Nickel prices on Tuesday edged up by Rs 19.70 to Rs 957.50 per kg in futures trade as speculators built positions owing to rising demand from alloy-makers in domestic market.
On the
Multi Commodity Exchange, nickel contracts for February delivery gained Rs 19.70, or 2.1 per cent, to Rs 957.50 per kg in a business turnover of 2,282 lots.
The metal for delivery in March gained Rs 21.70, or 2.32 per cent, to Rs 958.30 per kg in a business turnover of 99 lots.
Rising demand in spot market from alloy-makers mainly supported price rise in
nickel futures, analysts said.
Copper
Copper prices on Tuesday traded up 1.38 per cent at Rs 427.55 per kg in futures market on the back of pick-up in spot demand.
On the Multi Commodity Exchange, copper contracts for delivery in February traded higher by Rs 5.80, or 1.38 per cent, at Rs 427.55 per kg in a business turnover of 4,928 lots.
Similarly, the metal for delivery in March edged up by Rs 6.40, or 1.51 per cent, to Rs 430.45 per kg in 425 lots.
Analysts attributed the rise in copper prices to raising of bets by participants driven by a pick-up in spot demand.