India Commodity Review of Nickel, Lead and Copper
on August 2nd, 2008 at 8:31 amIndia Markets – The commodity markets are down on Friday morning but in the metal sector Lead and Nickel staged some surge and Lead is trading at Rs 95.25 per kg (0.95 per cent up) for August contracts at MCX while Nickel gained 0.67 per cent at Rs 802 per kg for August contracts.
The September contracts for Lead is unchanged at Rs 95.05 per kg. The Nickel contracts for September is up at Rs 815 per kg, a gain of 0.57 per cent.
September copper fell 8.30 cents to $3.5785, pressured by a slow U.S. economy and possible signs of slowing in China.
An index of manufacturing in China fell from 52.0 to 48.4 in July, the first sign of contraction since records began in 2005.
Also, London inventories of copper were up 2,250 tons today to 144,650 tons, but still down from 197,450 tons at the start of 2008.
commodityonline.com