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Copper Futures Slip Due to Weak Demand: Commodity Market Update

Commodity Watch

Commodity Watch

New Delhi: Copper futures on Monday fell 95paise to Rs721.10 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for February delivery eased by 95paise or 0.13 per cent to Rs721.10 per kg in a business turnover of 4,913 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 fall on low demand

Aluminium prices on Monday declined 90paise to Rs200.80 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in February fell by 90paise or 0.45 per cent to Rs200.80 per kg in 3,806 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

Cottonseed oil futures decline on soft demand

Cottonseed oil cake prices on Monday decreased Rs49 to Rs2,529 per quintal in futures trade as participants reduced their bets following weak trends in spot markets. On the National Commodity and Derivatives Exchange, cottonseed oil cake for February delivery fell Rs49 or 1.94 per cent to Rs2,529 per quintal with an open interest of 47,200 lots. Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cottonseed oil cake prices.

Coriander futures dip on low demand

Coriander prices on Monday eased Rs180 to Rs7,932 per quintal in futures trade as speculators reduced their positions amid a weak demand in the spot market.

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