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Commodity Watch: Copper futures up on firm spot demand

Commodity Watch

Commodity Watch

New Delhi: Copper prices on Thursday rose 0.42 per cent to Rs719.40 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in January traded higher by Rs3 or 0.42 per cent at Rs719.40 per kg in a business turnover of 5,809 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures rise on fresh bets

Aluminium prices climbed 0.05 per cent to Rs202.95 per kilogram in futures trade as speculatoRsbuilt up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for January delivery increased by 10 paise or 0.05 per cent to Rs202.95 per kg in a business turnover of 4,268 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Cottonseed oil futures decline

Cottonseed oil cake prices decreased Rs9 to Rs2,687 per quintal in futures trade as participants reduced their bets following weak trends in spot markets. On the National Commodity and Derivatives Exchange (NCDEX), cottonseed oil cake for January delivery fell Rs9 or 0.33 per cent to Rs2,687 per quintal with an open interest of 16,150 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 in focus

Coriander prices rose Rs2 to Rs6,878 per quintal in futures trade as speculators increased their holdings, tracking a firm trend in the spot market.

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