Commodity Watch: Copper futures reeling under pressure
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New Delhi: Copper futures on Tuesday fell 0.06 per cent to Rs854.90 per kilogram as participants cut their positions amid a muted demand in the domestic market. On Multi Commodity Exchange (MCX), copper contracts for July delivery eased by 50 paise or 0.06 per cent to Rs854.90 per kg in a business turnover of 7,567 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 in red
Aluminium prices declined Rs0.22 to Rs226.70 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 July fell 50 paise or 0.22 per cent to Rs226.70 per kg in 3,404 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.
