributed the fall in lead prices to profit-booking by players and muted demand at the spot market.

Copper

Copper prices edged higher by 0.49 per cent to Rs 443.40 per kg in futures trade Friday as participants raised bets, tracking positive global cues.

On the Multi Commodity Exchange, copper contracts for July delivery rose by Rs 2.15, or 0.49 per cent, to Rs 443.40 per kg in business turnover of 6,376 lots.

A firm trend overseas and pick up in demand in the spot market mainly led to the rise in copper prices, analysts said.

Nickel

Nickel prices fell 0.38 per cent to Rs 911.80 per kg in futures trade Friday as speculators booked profits amid subdued demand at the spot market.

On the Multi Commodity Exchange, nickel contracts for July delivery traded lower by Rs 3.50, or 0.38 per cent, to Rs 911.80 per kg in a business turnover of 8,797 lots.

The metal for delivery in August also dipped by Rs 1.20, or 0.13 per cent, to Rs 917 per kg in a business turnover of 1,312.

Analysts said a weak trend at the spot market on low demand from alloy-makers mainly weighed on nickel prices here.