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Commodity Watch: Muted demand for copper futures

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

New Delhi: Copper futures on Tuesday fell by 0.32 per cent to Rs828.65 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for April delivery eased Rs2.65 or 0.32 per cent to Rs828.65 per kg in a business turnover of 4,254 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 0.62 per cent to Rs231 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 April fell Rs1.45 or 0.62 per cent to Rs231 per kg in 3,666 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

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