Commodity Watch: Copper futures in focus
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Copper prices on Tuesday rose 0.58 per cent to Rs888.60 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in May traded higher Rs5.10 or 0.58 per cent at Rs888.60 per kg in a business turnover of 6,739 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.
Speculative demand for aluminium futures
Aluminium prices rose 0.09 per cent to Rs232.90 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for May delivery increased 20 paise or 0.09 per cent to Rs232.90 per kg in a business turnover of 3,201 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.
