Commodity Watch: Copper Futures Decline On Weak Demand

New Delhi: Copper futures on Wednesday fell 0.09 per cent to Rs844.40 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for November delivery eased by 80paise or 0.09 per cent to Rs844.40 per kg in a business turnover of 7,391 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 rise on fresh bets

Aluminium prices on Wednesday increased 60paise to Rs242.70 per kilogram in the futures market as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium for delivery in November rose 60paise or 0.25 per cent to Rs242.70 per kg in 3,573 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.