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Commodity Watch: Copper futures gain on higher demand

Commodity Watch: Copper futures gain on higher demand
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New Delhi: Copper prices on Tuesday rose 0.1 per cent to Rs729.05 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in March traded higher by 70 paise or 0.42 per cent at Rs 729.05 per kg in a business turnover of 4,066 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures fall

Aluminium prices declined 55 paise to Rs201.50 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market. On MCX, aluminium for delivery in March fell 55 paise or 0.27 per cent to Rs201.50 per kg in 4,747 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

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