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Base metals: Aluminium, lead, nickel gain on pickup in demand

Aluminium prices on Thursday edged up 10 paise to Rs 133.10 per kg in futures market a

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Last Updated: Nov 14, 2019, 01.59 PM IST|Original: Nov 14, 2019, 01.59 PM IST
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Nickel prices on Thursday rose Rs 3.30 to Rs 1,143.30 per kg in futures market.
Aluminium prices on Thursday edged up 10 paise to Rs 133.10 per kg in futures market after speculators built up fresh positions amid positive trend at spot market.

On the Multi Commodity Exchange, aluminium for delivery in November contracts edged higher by 10 paise, or 0.08 per cent, to Rs 133.10 per kg in a business turnover of 704 lots.

The metal for December delivery gained 5 paise, or 0.04 per cent, to Rs 135.15 per kg in 55 lots.

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

Lead
Lead prices traded higher by 30 paise to Rs 155.55 per kg in futures trade on Thursday as participants built up fresh positions driven by pick-up in demand at the spot market.

On the Multi Commodity Exchange, lead for delivery in November edged higher by 30 paise, or 0.19 per cent, to Rs 155.55 per kg in a business volume of 1,094 lots.

Lead contracts for December delivery traded up by 15 paise, or 0.10 per cent, to Rs 155.80 per kg in a business turnover of 8 lots.

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

Nickel
Nickel prices on Thursday rose Rs 3.30 to Rs 1,143.30 per kg in futures market as as speculators raised bets driven by pickup in demand from consuming industries in spot market.

On the Multi Commodity Exchange, nickel for delivery in November contracts rose by Rs 3.30, or 0.29 per cent, to Rs 1,143.30 per kg in a business turnover of 5,696 lots.

Market analysts attributed the rise in nickel futures to fresh positions built up by participants due to pickup in demand from alloy-makers in physical market.

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