Copper futures on Thursday dropped 0.25 per cent to Rs 442.60 per kg in futures trade as speculators reduced their bets on subdued spot demand.
On the Multi Commodity Exchange, copper contracts for December delivery fell by Rs 1.10, or 0.25 per cent, to Rs 442.60 per kg in a business turnover of 2,723 lots.
Similarly, copper contracts for January delivery traded lower by 90 paise or 0.20 per cent, at Rs 447.70 per kg in a business turnover of 111 lots.
Traders said weak demand in spot market mainly pushed down copper prices.
Nickel
Nickel prices on Thursday edged up by Rs 6.30 to Rs 1,018 per kg in futures trade as speculators built their positions owing to rising demand from alloy-makers in spot market.
On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 6.30, or 0.62 per cent, to Rs 1,018 per kg in a business turnover of 3,340 lots.
Similarly, the metal for delivery in January traded up by Rs 8, or 0.79 per cent, at Rs 1,017.20 per kg in a business turnover of 103 lots.
Rising demand in spot market from alloy-makers supported price rise in nickel futures, analysts said.
Lead
Lead prices on Thursday traded higher by 10 paise to Rs 153.50 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 higher by 10 paise, or 0.07 per cent, to Rs 153.50 per kg in a business volume of 557 lots.
Market analysts said fresh positions created by traders due to upsurge in demand by battery-makers in physical market mainly helped lead prices to trade higher.
Zinc
Zinc prices on Thursday fell by 20 paise to Rs 183.30 per kg in futures trade as speculators cut bets amid easing demand in the spot market.
At the Multi Commodity Exchange, zinc contracts for December delivery moved down by 20 paise, or 0.11 per cent, to Rs 183.30 per kg in a business turnover of 2,742 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in the physical market weighed on zinc prices in futures trade here.
Aluminium
Aluminium prices on Thursday edged up 0.07 per cent to Rs 133.85 per kg in futures market after speculators built up fresh positions amid positive trend at the spot market.
On the Multi Commodity Exchange (MCX), aluminium for delivery in December contracts edged higher by 10 paise, or 0.07 per cent, to Rs 133.85 per kg in a business turnover of 273 lots.
Analysts said fresh positions created by traders after positive demand from consuming industries mainly led to rise in aluminium prices.
Source: Economic Times
