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Commodity Watch: Copper futures gain on higher bets

Copper futures gain on firm spot demand
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Copper futures gain on firm spot demand

Copper prices on Wednesday rose 0.64 per cent to Rs823.80 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in April traded higher by Rs5.25 or 0.64 per cent at Rs823.80 per kg in a business turnover of 4,792 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures moving up

Aluminium prices rose 0.85 per cent to Rs225.20 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for April delivery increased Rs1.90 or 0.85 per cent to Rs225.20 per kg in a business turnover of 3,604 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

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