Aluminium prices on Thursday increased ₹2.35 to ₹243 per kilogram in the futures market, as speculators built up fresh positions amid a positive trend in the spot market.
On the Multi Commodity Exchange, aluminium for delivery in December rose ₹2.35 or 0.98 per cent to ₹243 per kg in 1,111 lots.
Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
Zinc prices on Thursday rose ₹5.05 to ₹283.10 per kg in the futures trade amid a pick-up in spot demand.
On the Multi Commodity Exchange, zinc contracts for November delivery traded higher by ₹5.05 or 1.82 per cent at ₹283.10 per kg with a business turnover of 504 lots.
Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries kept zinc prices higher in the futures trade.
Copper futures on Thursday rose 1.4 per cent to Rs 837.90 per kilogram on the back of higher spot demand.
On the Multi Commodity Exchange, copper contracts for November delivery increased by Rs 11.55 or 1.4 per cent to Rs 837.90 per kg in a business turnover of 8,316 lots.
Analysts attributed the rise in copper prices to the raising of bets by participants.
A Reuters report early on November 7 said base metals prices largely rose on Thursday, rebounding from a slump in the previous session triggered by a knee-jerk sell off after Republican Donald Trump won the U.S. presidential election.
Three-month copper on the London Metal Exchange (LME) rose 0.4% to $9,383.50 per metric ton by 0141 GMT. The contract fell to its lowest level since Sept. 18 of $9,302 a ton on Wednesday.
The most-traded December copper contract on the Shanghai Futures Exchange (SHFE) fell 1.8% to 76,050 yuan ($10,583.96) a ton. Earlier in the session, it hit 75,520 yuan, its lowest level since Sept. 23, tracking overnight losses in London.
A Trump win spurred concerns that major electrification initiatives would be rolled back, dampening demand for metals including copper, aluminium, nickel and lithium.
Source: PTI
