Copper, Nickel rise on spot demand

Base metals prices gained on Friday’s trade buoyed by global cues and spot demand.

Oct 06, 2017 12:10 IST India Infoline News Service

Base metals prices gained on Friday’s trade buoyed by global cues and spot demand.

At MCX, copper for delivery in November rose by 75 paise or 0.17% to Rs 444.40 per kg in a business turnover of 44 lots.  The metal for delivery in far-month February also was up by 70 paise or 0.16% to Rs 440.30 per kg in a business volume of 1,925 lots. 

Globally, copper for delivery in three months ended 2.7% higher at USD 6,700 per tonne at the LME in Thursday’s trade. 
 
Nickel prices rose by 0.79% to Rs 702 per kg in futures trade on Friday as market participants widened positions, driven by pick-up in demand at the domestic spot markets and a firm trend overseas. 
 
 In futures trading at the Multi Commodity Exchange, nickel for delivery in November was trading higher by Rs 5.50, or 0.79%, to Rs 702 per kg in a business turnover of 13 lots. Similarly, the metal for delivery in October was trading higher by Rs 5.20, or 0.75%, to Rs 695.50 per kg in 13 lots. 

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