Free Base Metals Tips Of 09.03.2015

Base Metals & Energy :

Natural Gas futures surged in the domestic market on Wednesday as investors and speculators booked fresh positions in the energy commodity as forecasts showed a blast of cold air heading into the US, lifting the demand outlook for the hearing fuel. The MDA Weather Services predicted below-normal temperatures across most of the lower 48 states over the next five days. At the MCX, Natural Gas futures for March 2015 contract closed at Rs 173.70 per 1 kg, up by 2.42 percent after opening at Rs 170, against the previous closing price of Rs 169.60. It touched the intra-day high of Rs 174.30 till the closing.

Lead prices rose by 0.58 percent on Thursday at the domestic markets due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 375 metric tonnes to 213875 metric tonnes as on March 5, 2015. At the MCX, Lead futures, for the March 2015 contract, is trading at Rs 111.90 per kg, up by 0.58 percent, after opening at Rs 110.90, against a previous close of Rs 111.25. It touched an intra-day high of Rs 112.05 till the trading.