New Delhi: Copper futures on Friday fell Rs1.20 to Rs712.65 per kilogram as participants cut their positions amid a muted demand in the domestic market.
On the Multi Commodity Exchange (MCX), copper contracts for November delivery eased by Rs1.20 or 0.17 per cent to Rs712.65 per kg in a business turnover of 1,809 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.
Speculators trim positions in Aluminium futures
Aluminium price declined 10 paise to Rs205.10 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 December fell by 10 paise or 0.05 per cent to Rs205.10 per kg in 2,841 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
Cottonseed oil futures decline
Cottonseed oil cake prices fell Rs31 to Rs2,986 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 December delivery declined Rs31 or 1.03 per cent to Rs2,986 per quintal with an open interest of 44,290 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.
Guar seed futures rise on spot demand
Guar seed prices increased by Rs16 to Rs5,623 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market. On NCDEX, guar seed contracts for December delivery rose Rs16 or 0.28 per cent to Rs5,623 per 10 quintals with an open interest of 69,705 lots. According to marketmen, speculators raised bets, tracking a firm trend in the spot market and thin supplies from growing belts, which led to the rise in guar seed prices.
