REPORT OF 4TH DEC 2014 ON BASE METALS & ENERGY

Base Metals & Energy

Daily Buzz

LEAD:

Lead prices fell by 0.04 per cent on Wednesday at the domestic markets due to the surge in the lead stockpiles at the London Metal Exchange (LME) on account of the weak demand for the commodity. LME lead stocks rose by 11275 metric tonnes to 228825 metric tonnes as on December 3, 2014. At the MCX, Lead futures, for the November 2014 contract, is trading at Rs 125.90 per kg, down by 0.04 per cent, after opening at Rs 125.30, against a previous close of Rs 125.95. It touched an intra-day low of Rs 125.30 till the trading.(At 3.45 PM).
 

COPPER:

Copper futures fell by 0.25 per cent to Rs 400.10 per kg today as speculators engaged in reducing exposures amid subdued demand at domestic spot markets. At the Multi Commodity Exchange, copper for delivery in April 2015 eased by Re 1, or 0.25 percent, to Rs 403.80 per kg in a turnover of seven lots. The metal for delivery in February shed 65 paise, or 0.16 per cent, to Rs 400.10 per kg in a business volume of 932 lots.
 

CRUDE OIL:

Globally, copper for delivery in three-months traded 0.20 per cent higher at $6,425.50 per tonne at the London Metal Exchange, while in Shanghai the metal for February delivery advanced by 0.60 per cent to 45,650 yuan ($ 7,421) a tonne.