Base Metals: Nickel, copper, zinc futures rise on firm spot cues:
Nickel prices went up by 0.74 per cent to Rs 1,279.60 per kg in futures trade on Wednesday as speculators raised their bets on spot demand.
On the Multi Commodity Exchange, nickel for delivery in September gained Rs 9.40, or 0.74 per cent, to Rs 1,279.60 per kg in a business turnover of 8,754 lots.
Increase in domestic demand from alloy-makers and firmness in base metals at the spot market mainly influenced nickel prices here, analysts said.
Copper
Copper prices edged higher by 0.59 per cent to Rs 443.10 per kg in futures trade on Wednesday as participants raised bets, tracking positive global cues.
On the Multi Commodity Exchange, copper contracts for September delivery rose by Rs 2.60, or 0.59 per cent, to Rs 443.10 per kg in a business turnover of 3,138 lots.
A firm trend overseas and pick-up in demand at the spot market mainly led to the rise in copper prices, analysts said.
Zinc
Zinc prices rose 0.5 per cent to Rs 182.10 per kg in futures trade on Wednesday as speculators built up fresh positions taking positive cues from the spot market.
On the Multi Commodity Exchange, zinc for delivery in September traded 90 paise, or 0.5 per cent higher at Rs 182.10 per kg in a business turnover of 3,181 lots.
Marketmen said fresh positions built up by participants due to pick-up in spot market led to rise in zinc futures.
Lead
Lead prices were trading higher by 0.16 per cent to Rs 153.95 per kg in futures trade on Wednesday as participants built up fresh positions driven by pick-up in demand at the spot market.
On the Multi Commodity Exchange, lead for delivery in September contracts edged higher by 25 paise, or 0.16 per cent, to Rs 153.95 per kg in a business volume of 1,341 lots.
Market analysts said fresh positions created by traders due to upsurge in demand by batt ..
Analysts said fresh positions created by traders after positive demand from consuming industries mainly led to rise in aluminium prices.
Nickel prices went up by 0.74 per cent to Rs 1,279.60 per kg in futures trade on Wednesday as speculators raised their bets on spot demand.
On the Multi Commodity Exchange, nickel for delivery in September gained Rs 9.40, or 0.74 per cent, to Rs 1,279.60 per kg in a business turnover of 8,754 lots.
Increase in domestic demand from alloy-makers and firmness in base metals at the spot market mainly influenced nickel prices here, analysts said.
Copper
Copper prices edged higher by 0.59 per cent to Rs 443.10 per kg in futures trade on Wednesday as participants raised bets, tracking positive global cues.
On the Multi Commodity Exchange, copper contracts for September delivery rose by Rs 2.60, or 0.59 per cent, to Rs 443.10 per kg in a business turnover of 3,138 lots.
A firm trend overseas and pick-up in demand at the spot market mainly led to the rise in copper prices, analysts said.
Zinc
Zinc prices rose 0.5 per cent to Rs 182.10 per kg in futures trade on Wednesday as speculators built up fresh positions taking positive cues from the spot market.
On the Multi Commodity Exchange, zinc for delivery in September traded 90 paise, or 0.5 per cent higher at Rs 182.10 per kg in a business turnover of 3,181 lots.
Marketmen said fresh positions built up by participants due to pick-up in spot market led to rise in zinc futures.
Lead
Lead prices were trading higher by 0.16 per cent to Rs 153.95 per kg in futures trade on Wednesday as participants built up fresh positions driven by pick-up in demand at the spot market.
On the Multi Commodity Exchange, lead for delivery in September contracts edged higher by 25 paise, or 0.16 per cent, to Rs 153.95 per kg in a business volume of 1,341 lots.
Market analysts said fresh positions created by traders due to upsurge in demand by batt ..
Analysts said fresh positions created by traders after positive demand from consuming industries mainly led to rise in aluminium prices.
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