Zinc prices on Wednesday fell 0.35 per cent to Rs 157 per kg in futures trade as speculators cut bets amid easing demand in spot market.
On the
Multi Commodity Exchange, zinc contracts for May delivery moved down by 55 paise, or 0.35 per cent, to Rs 157 per kg in a business turnover of 2 lots.
Analysts said offloading of positions by traders owing to slackened demand from consuming industries in physical market mainly weighed on zinc prices in futures trade here.
Nickel
Nickel prices on Wednesday gained Rs 8.20 to Rs 944.60 per kg in futures trade as speculators built positions on rising demand from alloy-makers in spot market.
On the Multi Commodity Exchange, nickel contracts for March delivery gained Rs 8.20, or 0.88 per cent, to Rs 944.60 per kg in a business turnover of 2,518 lots.
Similarly, the metal for April delivery traded higher by Rs 11.50, or 1.23 per cent, at Rs 943.50 per kg in a business turnover of 25 lots.
Rising demand in spot market from alloy-makers mainly supported price rise in
nickel futures, analysts said.
Copper
Copper prices on Wednesday traded up 0.80 per cent at Rs 429.05 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 3.40, or 0.80 per cent, at Rs 429.05 per kg in a business turnover of 3,123 lots.
Similarly, the metal for delivery in April edged up by Rs 3.60, or 0.84 per cent, to Rs 432.90 per kg in 55 lots.
Analysts attributed the rise in copper prices to raising of bets by participants driven by pick-up in spot demand.