Nickel prices on Thursday edged up by Rs 9.20 to Rs 1,059.50 per kg in futures trade as speculators built positions owing to rising demand from alloy-makers in spot market.
On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 9.20, or 0.88 per cent, to Rs 1,059.50 per kg in a business turnover of 73 lots.
Similarly, the metal for delivery in January traded up by Rs 4.10, or 0.39 per cent, at Rs 1,049.20 per kg in a business turnover of 1,908 lots.
Rising demand in spot market from alloy-makers supported price rise in nickel futures, analysts said.
Copper
Copper prices on Thursday traded up by 0.20 per cent at Rs 440.20 per kg in futures market on the back of pick-up in spot demand.
On the Multi Commodity Exchange, copper contracts for delivery in December traded higher by 90 paise, or 0.20 per cent, at Rs 440.20 per kg in a business turnover of 33 lots.
Similarly, the metal for delivery in January edged up by 85 paise, or 0.19 per cent, to Rs 445.10 per kg in 1,308 lots.
Analysts attributed the rise in copper prices to raising of bets by participants driven by a pick-up in demand in spot market.
Zinc
Zinc prices on Thursday fell by 25 paise to Rs 176 per kg in futures trade as speculators cut bets amid easing demand in spot market.
On the Multi Commodity Exchange, zinc contracts for December delivery moved down by 25 paise, or 0.14 per cent, to Rs 176 per kg in a business turnover of 37 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in physical market weighed on zinc prices in futures trade here.
Aluminium
Aluminium prices on Thursday edged up 0.19 per cent to Rs 135.05 per kg in futures market after speculators built up fresh positions amid positive trend in spot market.
On the Multi Commodity Exchange, aluminium for delivery in December contracts gained 25 paise, or 0.19 per cent, to Rs 135.05 per kg in a business turnover of 11 lots.
Analysts said fresh positions created by traders on positive demand from consuming industries mainly led to rise in aluminium prices.
Lead
Lead prices on Thursday traded higher by 45 paise to Rs 149.70 per kg in futures trade as participants built up fresh positions driven by pick-up in demand in spot market.
On the Multi Commodity Exchange, lead for delivery in December edged up by 45 paise, or 0.30 per cent, to Rs 149.70 per kg with a business volume of 5 lots.
Market analysts said fresh positions created by traders due to upsurge in demand by battery-makers in physical market mainly kept lead prices higher.
Source: Economic Times
