Base Metals: Nickel, copper edge lower in futures trade amid weak demand
Copper futures on Friday traded 1.48 per cent lower at Rs 416.20 per kg.
Nickel prices on Friday fell by Rs 13.60 to Rs 891.20 per kg in futures trade after participants trimmed their positions amid weak demand at spot market.
On the Multi Commodity Exchange, nickel contracts for March delivery fell by Rs 13.60, or 1.5 per cent, to Rs 891.20 per kg with a business turnover of 3,220 lots.
Similarly, nickel contracts for April delivery dropped by Rs 12.30, or 1.36 per cent, to Rs 892.20 per kg in 45 lots.
Analysts said subdued demand at spot market mainly led to fall in nickel prices here.
Copper
Copper futures on Friday traded 1.48 per cent lower at Rs 416.20 per kg after participants offloaded their positions on weak spot demand.
On the Multi Commodity Exchange, copper contracts for March delivery fell by Rs 6.25, or 1.48 per cent, to Rs 416.20 per kg in a business turnover of 5,087 lots.
Similarly, copper contracts for April delivery traded lower by Rs 6.10, or 1.43 per cent, to Rs 420 per kg in a business turnover of 51 lots.
Traders said subdued demand in spot market mainly pushed down copper prices here.
On the Multi Commodity Exchange, nickel contracts for March delivery fell by Rs 13.60, or 1.5 per cent, to Rs 891.20 per kg with a business turnover of 3,220 lots.
Similarly, nickel contracts for April delivery dropped by Rs 12.30, or 1.36 per cent, to Rs 892.20 per kg in 45 lots.
Analysts said subdued demand at spot market mainly led to fall in nickel prices here.
Copper
Copper futures on Friday traded 1.48 per cent lower at Rs 416.20 per kg after participants offloaded their positions on weak spot demand.
On the Multi Commodity Exchange, copper contracts for March delivery fell by Rs 6.25, or 1.48 per cent, to Rs 416.20 per kg in a business turnover of 5,087 lots.
Similarly, copper contracts for April delivery traded lower by Rs 6.10, or 1.43 per cent, to Rs 420 per kg in a business turnover of 51 lots.
Traders said subdued demand in spot market mainly pushed down copper prices here.