Base metals: Nickel futures slide on subdued demand; copper climbs
Analysts said subdued demand in spot market mainly led to fall in nickel prices here.
New Delhi: Nickel prices on Thursday fell 0.97 per cent to Rs 902.30 per kg in futures trade after participants offloaded their positions amid weak demand in spot market.
On the Multi Commodity Exchange, nickel contracts for April delivery traded down by Rs 8.80, or 0.97 per cent, to Rs 902.30 per kg with a business turnover of 1,161 lots.
Analysts said subdued demand in spot market mainly led to fall in nickel prices here.
Coppe
Copper prices on Thursday traded higher by 0.47 per cent at Rs 395.60 per kg in futures market on the back of pick-up in spot demand.
On the Multi Commodity Exchange, copper contracts for delivery in April traded higher by Rs 1.85, or 0.47 per cent, at Rs 395.60 per kg in a business turnover of 3,321 lots.
Similarly, the metal for delivery in May edged up by Rs 2.20, or 0.55 per cent, to Rs 398.65 per kg in 390 lots.
Analysts attributed the rise in copper prices to raising of bets by participants driven by pick-up in spot demand.
On the Multi Commodity Exchange, nickel contracts for April delivery traded down by Rs 8.80, or 0.97 per cent, to Rs 902.30 per kg with a business turnover of 1,161 lots.
Analysts said subdued demand in spot market mainly led to fall in nickel prices here.
Coppe
Copper prices on Thursday traded higher by 0.47 per cent at Rs 395.60 per kg in futures market on the back of pick-up in spot demand.
On the Multi Commodity Exchange, copper contracts for delivery in April traded higher by Rs 1.85, or 0.47 per cent, at Rs 395.60 per kg in a business turnover of 3,321 lots.
Similarly, the metal for delivery in May edged up by Rs 2.20, or 0.55 per cent, to Rs 398.65 per kg in 390 lots.
Analysts attributed the rise in copper prices to raising of bets by participants driven by pick-up in spot demand.