New Delhi: Aluminium prices on Monday softened 0.34 per cent to Rs 132.75 per kg in futures trade as speculators cut bets amid subdued demand in spot market.
On the Multi Commodity Exchange, aluminium for delivery in May contracts eased by 45 paise, or 0.34 per cent, to Rs 132.75 per kg in a business turnover of 3,066 lots. However, the metal for delivery in June contracts was trading up by 70 paise, or 0.52 per cent, at Rs 134.40 per kg in 5 lots.
Analysts said off-loading of positions by participants owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.
Copper
Copper prices on Monday traded 0.95 per cent higher at Rs 409.60 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 Rs 3.85, or 0.95 per cent, at Rs 409.60 per kg in a business turnover of 2,817 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 Monday rose 0.92 per cent to Rs 952.40 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 May delivery gained Rs 8.70, or 0.92 per cent, to Rs 952.40 per kg in a business turnover of 976 lots.
Similarly, the metal for June delivery traded higher by Rs 18.20, or 1.95 per cent, at Rs 949.50 per kg in a business turnover of 3 lots.
Rising demand in spot market from alloy makers mainly supported the price rise in nickel futures, analysts said.
