Base metals: Copper, zinc futures climb on fresh bets – Economic Times



New Delhi: Copper prices on Thursday traded 0.05 per cent higher at Rs 408.20 per kg in futures market on the back of pick-up in spot demand.

On the Multi Commodity Exchange, copper contracts for delivery in May traded higher by 20 paise, or 0.05 per cent, at Rs 408.20 per kg in a business turnover of 3,043 lots.

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

Zinc

Zinc prices on Thursday rose 0.03 per cent to Rs 152.15 per kg in futures trade tracking a firm trend in physical markets on the back of pick-up in demand.

On the Multi Commodity Exchange, zinc contracts for May delivery traded higher by 5 paise, or 0.03 per cent, at Rs 152.15 per kg with a business turnover of 10,706 lots.

Marketmen said widening of positions by participants, following pick-up in demand from consuming industries kept zinc prices higher.

Aluminium

Aluminium prices eased by 25 paise to Rs 132.05 per kg on Thursday as participants were engaged in reducing their positions amid weak trend in spot market.

On the Multi Commodity Exchange, aluminium for delivery in May declined by 25 paise, or 0.19 per cent, to Rs 132.05 per kg in a business turnover of 3,609 lots.

Analysts said cutting down of positions by participants on the back of easing demand from consuming industries mainly exerted pressure on aluminium prices.