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Commodity Watch: Muted demand for copper futures

Commodity Watch: Muted demand for copper futures
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New Delhi: Copper futures on Friday fell Rs4.30 to Rs722.85 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for March delivery eased Rs4.30 or 0.59 per cent to Rs722.85 per kg in a business turnover of 4,090 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

Aluminium prices declined 85 paise to Rs199.45 per kilogram in the futures market as participants trimmed their positions on a weak trend in the spot market. On MCX, aluminium for delivery in March fell 85 paise or 0.42 per cent to Rs199.45 per kg in 4,844 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

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