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Commodity Watch: Copper futures in red

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

New Delhi: Copper futures on Tuesday fell 0.43 per cent to Rs863 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for May delivery eased Rs3.70 or 0.43 per cent to Rs863 per kg in a business turnover of 6,505 lots. Analysts said trimming of positions by speculators amid a muted demand in the spot market mainly dragged down copper prices in the futures trade.

Aluminium futures rise on speculative bets

Aluminium futures rose 0.45 per cent to Rs235.60 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 Rs1.05 or 0.45 per cent to Rs235.60 per kg in a business turnover of 4,058 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

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