Base Metals: Aluminium, lead, zinc rise in futures amid strong demand

Aluminium prices on Friday edged up 0.19 per cent to Rs 132.85 per kg in futures market after speculators built up fresh positions amid positive trend at the spot market.

On the Multi Commodity Exchange (MCX), aluminium for delivery in December contracts edged higher by 25 paise, or 0.19 per cent, to Rs 132.85 per kg in a business turnover of 218 lots.

Analysts said fresh positions created by traders after positive demand from consuming industries mainly led to rise in aluminium prices.

Lead
Lead prices on Friday traded higher by 30 paise to Rs 152.90 per kg in futures trade as participants built up fresh positions driven by pick-up in demand in spot market.

On the Multi Commodity Exchange, lead for delivery in December edged higher by 30 paise, or 0.20 per cent, to Rs 152.90 per kg in a business volume of 696 lots.

Market analysts said fresh positions created by traders due to upsurge in demand by battery-makers in physical market mainly helped lead prices to trade higher.

Zinc
Zinc prices on Friday rose 0.55 per cent to Rs 183.75 per kg in futures market as traders built up fresh positions amid increase in spot demand.

On the Multi Commodity Exchange, zinc for delivery in December traded higher by Re 1, or 0.55 per cent, to Rs 183.75 per kg in a business turnover of 2,048 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.

Copper
Copper prices on Friday traded up by Rs 1.75 at Rs 432.35 per kg in futures trade on pick-up in spot demand.

On the Multi Commodity Exchange, copper contracts for delivery in December traded higher by Rs 1.75, or 0.41 per cent, to Rs 432.35 per kg in a business turnover of 1,807 lots.

Similarly, the metal for delivery in Janaury edged up by Rs 1.70, or 0.40 per cent, to Rs 437 per kg in 28 lots.

Analysts attributed the rise in copper prices to raising of bets by participants driven by a pick-up in demand at spot market.

Nickel
Nickel prices on Friday moved up by Rs 9.40 to Rs 993 per kg in futures trade as speculators enlarged their positions driven by firm demand from alloy-makers in spot market.

On the Multi Commodity Exchange, nickel contracts for December delivery gained Rs 9.40, or 0.96 per cent, to Rs 993 per kg in a business turnover of 2,190 lots.

Similarly, the metal for delivery in January traded up by Rs 7.80, or 0.78 per cent at Rs 991.10 per kg in a business turnover of 27 lots.

Rising demand in spot market from alloy-makers supported price rise in nickel futures, analysts said.