Copper prices on Monday traded up 1.15 per cent at Rs 426.70 per kg in futures market on the back of pick-up in spot demand.
On the
Multi Commodity Exchange, copper contracts for delivery in March traded higher by Rs 4.85, or 1.15 per cent, at Rs 426.70 per kg in a business turnover of 6,348 lots.
Similarly, the metal for delivery in April edged up by Rs 4.55, or 1.07 per cent, to Rs 429.50 per kg in 114 lots.
Analysts attributed the rise in copper prices to raising of bets by participants driven by pick-up in spot demand.
Nickel
Nickel prices on Monday edged up by Rs 22.40 to Rs 923.40 per kg in futures trade as speculators built positions on rising demand from alloy-makers at spot market.
On the Multi Commodity Exchange, nickel contracts for March delivery gained Rs 22.40, or 2.49 per cent, to Rs 923.40 per kg in a business turnover of 4,886 lots.
Similarly, the metal for April delivery traded higher by Rs 17.60, or 1.95 per cent, at Rs 920.20 per kg in a business turnover of 45 lots.
Rising demand in spot market from alloy-makers mainly supported price rise in
nickel futures, analysts said.