Commodity Watch: Rising Spot Demand Propelling Copper Futures

New Delhi: Copper prices on Thursday rose 0.79 per cent to Rs806.95 per kilogram in the futures market on the back of higher spot demand. On Multi Commodity Exchange (MCX), copper contracts for delivery in October traded higher Rs6.35 or 0.79 per cent at Rs806.95 per kg in a business turnover of 1,680 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures rise on fresh bets

Aluminium prices climbed 0.88 per cent to Rs224.70 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for October delivery increased Rs1.95 or 0.88 per cent to Rs224.70 per kg in a business turnover of 889 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.