Copper Futures Surge On Upbeat Demand

Copper futures were trading higher in the domestic market on Thursday as speculators widened their bets. Analysts said firming trend in base metals at the domestic spot markets on the back of pick up in demand from consuming industries, influenced the metal’s futures here.
At the MCX, copper futures for November 2017 contract was trading at Rs 428.50 per kg, up by 0.42 per cent, after opening at Rs 428.00, against a previous close of Rs 426.70. It touched the intra-day high of Rs 428.80 (at 12:25 hours).
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Lead Futures Dip On Muted Demand

Lead futures were trading lower during the afternoon trade in the domestic market on Thursday as participants reduced their exposure amid subdued demand from consuming industries in the spot market. Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.
At the MCX, lead futures for October 2017 contract is trading at Rs 165.65 per kg, down by 0.15 per cent, after opening at Rs 165.55, against a previous close of Rs 165.90. It touched the intra-day low of Rs 165.35 (at 12:06 hours).
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Gold Little Changed In Quiet Trade Ahead Of U.S. Jobs Data

Gold held within a tight trading range on Thursday as the dollar held firm on strong U.S. services sector growth, with markets awaiting the key U.S. non-farm payrolls report on Friday.
Spot gold was steady at $1,274.11 an ounce at 0655 GMT.
U.S. gold futures for December delivery were unchanged at $1,276.90 per ounce.
“Everyone’s waiting for the employment figures this Friday. Unless somebody in the Federal Reserve says something, there’s not going to be much movement until Friday,” said Yuichi Ikemizu, Tokyo branch manager at CIBC Standard Bank.
On Thursday, the dollar inched up against a basket of its peers, upheld as data from Wednesday showed accelerated growth in the U.S. services sector in September, although sagging Treasury yields limited gains.
Markets awaited U.S. non-farm payrolls data on Friday, with investors expecting a slowdown in new jobs due to disruptions from two major hurricanes in September.
Asian shares were a tad firmer in early trade, taking their cues from strong U.S. data although holiday-thinned trade and uncertainty about the impact of recent hurricanes on the U.S. economy were likely to keep investors cautious.
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Oil Stable on Expectations of Extended Output Cut, but U.S. Crude Exports Drag

Oil prices were stable on Thursday on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on the market.
Brent crude futures, the international benchmark for oil prices, were at $55.83 per barrel at 0538 GMT, up 3 cents from their previous close.
Russian President Vladimir Putin said on Wednesday that a pledge by the Organization of the Petroleum Exporting Countries (OPEC) and other producers, including Russia, to cut oil output to boost prices could be extended to the end of 2018, instead of expiring in March 2018.
The statement came ahead of a visit by Saudi Arabia’s King Salman to Moscow.
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Nickel Futures Up On Pickup In Demand

Nickel futures were trading higher during the afternoon trade in the domestic market on Thursday as participants widened their bets, driven by pick-up in demand in the spot market. Analysts attributed rise in nickel futures to building-up of positions by traders due to pick up in demand from alloy- makers in the spot market.
At the MCX, nickel futures for October 2017 contract is trading at Rs 693.90 per kg, up by 0.73 per cent, after opening at Rs 692.70, against a previous close of Rs 688.90. It touched the intra-day high of Rs 695.80(at 13:03 hours).
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Aluminium Futures Down Amid Muted Demand

Aluminium futures were trading lower during the noon trade in the domestic market on Thursday as speculators cut down positions, driven by easing demand at the spot market. Analysts said trimming of positions by participants owing to slackened demand from consuming industries in the spot market mainly influenced aluminium prices at futures trade.
At the MCX, aluminium futures for October 2017 contract is trading at Rs 139.80 per kg, down by 0.11 per cent, after opening at Rs 139.80, against a previous close of Rs 139.95. It touched the intra-day low of Rs 139.70 (at 14:10 hours).
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Zinc Futures Rise On Pickup In Demand

Zinc futures were trading higher during the afternoon trade in the domestic market on Thursday as speculators created fresh positions on pick-up in demand from consuming industries at the spot markets. Market analysts attributed the rise in zinc futures to fresh bets created by participants on the back of rising demand at the domestic spot market.
At the MCX, zinc futures for October 2017 contract was trading at Rs 215.10 per kg, up by 0.02 per cent, after opening at Rs 214.65, against a previous close of Rs 215.05. It touched the intra-day high of Rs 215.75 (at 14:09 hours).
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