Commodity face, Base metals: On MCX Copper, nickel jump on spot demand

commodity intraday tips, commodity tips, MCX NCDEX Advice, MCX Agri Commodity Tips, Intraday Tips, MCX Gold Silver, MCX Bullion, MCX Base Metal,Lead prices traded high by 0.47% in futures trade on Thursday, since participants engaged in making fresh positions due to pick up in demand from industries in the spot market. Copper futures glided more from their 3-year highs today. COMEX Copper is down 0.78 percent at USD 3.12 per pound. MCX Copper futures are also on downside 0.83 percent at Rs 444.05 per kg after testing a low near Rs 443 levels.

At the MCX, copper for delivery in far-month February next year contracts surged by Rs 2.25, to Rs 451.85 per kg in business turnover of 3 lots, while Nickel moved up by 0.82% to Rs 778.80 per kg in futures trading AS participants widened their bets, amid a strong global cues. At the MCX, nickel for delivery in October rose by Rs 6.30 to Rs 778.80/ kg in a business turnover of 17 lots. 

Get Two Days Free Trial click here