Base metals: Nickel, copper futures rise on fresh bets

New Delhi: Aluminium prices on Friday fell by 15 paise to Rs 134.05 per kg in futures market as participants trimmed their positions amid a weak trend in spot market.

On the Multi Commodity Exchange, aluminium for delivery in April declined by 15 paise, or 0.11 per cent, to Rs 134.05 per kg in 4,152 lots.

Analysts said cutting down of positions by participants on easing demand from consuming industries in the physical market mainly kept aluminium prices lower here.


Copper
Copper prices on Friday traded up 0.89 per cent at Rs 379.85 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 3.35, or 0.89 per cent, at Rs 379.85 per kg in a business turnover of 3,089 lots.

Similarly, the metal for delivery in May edged up by Rs 3.70, or 0.98 per cent, to Rs 382.25 per kg in 47 lots.

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

Nickel
Nickel prices on Friday gained 0.29 per cent to Rs 867.40 per kg in futures trade as speculators built positions on rising demand from alloy-makers in spot market.

On the Multi Commodity Exchange, nickel contracts for April delivery gained Rs 2.50, or 0.29 per cent, to Rs 867.40 per kg in a business turnover of one lot.

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