Base Metals: Nickel, zinc, lead futures rise on spot demand

New Delhi: Nickel prices rose 1.72 per cent to Rs 865.40 per kg in futures market Tuesday as speculators raised bets driven by pickup in demand from consuming industries in the spot market.

On the Multi Commodity Exchange, nickel for delivery in June contracts rose by Rs 14.60, or 1.72 per cent, to Rs 865.40 per kg in a business turnover of 8,353 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 the physical market.


Zinc

Zinc prices rose by 1.05 per cent to Rs 206.10 per kg in futures trade Tuesday, tracking a firm trend at the physical market on the back of uptick in demand.

On the Multi Commodity Exchange, zinc for June contracts was trading higher by Rs 2.15 or 1.05 per cent, at Rs 206.10 per kg with a business turnover of 5,504 lots.

Marketmen said zinc prices rose as participants raised bets following a pickup in demand from consuming industries.

Lead

Lead prices were trading higher by 0.05 per cent to Rs 155 per kg in futures trade Tuesday as speculators built-up fresh positions, driven by pickup in demand in the spot market.

On the Multi Commodity Exchange, lead for delivery in current month edged higher by 5 paise, or 0.05 per cent to Rs 155 per kg in a business turnover of 4,369 lots.

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