Copper Futures Slip: Commodity Update, Demand Factors

Copper futures on Thursday fell 95paise to Rs712.35 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange (MCX), copper contracts for January delivery eased by 95paise or 0.13 per cent to Rs712.35 per kg in a business turnover of 4,948 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 on Thursday declined 45paise to Rs198.30 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 January fell by 45paise or 0.23 per cent to Rs198.30 per kg in 3,596 lots. Analysts said cutting down of positions by participants on easing demand from consuming industries mainly kept aluminium prices lower.

Zinc futures turn sluggish

Zinc prices on Thursday fell 0.45 per cent to Rs219.35 per kilogram in the futures trade as speculators reduced their exposure, taking negative cues from the spot market.

On MCX, zinc contracts for January delivery traded lower by Re1 or 0.45 per cent at Rs219.35 per kg in 2,543 lots.

Analysts said trimming of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.