Copper futures gain on firm spot demand
Copper futures on Monday fell Rs2.40 to Rs728.50 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for March delivery eased Rs2.40 or 0.33 per cent to Rs728.50 per kg in a business turnover of 3,964 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 15paise to Rs197.40 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 March fell 15paise or 0.08 per cent to Rs197.40 per kg in 5,126 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
