9,482.45167.5
Stock Analysis, IPO, Mutual Funds, Bonds & More

Base Metals: Nickel trades down, copper trades up in futures trade

Nickel prices on Wednesday declined by Rs 5.30 to Rs 946.80 per kg in futures trade.

PTI|
Last Updated: Feb 12, 2020, 03.32 PM IST
0Comments
AFP
Copper-
Copper prices on Wednesday traded up by 0.06 per cent at Rs 434 per kg.
Nickel prices on Wednesday declined by Rs 5.30 to Rs 946.80 per kg in futures trade due to reducing of positions by speculators amid sluggish demand in spot market.

On the Multi Commodity Exchange, nickel contracts for February delivery fell by Rs 5.30, or 0.56 per cent, to Rs 946.80 per kg with a business turnover of 5,283 lots.

Similarly, nickel contracts for March delivery dropped by Rs 3.20, or 0.34 per cent, to Rs 949.20 per kg in 88 lots.

Analysts said subdued demand in spot market mainly led to fall in nickel prices here.

Copper
Copper prices on Wednesday traded up by 0.06 per cent at Rs 434 per kg in futures market on the back of pick-up in spot demand.

On the Multi Commodity Exchange, copper contracts for delivery in February traded higher by 25 paise, or 0.06 per cent, at Rs 434 per kg in a business turnover of 2,660 lots.

Similarly, the metal for delivery in March edged up by 65 paise, or 0.15 per cent, to Rs 436.15 per kg in 104 lots.

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

Also Read

Base metals: Nickel, copper futures slide on weak demand

Commodity outlook: Base metals gain; here's how others may fare

India Ratings cuts outlook on base metals to negative

Base metals: Nickel, copper futures advance on spot demand

Base metals: Copper, nickel futures climb on fresh bets

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service