Commodity Watch
Copper futures on Monday fell Re1 to Rs702.75 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 Re1 or 0.14 per cent to Rs702.10 per kg in a business turnover of 6,643 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 dip on low demand
Aluminium prices on Monday declined 10paise to Rs200.40 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 10paise or 0.05 per cent to Rs200.40 per kg in 3,523 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Zinc futures down on paused demand
Zinc prices on Monday fell 0.65 per cent to Rs206.25 per kilogram in the futures trade as speculators reduced their exposure, taking negative cues from the spot market. On the Multi Commodity Exchange, zinc contracts for February delivery traded lower by Rs1.35 or 0.65 per cent at Rs206.25 per kg in 5,443 lots. Analysts said trimming of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.
Guar gum futures fall on low demand
Guar gum prices on Monday dropped Rs156 to Rs10,021 per five quintals in the futures market as traders offloaded their holdings in line with a weak trend in the spot market.
