The lead futures gained momentum at spot markets as it rose by Rs 0.25, or 0.25 per cent, to Rs 99.55 per kg due to the increased demand at spot markets.
The lead in October contract at the Multi Commodity Exchange (MCX) traded Rs 0.25, or 0.25 per cent higher, to Rs 99.55 per kg, with a turnover of 80 lots while the September contract remained flat at Rs 98.55 per kg, with a turnover of 1,498 lots.
Another reason for the rise in the lead prices as the holiday on the London Metal Exchange, which determines the trend in base metals, capped gains.
Similarly, due to the rise in demand of nickel at the spot market, the traders indulged in covering-up pending positions, which resulted in the prices of nickel to rise by Rs 2.10, or 0.21 per cent, to Rs 1,006 per kg.
The nickel in the September contract rose Rs 2.10, or 0.21 per cent, to Rs 1,006 per kg, with a turnover of 5,725 lots while in the August contract, it also gained Rs 1.30, or 0.13 per cent, to Rs 995.80 per kg, with a turnover of 9,879 lots.
Moreover, the expectations that the global demand of nickel may increase on improved prospects for the economic growth in the US also results in nickel to continue its upward journey. LINK
Tidak ada komentar:
Posting Komentar