home Latest News Base metals: Lead, Nickel futures marginally up on spot demand – Economic Times

Base metals: Lead, Nickel futures marginally up on spot demand – Economic Times

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Lead prices rose 0.07 per cent to Rs 144.15 per kg in futures trade Wednesday as speculators widened their positions amid increased demand in the spot market and positive global cues.

At the Multi Commodity Exchange, lead for delivery in February was up by 10 paise, or 0.07 per cent, at Rs 144.15 per kg in 1,031 lots.

Marketmen said the rise in lead prices at futures trade was mostly supported by widening of bets by participants on rising demand from battery makers in the domestic spot market and firm overseas cues.

Copper
Copper prices rose 0.34 per cent to Rs 434.05 per kg in futures trade Wednesday as speculators built up fresh positions on the back of pick up in demand in the spot market amid positive global cues.

At the Multi Commodity Exchange, copper for delivery in February was trading higher by Rs 1.45, or 0.34 per cent, at Rs 434.05 per kg in 1,469 lots.

Marketmen attributed the rise in copper prices to fresh positions created by participants in line with rising demand at the domestic spot market and a firm trend overseas.

Nickel
Nickel prices went up 0.50 per cent to Rs 876.20 per kg in futures trade Wednesday as traders created fresh positions, aided by pick up in demand from alloy-makers at the spot market coupled with firm global cues.

At the Multi Commodity Exchange, nickel for delivery in February contract was trading higher by Rs 4.40, or 0.50 per cent, at Rs 876.20 per kg with a business volume of 1,801 lots.

Analysts attributed the rise in nickel prices at futures trade to increased demand from alloy-makers in the physical market and a firm trend in global market.

Zinc
Zinc prices recovered 0.38 per cent to Rs 185.05 per kg in futures market Wednesday after speculators built up fresh positions following pick up in demand at the spot market.

At the Multi Commodity Exchange, zinc for delivery in February was trading higher by 70 paise, or 0.38 per cent, at Rs 185.05 per kg in 2,087 lots.

Marketmen attributed the rise in zinc prices at futures trade to pick up in demand at the spot market and positive overseas cues.