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Commodity Watch: Copper futures up on firm spot demand

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

Copper prices on Monday rose 0.3 per cent to Rs823.05 per kilogram in the futures market on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in April traded higher by Rs2.50 or 0.3 per cent at Rs823.05 per kg in a business turnover of 4,674 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures rise on fresh bets

Aluminium futures rose 2.52 per cent to Rs232.15 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for April delivery increased Rs5.70 or 2.52 per cent to Rs232.15 per kg in a business turnover of 3,326 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

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