Commodity Watch: Aluminium futures fall on low demand

New Delhi: Aluminium prices dropped Rs 1.20 to Rs 356.30 per kg in the futures trade on Wednesday as participants trimmed their positions amid a weak trend in the spot market.

On the Multi Commodity Exchange, aluminium for delivery in May fell by Rs 1.20, or 0.34 per cent, to Rs 356.30 per kg in 64 lots. Analysts said that the trimming of positions by participants, driven by easing demand from consuming industries, mainly kept aluminium prices lower.

Zinc futures rise on high demand

Zinc prices on Wednesday rose marginally by Rs 2.50 to Rs 331.10 per kg in futures trade due to higher spot demand. On the Multi Commodity Exchange, zinc contracts for May delivery edged up Rs 2.50, or 0.76 per cent, to Rs 331.10 per kg with a business turnover of 342 lots.Traders attributed the rise in zinc futures to higher bets by participants.

Copper futures gain on higher spot demand

Copper futures rose by Rs 21.20 to Rs 1,194.50 per kg on Wednesday due to higher spot demand. On the Multi Commodity Exchange, copper contracts for May delivery grew by Rs 21.20, or 1.81 per cent, to Rs 1,194.50 per kilogram in a business turnover of 397 lots.