Zinc prices on Thursday edged higher by 1.05 per cent to Rs 158.70 per kg in futures market as traders built up fresh positions.
On the
Multi Commodity Exchange, zinc for delivery in May traded higher by Rs 1.65, or 1.05 per cent, to Rs 158.70 per kg in a business turnover of 3 lots.
Market analysts said fresh positions created by participants on the back of rise in demand from consuming industries mainly attributed to gain in zinc prices.
Nickel
Nickel prices on Thursday edged up by Rs 5.20 to Rs 946.50 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 5.20, or 0.55 per cent, to Rs 946.50 per kg in a business turnover of 1,894 lots.
Similarly, the metal for April delivery traded higher by Rs 8.20, or 0.87 per cent, at Rs 949.30 per kg in a business turnover of 56 lots.
Rising demand in spot market from alloy-makers mainly supported price rise in
nickel futures, analysts said.
Copper
Copper prices on Thursday traded up 0.25 per cent at Rs 429.60 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 1.05, or 0.25 per cent, at Rs 429.60 per kg in a business turnover of 1,431 lots.
Similarly, the metal for delivery in April edged up by Rs 1.15, or 0.27 per cent, to Rs 433.15 per kg in 42 lots.
Analysts attributed the rise in copper prices to raising of bets by participants driven by pick-up in spot demand.