"Copper Futures Surge Amidst Strong Spot Demand: Commodity Watch Highlights Robust Market Trends"

Copper futures on Thursday rose 0.38 per cent to Rs708.55 per kilogram on the back of higher spot demand. On the Multi Commodity Exchange (MCX), copper contracts for delivery in February traded higher Rs2.65 or 0.38 per cent at Rs708.55 per kg in a business turnover of 4,893 lots. Analysts attributed the rise in copper prices to the raising of bets by participants.

Aluminium futures rise on fresh bets

Aluminium prices inched up 0.3 per cent to Rs201.70 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market. On MCX, aluminium contracts for February delivery increased marginally 60 paise or 0.3 per cent to Rs201.70 per kg in a business turnover of 2,791 lots. Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Guar seed futures in focus

Guar seed prices rose Rs45 to Rs5,299 per 10 quintals in futures trade after speculators widened their positions following a firm trend in the spot market. On the National Commodity and Derivatives Exchange (NCDEX), guar seed contracts for March delivery rose Rs45, or 0.85 per cent, to Rs5,299 per 10 quintals with an open interest of 83,760 lots. According to marketmen, speculators raised bets, tracking a firm trend in the spot market and thin supplies from growing belts mainly led to the rise in guar seed prices.

Coriander futures trading higher

Coriander prices rose Rs20 to Rs7,504 per quintal in futures trade as speculators increased their holdings, tracking a firm trend in the spot market. On NCDEX, coriander contracts for April delivery traded higher by Rs20 or 0.27 per cent at Rs7,504 per quintal with an Open Interest of 21,065 lots.