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Base metals: Copper, nickel futures fall on weak demand
Zinc prices on Thursday rose by Rs 2.20 to Rs 184.10 per kilos in futures trade, keeping track of a firm trend in real markets on the back associated with pick-up in spot demand.
On the Multi Thing Exchange, zinc contracts intended for July delivery traded larger by Rs 2.20, or 1.21 percent, at Rs 184.10 per kg with a company turnover of 126 tons.
Marketmen said widening associated with positions by participants next pick-up in demand coming from consuming industries kept zinc rates higher in futures trade.
Copper prices on Thursday slipped by way of Rs 2.45 to be able to Rs 507.20 for each kg as participants decrease their positions amid moderate demand in domestic market.
On the Multi Thing Exchange, copper for September delivery eased by Rs 2.45, or zero.48 per cent, to Rs 507.20 per kilos in a business turnover of three,903 lots.
Analysts stated trimming of positions by way of speculators due to muted demand in spot market primarily led to the fall around copper prices here.
Nickel prices on Thurs night fell by 0.18 per cent to Rs a single,050.30 per kilos in futures trade following participants offloaded their roles amid weak demand around spot market.
On often the Multi Commodity Exchange, nickel contracts for August shipping traded down by Rs 1.90, or zero.18 for each cent, to Rs 1,050.30 per kg with a business yield of 1,750 lots.
Analysts said subdued demand around spot market mainly ended in the fall in nickel futures prices.