It is reported that base metals prices moved up in the opening trade on the futures market as traders enlarged their positions, taking cues from global markets.

Traders said that overnight gains at London Metal Exchange, where all the base metals ended in positive zone as the US dollar weakened against the euro and the low level of LME monitored inventories, influenced the prices on the Multi Commodity Exchange.
Prices of tin for June 2008 contract shot up by nearly 3% at INR 896.50 on speculative buying on the futures market, triggered by strong LME, where it surged by 4% at USD 21,945 a tonne.

Nickel for most active June 2008 delivery contract rose by 0.58% at INR 1,041 per kilogram with a business volume of 1,041 lots, while July 2008 contract was up by 0.72% at INR 1,053 per kilogram. It clocked a business volume of 108 lots.

Copper June 2008 delivery contract gained 0.62% at INR 347.75 with a significant business volume of 3203 lots, while August 2008 contract rose by 0.64% at INR 346.65 with a volume of 380 lots. For month November 2008 contract rose by 0.20% at INR 345.80 per kilogram and recorded a moderate business volume of 5 lots.

Zinc June 2008 contract delivery moved up by 0.75% at INR 80.95, July 2008 contract delivery rose by 0.74% at INR 82.20 per kilogram while August 2008 contract gained by 0.24% at INR 83.15 per kilogram.